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Steady Expansion Forecast for Quick Response (QR) Code Labels Market, Projected to Reach $2.49 Billion by 2029
Quick Response (QR) Code Labels
Quick Response (QR) Code Labels Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, there has been a significant growth in the market size of quick response (QR) code labels. The market size is predicted to increase from $1.48 billion in 2024 to $1.64 billion in 2025, with a compound annual growth rate (CAGR) of 11.3%. Factors contributing to this growth during the historic period include efficient stock management, improved marketing capabilities, the rising use of smartphones, a surge in the need for rapid access to information, and developments in mobile-based payment systems.
Quick Response (QR) Code Labels Market Size Forecast: What's the Projected Valuation by 2029?
Expectations suggest a swift expansion of the quick response (QR) code labels market in the coming years, projecting its growth to reach $2.49 billion by 2029 with a compound annual growth rate (CAGR) of 11.0%. This projected growth within the forecast period can be linked to factors such as burgeoning e-commerce, advancement in augmented reality tech, increased usage of digital payments, higher demand for contact-free interactions, and a surge in applications in the healthcare sector for information distribution. Prominent trends expected during the forecast period include implementation in the internet of things, personalized marketing initiatives, extensive use in digital menus, enhanced security characteristics, and broad adoption in smart packaging.
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What Are the Drivers Transforming the Quick Response (QR) Code Labels Market?
The expected growth of the quick response (QR) code labels market is directly linked to the increasing demand for online payments. Online transactions are essentially payments made over the internet for goods and services, facilitating fund transferring from a buyer to a seller. The growing necessity for online payments can be attributed to its speed, convenience, improved internet access, the surge in mobile device usage, and elevated security measures. QR code labels pave the way for straightforward and swift online transactions via contactless smartphone interactions, thus boosting user convenience and security. As an example, UK Finance, a UK based financial service firm highlighted that in 2022, the frequency of contactless payments in the UK surged to 17.0 billion compared to 13.1 billion in the prior year. The data from September 2023 supports the notion that the increasing need for online payments is fuelling the upward growth trajectory of the QR code labels market.
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What Long-Term Trends Will Define the Future of the Quick Response (QR) Code Labels Market?
Leading businesses engaged in the quick response (QR) code label industry are prioritizing the development of innovative technological solutions like zap vision technology to boost product traceability and protection. Zap vision technology is a type of QR code label developed for swift reaction and interaction, thus improving accessibility and user involvement. For example, Bayer Plc, a life science firm based in the UK, and Zappar, an augmented reality application developer also based in the UK, unveiled Accessible QR codes (AQR) in November 2023. The innovation, marked as the world's first AQR, was featured on the packaging of their Canescool Soothing Gel Cream product. Its primary purpose is to enhance the accessibility of product information for those who are blind or partially sighted. The AQR code is specifically designed for individuals experiencing sight loss and is recognized by common accessibility apps including Envision, Microsoft SeeingAI, and Zapvision's own reference app.
Which Segments in the Quick Response (QR) Code Labels Market Offer the Most Profit Potential?
The quick response (QR) code labels market covered in this report is segmented -
1) By Label Type: Sleeve Labels, Glue Applied Labels, Pressure Sensitive Labels, Other Label Types
2) By Material Type: Paper, Plastic, Polyethylene Terephthalate, Poly Vinyl Chloride, Vinyl
3) By Printing Technology: Flexographic, Digital Printing, Offset Lithography, Gravure Printing, Other Printing Technologies
4) By End Use: Food And Beverage, Pharmaceuticals, Personal Care And Cosmetics, Automotive, Homecare And Toiletries, Chemicals, Industrial, Other End Uses
Subsegments:
1) By Sleeve Labels: Shrink Sleeve Labels, Stretch Sleeve Labels, Roll-On Sleeve Labels, Full-Sleeve Labels
2) By Glue Applied Labels: Wet Glue Labels, Dry Glue Labels, Hot Melt Glue Labels, Cold Glue Labels
3) By Pressure Sensitive Labels: Paper-Based Pressure Sensitive Labels, Film-Based Pressure Sensitive Labels, Clear Or transparent Pressure Sensitive Labels, Special Adhesive Pressure Sensitive Labels
4) By Other Label Types: In-Mold Labels, Wrap-Around Labels, Rfid-Embedded Labels, Security Or Anti-Counterfeit Labels, Thermal Transfer Labels
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Which Firms Dominate the Quick Response (QR) Code Labels Market by Market Share and Revenue in 2025?
Major companies operating in the quick response (QR) code labels market are Brother Industries Ltd, Zebra Technologies LLC, CCL Industries Inc., Brady PLC, Cognex Corporation, Bizerba USA Inc, Epson America Inc, HERMA Gmbh, Avery Products Corp, AstroNova Inc, MPI Label Systems, Online Labels LLC, Consolidated Label Co, Citizen Systems Co Ltd, SATO Holdings Corporation, Denso Wave Incorporated, Afinia Label, Holo Security Technologies Pvt Ltd, Coast Label Co, Label Express, Hibiscus Plc, Crown Labels Mfg Co Ltd.
Which Regions Offer the Highest Growth Potential in the Quick Response (QR) Code Labels Market?
North America was the largest region in the quick response (QR) code labels market in 2024. The regions covered in the quick response (QR) code labels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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