Why are Coding and Marking System Sales Booming in India?

The surging requirement for making products traceable is fueling the demand for coding and marking systems in India. Moreover, the growing public awareness about the importance of mentioning drug information on the package, soaring popularity of blister packaging, and mushrooming use of packaging for ensuring safety, especially in the pharmaceutical industry, according to government regulations, are propelling the demand for coding and marking systems in the country. For example, the Food Safety Standards Authority of India (FSSAI) issued a regulation called the Food Safety and Standards (Organic Foods) Regulations in 2017.

This regulation came into effect on July 1, 2018. As per this regulation, manufacturers must print the ‘Jaivik Bharat” logo on their products. As coding and marking systems are extensively used in the manufacturing and packaging industries in India, the expansion of these industries is pushing up their sales in the country. The packaging industry is booming because of the soaring usage of innovative packaging methods such as flexible packaging, primarily due to the increasing requirements of the middle-class populace in the country.

Additionally, the growth of the e-commerce industry, on account of the rising internet penetration and increasing usage of smartphones, is also creating lucrative growth opportunities for the players operating in the Indian coding and marking systems market, thereby fueling the expansion of the market. As a result, the market revenue is predicted to rise from $49.8 million in 2019 to $136.5 million by 2030, while the market will exhibit a CAGR of 9.8% from 2020 to 2030. 

The most prominent companies in the Indian coding and marking systems market are Dover Corporation, Danaher Corporation, Control Print Limited, Domino Printing Sciences plc, RYNAN Technologies Pte Ltd., and Hitachi Ltd.

Key Findings of India Coding and Marking Systems Market Report

• Stringent packaging regulations increasing demand for coders and markers

• Coding and marking systems also being used to track products through supply chain

• Growing packaging and manufacturing sectors driving market growth

• TTO technology to witness fastest rise in popularity among users

• Market consolidated owing to presence of handful of players

• Digital printing solutions are key market trend

Read More: https://www.psmarketresearch.com/market-analysis/india-coding-and-marking-systems-market

Comments

Post a Comment

Popular posts from this blog

Saudi Arabia's Geospatial Market: Growth, Insights, and Key Trends for 2030

Image
The Saudi Arabian geospatial analytics market is poised to generate USD 414.8 million in 2024, with an anticipated CAGR of 9.5% from 2024 to 2030, potentially reaching USD 714.8 million by the end of the forecast period. This growth is largely attributed to the technology's application in visualizing and analyzing locations, movements, and patterns, which has become essential for developing smart cities and guiding infrastructure investment decisions. Geospatial analytics also benefits consumer services by aiding logistics companies in delivering goods precisely and efficiently. In transportation, the technology assists with understanding traffic flows and barriers, helping to improve traffic management. Saudi Arabia's strategic focus on infrastructure development further bolsters the market. Government initiatives like the MOMRA Smart City Program and Saudi Geological Survey (SGS) demonstrate a commitment to leveraging geospatial technologies to optimize resource utilization....
Read more

Surging Aircraft Sales Augmenting Demand for Thermal Spray Materials

Image
The mushrooming popularity of the aerial mode of transportation is fueling the expansion of the aerospace industry, which is, in turn, driving the worldwide sales of thermal spray materials. Moreover, the increasing defense expenditure of several countries, such as India, the U.S., Japan, and China is also propelling the growth of the aerospace industry. For example, as per various estimates, China will spend more than $1.1 trillion in aircrafts over the next 20 years.  As thermal sprays are extensively used in coatings, which are applied on turbo-machinery, such as high-pressure turbine seals, rotor-path linings, bearings, compressor seals, airframe, engine components, and oil seals, in order to improve fuel efficiency and fluid dynamics, reduce maintenance expenses, and prevent wear and tear, the soaring sales of both defense and commercial aircrafts are driving their demand across the world. Apart from the booming aerospace industry, the rising urbanization rate, especially in t...
Read more

U.S. Chatbots Market to Experience Robust Growth in Coming Years

Image
According to the latest market research study published by P&S Intelligence, the U.S. chatbots software market is on a robust growth trajectory, projected to expand from USD 1,107.9 million in 2024 to USD 6,232.5million by 2032 , with a compound annual growth rate (CAGR) of 24.3%. This growth is driven by the increasing demand for automation in customer service operations, where businesses are leveraging AI and natural language processing (NLP) to enhance user engagement and streamline service delivery. The growing prevalence of smartphones and social media platforms further accelerates chatbot adoption, especially as companies seek scalable solutions to improve customer support efficiency without significantly increasing operational costs. Technological advancements, including the integration of machine learning (ML) and AI into chatbots, are enabling more complex and personalized interactions. The contact center remains the largest application area, while mobile platforms repre...
Read more