Turkey Coding and Marking Systems Market Overview
Turkey coding and marking systems market is estimated to account for $76.4 million in 2017, and is projected to exhibit a CAGR of 7.9% during the forecast period. The growing demand for coding and marking systems for printing manufacturer’s details, manufacturing and expiry date, ingredient list, and other details of the products in the food and beverage industry is driving the growth of the market.
Turkey Coding and Marking Systems Market, BY END USER, Units (2013-2023)
On the basis of technology, the Turkey coding and marking systems market is segmented into continuous inkjet, laser coding and marking, thermal ink jet, drop on demand, print and apply labelers, thermal transfer overprinting, and others. Other technologies for coding and marking include valve jet and hot-melt inkjet. Continuous inkjet technology is expected to be the dominant category in terms of share, throughout the forecast period. The high level of penetration of these printers in the food and beverage industry is the major factor driving the growth of this category in the market for coding and marking equipment in Turkey.
On the basis of end user, the Turkey coding and marking systems market is segmented into food and beverage, electrical and electronics, automotive and aerospace, chemical, healthcare, and others. ‘Others’ include coding and labelling of cosmetics and personal care products, textiles, and other packaged consumer goods. On the basis of value, the food and beverage category has been recording the highest revenue in the market so far, with contribution of more than 45.0% in 2017. Owing to stringent government regulations, it has become mandatory for companies to print manufacturing details on food and beverage packages. This in turn is driving the use of coder and printers across the food and beverage industry in Turkey.
Turkey Coding and Marking Systems Market Dynamics
The major drivers identified in the Turkey coding and marking systems market are the growing applications of coding and marking products in the food and beverage industry, and rising demand from the automotive industry.
Growing applications of printers and coders from the food and beverage industry is the principal factor driving the coding and marking systems market in Turkey. Food and beverage industry captures the largest market mainly due to high demand at customers’ end. According to TurkStat, in 2015, there were around 42,030 food processing and 499 beverage producing enterprises in the country. As packaged food and beverage industry is one of the major end users of coding and marking products, increase in demand for packaged food and beverages is positively impacting the growth of the market.
The price of coding and marking equipment depends on its specifications, level of technology integration, applications, size, and nature of consumables used. Due to such wide criteria, a significant amount of variance is observed when it comes to the pricing of coding and marking equipment. For example, small character printer for primary packaging may cost lower than large character printer used for secondary packaging. In industrial setting, a high-end thermal transfer overprinter or any other type of printer may cost many thousand dollars. The relatively high price of coders and printers has slightly dented the growth potential of the Turkey coding and marking systems market.
Turkey Coding and Marking Systems Market Competitive Landscape
Some of the major players operating in the coding and marking systems industry of the country include Danaher Corporation, Hitachi Ltd., Dover Corporation, Matthews International Corporation, Domino Printing Sciences plc, and Savema Markalama ve Kodlama Makinalari San. Tic. Ltd. Sti. (Savema).