India Coding and Marking Systems Market Report 2022-2030 - Replacement of Analog Technologies with Digital Coding Solutions Gaining Momentum - ResearchAndMarkets.com
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DUBLIN--(BUSINESS WIRE)--The "India Coding and Marking Systems Market Report - By Offering, Systems, End User - Revenue Estimation Through 2030" report has been added to ResearchAndMarkets.com's offering.
The Indian coding and marking systems market value is set to increase to $127.6 million by 2030 from an estimated $42.7 million in 2021, at a CAGR of over 12% during 2021-2030.
The key reason behind it would be the rapid growth of the food and beverage industry, where these machines are a government mandate. Therefore, the rising demand for packaged food and beverages, as a result of India's growing economy, is pushing up the demand for coding and marking systems.
This demand was further highlighted during the COVID-19 pandemic, which drove the sale of packaged and pre-cooked food. With people forced indoors, the footfall at grocery shops decreased, and online orders for food and beverage items rose, thereby propelling the requirement for high-quality packaging. The government mandates the proper labeling of all such products with the ingredient list, manufacturing and expiry dates, nutrient information, and manufacturer details.
Encouraged by the growth of various industries in the country, printer companies are expanding their manufacturing output and product portfolio. For instance, Markem-Imaje Group (a Dover Corporation subsidiary) inaugurated a new office and factory in Bhiwadi, Rajasthan, in November 2020. The complex houses printer and printing ink production facilities, sampling centers, and laboratories.
Similarly, Domino Printing Sciences plc, a key Indian coding and marking systems market player, introduced a UV-curable black ink for the food and beverage industry in April 2020.
The UV97BK ink complies with the safety standards implemented on food packaging and works with inkjet printers, the most-popular of all coding and marking systems in the country currently. Other key companies in the industry are Danaher Corporation, Control Print Limited, RYNAN Technologies Pte Ltd., Hitachi Ltd., and Kishu Giken Kogyo Co. Ltd.
Key Findings of India Coding and Marking Systems Market Report
- The actual coding and marking systems witness higher sales compared to the software because of their wide usage in a range of industries, including FMCG, pharmaceuticals, chemicals, automotive, and electrical & electronics.
- Most Indian coding and marking systems market end users prefer printers based on the continuous inkjet technology, as it enables high-speed printing, can work on virtually any material for long hours, has minimum servicing requirements, and is cost-effective.
- FMCG companies are the largest users of coding and marking systems and software because of the stringent government mandates on them to provide explicit product details on the packaging.
- Users are now shifting to digital technologies from analog ones because digital printing solutions enable high-volume printing at high speeds.
- The manufacturing sector is a lucrative opportunity area for Indian coding and marking systems market players as the production machinery and its individual components are now being extensively coded for tracking and tracing purposes.
- Moreover, the Indian government is taking numerous initiatives to boost the domestic manufacturing of FMCG and pharma products, electronics, and automobiles, all of which require proper coding and marking.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Analysis Period
1.5 Market Data Reporting Unit
1.6 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Currency Conversion Rates
2.6 Assumptions for the Study
2.7 Notes and Caveats
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 by Offering
4.1.1 by Software Solution
4.1.2 by Technology
220.127.116.11 Continuous Inkjet
18.104.22.168 Thermal Inkjet
22.214.171.124 Print and Apply Labeling
126.96.36.199 Laser Coding and Marking
4.2 by End-user
188.8.131.52 Automotive Ancillaries
184.108.40.206 Personal Care Products
220.127.116.11 White Goods
18.104.22.168 House Care Products
4.2.3 Electrical and Electronics
4.2.5 Chemical & Agrochemicals
22.214.171.124 Small Pouches/Packaging Chemicals
4.3 Value Chain Analysis
4.4 Market Dynamics
126.96.36.199 Replacement of Analog Technologies With Digital Coding Solutions
188.8.131.52 Stringent Government Regulations and Increasing Traceability Requirements
184.108.40.206 Growing Manufacturing and Packaging Industries
220.127.116.11 Increasing Application of Coding and Marking Systems in Food and Beverage Industry
18.104.22.168 Impact Analysis of Drivers on Market Forecast
22.214.171.124 High Aftersales Service Cost
126.96.36.199 Capital-Intensive Nature of Systems
188.8.131.52 Impact Analysis of Restraints on Market Forecast
184.108.40.206 Evolution of Digital Printing Solutions
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Intensity of Rivalry
4.5.4 Threat of New Entrants
4.5.5 Threat of Substitutes
4.6 Impact of Covid-19
Chapter 5. India Market Size and Forecast
5.1 Market, by Offering
5.1.1 Offering Market, by Systems
5.2 Market, by End-user
5.2.1 Fmcg Coding and Marking Systems Market, by Type
5.2.2 Construction Coding and Marking Systems Market, by Type (2015-2030)
5.2.3 Chemicals and Agrochemicals Coding and Marking Systems Market, by Type
5.2.4 Automotive Ancillaries Coding and Marking Systems Market, by Type
5.3 Integration Software Market, by End-user
Chapter 6. Competitive Landscape
6.1 Competitive Benchmarking of Key Players
6.1.1 Competitive Benchmarking of Key Coding and Marking System Manufacturers
6.1.2 Competitive Benchmarking of Key Coding and Marking Software Solutions Providers
6.1.3 List of Potential Distributors
6.2 Market Share Analysis of Key Players
6.3 Recent Strategic Developments of Key Players
6.3.1 Facility Expansions
6.3.2 Product Launches
Chapter 7. Company Profiles
- Danaher Corporation
- Dover Corporation
- Domino Printing Sciences plc
- Control Print Limited
- Hitachi Ltd.
- Rynan Technologies Pte Ltd.
- Kishu Giken Kogyo Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/m46dre
Laura Wood, Senior Press Manager
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First published on Thu, May 5, 2022
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