The food and beverage industry uses coding and marking systems on the primary and secondary packages of snacks, confectioneries, dairy items, baked items, alcoholic and non-alcoholic drinks, and other products. Therefore, with the growing demand for food and beverage products and stringent regulations regarding packaging and labeling, the Indian coding and marking systems market is projected to reach $136.5 million by 2030, with a CAGR of 9.8% during the forecast period (2020–2030).
The outbreak of the COVID-19 has had a slight negative impact on the coding and marking industry, majorly due to the supply chain disruptions in the first-half of 2020. This was itself owing to the nationwide lockdown imposed by the government in order to curtail the spread of the virus, which, in turn, created a supply–demand gap in the industry.
Based on technology, the Indian coding and marking systems market is categorized into continuous inkjet, thermal transfer overprinting (TTO), drop on demand (DoD), thermal inkjet, print and apply labeling, laser coding and marking, and others. Among these, the continuous inkjet category dominated the market in 2019. Continuous inkjet printers offer several benefits, such as high-speed printing, the ability to print characters on virtually any material and run for long hours with minimum servicing requirement, and cost-effectiveness.
Further, on the basis of end user, the Indian coding and marking systems market is categorized into food and beverage, electrical and electronics, automotive and aerospace, chemical, healthcare, and others. The food and beverage category is expected to witness the fastest growth in the market during the forecast period. The stringent government regulations across the country regarding safety and traceability mandate the proper labeling of the manufacturing date, nutritional facts, ingredient list, and manufacturer details on the primary or secondary packages of food and beverage items, thereby resulting in a high demand for these systems in the food and beverage industry.
Players in the Indian coding and marking systems market are actively pursuing product launches in order to enhance their market presence. For instance, in September 2020, Domino Printing Sciences plc launched the N730i digital label press in a live virtual broadcast. The system incorporates the Brother BITSTARTM 1200dpi piezo print head, SunLight graphical user interface, and latest automated Domino i-Tech intelligent Technology features: i-Tech SetAlign and i-Tech CleanCap2. The system is also available in India.
In the same vein, in May 2020, Linx Printing Technologies, a subsidiary of Danaher Corporation, launched two continuous inkjet printers: Linx 8820 and 8840. These systems are designed to reduce the total cost of ownership for customers in India.
Major players operating in the Indian coding and marking systems market are Domino Printing Sciences plc, Danaher Corporation, Dover Corporation, Control Print Limited, Hitachi Ltd., and RYNAN Technologies Pte Ltd.