QR Code Labels Market by Label Type (Sleeve Label, Glue Applied Label, Pressure-Sensitive Label, Others) by Printing Technology (Flexographic, Digital Printing, Offset Lithography, Gravure Printing, Others) by End Use (Food & Beverage, Pharmaceuticals, Personal Care & Cosmetics, Others): Growth, Future Prospects & Competitive Analysis, 2015 - 2027

The global QR code labels market is analyzed to reach a market value of USD 940 million in 2027 from USD 309.7 million in 2020, at a CAGR of 8.2% during the forecast period. The QR code is a matrix barcode or two-dimensional code label that holds 1000 times more information than a traditional single-dimensional bar. The QR code label holds a wide range of information that can be collected, stored, and used for various applications. The QR code can be read by a specialty reader or by camera phones, thus finding applications across a wide range of applications. The manufacturers of QR code labels are adopting advanced technologies for printing QR code labels owing to rising demand fueled by growth in e-commerce, digital payment, and other similar applications.

Key Market Drivers and Restraints

The QR code manufacturers are focusing on strategies such as developing waterproof labels in the market. Moreover, increasing demand for assets management, branding and advertisement, and online payments are expected to increase the need for the market over the forecast period. On the other hand, limited penetration of smartphones in low-income countries is expected to restrain the market growth during the forecast period.

Various Factors Driving the Market Growth

The QR Code Labels Market is predicted to develop at a healthy rate across all geographies during the projected period. The adoption of digital payment methods in developing countries such as China, India, and Brazil are major factors contributing to the QR code labels market growth. Additionally, the proliferation of e-commerce platforms globally and rising demand from e-commerce platforms are anticipated to fuel the growth of QR code labels in the coming years.

North America to lead the global market in the geographic region

Because of the large production and demand for QR code labels, North America dominates the QR code label industry. Additionally, because of the easy availability of low-cost labor and resources and favorable government policies, the Asia-Pacific region is predicted to expand at the fastest rate.

The Sleeve Label segment leads Global Market in terms of Label Type.

Regarding label type, the market is bifurcated into Sleeve labels, Glue Applied labels, Pressure-Sensitive Labels, and Others. The glue applied label segment accounted for a prominent share of the global QR code labels market in 2019 and is anticipated to grow steadily during the forecast period. On the other hand, the pressure-sensitive labels segment is anticipated to be the fastest growing segment during the forecast period owing to high reliability and demand from wide applications.

Flexographic will dominate the global market in 2020 in terms of Printing Technology.

Flexographic, Digital Printing, Offset Lithography, and Gravure Printing are the various Printing Technologies used for QR code label printing in this market. The Flexographic segment held a considerable share in 2019 and is expected to expand steadily during the forecast period. In addition, the digital printing technology segment is anticipated to offer lucrative opportunities during the forecast period.

Frequently asked questions about global industry

Sleeve Labels, Glue Applied Label, Pressure Sensitive Labels and others are the four Label Type applicable in the market.

Flexographic has fastest growth at Printing Technology

North America has the largest share of the market

The CAGR for this market is likely to reach over 8.2% during the forecast period

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Published Date:  Jun 2021
Category:  Information and Communications Technology
Report ID:   60382
Report Format:   PDF
Pages:   120
Rating:    4.4 (59)
Delivery Time: 24 Hours to 48 Hours   
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