The global Sustainable Labels Industry is positioned for significant growth, with an anticipated valuation of US$ 15.6 billion in 2022. This upward trajectory is poised to continue, marked by a robust compound annual growth rate (CAGR) of 5.7% spanning the period from 2022 to 2032, ultimately reaching a remarkable US$ 27.2 billion by 2032.
The surge in demand for eco-friendly packaging solutions and sustainable labeling practices on a global scale, complemented by mounting environmental concerns, stands as a pivotal driver underpinning this growth. Presently, millennials and Generation Z consumers wield their purchasing influence to support brands committed to ethical principles, notably environmental sustainability. Consequently, a growing number of companies are incorporating sustainable labels into their products, further accelerating market expansion throughout the projection period.
Moreover, sustainability has evolved into a prominent factor influencing consumers’ purchasing decisions, which, in turn, is expected to fortify overall sales of sustainable labels. The landscape is also witnessing the emergence of key players, with the top 5 providers projected to collectively command a substantial market share ranging from 15% to 20% in 2021.
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In essence, the confluence of heightened environmental consciousness, changing consumer preferences, and the proactive adoption of sustainable labeling solutions by businesses positions the Sustainable Labels Industry for sustained and robust growth in the foreseeable future.
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 Industry.
Drivers:
- Environmental Concerns: Growing awareness of environmental issues and the need to reduce carbon footprints have led to increased demand for sustainable labeling options. Companies are adopting eco-friendly labels to demonstrate their commitment to environmental responsibility.
- Government Regulations: Stringent environmental regulations and labeling requirements in many regions mandate the use of sustainable labeling materials. Compliance with these regulations is a strong driver for the adoption of sustainable labels.
- Consumer Preferences: Modern consumers are more environmentally conscious and prefer products with sustainable labels. Brands that use sustainable labels often gain a competitive edge and appeal to eco-conscious consumers.
- Brand Image: Adopting sustainable labeling practices enhances a brand’s image and reputation. Companies that demonstrate sustainability in their packaging and labeling are often viewed more favorably by consumers.
- Circular Economy Initiatives: The shift toward circular economy practices, such as recycling and responsible packaging, has boosted the demand for sustainable labels that align with these principles.
Restraints:
- Cost Considerations: Sustainable labeling materials and technologies can be more expensive than conventional options. Some businesses may hesitate to switch to sustainable labels due to higher upfront costs.
- Limited Material Options: Sustainable label materials may have limitations in terms of appearance, durability, or functionality compared to traditional materials. This can restrict their use in certain applications.
- Supply Chain Challenges: Sourcing sustainable label materials and integrating them into the supply chain can be complex. Companies may face challenges related to material availability, logistics, and lead times.
- Adhesive Properties: Sustainable labels may have adhesive properties that differ from traditional labels. Compatibility with various packaging materials and label removal during recycling processes can be a concern.
- Market Competition: The sustainable labeling industry is competitive, with various labeling solutions available. Some businesses may face challenges in finding the right sustainable label solution that meets their specific needs and branding requirements.
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Key Takeaways from Sustainable Labels Industry
-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 the 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 Industry by the end of the forecast period.
-The Sustainable Labels Industry in India is poised to grow at a steady pace over the next ten years.
Key Market Players
- HERMA GmbH
- CCL Label
- Avery Products Pty Ltd.
- THE Label Makers LIMITED
- Berkshire Labels
- Crown Labels Mfg. Co Ltd
- Weber Packaging Solutions.
- JK Labels
- Signal Labels Ltd
- VR Labels & Stickers
- Elevate Packaging, Inc.
- Innovia Films Inc.
- Checkpoint Systems, Inc.
- Impression Label
- WEAVABEL
- Paramount Labels
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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