Growth of the Coding and Marking Systems Market in Germany

P&S Intelligence credits the growing demand for packaging materials in the pharmaceutical and food & beverage industries as the key driver for the German coding and marking systems market growth. Compared to $290.6 million in 2017, the sale of such equipment would likely generate $409.4 million in 2023, with the revenue for the players growing at a 5.7% CAGR between 2018 and 2023 (forecast period). This is because the details on the product packaging are printed by these systems; therefore, as the consumption of packaging material rises, so will the usage of coding and marking systems in the nation.