Quick Response (QR) Code Labels Global Market Report 2024

The quick response (QR) code labels market size has grown rapidly in recent years. It will grow from $1.33 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to several factors, including enhanced inventory management efficiency, improved marketing capabilities, increased smartphone adoption, growing demand for quick information access, and advancements in mobile payment systems.

The quick response (QR) code labels market size is expected to see rapid growth in the next few years. It will grow to $2.25 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to several factors, including the growth of e-commerce, advancements in augmented reality technology, increased adoption of digital payments, rising demand for enhanced contactless interactions, and the growing use of QR codes in healthcare for information dissemination. Major trends in the forecast period include integration with the Internet of Things (IoT), personalized marketing campaigns, expanded use in digital menus, enhanced security features, and widespread adoption in smart packaging.

The quick response (QR) code labels market is poised for growth, driven by the increasing demand for online payments. Online payments, which involve transferring funds over the Internet for goods or services, have become increasingly popular due to their convenience, speed, and enhanced security features. This rise in demand is fueled by factors such as improved internet access, the proliferation of mobile devices, and the preference for contactless transactions. QR code labels play a vital role in simplifying and expediting online payments, allowing for quick and secure smartphone transactions. For example, in the UK, contactless payments saw a significant surge in volume, with 13.1 billion payments recorded in 2021, representing a 36% increase compared to 2020. These transactions accounted for nearly one-third (32%) of all payments during the year, indicating the growing reliance on QR code labels for online payments.

Leading companies in the QR code label market are focusing on developing innovative technological solutions to enhance product traceability and security. One such advancement is zap vision technology, which offers QR code labels optimized for rapid response and interaction, ultimately improving accessibility and user engagement. For instance, Bayer Plc and Zappar collaborated to introduce Accessible QR codes (AQR) on Bayer's Canescool Soothing Gel Cream product packaging. This groundbreaking innovation aims to make product information more accessible to individuals who are blind or partially sighted, demonstrating a commitment to inclusivity and user accessibility.

In May 2023, Twintag, a US-based SaaS platform, and EE Labels, a label producer headquartered in the Netherlands, collaborated with Tricorp to incorporate smart woven QR codes into their clothing items. This initiative consolidates all product details into a branded interface, simplifying access to information about the garments. The goal of this partnership is to promote sustainability and recycling by introducing digital twin technology across various industries. The innovative smart woven QR codes offer a resilient solution, improving the overall customer experience and revolutionizing Tricorp's product range. Tricorp, a Dutch company specializing in contemporary and long-lasting workwear, stands to benefit from this collaboration by offering innovative products that meet evolving consumer demands.

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.

North America was the largest region in the quick response (QR) code labels market in 2023. 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.

The countries covered in the quick response (QR) code labels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Quick Response (QR) code labels are two-dimensional barcodes that store information accessible by scanning with a smartphone or QR scanner. These labels encode data such as website URLs, product details, or contact information, providing consumers with easy access to relevant content. They are increasingly utilized in marketing, product packaging, and authentication processes, enhancing consumer engagement and facilitating efficient information retrieval.

The main types of QR code labels include sleeve labels, glue applied labels, pressure-sensitive labels, and others. Sleeve labels wrap around a container or product, offering branding, information, or decoration. Materials such as paper, plastic, polyethylene terephthalate, polyvinyl chloride, and vinyl are used alongside printing technologies such as flexographic, digital printing, offset lithography, and gravure printing. These labels serve various end-user industries including food and beverage, pharmaceuticals, personal care and cosmetics, automotive, homecare and toiletries, chemicals, industrial sectors, and others.

The quick response (QR) code label research report is one of a series of new reports that provides quick response (QR) code label market statistics, including the quick response (QR) code label industry's global market size, regional shares, competitors with a quick response (QR) code label market share, detailed quick response (QR) code label market segments, market trends and opportunities, and any further data you may need to thrive in the quick response (QR) code label industry. This quick response (QR) code label market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The quick response (QR) code labels market sales consists of tamper-evident labels, thermal labels, waterproof labels, and removable labels. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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