An Incisive, In-depth Analysis on the Qr Code Labels Market
This study offers a comprehensive, 360 degree analysis on the Qr Code Labels market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Qr Code Labels market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The global QR code labels market was valued at US$ 996.8 millionin 2018. The market is forecast to expand at a CAGR of 8.7% during the forecast period, 2019-2027.
QR code labels are a part of security labels and are now being widely used for all kinds of applications across the globe. The QR code labels market is segmented on the basis of label type, printing technology, and end use. QR code printing technology includes flexographic printing, digital printing, offset, gravure, and other printing technologies. QR code labels are a suitable option when a lot of information cannot be printed on a label due to space constraints.
QR code labels manufactures are now engaging in manufacturing a variety of waterproof labels, specially designed for harsh environments. Barcode and QR code labels have become one of the most popular ways to interact with consumers as well as to identify and track various products. QR code labels are robust, high-density barcodes that are capable of carrying abundant data as compared to conventional barcodes. QR code labels have found extensive applications in inventory management, marketing & advertisement, security, mobile payments, and personal use. QR code labels store information such as webpages, URLs, text, and contact information.
The market for QR code labels is likely to witness positive growth owing to its high-storing capacity. QR code labels can store up to 7,809 numeric characters or 2,953 alphanumeric characters with spaces. QR code labels have a much higher storage capacity as compared to conventional barcodes with a capacity of 20 numeric characters. Additionally, QR code labels can store more information in a smaller space. QR code labels are extremely helpful for manufacturers as they have limited real estate on product packaging. Initially, barcodes were a part of the automotive industry. The barcodes were printed on automobile spare parts, but eventually were subjected to the factory’s harsh environment, whereas QR code labels can tolerate up-to 30% of damage or dirt.
Unlike the conventional barcode labels, QR code labels are scan able from any angle. QR code labels are used as anti-counterfeiting labels to protect various products from damage. The effects of counterfeiting have been witnessed in many industries including food & beverage, automotive, pharmaceutical, etc. Counterfeiting actions have led manufacturers to embed QR code labels to their products. Anti-counterfeit solutions involve QR code-based identification that helps the end consumer and the company salesmen to scan and identify the authenticity of the product by using smartphones.
QR code labels make it easy for the consumer to access various discount coupons, cashbacks, and useful information regarding the product. Due to the presence of QR code labels on consumer products, consumers do not have to remember the URL or the website. In case of food products, nutritional facts, recipes, and product information are often not printed on the label due to space limitations. In such cases, the QR code is linked to a website where all this information is accessible to the consumer. The food industry is expected to account for the highest share in the global QR code labels market.
- Alcohol retailers and wholesalers to incorporate QR code labels on premium spirit and beer bottles
From January 2018, all the alcohol retailers and wholesalers in Russia began their integration in the electronic monitoring and tracking system. The QR code labels system has now extended to beer products. The mass integration of QR code labels in Russia will allow the country to track and oversee the production, distribution, import, and sales of alcohol. It will help the government to implement laws against the illegitimate alcohol entering the market.
- QR code labels used in Australia to track seafood and inform consumers about the history of products
QR code labels are used to track meat & seafood through transportation and to inform the buyer about the products. For instance, wholesale buyers can scan the QR code to obtain the information with regards to where the seafood was caught and by what methods.
North America has shown impressive growth in the production and consumption of QR code labels, such that it towers over rest of the countries in the APAC region, and beyond. The Chinese QR code labels market currently accounts for more than 40% of the Asia Pacific QR code labels consumption alone. North America’s QR code labels market was significantly boosted, owing to the increase in the food & beverage sector is expected to continue the momentum of growth during the forecast period. Manufacturers are expected to eye the Asia Pacific region for potential business expansion. Therefore, the outlook for the global QR code labels market is expected to be positive during the forecast period.
Competitive Landscape Analysis
Key players considered in the report on QR code labels include Lintec Corporation, CCL Industries, Packtica SDN Bhd, Label Logic, Inc., Hibiscus PLC, Data Label Co. UK., Advanced Labels NW, Coast Label Company, Label Impressions Inc., and Consolidated Label & Co.
In this report, Future Market Insights offers an 8-year forecast of the global QR code labels market between 2019 and 2027. In terms of value, the global QR code labels market is expected to expand at a CAGR of 8.7% during the forecast period. The study reveals the dynamics of the QR code labels market in six geographic segments, along with a market analysis for the current market environment and future scenario over the forecast.
This Future Market Insights report studies the global QR code labels market for the period 2019–2027. The prime objective of this report is to offer insights and key market trends pertaining to the QR code labels market that are gradually helping transform global businesses.
The global QR code labels market report begins with an executive summary for various categories and their share in the market. It is followed by the market dynamics and an overview of the global QR code labels market, which includes FMI analysis of market drivers, restraints, opportunity analysis, and trends that are affecting the growth of the market. Furthermore, to understand the popularity of the QR code labels market segments, the attractiveness index and BPS analysis with elaborated insights on the same are provided. These will show the market’s attractiveness based on factors such as CAGR and incremental opportunity. To show the performance of the QR code labels market in each country and region, BPS and Y-o-Y growth analysis are provided.
The global market for QR code labels is further segmented as per label type, printing technology, and end use. On the basis of label type, the global market for QR code labels is segmented into sleeve labels, glue-applied labels, pressure-sensitive labels, and other labels. On the basis of printing technology, the global market for QR code labels is segmented into flexographic, digital printing, offset lithography, gravure printing, and other printing technologies. On the basis of end use, the global QR code labels market is segmented into food & beverage, pharmaceuticals, personal care & cosmetics, automotive, homecare & toiletries, chemicals, industrial, and others.
The next section of the report highlights the QR code labels market by region and provides the QR code labels market outlook for 2019–2027. The study investigates the Y-o-Y growth regionally, as well as analyses the drivers that influence the regional QR code labels market. Main regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, and the Middle East & Africa (MEA). The report evaluates the present scenario and growth prospects of the regional QR code labels market for 2019–2027.
To ascertain the market size in terms of value and volume, the revenue generated by the key manufacturers of QR code labels and their respective production capacity is taken into consideration. The forecast presented here assesses the total revenue generated by value, across the QR code labels market. In order to provide an accurate forecast, we initiated by sizing up the current QR code labels market, which forms the basis of how the market is expected to develop in the future. Given the characteristics of the QR code labels market, we triangulated the outcome on the basis of three different types of analysis- based on the supply side, downstream industry demand, and the economic envelope. Additionally, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyze the QR code labels market based on key parameters, such as year-on-year (Y-o-Y) growth rates, to understand the predictability of the QR code labels market, and identify the right opportunities across the market.
The market segments for the global QR code labels market have been analyzed in terms of basis point share (BPS) to understand the individual segment’s relative contributions to the QR code labels market growth. This detailed level of information is important for identifying various key trends in the QR code labels market. Another key feature of the global QR code labels market is the analysis of the key segments in terms of absolute dollar opportunity. Absolute dollar opportunity is critical for evaluating the scope of opportunity that a provider can look to achieve, as well as to identify potential resources from a delivery perspective. The overall absolute dollar opportunity along with a segmental split is mentioned in the global QR code labels market.
To understand the key growth segments in terms of growth and adoption, Future Market Insights has developed the ‘Attractiveness Index.’ The resulting index should help providers identify real QR code labels market opportunities.
In the final section of the report, a ‘dashboard view’ of the companies is provided, to compare the current industrial scenario and their contribution to the QR code labels market. Moreover, it is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a QR code labels market segment. Report audiences can gain segment-specific manufacturer insights to identify and evaluate key competitors based on the in-depth assessment of their capabilities and success in the QR code labels marketplace.