NEWARK, Del, Dec. 07, 2022 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the global sustainable labels market size is projected to grow from US$ 15.6 Bn in 2022 to US$ 27.2 Bn by 2032, with overall sales exhibiting a CAGR of 5.7% CAGR throughout the forecast period (2022-2032).
Growing environmental concerns, increasing demand for packaged food products, and advancements in printing technologies are some of the key factors providing impetus to the growth of the global sustainable labels market.
With sustainability becoming a more important factor in purchasing decisions, consumers are showing a keen inclination towards purchasing products with sustainable labels. As a result, industries like food & beverages, pharmaceutical, chemical, cosmetics, and others are extensively using these ecofriendly labels. This will continue to boost the global sustainable labels market during the forecast period.
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In recent years, paper labels have observed an increase in demand, and are predicted to hold the majority of the value share over the forecast period. The technology and devices used in production are upgraded with the rising demand for labels.
Printing technologies such as flexography ensure long-lasting ink and easy printing. Such technologies are projected to remain lucrative at a steady rate during the forecast period. Moreover, due to the admirable print quality of developing technologies and environmental factors, the digital segment of the sustainable labels market is predicted to progress at a prolific rate during the projected period.
The organized retail sector is experiencing a healthy evolution in developing economies and it is expected to advance rapidly during the upcoming years. Consumers are interested in buying products from supermarkets and retail stores. Changing lifestyles coupled with rising per capita disposable income is estimated to fuel the growth of the retail market, which in turn will bolster sustainable label sales.
Similarly, rising demand for packaged perishable products such as meat, poultry, and seafood is anticipated to increase the sales of sustainable labels during the forecast period.
Manufacturers are also offering advanced labelling solutions to brand owners, which ultimately contributes to the growth of the sustainable labels market.
Key Takeaways from Sustainable Labels Market
- Based on material type, the paper segment is estimated to account for market value of US$ 9.2 Bn in 2022.
- Based on end use, the food & beverage segment is projected to expand 1.6 times during the forecast period.
- With rapid growth of the food service industry, demand for sustainable packaging across South Asia is projected to grow at a healthy pace through 2032.
- North America is likely to hold a substantial share of the global sustainable labels market by the end of the forecast period.
- The sustainable labels market in India is poised to grow at a steady pace over the next ten years.
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“The increased environmental concerns is the major reason for the expansion of sustainable labels market. Besides this, advancements in printing technologies will also positively impact the global sustainable labels market during the assessment period,” – says an FMI analyst
Consumer Inclination toward Sustainable and Green Packaging Solutions Driving Sustainable Labels Market
Nowadays, consumers are more concerned about the environment. As a result, they are inclined towards sustainable packaging solutions which is one of the key factors driving the global sustainable labels market. These labels have foreseen substantial growth in adoption due to their various benefits such as easy application and easy recyclability.
Growing inclination of consumers toward sustainable products along with the desire to pay more for the purchase of such products is expected to elevate the demand for sustainable labels during the forecast period.
Who is Winning?
HERMA GmbH, CCL Industries, Avery Products Pty Ltd., THE Label Makers LIMITED, Berkshire Labels, and Crown Labels Mfg Co Ltd are the key players operating in the global sustainable labels market. Also, some of the noticeable players operating in the sustainable labels are Weber Packaging Solutions., JK Labels, Signal Labels Ltd, VR Labels & Stickers, Elevate Packaging, Inc, Innovia Films Inc, Checkpoint Systems, Inc., Paramount Labels, and others.
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Sustainable Labels Industry by Category
By Material Type:
- Plastic
- Paper
By Label Type:
- Pressure Sensitive Labels (PSL)
- Shrink Labels
- Stretch Labels
- Wet Glue Labels
- Others (In-mold, Pre-gummed, etc.)
By Printing Technology:
- Flexography
- Digital
- Gravure
- Screen
- Offset
By End Use:
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Homecare
- Clothing & Apparels
- Chemicals
- Automobiles
- Others Consumer Goods
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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