Rising Concerns Around High VOC Content of Conventional Ink Printing Solutions Drive Vegetable-based Inks Market Growth
Vegetable ink is an innovative, eco-friendly ink with many benefits over traditional petroleum-based ink. Vegetable ink is ink made from linseed (flax), castor, canola, safflower, soybeans, corn oil, or other vegetable-based oil. Soybean and linseed are the most used oils, but it is not uncommon to use a variety of different oils. From a purely technical point of view, they allow a better colour transfer. Indeed, the brightness and intensity of the colours are increased compared to inks using conventional solvents. They are more stable which makes it possible to increase the speed of impression and to limit the losses. On a large scale, this even becomes an economic advantage. They dry faster and have a better resistance to rubbing. They are therefore more resistant.
Moreover, vegetable inks degrade naturally and allow a reduction in the use of volatile organic compounds (VOCs), which raises the growth potential of global vegetable-based inks market. Technological advancements, greater emphasis on R&D, environmental concerns, and the development of cost-effective end products are some of the critical drivers of the vegetable-based inks market. The rigorous rules worldwide are compelling and essential for firms to focus on manufacturing eco-friendly rather than traditional inks. Some significant firms are investing in eco-friendly inks to meet strict environmental requirements designed to reduce pollution caused by the discharge of other inks into the environment.
Governments, and Regulatory Entities Play a Significant Role in Strengthening Vegetable-based Inks Market
One of the primary factors driving the market for eco-friendly ink is the growing concern about VOC emissions. The harmful metals in several ink printing solutions have prompted the industry to transition to eco-friendly alternatives. Since Vegetable-based ink is manufactured entirely from vegetable oil, the VOC emission is zero. In 2021, the US released around 11.9 million tonnes of VOC. With the growing amount of VOC emission, the demand for eco-friendly inks will also increase, in turn accelerating the growth of vegetable-based inks market.
The governments of several countries are taking concrete steps to reduce VOC emissions, particularly in the packaging sector, by using vegetable-based inks. Growing environmental awareness and stricter pollution control legislation and policies are expected to boost the use of vegetable-based inks. The state of New England established legislation in 2022 requiring several facilities to reduce VOC emissions. Changes in procedures, such as switching to low VOC content coatings or installing air pollution control equipment, can reduce these emissions (such as carbon adsorbers or incinerators). As more developed countries reduce VOC coating, the need for vegetable-based inks is expected to rise.
Flexographic Process Dominant in Vegetable-based Inks Market Increasing Use of Various Packaging Materials
Flexography is predicted to account for a significant proportion of the global market throughout the forecast period and to maintain its position throughout the forecast period. Flexographic printing is widely used for printing plastics, metallic films, cellophane, and other smooth surfaces in various packaging applications. It's also excellent for large-format and high-quality printing. Flexographic printing is becoming increasingly common in food packaging. The growing popularity of advertising media and textile applications will likely create opportunities for flexographic printing inks market participants. Increasing demand for solvent ink solutions in the flexographic printing inks sector will boost the ink solvents market during the projected period.
Market in Asia Pacific Awaits Massive Gains from Rapid Expansion of Packaging Industry
In the forecast period, Asia Pacific will have the highest value share of the worldwide vegetable-based inks market. The region's large share can be attributed to the significant demand for vegetable-based inks in the food and beverage, healthcare, textile, and publishing industries. Factors such as increased disposable income, rising consumer spending, and a growing population have fuelled demand for FMCG items, which has fuelled packaging requirements in Asia Pacific. The increased production of beauty and personal care goods in nations such as Japan, India, China, and ASEAN have fuelled regional packaging demand. After the United States, China has the world's second-largest cosmetics market. In 2019, the typical Chinese consumer spent 39 yuan on colour cosmetics. Consumers in first-tier cities spent an average of 183 yuan per capita, which was more than four times higher than the national average. With the growing usage of cosmetic products in China, the regional market will flourish in the coming years. Countries such as China, India, South Korea, and others are experiencing consistent expansion in the manufacturing sector. Increased exports to North American, and European countries have increased packaging material usage. The growing emphasis on environmental awareness and recovery efforts in the industrial sector is projected to boost demand for sustainable products. This is likely to augur well for vegetable-based inks market in the region.
The market for vegetable-based inks in North America is predicted to increase moderately. The rate of urbanisation and high growth opportunities provided by developing nations, as well as expanding end-use industries of vegetable-based inks, make it emergent and promising market for the forecast period. With the customers' hectic lifestyles and growth in on-the-go food consumption habits, there is a surge in demand for single-serve ready-to-eat food products. As a result, the use of vegetable-based inks in the packaging industry is becoming more prevalent. In 2020, 127.92 million Americans consumed complete frozen meals. The increased consumption of frozen and packaged food in the country will increase the demand for packaging, thus driving the regional vegetable-based inks market. Producers in the region are also going for eco-friendly packaging and natural products. Growing innovations in sustainable packaging are opening up new business prospects.
Global Vegetable-based Inks Market: Competitive Landscape
Market participants introduce new products and form alliances, collaborations, and partnership agreements. In May 2022, Siegwerk introduced a new UV offset ink series for paper and board applications with high bio-renewable content. Siegwerk's new SICURA Litho Pack ECO line delivers another sustainable ink option with a high bio-renewable component. This allows the company to grow its product through the circular economy. In May 2022, Flint Group officially launched its Kryoset Flint ink line. This ground-breaking innovation enables the manufacturing high-quality products within the conventional heat-set process without drying.
A few of the players in the vegetable-based inks market include The Dow Chemical Company, Sun Chemical, Kao Advanced Printing Solutions, Inks Kingwood Professional, Huber Group, Gans Ink, Toyo Ink LLC, INX International Ink Co, Synthotex Chemicals Pvt. Ltd., Earth Inks Group, Flint Group, Universal Color Corporation, Siegwerk Druckfarben AG & Co. KGaA, Wikoff Color Corporation, and Kwang Myung INK CO. Ltd.
Global Vegetable-based Inks Market is Segmented as Below:
By Printing Method
By Printing Substrate
By End Use
Key Elements Included In The Study: Global Vegetable-Based Inks Market
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