The global Sustainable Labels Market is positioned for substantial expansion, with a projected 2022 worth of US$ 15.6 billion. With a strong compound annual growth rate (CAGR) of 5.7% from 2022 to 2032, this rising trajectory is expected to continue, with a final target of US$ 27.2 billion by 2032.
The need for packaged foods, growing environmental concerns, and improvements in printing technology are some of the main drivers driving the growth of the worldwide sustainable labels market.
Furthermore, sustainability has grown to be a significant element influencing customers’ decisions to buy, which is predicted to support overall sales of sustainable labels. Important firms are also starting to emerge in the industry; in 2021, it is anticipated that the top 5 suppliers will hold a sizable market share of between 15% and 20%.
The key factor supporting this increase is the global upsurge in demand for environmentally friendly packaging options and sustainable labeling techniques, which is accompanied by growing environmental concerns. Consumers belonging to Generation Z and Millennials today use their purchasing power to support companies that uphold moral standards, particularly environmental sustainability.
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Key Trends
Labels serve as vital communicators, conveying credentials, usage instructions, warnings, and more to consumers. The escalating environmental consciousness is steering the market towards sustainable labels, given their integral role in packaging across various industries. The longevity of labels has emerged as a critical concern for both manufacturers and consumers, emphasizing the need for sustainable alternatives.
From large-scale industries to small enterprises, labels find universal application in everyday products. Nevertheless, in response to mounting environmental apprehensions, sustainable labels are swiftly supplanting traditional counterparts, aligning with the growing emphasis on environmentally friendly practices.
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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 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 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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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.
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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 Market 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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