The India coding and marking systems market held a market value of $45.8 million in 2018, and it is expected to reach $77.0 million by 2024, demonstrate a CAGR of 9.0% during the forecast period (2019–2024). On the basis of end user, food & beverage industry dominated the market, with a volume share of more than 55% in 2018.

The Indian coding and marking systems market is expected to witness robust growth in the coming years, owing to the growing food and beverage industry. According to a leading industry player, coding and marking have become a legal requirement in the current scenario, owing to their traceability factor. For instance, printed batch numbers help identify batches in tracking and provides support in case of a product recall.

Replacement of analog technologies with digital coding solutions is one of the major trends in the market

Historically, coding and marking requirements in Indian manufacturing and processing sector were performed by systems backed by analog technologies. In recent years, this situation has changed owing to increase in complexity in coding and marking requirements for product packaging, availability of digital coding and marking systems offered by global companies and obsolesce of analog technology. For example, currently, continuous inkjet printers are preferred over manual systems by users for printing on packages and bottles. Likewise, several other end users switching to digital coding solutions from traditional analog technologies.

Growth in manufacturing and packaging industries is one of the major driving factors in the market

The Indian manufacturing and packaging industries are registering a significant growth, which is playing a major role in driving the coding and marking systems market. The country’s packaging industry is rapidly growing due to the increasing use of innovative packaging and growing flexible packaging market. This is attributed to the changing rural markets along with the increasing middle-class population in the country. Additionally, boom in e-commerce offering a huge growth potential for retailing, further giving boost to the packaging sector. Hence, factors such as rising demand from chemical packaging industry, positive retail sector outlook, high growth in food industry are expected to drive the Indian coding and marking market in the coming years