Report Code: 11475 | Available Format: PDF | Pages: 107
From around $42.7 million in 2021, the Indian coding and marking systems market size will advance at a CAGR of over 12% during 2021–2030, primarily as a result of the stringent government regulations on product labeling and increasing traceability requirements across industries.
Another major driving factor for the market is the growing manufacturing and packaging industries. In addition to this, the increasing application of these machines in the food and beverage and pharmaceutical industries is driving the market growth.
As a result of the slowdown in manufacturing activities in 2020 due to the COVID-19 pandemic, the demand for these systems dropped. Since these 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. However, the market is set to recover with the expected increase in the demand for food and beverages as well as cosmetics and personal care products, as there is a shift in focus from loose to packaged, branded items.
The pandemic even led to the growing demand for the proper packaging of products that were being marketed as basic or essential. Thus, the growth in these industries led to a high demand for coding and marking systems in India.
The systems category held over 90% share in 2021 in the market, based on offering. This was 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.
Report Attribute | Details |
---|---|
Historical Years |
2015-2021 |
Forecast Years |
2022-2030 |
Market Size in 2021 |
$42.7 Million (Estimated) |
Revenue Forecast in 2030 |
$127.6 Million |
Growth Rate |
12% CAGR |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Country Breakdown; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Segments Covered |
By Offering; By End-User |
The FMCG category is expected to progress with a CAGR of more than 13% during 2021-2030. The food processing industry forms a major part of India’s economy owing to the variety of food products that the country harvests and further processes 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.
Manufacturing has emerged as one of the high-growth sectors in India. The Government of India has taken several initiatives to promote a healthy environment for it. Some of the notable initiatives and developments are:
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, they have pursued product launches in order to stay ahead of their competitors. For instance:
The Indian coding and marking systems market report offers comprehensive market segmentation analysis along with market estimation for the period 2015–2030.
Based on Offering
Based on Systems
Based on End User
In 2030, the coding and marking systems market in India will value $127.6 million.
Based on end user, the Indian coding and marking systems industry is dominated by the FMCG sector.
The government is propelling the coding and marking systems market in India by giving financial support to the manufacturing sector and implementing strict regulations on product labelling.
The COVID-19 pandemic had a mixed impact on the Indian coding and marking systems industry.
The coding and marking systems market in India is consolidated.
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