QR Code Labels Market Size, Share, Growth, and Industry Analysis, By Type (Flexographic Printing, Digital Printing, Offset, Gravure, Other), By Application (Inventory Management, Marketing & Advertisement, Mobile Payments, Personal Use), Regional Forecast to 2028

Updated On: 08 April 2024

QR Code Labels Market Report Overview

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The global QR code labels market size was USD 965.7 million in 2022. As per our research, the market is expected to reach USD 1339.1 million in 2028, exhibiting a CAGR of 5.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with QR code labels market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

QR code labels are physical labels or stickers that contain a Quick Response (QR) code. A QR code is a type of two-dimensional barcode that can be scanned using a smartphone or a QR code reader to quickly access information or perform certain actions.

QR code labels can be used on product packaging to provide detailed information about the product, such as ingredients, manufacturing date, expiry date, and nutritional facts. Scanning the QR code allows consumers to access this information quickly.     QR codes are used in marketing and advertising campaigns to engage customers. Scanning the QR code can lead users to websites, promotional videos, social media profiles, or special offers. QR codes are often used on event tickets or passes for concerts, conferences, and other gatherings. Scanning the QR code at the entrance allows for easy and secure verification of the ticket's authenticity.

COVID-19 Impact

"Pandemic Increased the Demand for Market"

The pandemic accelerated the adoption of contactless technologies to minimize physical contact and prevent the spread of the virus. QR codes became an essential tool for businesses and individuals to access information, make payments, and facilitate transactions without the need for physical contact. QR codes were extensively used for contact tracing and health screening purposes during the pandemic. Many businesses, venues, and public spaces implemented QR code-based systems to collect visitor information, track potential COVID-19 exposures, and enforce safety protocols. This increased the demand for QR code labels that could be easily scanned and integrated into existing systems.  With lockdowns and restrictions on physical retail, e-commerce experienced a surge in demand. QR codes played a crucial role in e-commerce by providing a seamless and secure way to link physical products with online information, promotions, and transactions. QR code labels became essential for tracking and verifying products, ensuring authenticity, and enabling efficient supply chain management.

Latest Trends

"Contactless Solutions to Fuel Market Growth"

The COVID-19 pandemic accelerated the adoption of contactless technologies, including QR codes. Businesses started utilizing QR codes to provide touchless experiences, such as contactless payments, menu scanning in restaurants, and product information retrieval. QR (Quick Response) codes have gained significant popularity in recent years due to their versatility and ease of use. They are being widely adopted in various industries, including retail, logistics, healthcare, and advertising.  QR codes offer an efficient way to manage and access large amounts of data. They can be used to store product information, track inventory, provide instructions or manuals, and enable quick access to websites or online content. QR codes are no longer limited to the traditional black and white squares. Companies have started incorporating branding elements, colors, and designs into QR codes to make them visually appealing and aligned with their brand identities. Customized QR codes are used for marketing campaigns and promotional materials.

QR Code Labels Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into flexographic printing, digital printing, offset, gravure, other.

• By Application Analysis

Based on application, the market can be divided into inventory management, marketing & advertisement, mobile payments, personal use.

Driving Factors

"Increasing Smartphone Penetration to Stimulate Market Growth"

The widespread availability of smartphones with built-in QR code scanning capabilities has significantly boosted the use of QR codes in various applications. As more people own smartphones, the demand for QR code increases, driving QR code labels market growth. QR codes provide a convenient and contactless way to access information or perform transactions.

"Growing Number of Hygiene Activities to Fuel Market Growth "

 With the increasing emphasis on hygiene and social distancing, QR codes have gained popularity in sectors such as retail, hospitality, and transportation, where contactless interactions are preferred. This drives the demand for QR code labels. QR codes are widely used in marketing and advertising campaigns to engage consumers and provide interactive experiences. They enable businesses to link physical products or advertisements to digital content, such as websites, videos, or promotional offers. The effectiveness of QR codes in bridging the gap between offline and online marketing has led to their increased adoption in the industry.

Restraining Factors

"Security Concerns to Restrict Market Growth "

QR codes can be vulnerable to security threats such as malicious codes or phishing attempts. Users may hesitate to scan QR codes due to concerns about potential risks, especially if they are unsure about the source or destination of the code. Security concerns can hinder the adoption of QR codes and impact the demand for QR code labels.

QR Code Labels Market Regional Insights

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"Presence of Key Players in Asia-Pacific Anticipated to Drive Market Expansion"

Asia-Pacific holds the leading position in QR code labels market share. Many countries in this region, such as China, Japan, and South Korea, have robust manufacturing sectors. QR codes are widely used in supply chain management, inventory tracking, and product authentication, which are crucial for these industries. The region has a large population with a high smartphone penetration rate. This widespread smartphone usage provides a favorable environment for QR code utilization, as consumers can easily scan QR codes with their devices.

Key Industry Players

"Adoption Innovative Strategies by Key Players Influencing Market Growth"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio.

The top key players in the market are Lintec Corporation, CCL Industries, Packtica SDN, Label Logic, Hibiscus, Data Label, Advanced Labels, Coast Label Company, Label Impressions, Consolidated Label, Avery. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

List of Market Players Profiled

• Lintec Corporation
• CCL Industries
• Packtica SDN
• Label Logic
• Hibiscus
• Data Label
• Advanced Labels
• Coast Label Company
• Label Impressions
• Consolidated Label
• Avery

Report Coverage

This report examines an understanding of the QR code labels market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.