Deep-dive into vendor landscape of F&B coding and marking equipment
BY CHAITALI GAWANDE
Food and beverage industry is a competitive landscape, where shifting demands and changing regulations are a common occurrence. Therefore, industry players often find themselves in a cut-throat environment, where growing amid technological change is a concrete reality. This, in turn, leads to packaging gaining centre-stage. Marking, coding and labelling becomes crucial for product differentiation, regulation compliance and better logistics, creating demand for coding and marking equipment.
Placing technology in food and beverage coding and marking equipment
Over the next few years, the food and beverage coding and marking equipment market will record notable growth, and a number of factors will underscore it. Transparency Market Research provides a deep-dive into these trends and drivers to paint a definitive picture of growth dynamics. It notes that a robust compound annual growth rate is set to mark the landscape from 2019-2027, creating conducive environment for emergence of novel growth opportunities.
As per the research company, transformative leaps in technological capabilities will be a primary factor of growth over the forecast period. It is pertinent to note here that the need for such advancement and adoption of advanced technology crops up from growing demand for transparency in terms of ingredients used and impact on health.
One such example is Swedish supermarkets’ decision to go for natural branding – use of laser marking instead of plastic-based sticky labels in 2017. The move not only creates less packaging but leads to reduced CO2 emissions and energy. The new-age consumer, who is both aware and ready to pay extra for sustainable products, is looking for exactly such measures to incorporate in day-to-day choices.
Efforts aimed at health and wellness contribute positively to growth
Governments across the global are taking extensive measures to reduce waste and use labelling, marking, and coding as a tool to fight obesity. This is a notable factor, driving growth in global food and beverages coding and marking equipment market. In December last year, researchers working on the impact of displaying the amount of exercise required for burning calories of a particular food product states that it looks promising. Few years back, the European Union decided upon doing away with generic title and opting for exhibiting the exact ingredient name on the packaging. This was done to ensure consumers are aware if their food is carrying palm oil, which was included under the name of vegetable oil. Besides, misleading synonyms lead to healthcare challenges.
Get more information about Food and Beverage Coding and Marking Equipment by TMR.
Chaitali Gawande is senior content writer at Transparency Market Research (TMR).