QR Code Labels - Global Market Outlook (2017-2026)
According to Stratistics MRC, the Global QR code labels market accounted for $907.83 million in 2017 and is expected to reach $2,105.85 million by 2026 growing at a CAGR of 9.8% during the forecast period. Some of the key factors such as rising use of code labels in inventory management and personal use and usage of these codes in storing information such as webpages, URLs, text, and contact information are driving the market growth. However, codes steadiness on a mobile device or smartphone act as the restraining factor for the QR code labels market growth.
QR code labels are mostly used in security labels and presently they are mostly being utilized for various applications. The manufactures of these labels are currently manufacturing a variety of waterproof labels, especially for harsh environments. They are robust and high-density and are capable of carrying abundant information as compared to conventional barcodes.
By Label Type, Pressure Sensitive Labels segment is likely to grow due to the growing transportation and logistics industries and the need for product authentication, tamper evidence and security features have stimulated the market for these labels. Furthermore the increased application across the sectors such as food & beverages, pharmaceuticals and automotive has fueled the market used in packaging.
By geography, North America is estimated to have a lucrative growth in the forecast period, mainly due to the rising demand for these tags in this region owing to large manufacture and use of QR code labels. Furthermore, thriving food & beverages industry in countries such as the U.S. and Canada will inflate the scope of the market in the region.
Some of the key players in this QR code labels market include Advanced Labels NW, Avery, CCL Industries, Coast Label Company, Consolidated Label & Co., Data Label Co. UK., Hibiscus PLC, Label Impressions Inc., Label Logic, Inc., Lintec Corporation and Packtica SDN Bhd.
Material Types Covered:
• Polyethylene Terephthalate (PET)
• Poly Vinyl Chloride (PVC)
Label Types Covered:
• Glue Applied Labels
• Paper QR Code Labels
• Plastic QR Code Labels
• Pressure Sensitive Labels
• Sleeve Labels
• Other Labels
Printing Technologies Covered:
• Offset Lithography
• Gravure Printing
• Flexographic Printing
• Digital Printing
• Other Printing Technologies
• Personal Use
• Mobile Payments
• Marketing & Advertisement
• Inventory Management
End Users Covered:
• Industrial Goods
• Homecare & Toiletries
• Electronics & Electricals
• Cosmetic & Personal Care
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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