The global ethical labels market size reached US$ 999 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,487 Billion by 2028, exhibiting a growth rate (CAGR) of 6.8% during 2023-2028. The increasing preference for ready-to-eat (RTE) food products, integration of advanced technologies, and initiatives undertaken by governing agencies represent some of the key factors driving the market.
|Ethical Labels Market Size in 2022
||US$ 999 Billion
|Ethical Labels Market Forecast in 2028
||US$ 1,487 Billion
|Ethical Labels Market Growth Rate 2023-2028
Ethical labels are used to identify products or services that have been produced in an ethical manner. They indicate that a product is manufactured using environment friendly practices and meets specific sustainability standards. They provide information that consumers use to make a conscious consumption choice based on ethical considerations. They are utilized by authorities as a tool in consumer politics to ensure consumers receive information and steer social development in the desired direction. At present, the rising popularity of organic food on account of the surging prevalence of various cancer, diabetes, and cardiovascular diseases is catalyzing the demand for ethical labels across the globe.
Ethical Labels Market Trends:
The increasing concern about food safety, hygiene, and reliability represents one of the major factors driving the demand for ethical labels around the world. Moreover, shifting consumer preferences for ready-to-eat (RTE) food products on account of rapid urbanization, rising working population, hectic schedules, and the expanding purchasing power of consumers are catalyzing the demand for ethical labels worldwide. In addition, the growing consumption of halal food is influencing the market positively. Apart from this, there is an increase in the integration of blockchain, radio frequency identification (RFID) chips, a global positioning system (GPS), artificial intelligence (AI), and machine learning (ML) in ethical labels to improve transparency and traceability in supply chains. These advanced technologies enable the creation of a decentralized, tamper proof record of transactions and are used for tracking the movement of goods from the point of origin to the point of sale. Ethical labels advancements provide information about the location and conditions under which products are produced and analyze data and identify patterns and trends to address ethical and sustainability concerns in their supply chains. This, coupled with the incorporation of sensors in ethical labels to gather data about environmental conditions wherein products are manufactured, such as temperature, humidity, and air quality, and verify the sustainability claims made by companies is strengthening the growth of the market. Furthermore, governments of numerous countries are encouraging the uptake of sustainable farming practices, which is anticipated to create a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global ethical labels market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type, label type, and distribution channel.
Product Type Insights:
The report has provided a detailed breakup and analysis of the ethical labels market based on the product type. This includes foods and beverages. According to the report, foods represented the largest segment.
Label Type Insights:
- Sustainability and Fairtrade labels
- Animal Welfare Labels
- Vegan Labels
A detailed breakup and analysis of the ethical labels market based on the label type has also been provided in the report. This includes halal, organic, clean, sustainability and fairtrade labels, kosher, animal welfare labels, and vegan labels. According to the report, halal accounted for the largest market share.
Distribution Channel Insights:
The report has provided a detailed breakup and analysis of the ethical labels market based on the distribution channel. This includes online and offline. According to the report, offline represented the largest segment.
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for ethical labels. Some of the factors driving the Asia Pacific ethical labels market included the rising awareness among consumers, increasing popularity of packaged food, favorable regulations from governing agencies, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global ethical labels market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Abbot's Butcher Inc., Archer-Daniels-Midland Company, Cargill Inc., Garden of Life (Nestlé S.A.), Go Macro LLC, Kerry Group plc, Koninklijke DSM N.V., Marks and Spencer Group plc, The Hershey Company, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Product Types Covered
|Label Types Covered
||Halal, Organic, Clean, Sustainability and Fairtrade labels, Kosher, Animal Welfare Labels, Vegan Labels
|Distribution Channels Covered
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Abbot's Butcher Inc., Archer-Daniels-Midland Company, Cargill Inc., Garden of Life (Nestlé S.A.), Go Macro LLC, Kerry Group plc, Koninklijke DSM N.V., Marks and Spencer Group plc, The Hershey Company, etc.
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Key Questions Answered in This Report:
- How has the global ethical labels market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global ethical labels market?
- What are the key regional markets?
- Which countries represent the most attractive ethical labels markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the label type?
- What is the breakup of the market based on the distribution channel?
- What is the competitive structure of the global ethical labels market?
- Who are the key players/companies in the global ethical labels market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the ethical labels market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global ethical labels market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the ethical labels industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.