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Global Coding and Marking Systems Market Analysis, Leading Players and Future Scope

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The global coding and marking systems market is predicted to attain a valuation of $7,469.6 million by 2030 by P&S Intelligence.

NEW YORK - eTradeWire -- The global coding and marking systems market generated a revenue of $3,832.4 million in 2019 and is predicted to attain a valuation of $7,469.6 million by 2030. Furthermore, the market would advance at a CAGR of 6.4% between 2020 and 2030.

The rising application of coding and marking systems in the pharmaceuticals and food & beverages industries is a key factor leading to the growth of the coding and marking systems market. The increasing sales of bottled water, packaged food products, dairy products, and fruit juices has been driving the demand for coding and marking systems in the region. The increasing requirement for pharmaceutical packaging because of a number of factors is also leading to the rising demand for labels.

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The growing awareness regarding the advantages of citing drugs information on the packaging among manufacturers and increasing penetration of special packaging and blister packaging in the pharmaceutical industry is projected to drive the growth of the coding and marking systems market (https://www.psmarketresearch.com/market-analysis/coding-and-marking-market). Other than this, the demand from the automotive industry is also leading to the expansion of the market. The use of these systems is growing for avoiding the sales of counterfeit parts.

Hence, the market is growing due to the increasing applications of coding and marking systems in the food & beverages, pharmaceutical, and automotive industries.

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Vijay Kumar
***@psmarketresearch.com


Source: P&S Intelligence
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Filed Under: Business

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