Wilmington, Delaware, United States, , Nov. 17, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Eco-friendly brands in various end-use industries, such as pharmaceuticals, cosmetics, food & beverages (F&B), and personal care, are strengthening their sustainability credentials by increasingly adopting eco-friendly label materials. The market is projected to expand at a CAGR of 7.9% during the forecast period of 2021-2029. Several firms are growing their Eco-Friendly Labels Market shares by tapping into the vast demand for sustainable packaging and labelling materials in the F&B industry.
Recent Eco-Friendly Labels Market growth forecast by TMR study asserts that pressure-sensitive labels will witness a robust uptick in demand on account of their ease of application and remarkable tear stability, among other characteristics. Furthermore, the authors projected the digital printing segment to advance at a CAGR of 8.7% during the forecast period. Recent Eco-Friendly Labels Market trends underscore that rising awareness of eco-friendly packaging materials among urban consumers plays a pivotal role in engendering growth prospects.
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Key Findings
- Rise in Demand from Food & Beverages Industry: The TMR study found that firms in the Eco-Friendly Labels Market are witnessing enormous revenue potential from the demand in the food & beverages industry. The rise in consumption of perishable food products, including a variety of frozen food products, will steer the growth opportunities for market players. Furthermore, the use of eco-friendly labels for packaging beverages is also expected to generate substantial revenue streams.
- Use of Paper and Eco-Plastics to Proliferate: There is an overwhelming demand for eco-friendly labels made of paper in various end-use industries. Paper-based labels are estimated to account for more than 4/5th of the share, in terms of value, of all materials in the Eco-Friendly Labels Market during the forecast period. Adoption of matte and semi-gloss paper-based labels is likely to boost the growth of many market players, asserted the study. Aside from paper, eco-friendly plastics are also expected to gather steam among manufacturers of eco-friendly labels. Hence, environmentally friendly brands are keenly reducing the percentage of non-biodegradable elements in their labelling products.
Eco-Friendly Labels Market: Key Drivers
- Growing awareness of eco-friendly packaging and labelling products worldwide especially among urban consumers in conjunction with the willingness to pay higher prices for these is a key driver of the Eco-Friendly Labels Market.
- Proliferating utilization of earth-friendly labelling materials in the food & beverages industry is propelling the prospects of the market. Brands globally are geared toward reducing non-degradable components in the packaging.
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Eco-Friendly Labels Market: Regional Growth Dynamics
- North America has been a highly lucrative region in the global Eco-Friendly Labels Market. The revenue growth has hinged on the vast customer base. Europe has also witnessed a rise in lucrative demand for eco-friendly labels.
- Asia Pacific is expected to hold a major market share globally during the forecast period, found the TMR study. The growth is propelled by the enormous popularity of eco-friendly labelling products in lowering the carbon footprint of manufacturers. The rise in awareness of planet-friendly packaging materials in emerging economies, especially India and China, will create incredible growth opportunities in the near future
Eco-Friendly Labels Market: Key Players
The market is witnessing intense competition to new entrants and emerging players owing to the predominance of incumbent leading players.
Some of the key market players are
- The Label Makers Limited,
- Blair Labeling Inc.,
- WEAVEBEL Ltd.,
- Berkshire Labels,
- Interfas,
- Crown Labels Mfg. Co. Ltd.,
- Labels Plus, Signal Ltd.,
- JK Labels,
- VR Labels & Stickers,
- Paramount Labels,
- Hally Labels,
- HERMA Labels,
- CCL Industries,
- Elevate Packaging Inc. and SATO Holdings Corporation.
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Eco-Friendly Labels Market Segmentation
Material
- Paper
- Semi-gloss/Matte Paper
- Vellum Paper
- Direct Thermal Label Paper
- Others
- Plastic
- PLA
- PHB
Label Type
- Pressure Sensitive Labels (PSL)
- Shrink Labels
- Stretch Labels
- Wet Glue Labels
- Others (In-mold, Pre-gummed, etc.)
Printing Technology
- Flexography
- Digital
- Gravure
- Screen
- Offset
End Use
- Food & Beverages
- Pharmaceutical
- Cosmetics & Personal Care
- Homecare & Toiletries
- Clothing & Apparels
- Chemicals
- Automotive
Region
- North America
- Latin America
- Europe
- Asia Pacific (APAC)
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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