New York, NY -- (SBWIRE) -- 07/31/2018 -- Coding and marking systems provide product related details on the packaging, such as batch number, price, manufacturing and expiry date, and other related information to end users. Coding and labelling allow the identification and tracking of components through the different phases of the production process. The U.S. coding and marking systems market is projected to reach $860.6 million by 2023, witnessing a CAGR of 7.6% during the forecast period. The market growth is mainly driven by increasing demand of coding and marking systems from the automotive industry.

Coding and marking in the food and beverage industry, especially directly onto the surface of the food, needs specific equipment and inks. Hence, manufacturers dealing in the coding and marking solutions must comply with U.S. Food and Drugs Administration (FDA) standards while providing high quality codes and labels, to meet consumer demands for freshness and to ensure complete traceability.

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For example, in the U.S., drug manufacturers need to follow coding and marking guidelines mentioned in Drug Supply Chain Security Act (DSCSA). Additionally, FDA has mandated the use of Unique Device Identification (UDI) label on medical and food and beverage production devices as part of its FDA Act of 2007. In order to follow these norms, manufacturers are taking help of coding and marking machines to print codes and labels on packaging of manufactured goods. This in turn driving the growth of the market.

In recent years, cost of manufacturing coding and marking systems in the country has increased significantly owing to rise in price of raw materials caused by volatility in commodity market and rise in urgency in need to integrate costly printing technology to meet stringent government norms. For example, in order to print anti-counterfeit codes on automobile components, manufacturers need to take help of costly laser technologies.

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By integrating costly laser technologies, cost of manufacturing of laser coding and marking systems gets increased. Such rise in cost of manufacturing coding and marking systems is putting pressure on margin of manufacturers. From demand side, rise in price of coding and marking systems has also slightly dented its attractiveness among users. This has created negative impact against the growth of the U.S. coding and marking systems market.

Some of the major players operating in the U.S. coding and marking systems market are REA Elektronik GmbH, ID technology, Matthews International Corporation, Domino Printing Sciences plc, Danaher Corporation and Dover Corporation.

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