QR Code Labels Market is expected to reach US$ 3.5 billion by year 2033 | Future Market Insights, Inc.

QR Code Labels Market poised for significant growth, driven by security demands, data capabilities, and diverse industry applications.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 16, 2023 /EINPresswire.com/ -- The QR code labels market to reach US$ 3.5 billion by 2033, growing at an 8.7% CAGR between 2023 and 2033. In 2023, the QR code market to be worth US$ 1.5 billion.

One of the main drivers to propel market revenue growth is the growing adoption of QR code labels for safe and rapid payments, the availability of a wealth of product information from the codes, and the expanding demand for QR code labels as anti-counterfeiting solutions.

QR code labels are supported by every label printer now on the QR code labels market, are simple to label, can be read fast, and are generated using smart phone platforms, which is predicted to fuel market revenue development in the next years.

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Market Opportunities for Businesses in QR Code Labels

Companies now have new chances to develop direct mail campaigns that incorporate QR codes to improve customer experience and hasten the transition to a digital world. Companies can use QR code labels to improve pre- and post-purchase engagement and confirm product authenticity.

This further boosts preference for QR code payment and provide fresh opportunities for key companies in the QR code labels market to strengthen payment and shopping experience. QR code labels at checkout counters for payments can minimize contact, result in faster, safer, and secure payments, and fuel the trend of shopping-on-the-go.

Asia Pacific Maintains the Leading Revenue CAGR Position

Due to rising use of linked packaging and on-pack QR codes, as well as rising consumer preference for QR code labels on e-commerce and food & beverage packaging, the Asia Pacific QR code labels market revenue to grow at a quick pace over the course of the forecast period. The expanding application of QR code labels to transform standard packaging into interactive packaging that offers essential information about completed goods.

Demand for QR code labels in the area is rising as a result of consumers using them to access more product information, digital wallets, maps, restaurant menus, and digital entertainment content.

Another factor to contribute to the QR code market revenue growth in the future is the growing tendency of customers favouring linked packaging experiences like augmented reality, near-field communication, Radio Frequency Identification (RFID), and smart barcodes to access product information.

Flexographic May Lead Market

QR code label printing in the market utilizes various technologies such as flexography, digital printing, offset lithography, and gravure printing. Flexography, with a substantial market share from 2023 to 2033, is projected to experience significant growth during this period.

It is projected that during the forecast period, the digital printing technology segment in the QR code labels market to present profitable chances.

Key Takeaways

Flexographic printing may develop at an 8.5% CAGR in the printing technique category throughout the projection period.

From 2023 to 2033, the pressure sensitive labels segment in the label type category may rise at an 8.7% CAGR.

The QR code market in the United States to expand at a 5.4% CAGR to US$ 568.8 million by 2033.

Germany's market is set to grow at a 5.5% CAGR to US$ 124.0 million by 2033.

The France market climbs at an 8.3% CAGR and to reach US$ 138.3 million by 2033.

The China QR code market to blossom at a CAGR of 12.1%, reaching US$ 645.2 million by 2033.

By 2033, the Japan market to reach at a CAGR of 10.3% and reach US$ 277.1 Million.

Competitive Landscape

Key Players

Packtica SDN BHD
Label Logic, Inc.
Hibiscus plc
Lintec Corporation
CCL Industries Inc.
Advanced Labels NW
Coast Label Company
Data Label Co. United Kingdom
Label Impressions Inc.
PPG Industries
Consolidated Label & Co.
Fastroll Labels Sdn. Bhd
Multi-Color Corporation
Brady Corporation
Herma Gmbh
Bizerba Group
Scanindo Interprinting
Exel Print
MPI Label Systems Inc.
Holo Security Technologies

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Recent Development

Acquisitions

CCL Industries Inc. announced the acquisition of McGavigan Holdings Ltd., a privately held company specialising in 'in mould' decorative components for automobile interiors, in January 2022.

Lintec Corporation announced in April 2021 that it has acquired Duramark Products, Inc., situated in South Carolina, United States. The company manufactures and distributes a variety of adhesive products.

Key Segments

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

By Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific
Middle East and Africa

Author:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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