Analyst Point of View
The global eco-friendly labels market is expected to witness tremendous growth during the forecast period 2023-2031. Rising awareness amongst a huge population in numerous countries has led to the demand of eco-friendly labels. Moreover, various industries such as fashion, retail and consumer goods sectors are incorporating eco-friendly labels for their products to lure customers as well as contribute to sustainable environment. Market players are looking forward to introduce advanced and renewable materials for eco-friendly labels which will boost the growth of the eco-friendly labels market in the upcoming years.
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Global Eco-Friendly Labels Market Introduction
Any labelling on a product that attributes to the product’s attention to environmental safety in comparison to other labels is considered eco-friendly. In other words, environmentally friendly product labels use unique symbols to let the reader know that the item is better for the environment than an alternative. Several industries are attempting to minimize their environmental impact in response to the growing push for environmental consciousness, whether it be by using less dangerous chemicals, switching to renewable energy sources, or producing goods that are recyclable or biodegradable. The U.S. Environmental Protection Agency’s most recent data shows that nearly 28% of all municipal solid garbage in America is made up of containers and packaging wherein approximately only half of that is recycled. The majority ends up in landfills or, worse yet, contaminates the country’s waterways and public places.
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According to McKinsey analysis, approximately 20% of all single-use product packaging seeps into the environment globally, frequently ending up in the ocean where plastic trash builds up into enormous blobs like the Great Pacific Garbage Patch. In the world, just 14% to 18% of plastic garbage is recycled. On the other hand, the Gen Z and Millennial generations are well known for leveraging their purchasing power to promote businesses that support moral values like environmental sustainability. Businesses are looking forward to improving their reputation by using eco-friendly product labelling that can foster customer loyalty among this influential buying group. According to a survey, the majority of both categories would be ready to spend more than 10% on sustainable items, with 62% of each group saying they prefer to purchase from sustainable firms.
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Global Eco-Friendly Labels Market Developments
- As in order to lessen the carbon footprint of the company that produces them, eco-friendly labels are often made with eco-friendly materials. Materials that are recyclable, renewable, or recycled are viable options for product labels. It is possible for this to apply to the whole label or to specific components like the printing surface, the ink or the adhesive. The destruction of the world’s forests and rainforests is mostly due to the desire for paper. However, it is possible to produce paper-like materials without using trees. Bamboo, sugarcane, and cotton can all be used to create label stock without using any trees. Although it does contain a little amount of plastic, “stone paper,” which is created primarily from calcium carbonate, is not at all made from plants.
- Asia Pacific region is anticipated to be the fastest growing in the global eco-friendly labels market during the forecast period. The market for eco-friendly labelling has expanded steadily over the last ten years, with emerging Asia’s economic expansion serving as a major growth catalyst. The tremendous expansion of organized retail and the rising use of packaging to satisfy consumer demand for convenience are two major developments. Due to a frequent absence of fully developed packaging-collection and recycling systems at the scale required to manage rising trash, this rapid expansion in eco-friendly labels has resulted in an increased environmental burden. When it comes to consumers’ willingness to pay for environmentally friendly labelling, the same conclusion can be drawn wherein China, India, and Indonesia have much higher readiness to pay for eco-friendly labelling than any other country in the world which is driving the growth of global eco-friendly labels market.
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Global Eco-Friendly Labels Market Snapshot
|
Growth Rate |
8.6% |
|
Market Segmentation |
· By Type
o Pressure Sensitive Labels (PSL) o Shrink Sleeve Labels o Tree-Free Label Stock o BioStone Labels o Vellum Labels o Others · By Printing o Custom Printed o Blank · By Material o Paper o Plant Based § Cotton § Sugar Cane § Agave § Grass Paper § Others o Compostable § PLA § Compostable Direct Thermal Paper § Compostable Semi-Gloss paper o Others · By Distribution Channel o Direct o Indirect · By End User Industry o Food and Beverage o Healthcare o Personal Care o Pharmaceutical o Automotive o Electronics o Clothing and Apparel o Chemicals o Consumer Goods o Others |
|
Companies Included |
· Avery Products Corporation
· CCL Industries. · Consolidated Label Co · Crown Labels Mfg Co Ltd · Elevate Packaging · GREEN LABEL · Imprint Enterprises · JK Labels · Labels Plus · Lightning Labels · Paramount Labels · Performance Label Co · PURE Labels · SATO Holdings Corporation. · Sustainable labels · The Label Link · The Label Printers, LP · Weber Marking Systems GmbH · Other market participants
|
|
Regions Covered |
· North America (U.S., Canada, Mexico, Rest of North America)
· Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe · Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific · Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa) · Latin America (Brazil, Argentina, Rest of Latin America) |
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