The Food Safety and Standards (Organic Foods) Regulations, 2017, mandate the labelling of organic food products with "Jaivik Bharat" to distinguish them from non-organic ones. As per the Food Safety and Standards Authority of India (FSSAI), organic foods are produced through holistic agricultural practices that focus on soil health, bio-diversity, and chemical-free inputs. With the increasing focus of food and beverage companies on labelling their products to adhere to government regulations, there will be a significant surge in the consumption of coding and marking systems in India.
Moreover, the surging use of innovative packaging, especially flexible packaging, will help the Indian coding and marking systems market advance at a CAGR of 9.8% during 2020–2030. According to P&S Intelligence, the market was valued at $49.8 million in 2019, and it will generate $136.5 million revenue by 2030. The burgeoning demand for flexible packaging can be attributed to the evolving rural markets and booming middle-class population in the nation. Additionally, the expanding e-commerce sector will also create a huge requirement for innovative packaging solutions in India in the coming years.
In addition to pharmaceutical and food and beverage companies, automotive and aerospace, chemical, and electrical and electronics companies also use coding and marking systems to label their products. In recent years, end users have been replacing analog technologies with digital coding solutions to code, mark, and label a plethora of shipments and products without compromising the production speed. The shift toward digital coding solutions, owing to the ongoing Industry 4.0 revolution, helps manufacturers easily identify parts, shipments, cartons, devices, and pallets.
At present, the Indian coding and marking systems market is dominated by Dover Corporation, Control Print Limited, Domino Printing Sciences plc, and Danaher Corporation. These companies are primarily engaging in product launches to offer advanced systems to a greater number of customers. For example, in June 2020, Videojet Technologies Inc. introduced the Videojet 1280 continuous inkjet printer to reduce unplanned printer downtime. The printer also helps maintain the print quality and optimize uptime by constantly monitoring the environmental conditions and automatically adjusting the jetting parameters.
Thus, the toughening government regulations on labelling food products and increasing usage of innovative packaging solutions will encourage the adoption of coding and marking systems in India in the foreseeable future.
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