Seafood and drinks firms are leading a food manufacturing trend in QR code labels, a report from Future Market Insights (FMI) has found. The analyst predicted "robust revenue growth" in QR code labels, as their application extended from the conventional barcode formats. According to FMI, the global QR code label market in 2018 was valued at $997m (£772m). It said the sector was forecast to expand at a compound annual growth rate of 8.7% from 2019 to 2027. "QR code labels efficiently link consumers to product authentication information, which is otherwise a challenge in the case of labels limited by a lack of space available," said the firm. FMI identified the growing incorporation of QR code labels in seafood products and on alcoholic drinks bottles. "Russian wholesalers and retailers dealing in alcoholic beverages have commenced mass QR code labelling for all their bottles as a new effort to adapt to their electronic and monitoring systems," said the company. "While this trend is now applicable for both premium spirits and beer, it is likely to enable the Russian alcohol industry to maintain track of exports, imports and sales, in addition to product and distribution."
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