The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Overview of Market Growth

• Current Market Size: The QR code labels market was valued at $1.33 billion in 2023.
• Short-Term Forecast: Expected to grow to $1.48 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.9%.
• Long-Term Forecast: Anticipated to reach $2.25 billion by 2028, with a CAGR of 11.1%.

Key Drivers of Growth

• Historic Drivers:
  • Inventory Management Efficiency: Improved tracking and management of stock.
  • Enhanced Marketing Capabilities: Better consumer engagement and targeted promotions.
  • Increased Smartphone Adoption: Greater access to QR code functionality.
  • Demand for Quick Information Access: Instant information retrieval from labels.
  • Advancements in Mobile Payment Systems: Facilitation of seamless transactions.
• Forecast Period Drivers:
  • Growing E-commerce: Increased online shopping fueling QR code usage.
  • Advancements in Augmented Reality (AR): Enhanced interactive experiences.
  • Increased Digital Payment Adoption: More contactless payment transactions.
  • Enhanced Contactless Interaction Demands: Greater need for non-touch transactions.
  • Rising Use in Healthcare: Improved information dissemination and patient interaction.

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Surge in Online Payments

• Convenience and Speed: QR codes streamline and expedite online transactions.
• Improved Security: Facilitates secure, contactless payments.
• Market Impact: The UK saw a 36% increase in contactless payments in 2021, highlighting a significant growth in the use of QR codes for financial transactions.

Technological Advancements

• Zap Vision Technology: Recent innovations, such as Bayer Plc and Zappar’s Accessible QR codes (AQR), enhance accessibility for the visually impaired.
• Increased Engagement: QR codes are becoming more user-friendly and interactive, improving product traceability and information accessibility.

Strategic Partnerships

• Twintag and EE Labels with Tricorp: Integration of smart woven QR codes in clothing to consolidate product information and advance sustainability.
• Sustainability Focus: The partnership emphasizes digital twin technology for improved recycling and durability.

Market Segmentation

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

Regional Insights

• North America: Dominated the QR code labels market in 2023, reflecting its strong technological infrastructure and high adoption rates.

Conclusion

The quick response (QR) code labels market is experiencing robust growth, driven by advancements in technology and increased demand for contactless transactions. With significant developments in both the short-term and long-term, the market is set to expand further, offering opportunities for enhanced consumer engagement and improved information accessibility.

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The Quick Response (QR) Code Labels Global Market Report 2024  provides an overview of the quick response (QR) code labels market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The quick response (QR) code labels market forecast analyzes quick response (QR) code labels market size, quick response (QR) code labels market share, leading competitor and their market positions.

The Table Of Content For The Quick Response (QR) Code Labels Market Include:
1. Quick Response (QR) Code Labels Market Executive Summary
2. Quick Response (QR) Code Labels Market Segments
3. Quick Response (QR) Code Labels Market Size And Quick Response (QR) Code Labels Market Growth Rate
4. Key Quick Response (QR) Code Labels Market Trends
5. Major Quick Response (QR) Code Labels Market Drivers
……
25. Key Mergers And Acquisitions In The Quick Response (QR) Code Labels Market
26. Top Quick Response (QR) Code Labels Companies
27. Quick Response (QR) Code Labels Market Opportunities And Strategies
28. Quick Response (QR) Code Labels Market, Conclusions And Recommendations
29. Appendix

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