According to FMI, the CAGR for the QR code market between 2023 and 2033 is predicted to reach an astounding 8.9%, up from the CAGR of 7.5% between 2017 and 2022. This is a result of an increase in demand for QR code labels in the food and beverage and pharmaceutical industries.
Because they allow for rapid access to information by just scanning a small label with a smartphone, labels with QR codes are becoming more and more popular. A smartphone’s camera may use a two-dimensional barcode on these labels to read it and connect the user to a website, product specifications, or any other information that the label is linked to. Using QR codes on labels is common in a variety of industries, including retail, food and beverage, and healthcare.
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The retail sector is predicted to be the primary end-user of QR code labels. These labels are used by retailers to provide customers with additional product information, such as ingredient lists, nutritional information, and customer reviews. Moreover, QR code labels can be used to link to special offers and promotions, which may boost sales. The food and beverage industry is a prominent end-user of QR code labelling. Restaurants use these labels to inform customers about the menu, nutrition, and allergies.
The use of QR code labels comes with several challenges. A major challenge is the ignorance of the buyer. Many people are still unaware of how to read or scan QR codes. This might make QR code labels less useful as a marketing tool. Also, some customers might worry about how scanning QR codes could affect their privacy and security.
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Despite these challenges, the QR code labels market is expected to continue to grow in the coming years. As more people become familiar with QR codes and their benefits, the demand for these labels is likely to increase. The ability of QR code labels to provide quick and convenient access to information is likely to make them an essential tool in various industries, from retail to healthcare.
Key Insights Drawn from Report –
- Pressure-sensitive QR code labels remain an attractive segment, globally, across multiple industrial verticals.
- Adoption across the F&B industry estimated to gather momentum, boosting sales of QR code labels in the near future.
- Anti-counterfeiting applications are projected to uplift sales of QR code labels in automotive sector.
- Soaring smartphone sales and the thriving retail sector are indirectly (positively) impacting the QR code labels landscape.
- China, with nearly 40% value share in Asia Pacific market, remains the revenue growth engine for regional QR code labels marketplace.
- North America’s market for QR code labels is slated to demonstrate exceptional growth in the revenue, in coming years.
- Globally and regionally leading QR code labels manufacturers are likely to eye lucrative investment pockets across Asia Pacific, and Middle East & Africa.
Frequently Asked Questions
- How much is the global QR Code Labels market worth?
- At what CAGR is the QR Code Labels market projected to grow in the forecast period (2022 to 2027)?
- Which is the leading segment in the QR Code Labels market?
- What are the key factors driving the market?
- Who are the leading players in the market?
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Key Players:
- Packtica SDN BHD
- Label Logic, Inc.
- Hibiscus plc
- Lintec Corporation
- CCL Industries Inc.
- Advanced Labels NW
- Coast Label Company
- Data Label Co. UK
QR Code Labels Market by Category
By Label Type :
- Sleeve Labels
- Glue Applied Labels
- Pressure Sensitive Labels
- Other Labels
By Printing Technology :
- Flexographic Printing
- Digital Printing
- Offset Lithography
- Gravure Printing
- Other Printing Technology
By End Use :
- Food & Beverage
- Pharmaceuticals
- Personal Care & Cosmetics
- Automotive
- Homecare & Toiletries
- Chemicals
- Industrial
- Others
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