Asia-Pacific is expected to witness the fastest growth at a CAGR of 8.4% during the forecast period with its market size set to reach USD 2.1 billion by 2024. The market growth in the region is due to the rapid upsurge of the food and beverage industry, increasing demand for packaged products and implementation of several stringent rules portrayed by the government agencies in various countries of this region.

Also, the North American coding and marking systems market size was valued at USD 800.3 million in 2017. The region is further predicted to observe a CAGR of 7.3% during the forecast period in the global market owing to technological upgradation and enhancing expenditure on research and development activities.