BANGALORE, India, Sept. 19, 2024 /PRNewswire/ -- QR Code Labels
Market is Segmented by Type (Flexographic Printing, Digital
Printing, Offset Gravure), by Application (Inventory Management,
Marketing & Advertisement, Mobile Payments, Personal Use):
Global Opportunity Analysis and Industry Forecast, 2024-2030.
The Global QR Code Labels Market was valued at US$ 889.2 million in 2023 and is anticipated to
reach US$ 1339.1 million by 2030,
witnessing a CAGR of 5.6% during the forecast period 2024-2030.
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Major Factors Driving the Growth of QR Code Labels
Market:
The QR code labels market is experiencing robust growth due to
the increasing adoption across sectors like retail, logistics,
marketing, and payments. The convenience, versatility, and
cost-effectiveness of QR code labels, combined with the rise in
mobile phone usage and the shift toward contactless technologies,
are key drivers of this growth. Industries are leveraging QR codes
for diverse applications such as inventory management, mobile
payments, and marketing campaigns. However, concerns about data
privacy and security may limit widespread adoption in certain
regions.
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TRENDS INFLUENCING THE GROWTH OF THE QR CODE LABELS
MARKET:
Flexographic printing holds the largest share in the QR
code labels market due to its high-speed production capabilities
and cost-effectiveness for large print runs. Flexographic printing
is particularly popular in sectors like retail and logistics, where
large quantities of QR code labels are required for packaging and
inventory management. Its ability to print on a wide range of
substrates, including paper, plastic, and metallic foils, makes
flexographic printing the preferred choice for high-volume,
cost-efficient QR code label production, driving its dominance in
the market.
Digital printing is the second-largest segment, known for its
flexibility, quick turnaround times, and ability to produce short
print runs cost-effectively. This technology is widely adopted in
the marketing and advertising sectors where businesses need
customized QR code labels for targeted campaigns and promotions.
Digital printing offers high-quality, precise printing for small
batches, allowing companies to personalize QR codes for specific
audiences or events. The growing trend of personalization in
marketing is significantly driving the demand for digital printing
in the QR code labels market.
Inventory management is the largest application segment, as QR
code labels simplify tracking and monitoring products in
warehouses, retail stores, and logistics chains. QR codes allow for
real-time updates and easy access to product details, making
inventory management more efficient. Businesses, especially in
e-commerce and logistics, rely on QR codes to reduce human errors,
improve accuracy, and streamline operations. As global trade and
e-commerce continue to grow, inventory management remains the
largest driver of the QR code labels market.
QR codes in marketing and advertising are increasingly popular
as brands use them to engage customers directly through digital
content. By scanning a QR code, consumers can access websites,
videos, promotions, and other interactive media, enhancing brand
interaction. This trend is particularly strong in retail and
consumer goods sectors, where QR codes are used in packaging,
billboards, and digital campaigns. With more consumers using
smartphones, QR codes have become a key tool in marketing
strategies, driving growth in this application.
The use of QR code labels for mobile payments is rapidly
expanding, especially in regions like Asia-Pacific, where cashless transactions are
becoming the norm. QR codes provide a secure, contactless payment
solution, and their integration with mobile wallets makes them
convenient for both consumers and businesses. The pandemic
accelerated the shift to contactless payments, and the trend is
expected to continue as more businesses adopt QR code-enabled
payment systems. This rising trend is a significant factor
contributing to the growth of the QR code labels market.
QR code labels are also being increasingly adopted for personal
use, particularly in the context of social networking, personal
branding, and event management. Individuals are using QR codes to
share contact information, social media profiles, or event details.
The ease of generating and sharing QR codes through mobile apps has
made this technology accessible for personal use. As digital
interaction becomes more integrated into daily life, personal use
of QR code labels is expected to grow, further expanding the
market.
The production of QR code labels, particularly in large
quantities, is increasingly being scrutinized for its environmental
impact. Companies are looking for sustainable printing solutions,
such as eco-friendly inks and biodegradable materials, to reduce
the environmental footprint of label production. Flexographic and
digital printing technologies are evolving to meet these demands,
with manufacturers investing in greener alternatives. The shift
towards sustainability in label production is expected to shape the
future of the QR code labels market.
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QR CODE LABELS MARKET SHARE
The Asia-Pacific region
dominates the QR code labels market, driven by the widespread use
of QR codes for mobile payments and inventory management,
particularly in China and
Japan. North America follows, with increasing
adoption in retail, marketing, and healthcare. Europe is also a key market, driven by the
rising demand for contactless payment solutions and digital
marketing initiatives. The Middle
East and Africa are
emerging markets, especially in mobile payments and product
traceability applications.
Key Companies:
- Lintec Corporation
- CCL Industries
- Packtica SDN
- Label Logic
- Hibiscus
- Data Label
- Advanced Labels
- Coast Label Company
- Label Impressions
- Consolidated Label
- Avery
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