Ethical Label Market Size by Trends, Segmentation, Top Key Players, Growth and Forecast To 2022-2031

The Ethical Label Market is expected to register a CAGR of 7% over the forecast period 2022 – 2031. A high degree of awareness and concerns regarding the right food consumption is driving Food and Beverage companies toward transparency and adopting ethical labels for their products.

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– With the growing interest in ethical sourcing, fair trade practices, and sustainability among consumer groups, the ethical label market is highly influenced. Consumers are increasingly showing a high interest in knowing the impact of individual consumption food products on the environment, which is boosting the growth of the market.

– The ethical labels market is majorly driven by the acceptance of certain types of foods and beverages and the shift in consumers’ consumption habits. The contribution of Muslim and Jewish consumers can be attributed to the rise of halal and kosher ethical-certified products.

– The advocacy of high moral standards for manufacturing and consumption is increasingly influencing companies to opt for ethical labels, which promote environmental sustainability, social justice, animal well-being, equality, and adherence to a better workplace and worker qualities, thereby boosting the market.

– A sizeable population, especially millennials, has been influential in increasing the awareness toward clean and healthy certified products. This trend is growing in the baby boomer population as well. There is a gradual shift among consumers toward healthier eating habits. About 50% of the ethical labels demand is expected to be driven by millennial and Generation Z consumers by 2031.

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– Coronavirus outbreak is expected to have a positive impact on the ethical label market as governments across the globe have deemed food-related businesses essential, owing to which the demand for ethical labels from the industry is expected to be steady during the period. For instance, the US government has deemed food manufacturing and farming essential and which is expected to keep a steady flow of demand from the industry.

– However, the supply chain of raw materials and products are severely affected due to the logistics challenges faced by the vendors. Also, Stringent isolation rules across the globe have resulted in short supply of raw materials and workforce. But with the resurgence, the market is likely to grow over the coming years.

Key Market Trends

Beverages Type To Occupy Highest Market Share

– The beverage industry to occupy the highest market share as there is a growing concern over the consumption of alcoholic, carbonated, and sugar-based beverages, now the focus has shifted toward non-alcoholic, plant-based alternative beverages among health-conscious consumers world over. The emergence of plant-based beverages, such as packaged coconut water and non-dairy milk beverages, is another major driver for the vegan label market.

– Conventional beverages such as coffee, tea, cocoa-based, and packaged water are witnessing high adoption. Additionally, Halal ethical-certified products have found their way on packaged water, thereby gaining traction among consumers. Further, the adoption of low-calorie variants in conventional beverages such as carbonated soft drinks is also influencing the demand for clean labels.

– Soft drinks hold a significant share of the market studied, owing to the popularity of such drinks and increasing consumption across the world. Soft drinks offer a wide variety of flavors and formats, with something to suit every drinking occasion, according to UNESDA, low-calorie, sugar-free beverages currently account for up to 30% of sales in many European markets.

– Moreover, manufacturers in the beverage industry are choosing ethical label which is niche enough to differentiate them from other competitor brands and also want to hold appeal to a broad base of customers. This is further fuelling the growth of the ethical label market in the beverage industry.

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Asia-Pacific to Hold Maximum Share

– Asia-Pacific has experienced positive growth in the ethical label market and is estimated to witness significant growth during the forecast period due to the rising awareness among consumers and favorable regulations from the government. The disposable income of consumers in the region has witnessed significant growth, which has increased the standard of living of people in the region.

– The switching cost is becoming moderate due to reducing price differentiation of high-end and low-end products due to the emergence of several vendors in certain segments, such as halal, organic, and clean certifications. Several players are expected to expand their presence worldwide during the forecast period, especially in the APAC region.

– In the region, packaged foods are gaining high traction, owing to busy work schedules, rising number of working women, and shift toward on-the-go consumption, which is, in turn, expected to ascend the utilization of innovative and sustainable ethical label market across the food sector. This is likely to fuel the market’s growth during the forecast period.

Competitive Landscape

The ethical label market is fragmented in nature as the vendors are competing based on product quality, clean, free tags, and competitive pricing. Sustainable competitive advantage can be gained through innovation in design, technology, and application. Some of the key development in the market are:

– In April 2022 – Earth’s Own re-emerged onto the market with a new design, simplified product line, and a rallying call to join the plant-based revolution. Through this fresh re-brand and new eye-catching packaging, the Canadian-based company is educating the nation about the positive impact a plant-based lifestyle has on both the planet and people and aims to ignite a movement change at a time when nearly half of Canadians want to incorporate more plant-based foods into their diets.

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