Global QR Code Labels Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at XX% through 2020 to 2026, reaching nearly US$ 2105.85 Mn.

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Global QR Code Labels Market Projected to Reach $2.1 Billion by 2026

The global QR code labels market is experiencing significant growth, with projections indicating an increase from an undisclosed valuation in 2019 to approximately $2.1 billion by 2026.

Market Definition and Estimation

QR (Quick Response) code labels are two-dimensional barcodes capable of storing extensive data, including up to 7,809 numeric characters or 2,953 alphanumeric characters with spaces. This substantial storage capacity surpasses that of traditional barcodes, which are limited to 20 numeric characters. QR code labels are utilized across various sectors for purposes such as asset management, branding and marketing, security, online payments, and personal applications.

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Market Growth Drivers and Opportunities

Several factors are propelling the growth of the QR code labels market:

• Enhanced Data Storage and Versatility: The ability of QR codes to store large amounts of data makes them versatile for various applications, from directing consumers to websites to storing product information. Their adaptability allows users to scan codes from any direction, enhancing user experience and accessibility.

• Security and Anti-Counterfeiting Measures: QR code labels serve as effective anti-counterfeiting solutions, providing authentication for products and personnel. This application is particularly vital in industries where product authenticity is crucial, such as pharmaceuticals and luxury goods.

• Marketing and Consumer Engagement: Companies utilize QR codes to engage with potential clients, directing them to reliable online sources and enhancing customer loyalty and trust. This innovative marketing strategy facilitates direct communication and provides consumers with immediate access to information.

Segmentation Analysis

The QR code labels market is segmented based on material type, label type, printing technology, and end-user:

• By Material Type:

  • Paper: Widely used due to its cost-effectiveness and suitability for various applications.
  • Plastic: Offers durability and resistance to environmental factors, making it ideal for long-term use.
  • Others: Includes materials like metal and fabric, used for specialized applications.

• By Label Type:

  • Pressure-Sensitive Labels: Dominated the market during the forecast period, driven by the growing transportation and logistics sectors, and the need for product identification, tamper evidence, and security features.
  • Glue-Applied Labels: Traditional labels affixed using adhesives, suitable for various packaging types.
  • Sleeve Labels: Labels that conform to the shape of the container, offering 360-degree branding opportunities.
  • In-Mold Labels: Integrated into the packaging during the molding process, providing a seamless appearance.

• By Printing Technology:

  • Flexographic Printing: Utilizes flexible relief plates, suitable for high-volume runs.
  • Digital Printing: Offers quick turnaround and customization, ideal for short runs and variable data printing.
  • Offset Printing: Provides high-quality prints, commonly used for large-scale production.
  • Gravure Printing: Used for fine image detail and high-quality output, suitable for long runs.

• By End-User:

  • Manufacturing: Utilizes QR code labels for inventory management and product tracking.
  • Retail: Employs QR codes for pricing, promotions, and customer engagement.
  • Healthcare: Uses QR codes for patient information, medication tracking, and equipment management.
  • Transportation and Logistics: Implements QR codes for tracking shipments and asset management.
  • Others: Includes sectors like education and entertainment, where QR codes enhance user interaction.

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Regional Insights

• North America: The extensive use of QR code labels on consumer packaged goods and other packaging products in supermarkets, hypermarkets, malls, and retail establishments is expected to drive market growth in North America throughout the forecasted period. Additionally, the booming food and beverage sector in countries such as the United States and Canada is expected to continue contributing to regional market revenues in the coming years.

• Asia Pacific: Manufacturers are anticipated to look to the Asia Pacific area for opportunities to expand their businesses. As a result, the market for global QR code labels is likely to grow throughout the projected period. The Chinese QR code labels market alone now accounts for more than 40% of all QR code labels consumed in the Asia Pacific.

Competitive Analysis

The QR code labels market features several key players striving to innovate and capture market share. Notable companies include:

1. Avery Dennison Corporation: A global leader in labeling and packaging materials, offering a range of QR code labeling solutions.

2. CCL Industries Inc.: Specializes in specialty label and packaging solutions, including QR code labels for various industries.

3. Zebra Technologies Corporation: Provides printing solutions for QR code labels, catering to sectors like manufacturing and healthcare.

4. Honeywell International Inc.: Offers QR code scanning and printing technologies, enhancing supply chain efficiency.

5. 3M Company: Develops innovative QR code labeling materials with a focus on durability and performance.

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