How to convert a mask image to a .wkt file in Matlab

I have a masked image containing labels of objects (buildings, fields,etc.) and I want to convert this image directly to a wkt file in terms of polygons. The way I have approached is to detect contours of each label and thus getting the polygon coordinates for each of the labels. The next step is to convert this polygon coordinates to a wkt file. Is there any way to achieve this? Any help is appreciated. Thank you.