The global eco-friendly labels market growth is expected to registered at a CAGR of 8.3% during the forecast period 2021 to 2030.
Eco-friendly labels help to create new value chains by establishing new networks of production to the manufacturer, lowering the environmental impact from reduced waste, increasing in recycling and reusing the label, and adding sustainability to quality living, thereby increasing the consumption at global level. This has resulted in significant demand for eco-friendly labels in the recent years globally.
The eco-friendly labels market is anticipated to be driven by remarkable consumption and production growth, resulting from shifting consumer habits toward sustainable living and increasing the quality of life across various regions of the globe.
Labels are primarily used for the effective representation of must-know information. Therefore, the shelf life of labels is an important concern for manufacturers and consumers as well. Besides, increasing scrap, landfill, and pollution are creating sustainability challenges for the people. In order to reduce the impact of this, consumers are gradually moving toward environment-friendly packaging and labelling solutions. Eco-friendly labels are a type of labels that are manufactured to restrict the damage to the environment by reducing carbon footprint. They are sustainable with different properties such as biodegradability and recyclability, which help resolve environmental concerns, thereby increasing consumption of these labels across the globe. As eco-friendly labels are made of easily degradable materials such as paper and bio-plastic, recycling of these labels becomes easy when converted into scrap. Furthermore, to increase the shelf life of the labels, key players are laying emphasis on manufacturing high strength labels that can sustain in any environmental condition. Eco-friendly labels have significant water and tear resistance and printed with high-end technology.
Key to Increase Sales of Eco-friendly Labels
As per consumer sentiment analysis, eco-friendly packaging solutions grab more attention of consumers, thus increasing sales of the product. Eco-friendly labels increase the aesthetics and shelf appearance of a product. As these labels add a premium look and value to the product, some of the end users are considering eco-friendly labels as an effective tool for branding and promotions of their products. End users, including food and beverages, cosmetics and personal care, and apparels are opting for flexographic printed or digitally printed eco-friendly labels for increasing product sales.
The eco-friendly labels help the product to describe its nature, characteristics, and features, depicting whether it is 100% biodegradable or not, recyclable or reusable. In addition, this aids in the consumption of eco-friendly or sustainable product, which, in turn, creates demand for eco-friendly labels in the market.
Therefore, the demand for eco-friendly labels is forecast to rise during 2021-2030, owing to high demand for standardized products due to their quality and features in terms of sustainability.
COVID-19 pandemic is expected to add economic and financial challenges for the manufacturers of eco-friendly labels across various regions. Other than the massive demand for various types of labelling materials and labelling inks to label products before dispatch, manufacturers are facing tremendous challenges in terms of limited work capitals, disturbed product supply chain, difficulties in product management, and emerging second wave of the pandemic in 2021.
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However, pressure sensitive labels continue to be a vital business, predominantly for food and beverages. The detailed inspection of the market found that even before COVID-19, pressure sensitive labels demand had grown at a consistent rate, when compared to other alternatives available. The lockdown in North American and European countries caused a rush in demand for food and beverages packaging, in terms of boxes, cans, and pouches, as customers stock up on the well-packaged and labelled products, which indicates the product is standardized in nature. The demand for beverage cans has also increased as drinkers move away from bars and pubs and into socially isolated home drinking. In addition, beverage manufacturing companies are launching new, sustainable packaging materials to pack products enhancing the use of eco-friendly labels.
Consumer Inclination toward Sustainable and Green Packaging Solutions Driving Eco-Friendly Labels Market
Consumer demand for use of green labelling and packaging formats is one of the key parameters anticipated to facilitate an increase in consumption and use of eco-friendly labels in the market. These labels have witnessed exponential growth in adoption, due to their cost-effectiveness and ease of application. Additionally, eco-friendly labels are easy to recycle and reduce wastage. Therefore, environmental benefits from manufacturing such labels are significant. As these labels are made of paper and eco-plastics, which reduce negative impact on the environment, the use of such labels results in total elimination of release liner waste, which is one of the key waste materials specific to the label industry. This helps many countries to reduce bundles of landfills.
Moreover, concerns related to environmental protection among consumers are rising day-by-day. Consumers have realized that their purchasing behavior or purchasing pattern can affect the environment. They can protect the environment by purchasing eco-friendly or sustainable products that have negligible impact on the environment, thus improving the quality of living too.
Growing inclination of a consumer toward eco-friendly products, along with the willingness to pay more for the purchase of such products has driven the demand for eco-friendly labels.
Moreover, increasing consumer awareness about sustainable living is propelling the market for eco-friendly labels. Thus, the labels and packaging is estimated to be significant in the eco-friendly labels market.
Food & Beverages Industry Offers Multiple Growth Opportunities to Eco-friendly Labels Market
Owing to the rising middle-class population across the globe coupled with open trade policies, the world is witnessing a significant surge in the demand for perishable food products, particularly meat, seafood, dairy products, and fresh fruits and vegetables. Furthermore, an increasing number of consumers is buying frozen food products from the organized retail sector due to which, companies are integrating advanced technologies to provide quality food products ensuring transparency and safety. Due to increasing consumption of frozen food, seafood, and others, the demand for food-safe packaging and labelling material is increasing exponentially. The eco-friendly label manufacturers are strategically planning to enhance the quality of labels that can withstand all atmospheric conditions and provide maximum clarity of the printed information.
Eco-friendly labels can also be incorporated in non-alcoholic and alcoholic beverages. Due to the increasing occurrence of counterfeiting in various countries, brand owners seek for solutions to reduce such risks. The growing demand for eco-friendly labels in the beverages industry is ultimately creating substantial opportunities for eco-friendly label manufacturers to further penetrate the market. Factors, such as increasing customer engagement and consumer interaction with products are creating significant opportunities for manufacturers to capture a substantial market share.
The U.S. Grocery Manufacturers Association (GMA) identified that nearly 75-80% of products, including food and beverages, cosmetics and personal care, and pharmaceuticals are expected to have data encrypted eco-friendly labels over the next five years. Leading food manufacturing brands are gradually adopting eco-friendly labels; some of these are Kellogg, Nestle, and The J.M. Smucker Company. Tyson Foods, a meat and poultry producer has recently added technology-based quick scanning QR code eco-friendly labels on some of its products.
Based on material, the paper-based labels segment is forecast to hold more than 4/5th of the value share by 2030. Semi-gloss/matte paper segment is estimated to witness gain of nearly 130 bps of the current market share during the forecast period.
By label type, the Pressure Sensitive Labels (PSL) segment is predicted to expand 2 times of the current market value by the end of 2030, attributing to ease of application and good tear resistance
By printing technology, the Flexography printing technology is expected to remain lucrative for the global eco-friendly labels market, owing to durability of inks and ease of printing. However, the digital segment is anticipated to increase at a prominent CAGR of 8.7% during the forecasted period as an emerging technology, which results in excellent print quality and is environment-friendly.
Based on End Use, Although consumption of eco-friendly labels in food & beverages is projected to gain new heights, consumption of these labels in the pharmaceutical industry is expected to increase at yearly growth rate of 5.5% during 2021-2022, and register maximum growth of 10.5% during 2025-2027. This growth is anticipated as the COVID-19 pandemic situation has compelled pharmaceutical companies to manufacture medications beyond capacity.
Asia Pacific is expected to lead the global market for eco-friendly labels. This region is anticipated to create lucrative incremental growth opportunity of US$ 562 Mn during the forecast period.
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This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global eco-friendly labels market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
Some of the key players operating in the global eco-friendly labels market are SATO Holdings Corporation, Elevate Packaging Inc., CCL Industries, HERMA Labels, Hally Labels, inkREADible Labels, Paramount Labels, VR Labels & Stickers, JK Labels, Signal Ltd., Labels Plus, Weber Packaging Solutions, Crown Labels Mfg. Co. Ltd., Interfas, Berkshire Labels, WEAVEBEL Ltd., Zebra Technologies Corp., The Label Makers Limited, Blair Labeling Inc., Genesis Patterns(Labels), etc.
This report focuses on eco-friendly labels market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall eco-friendly labels market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global eco-friendly labels market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
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The report provides in-depth segment analysis of the global eco-friendly labels market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the eco-friendly labels market.
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