India Coding and Marking Systems Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

India Coding and Marking Systems Market Size

India Coding and Marking Systems Market Trends & Growth Drivers

India To Become a Global Manufacturing Hub Is a Key Trend

• India has the potential to become a global manufacturing hub and provide numerous growth opportunities to industry participants.
• Packaging is now being viewed as critical for brands to effectively communicate to consumers that hygiene has been maintained, safety has been prioritized, and product quality has not been compromised.
• Along with this, the coding and marking integration software market in India is set to grow at an even higher rate owing to the increasing need for traceability and proving the authenticity of a product in an era characterized by counterfeits.
• Moreover, due to the large population and manufacturing demands, India is expected to emerge as a major market for coding and marking systems in the coming years.
• As a result of this, companies offering such systems and related software are investing heavily in scaling up their operations.

Growing Manufacturing and Packaging Industries Drive the Market

• Manufacturing has emerged as one of the high-growth sectors in India. The government has taken various initiatives to encourage a healthy environment for it. Thus, the growing manufacturing industry drives the market.
• The government has approved a production-linked incentive (PLI) scheme for 16 plants, for the promotion of active pharmaceutical ingredients (APIs), drug intermediates, and domestic manufacturing of key starting materials (KSMs). The establishment of these 16 plants would require a total investment of $47.01 million (INR 348.70 crore).
• The Indian Government, in the ‘Make in India’ campaign, has prioritized the food processing sector and is promoting investments in it. In addition, it has established 18 mega food parks and 134 cold chain projects to develop the food processing supply chain.
• In October 2021, the Agricultural and Processed Food Products Export Development Authority (APEDA) signed a memorandum of understanding (MoU) with the Indian Council of Agricultural Research - Central Citrus Research Institute (ICAR-CCRI), Nagpur, to boost the export of citrus fruits and the value-added products developed from them.
• In October 2021, the Union Minister of Home Affairs and Minister of Cooperation launched the ‘Dairy Sahakar’ scheme in Anand, Gujarat. Under it, financial support will be extended by the National Cooperative Development Corporation (NCDC) to eligible cooperatives for activities such as milk procurement, bovine development, processing, value addition, quality assurance, branding, marketing, packaging, transportation, storage, and export of milk and milk products, in tune with the overall objectives of doubling farmers’ income, under the wider Atmanirbhar Bharat initiative.

High Installation Costs and Operational Errors Are Major Challenges

•  Human error and negligence often harm the interests of industry players. In big manufacturing companies, laborers generally work in shifts and interact with machines. This leads to an increase in the margin for error as the printing process takes longer to learn.
• Moreover, it hampers the time and resources of businesses that could be used elsewhere for other productive work.
• In addition, coding and marking systems are very expensive, and also their installation is a complex process.
• All supply chain members, especially SMEs, may not have the financial resources to make the infrastructure needed to implement such systems. Thus, high operating cost is a key challenge for industry players.

India Coding and Marking Systems Market Analysis

Offering Insights

• The systems category is estimated to have held over 85% share in 2024 in the Indian coding and marking systems market.
• This is because coding and marking systems are widely used in various industries, including fast-moving consumer goods (FMCG), chemicals and agrochemicals, automotive, and pharmaceutical, to authenticate, track, and trace products along the supply chain.
• Whereas, the software solution category is expected to witness faster growth during the forecast period.
• Using serialization codes and barcodes, manufacturers can track their products throughout the supply chain. Those participating in the supply chain can identify shipments, packages, and even individual lots from the point of origin to the point of final delivery.
• These solutions also reduce the chances of counterfeiting and product diversions, and they can be used to identify tainted products during recalls.

Offerings covered in the report include:

• Systems (Larger Category)
• Software Solution (Faster-Growing Category)

End User Insights

• The FMCG category dominates the market and it also is expected to progress at the highest CAGR, of more than 14%, during 2024−2030.
• The food processing sector forms a major part of India’s economy, as the country harvests a variety of food products and further processes them for domestic consumption.
• India is the largest producer of milk, bananas, mangoes, guavas, papayas, ginger, and okra; the second-largest producer of wheat, rice, fruits, vegetables, tea, sugarcanes, and cashew nuts; and the third-largest producer of cereals, coconuts, lettuce, chicory, nutmeg, mace, cardamoms, and pepper worldwide.
• Thus, the rising consumer income, growing demand for healthy, packaged food, and increasing urbanization are leading to a surging consumption of these products, thereby driving the demand for such systems in the FMCG industry.
• In addition, the growing product safety and brand awareness, easier access to packaged food, and changing lifestyles have been the key growth drivers for the sector.
• Another key element driving the demand for FMCGs in India is the expanding youth population, particularly in urban areas. India has a huge number of young consumers, who make up the majority of the workforce, and since they have perpetual time restrictions, FMCG products are widely used.

End users covered in the report are:

• Automotive
• Fast-Moving Consumer Goods (FMCG) (Largest and Fastest-Growing Category)
• Electrical and Electronics
• Extrusion
• Chemicals and Agrochemicals
• Construction
• Pharmaceutical
• Others

India Coding and Marking Systems Market Share

The Indian coding and marking systems market is medium 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, they have been involved in product launches in order to stay ahead of their competitors.

India Coding and Marking Systems Market News

• In December 2022, Cajo Technologies Ltd. announced the launch of its new wholly-owned subsidiary, Cajo Technologies India Private Limited to manufacture world-class laser marking and coding solutions.
• In June 2022, Control Print Ltd. introduced Pench, a continuous inkjet printer. This is used in industries such as cable, steel, wire, and other ultra-fast high-speed applications, as it can print at a rate of 700 m/min.
• In January 2022, Markem-Imaje launched a 5940 G Touch Dry high-resolution inkjet coder.
• In March 2022, Domino Digital Printing Solutions made a significant investment by label converters into adding variable data printing of tracking codes.
• In October 2021, Markem-Imaje Group launched a new remote user interface (RUI) for the SmartDate X30 thermal transfer overprinting (TTO) system.