QR Code Labels Market Witness a Spike in Growth Pace Recent Improvements in Pricing Models: FMI

The global QR code labels market was valued at US$ 996.8 million in 2018. The market is forecast to expand at a CAGR of 8.7% during the forecast period, 2019-2027.

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Equally significant as packaging, product labeling has also emerged as an extremely important factor influencing the purchasing behavior of consumers. The 2D nature and machine (mobile device) readability of QR code labels continue to highlight their robust potential in terms of adoption. Apart from food and beverages, healthcare, pharmaceuticals, and personal care industries have been adapted to the paradigm shift of barcode-to-QR code, in recent past.

Increasing criticality of addressing serious industrial consequences of products and label counterfeiting is compelling operators in the various industrial domains to embed QR code labels over the conventional counterpart, i.e. barcode.

Exploring a broader application in the food and beverages industry that accounts for a substantial revenue share in QR code labels market, the QR code labels efficiently link consumers to the product authentication information, which is otherwise a challenge in case of labels that are limited by the lack of space availability.

Top Trends Shaping Strategic Activities of QR Code Labels Manufacturers -

Waterproof QR code labels
QR code labels specifically designed for packaged seafood products
Mass integration of QR code labels on alcoholic beverages by wholesale and retail distributors

The report by FMI has covered deep dive profiles of some of the key players active in QR code labels marketplace, including Lintec Corporation, Hibiscus PLC, CCL Industries, Label Logic, Inc., Packtica SDN Bhd, Advanced Labels NW, Data Label Co. UK., Coast Label Company, Consolidated Label & Co., and Label Impressions Inc.

Key Segment :
Based on label type-
sleeve labels
glue-applied labels
pressure-sensitive labels
other labels

Based on printing technology-
flexographic
digital printing
offset lithography
gravure printing
other printing technologies

Based on end use-
food & beverage
pharmaceuticals
personal care & cosmetics
automotive
homecare & toiletries

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A majority of established companies manufacturing QR code labels are shifting their focus to waterproof QR code labels that efficiently withstand harsh weather conditions. Growing incorporation of QR code labels in seafood products and liquor bottles marks another strong trend in the QR code labels landscape, observed in recent years.

Russian wholesalers and retailers dealing in alcoholic beverages have commenced mass QR code labelling for all liquor bottles, as a brand new effort to adapt to their electronic tracking and monitoring systems. While this trend is now also applicable for both premium spirit and beer, it is likely to enable Russian alcohol industry to maintain a track of export, import, and sales, in addition to production, distribution, and sales.

Australia based QR code labels manufacturers have been investing efforts in tracking seafood and meat products through the transit and thereby allow consumers to remain informed of products’ history and current status.

In a recently released intelligence outlook, Future Market Insights forecasts a strong growth outlook for global QR code labels marketplace over next few years. Superior functional attributes of QR code labels over conventional barcodes will remain the primary booster for manufacturers of the former in global landscape.

Enjoying extensive applicability in security, inventory management, mobile payment, and marketing & advertisement, QR code labels will reportedly continue to gain higher traction owing to high storage capability for text, URLs, webpages, and contact information. Up to 30% damage tolerating ability is also cited as an important factor pushing adoption of QR code labels across industries.

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Key Insights Drawn from Report -

Pressure-sensitive QR code labels remain an attractive segment, globally, across multiple industrial verticals.

Adoption across the F&B industry estimated to gather momentum, boosting sales of QR code labels in the near future.

Anti-counterfeiting applications are projected to uplift sales of QR code labels in automotive sector.

Soaring smartphone sales and the thriving retail sector are indirectly (positively) impacting the QR code labels landscape.

China, with nearly 40% value share in Asia Pacific market, remains the revenue growth engine for regional QR code labels marketplace.

North America’s market for QR code labels is slated to demonstrate exceptional growth in the revenue, in coming years.

Globally and regionally leading QR code labels manufacturers are likely to eye lucrative investment pockets across Asia Pacific, and Middle East & Africa.

Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
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Website: https://www.futuremarketinsights.com

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.