COVID-19 Impact on Vegetable-based Inks Market

• The COVID-19 based lockdown situations have been adversely affecting the performance of the packaging industry. The economic slowdown due to the COVID-19 pandemic outbreak has led to a decline in trade and production volumes in major manufacturing countries such as China, India, and Japan. Increase in focus on environmental awareness and steps taken toward recovery in the industrial sector are expected to augment the demand for vegetable-based inks in the near future. Thus, the vegetable-based inks market is projected to witness strong growth with the recovery of the packaging industry in the near future.

Key Drivers and Restraints of Vegetable-based Inks Market

• The manufacturing process of vegetable-based inks includes soybean, linseed (flax), castor, canola, and safflower, which are refined and blended with resins, dyes, pigments, or waxes individually. During the deinking process (the industrial process of removal of printing ink), vegetable-based ink gets removed faster as compared to conventional ink. In terms of degradability, the speed of the degradation of vegetable-based ink is double compared to that of regular ink. Additionally, regular ink is made from petroleum-based products and releases toxic chemicals during the deinking process.
• Innovations in technology, environmental concerns, and the development of cost-effective end products are among the key drivers of the vegetable-based inks market
• Vegetable-based inks take more time to dry as compared to conventional inks. This is the only factor that is likely to hamper the vegetable-based inks market.

Vegetable-based Inks: Segmentation by Application

• Based on application, the vegetable-based inks market can be segmented into label & packaging, commercial printing, publication, and others
• Label & packaging is a rapidly-growing segment of the global vegetable-based inks market. Packaging of any product requires printing of basic product information, such as brand name, content used in the product, and price. Therefore, inks are extensively used in the packaging industry for providing product information as well as making a product attractive for consumers.

Vegetable-based Inks: Segmentation by Product

• Based on product, the vegetable-based Inks market can be divided into soy-based ink, flint ink, and others
• Soy-based ink is an ideal alternative to petroleum or oil-based inks. Not only this ink is eco-friendly but it can be used to produce brighter and more vibrant colors.
• Soy-based ink is made from soybeans. The oil is refined and then mixed with other environment-friendly compounds such as natural resins and wax. The fine bright colors that can be produced with soy-based inks are a result of the soy oil. It is much clearer and less oily than petroleum-based ink. Soy ink is a frequent choice of newspapers and other mass-produced documents since it can produce bright colors and is substantially more cost-effective than other vegetable-based inks.

Asia Pacific to Hold Leading Share of Vegetable-based Inks Market

• Asia Pacific is expected to hold major share of the global vegetable-based inks market during the forecast period, with China dominating the market in the region
• Countries in Asia Pacific such as Japan, India, and China need to abide by regulations related to VOC emissions. This is boosting the demand for vegetable-based packaging in the region.
• Countries such as China, India, and South Korea are witnessing steady growth in the manufacturing sector. Rise in exports to countries in North America and Europe has been driving the consumption of packaging materials. This is boosting the vegetable-based inks market in Asia Pacific.