Systems Category Dominates India Coding and Marking Systems Market With 90% Share

NEW YORK - Dec. 14, 2022 - PRLog -- The India coding and marking systems market, in 2021, generated $42.7 million, and it is expected to grow with a rate of 12% from 2021 to 2030, to reach $127.6 million by 2030, attributed to the strict regulations of the government considering the product labelling and enhanced traceability. The rise in the number of manufacturing and packaging facilities drives the market. The rise in the usage of such equipment in pharmaceutical and, food and beverage industries drive the market.

The India coding and marking systems market is dominated by systems with a 90% share, attributed to wide usage of these machines in numerous industries. It includes pharmaceutical, automotive, chemicals, agrochemicals and FMCG manufacturing entities, due to facilitation of coding and marking systems to facilitate the tracking, tracing and authentication of products. The positive market outlook signifies the increased opportunities in near future with mass production of coding and marking systems to cater the increased demand.

The FMCG category is likely to witness highest growth rate in the market. The contribution of food processing companies to India's economy is significant. India is the most-significant producer of agri-dairy products such as guavas, mangoes, papayas, okra, ginger, bananas, and milk. It also occupies the second spot on the list of fruit, vegetable, wheat, tea, cashew nut, and sugarcane producers. The increasing demand for nutritious packaged food, attributed to rapid urbanization leads to market expansion.

The penetration of manufacturing and packaging industries is likely to drive the India coding and marking systems (https://www.psmarketresearch.com/market-analysis/india-co...) market. The initiatives led by Indian government to promote environment safety, leads to market proliferation. For instance, Government of India approved a scheme to establish 16 plants to promote the manufacturing of key starting materials or drug intermediates and APIs in the country. Similarly, in March 2021, GOI announced an investment of $1 billion to each semiconductor companies to establish manufacturing units, considering the expansion of the smartphone assembly industry in India and enhanced electronic supply chain.

Thus, the expansion of the manufacturing and packaging industries in the region and rising trend of launching new products by key market players leads to market boom.