Published: December 2020 | Report Code: CM11475 | Available Format: PDF | Pages: 75
The Indian coding and marking systems market was valued at $49.8 million in 2019, which is expected to progress at a CAGR of 9.8% during the forecast period (2020–2030). The growth in the packaged food and beverage sector, coupled with the rise in investments in the pharmaceutical industry, in order to reduce the risk of lost-in-transit of medicated drugs and ensure the safety of the products, is the major factor contributing to the advance of the market.
However, the ongoing COVID-19 pandemic has had a negative impact on the Indian economy and manufacturing sector. The Indian coding and marking systems industry also witnessed a slight negative impact, primarily owing to the shutdown of several manufacturing facilities across the country. Since coding and marking systems are widely used on automotive components, electrical equipment, and chemical packaging, their usage witnessed a slight dip in the first two quarters of 2020.
Based on technology, the TTO category is expected to witness the highest CAGR in the coding and marking systems market during the forecast period, as this technology is ideal when a large amount of information has to be printed in a limited space. TTO printers are mostly used on the primary and secondary packages of confectionery and bakery products, nutraceuticals, pharmaceuticals, cosmetics, and other products packaged in flexible films.
Based on end user, the food and beverage industry is the largest category in the Indian coding and marking systems industry. Coding and marking procedures are performed to trace and identify food and beverage packages during the production and distribution processes and offer product-related information to consumers. A continuous increase in the demand for packaged food products, including wafers, snacks, processed foods, and bakery and confectionery items, is driving the penetration of coding and marking systems in the country’s food and beverage sector.
As with the ongoing fourth industrial revolution, the automation of traditional manufacturing and industrial practices is being done. Therefore, to identify shipments, parts, devices, cartons, and pallets, manufacturers need to label, code, and mark a wide range of products and shipments without sacrificing the production speed. Due to this, the availability of digital technologies in the Indian coding and marking systems market is making the analog technology obsolete.
For instance, in June 2020, Videojet Technologies Inc. launched its new Videojet 1280 continuous inkjet printer. It continuously keeps a track of environmental conditions and instinctively adjusts the jetting parameters to maintain a high print quality and maximize the uptime. In addition, food and beverage companies require precision, speed, and flexibility, which is where the digital technology proves to be more cost-effective in the long term. Such a shift in the user preference from analog technologies to digital coding and marking systems is therefore the key trend in the Indian coding and marking systems market.
In the pharmaceutical industry, the growing awareness regarding the citing of drug information on the package, increasing penetration of blister packaging, and rising usage of packaging to ensure safety, as per the government regulations, are driving the Indian coding and marking systems market growth. For instance, the Food Safety Standards Authority of India (FSSAI) issued a regulation, named the Food Safety and Standards (Organic Foods) Regulations, 2017, which came into effect on July 1, 2018. According to this regulation, producers need to have the “Jaivik Bharat” logo on their items, as per the norms mentioned.
The packaging industry in India is rapidly growing due to the increasing use of innovative packaging, especially flexible packaging. This is attributed to the evolving rural markets, along with the increasing middle-class population in the country. Additionally, the expansion in the e-commerce sector will provide enormous opportunities for retailing, which, in turn, will propel the packaging sector. Hence, factors such as the rising coding and marking system demand from the packaging industry, positive retail sector outlook, and strong growth in the food and beverage industry are expected to drive the Indian coding and marking systems market in the coming years.
|Base Year (2019) Market Size||$49.8 Million|
|Forecast Period (2020-2030) CAGR||9.8%|
|Report Coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Value Chain Analysis, Impact of Covid-19, Benchmarking of Key Players, Market Share Analysis, Companies’ Strategic Developments, Company Profiling|
|Market Size by Segments||By Technology, By End User|
|Secondary Sources and References (Partial List)||All India Federation of Master Printers, Bombay Master Printers Association, Digital Coding & Tracking Association, Flexible Packaging Association, Food Processing and Packaging Machinery Association, India Brand Equity Foundation, Indian Corrugated Case Manufacturers' Association, Indian Flexible Packaging and Folding Carton Association|
The Indian coding and marking systems market is consolidated in nature, with the presence of major players such as Dover Corporation, Danaher Corporation, Domino Printing Sciences plc, and Control Print Limited.
In recent years, players in the Indian coding and marking systems market have pursued product launches in order to stay ahead of their competitors. For instance:
The global India coding and marking systems market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Technology
Based on End User
In 2030, the Indian coding and marking systems market will generate $136.5 million.
The effect of COVID-19 on the Indian coding and marking systems industry has been slightly negative.
Continuous inkjet is the preferred technology among Indian coding and marking systems market end users.
The biggest Indian coding and marking systems industry trend is the adoption of digital printing technologies over the analog ones.
To gain more customers and revenue, companies in the Indian coding and marking systems market are unveiling new and advanced products.
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