Future Market Insights delivers key insights on the QR code labels market in its published report, titled “Global QR Code Labels Market: Industry Analysis and Opportunity Assessment, 2019–2027.” In terms of revenue, the global QR code labels market is estimated to expand at a CAGR of 8.7% during the forecast period, owing to numerous factors, about which FMI offers thorough insights and forecasts in this report.
QR code labels contain encoded data on the printed label surface. Product manufacturers use QR code labels on the products to provide detailed information about the product. QR code labels incorporate both horizontal and vertical space in order to encode the data through tiny squares. QR code labels allow much more information to be stored in a smaller space. By scanning the QR code labels, consumers are directed to a website that contains all the information regarding that particular product.
Packaging and labeling have become an important marketing tool to attract consumers and influence their purchasing behavior. Packaging is an important way to communicate with consumers and effective labelling provides them the relevant information about the product. QR code labels not only help in providing information about product features and usage processes, but also helps in creating a brand image. QR code labels are a type of two-dimensional barcodes. QR code labels are machine-readable i.e. consumers can scan the QR code labels on the products with the help of their smartphones. Most of the food & beverage, personal care & cosmetics, and healthcare & pharmaceutical companies are incorporating QR code labels on the packaging of their products to increase product popularity and safety.
QR codes can be printed on a number of label types including sleeve labels, glue-applied labels, pressure-sensitive labels, and other labels. The pressure-sensitive QR code labels segment is expected to witness rapid growth as compared to other label types. QR code labels are highly preferred by the automotive industry as an anti-counterfeiting solution for automotive parts. Food & beverage companies are adopting the use of QR code labels for their advertising strategy as they ensure quicker access to the website than a conventional URL. Furthermore, the growth in the usage of smartphones across the globe is expected to propel the growth of the global QR code labels market during the forecast period.
According to FMI analysis, the introduction of QR code labels in food & beverage industries fuels the growth of the global QR code labels market as they provide nutritional facts about food, recipes, as well as discount coupons. QR code labels are now widely used in the packaging of pharmaceuticals. QR code labels attached to pharmaceutical packaging provide detailed information about the drug and the consumers get access to the entire prescription. Industrial manufacturers are incorporating QR code labels to minimize the training costs by assuring proper product training videos.
QR code labels are not only used for gaining information related to the product, but also for payment solutions. By scanning the QR code labels at supermarkets and shops, the consumers can easily pay. In some countries, QR code labels are used to maintain the city’s administration. In addition, the retail industry is expected to witness healthy growth that can further impact the growth of the QR code labels market positively.
The key aim of the QR code labels manufacturers is to have a global presence, either physical or through exports. The manufacturers of QR code labels are likely to eye the lucrative regions of the Middle East & Africa and the Asia Pacific in the coming years. Mass urbanization in these countries, coupled with improved standards of living, is expected to be the key driving force behind the growth of the QR code labels market.
Key players considered in the report on QR code labels market 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.
A sample of this report is available upon request @https://www.futuremarketinsights.com/reports/sample/rep-gb-2818