India Coding and Marking Systems Market to Witness 8.9% CAGR During 2019–2024

The Indian coding and marking systems market are predicted to grow at 8.9% CAGR during the forecast period with the market size reaching USD 499.3 million by 2024. The increasing manufacturing sector, pharmaceutical sector, food and beverages industry, increasing need for product authentication and brand protection, and packaging industry are the major factor contributing towards the growth of the Indian coding and marking systems market.

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Increasing consumer awareness regarding the product details and the booming e-commerce sector is also driving the growth of the Indian coding and marking systems market. With the increase in the e-commerce sector, need for innovative and flexible packaging is tremendously increasing, thus increasing the packaging industry significantly. This in turn, increases the demand for coding and marking systems in packaging industry. In addition, growing consumer awareness towards the manufacturing and expiry date of product, and information related to ingredients, thus increasing the demand of coding and marking systems in the food and beverages industry.

Based on technology, the coding and marking systems market is categorized into continuous inkjet, thermal transfer overprinting, thermal inkjet, drop on demand, print & apply labelers, laser coding & marking, and valve jet & hot melt inkjet, of which continuous inkjet held the largest share in the Indian coding and marking systems market.

On the basis of end user, the coding and marking systems market is categorized into food and beverages, electrical and electronics, automotive and aerospace, chemicals, healthcare, and others. The food and beverage industry is estimated to be the largest end-user category in the market in 2018. This is primarily due to the strict government regulations towards marking information on the food and beverage products.

India is observed to witness significant growth in the market during the forecast period. Significant growth in the packaging industry (due to the easy availability of raw materials), plays a major role in driving the growth of the Indian coding and marking systems market.

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Domino Printing Sciences Plc, Videojet Technologies Inc. (subsidiary of Danaher Corporation), MarkemImaje S.A. (subsidiary of Dover Corporation), and Control Print Limited, having a combined market share of 80.0% – 90.0% in the Indian coding and marking systems market.

Some of the major players operating in the Indian coding and marking systems market are Danaher Corporation, Dover Corporation, Domino Printing Sciences plc, Control Print Limited, and Hitachi Ltd.

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