The global QR code labels market is poised for significant growth, with projections to reach $3.5 billion by 2033, advancing at a compound annual growth rate (CAGR) of 8.7 percent from 2023 to 2033, according to a new reoprt from Future Market Insights.
In 2023, the market is expected to be valued at $1.5 billion, driven by increasing adoption across various industries.
The various printing technologies in adoption for QR code label printing in QR code market include flexography, digital printing, offset lithography, and gravure printing. Flexographic had a sizeable share from 2023 to 2033 and to grow at a significant rate during the projected period.
Flexographic printing may develop at an 8.5 percent CAGR in the printing technique category throughout the projection period.
From 2023 to 2033, the pressure-sensitive labels segment in the label type category may rise at an 8.7 percent CAGR.
The QR code market in the United States is to expand at a 5.4 percent CAGR to $568.8 million by 2033.
Germany’s market is set to grow at a 5.5 percent CAGR to US$ 124.0 million by 2033.
The France market climbs at an 8.3 percent CAGR and is to reach US$138.3 million by 2033.
The China QR code market is to blossom at a CAGR of 12.1 percent, reaching US$ 645.2 million by 2033.
By 2033, the Japan market to reach a CAGR of 10.3 percent and reach US$ 277.1 Million.
