How is Rising Demand for Products Contributing to Growth of Indian Coding & Marking Systems Market?

India has witnessed a significant progress in its economy since 1990s. This has resulted in the rising disposable income and purchasing power of the residents of the country, indicating a huge improvement in living standards. Therefore, people are now spending on a variety of products ranging from packaged foods, cosmetics to pharmaceuticals and luxury items. The demand for packaged foods, such as fruit juice, bottled water, and processed food has risen considerably, which has given a major boost to the food & beverage industry in the country. Similarly, the pharmaceutical industry is also witnessing a rise in the product demand and people are becoming aware about the contents of pharmaceutical products, which is necessitating the mentioning of the drug-related information on the package. Further, stringent regulations pertaining to pharmaceutical manufacturing make it mandatory for manufacturers to provide such information on the packaging of the drug. These, are therefore leading to a high demand for coding and marking systems in the country. 

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These systems help provide product-related information, such as expiry and manufacturing dates, batch number, price, and other necessary information on the product packaging to end users. Coding and marking systems are extremely beneficial across various industries as they allow the identification and component tracking in different stages of production.  These systems are deployed in healthcare, food & beverage, chemical, electrical & electronics, and automotive & aerospace. Among all, the highest demand for these systems was generated by the food & beverage industry during 2013–2017. This was due to the stringent regulatory guidelines in the country regarding proper labeling on the product packaging displaying nutrition facts, manufacturer’s details, manufacturing and expiry dates, and ingredient list. Further, the demand for these systems would continue to remain the highest in the coming years. In a P&S Intelligence study, the Indian coding and marking systems market is predicted to grow at a 9.0% CAGR in the near future. 

Coding and marking systems are based on the following technologies: laser coding & marking, thermal ink jet, thermal transfer overprinting (TTO), drop on demand (DoD), continuous inkjet, print & apply labelers. During 2013–2017, among all the technologies, the highest deployed one was the continuous inkjet. This was attributed to the benefits offered by this technology, such as its ability to run for extended hours without requiring maintenance, high-speed printing, and ability to print characters on any material, and being cost-effective. These factors would continue to keep this technology the most in demand even in the coming years. 

Due to their advantages, digital printing solutions are becoming the next-big-thing in the Indian market. These printing solutions are capable of printing millions of characters in just a liter of ink. Additionally, digital printing is time-efficient as the ink used in these, dries quickly, thereby saving time. The technology is evolving and manufacturers are focusing on developing digital coding and marking solutions to make the whole process quick, cost-effective, and efficient.  This new shift in the coding and marking systems technology can be taken advantage of by manufacturers to generate higher revenues.