NEW YORK, May 25, 2018 (GLOBE NEWSWIRE) -- According to the new market research report published by P&S Market Research, Germany coding and marking systems market is projected to reach $409.4 million by 2023, stringent government regulations regarding product safety and traceability have mandated the proper labeling of manufacturing date, ingredients list, nutrition facts, and manufacturer details on the primary and secondary packages of food and beverage (F&B) items; thus, fueling the market growth in the country.
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Based on technology, Germany coding and marking systems market is segmented into continuous inkjet, thermal transfer overprinting (TTO), thermal ink jet, drop on demand (DoD), print and apply labelers, and laser coding and marking. Of these, laser coding and marking is the fastest growing category in the market, with respective volume and value CAGRs of 6.0% and 6.8% during the forecast period. Laser coding printers provide readable text, graphics, and serial numbers along with 2D codes on different packaging cartons, metal, plastics, and flexible packaging. These properties of the technology is leading to a surge in its demand in the market.
On the basis of end user, German coding and marking systems market is segmented into F&B, electrical and electronics, automotive and aerospace, chemical, healthcare, and others. Of these, F&B was the largest end user category in terms of volume, contributing more than 35.0% in 2017. Rising sales of packaged food, bottled water, fruit juice, and milk drink has fueled the growth of the industry across the country. As packaged F&B industry is a major end user of coding and marking systems, increase in demand for packaged food and beverage has positively impacted the growth of the market.
Due to the presence of sophisticated automotive technology and major automotive manufacturers, such as Audi AG and Daimler AG (manufacturer of the Mercedes-Benz series), the country has the largest concentration of original equipment manufacturers (OEMs) of automobiles. In order to ensure identification and create protection against the threat of counterfeits, automobile manufacturers have started using scannable invisible anti-counterfeit printing inks and barcodes. As a result, the demand for advanced coding and marking systems has also increased among these manufacturers, thus providing ample growth opportunities for German coding and marking systems market growth.
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Some of the major players operating in the Germany coding and marking systems market are Hitachi Ltd., REA Elektronik GmbH, Domino Printing Sciences plc, KBA-Metronic GmbH, Dover Corporation, and Danaher Corporation.
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