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 8.2% during the forecast period. The QR code is a type of matrix barcode or two-dimensional code label that holds 1000 times more information than traditional single dimensional bar. The QR code label holds a wide range of information that can be collected, stored, and used for wide range of applications. The QR code can be read by a specialty reader or by camera phones and thus, are finding applications across 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 development of waterproof labels in the market. Moreover, increasing demand for assets management, branding and advertisement, and online payments is expected to increase the demand for the market over the forecast period. On the other hand, limited penetration of smartphones in low income countries is expected to restraint the market growth during the forecast period.

Various Factors Driving the Market Growth

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

North America to lead the global market in 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, as well as favorable government policies, the Asia-Pacific region is predicted to expand at the fastest rate.

Global Market is led by the Sleeve Label segment in terms of Label Type

In consideration of label type, the market is bifurcated into Sleeve Label, Glue Applied Label, Pressure-Sensitive Label, 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 at a steady rate during the forecast period. 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 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 considerable share in 2019 and is expected to expand steadily during the forecast period. The digital printing technology segment is anticipated to offer lucrative opportunities during the forecast period.

Frequently asked questions about global industry

  • Which are the different Label Type of this market?
    Ans: Sleeve Labels, Glue Applied Label, Pressure Sensitive Labels and others are the four Label Type applicable in the market.
  • Name few prominent players in the global industry.
    Ans: Lintec Corporation, CCL Industries, Packtica SDN Bhd, Label Logic, Inc., Hibiscus PLC, Data Label Co. UK., Advanced Labels NW, Coast Label Company, Label Impressions Inc., and Consolidated Label & Co. are the key players leading this market.
  • Which is the fastest growing Printing Technology Segment for global industry?
    Ans: Flexographic has fastest growth at Printing Technology
  • Which is the leading regional market for global industry?
    Ans: North America has the largest share of the market
  • What will be the CAGR (2021 - 2027) of in global industry?
    Ans: The CAGR for this market is likely to reach over 8.2% during the forecast period
Choose License Type
Published Date:  Jun 2021
Category:  Information and Communications Technology
Report ID:   60382
Report Format:   PDF
Pages:   120
Rating:    4.4 (59)
Connect With Us
24/7 Research Support