India Coding and Marking Systems Market Present Scenario And The Growth Prospects 2030

The Indian coding and marking systems market will display a healthy CAGR of around 12% between 2021 and 2030, primarily on account of the surging need for traceability across industries and the increasing implementation of government regulations on product labeling. According to P&S Intelligence, the industry was valued at $42.7 million in 2021, and it will generate $127.6 million revenue by 2030. Additionally, the booming packaging and manufacturing industries and the increasing application of coding and marking systems are also key contributors to the market growth.

One of the primary growth drivers of the market is the ongoing boom in the manufacturing and packaging industries. To create a healthy environment for these industries, the Government of India is taking numerous initiatives, such as the 'Make in India' campaign and the production-linked incentive (PLI) scheme.  Under the 'Make in India' scheme, the government has prioritized the food processing industry, which is one of the key users of coding and marking systems for product labeling. Likewise, the PLI scheme supports the pharmaceutical sector, which uses such systems for labeling pharmaceutical products.

The FMCG category, under the end user segment, accounted for the largest share in the Indian coding and marking systems industry in 2021, due to the rising public awareness about product safety and brands. In addition, the increasing consumption of packaged food products, changing lifestyles, and burgeoning demand for FMCG products on account of the soaring youth population, especially in urban areas, will also steer the growth of the market in this category in the coming years.

At present, the Indian coding and marking systems market is consolidated, due to the presence of a few key players, such as Kishu Giken Kogyo Co. Ltd., RYNAN Technologies Pte Ltd., Hitachi Ltd., Control Print Limited, Dover Corporation, Danaher Corporation, and Domino Printing Sciences plc. In recent years, these players have been actively involved in product launches to gain a competitive edge. For instance, in November 2020, Domino Printing Sciences plc introduced the K600G, a blister foil and web digital printing solution, for product-level sterilization in the pharmaceutical sector. 

Therefore, the flourishing industrial and packaging sectors and the soaring population will propel the demand for coding and marking systems in India.