The global in-mold labels market is expected to attain a valuation of US$ 1,133.4 Million in 2023 and is projected to reach US$ 1,568.1 Million by 2033, trailing a CAGR of 3.3% during the forecast period.
The market is being driven by various factors, including the growing demand for labels in food packaging, the increasing desire among customers for attractive packaging, and the transparent appearance and no glue requirement in-mold labels. These factors are contributing to the expansion of the global in-mold labels market.
In-mold labels are gaining popularity in emerging economies as an environmentally friendly labeling solution for packaging needs. Many consumer durable and personal care industry players are actively seeking in-mold labels as a viable labeling option. The increasing product penetration in various emerging economies is further expected to drive market growth.
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The demand for product identification labels in consumer durable goods is anticipated to increase due to their ability to withstand harsh conditions. The rise in disposable income and the rapid adoption of modern lifestyles are expected to drive demand for consumer durables in the coming years. This may positively affect market growth in the coming years. Additionally, consumer electronics manufacturers are focusing on producing quality products with enhanced features at affordable prices, which is also likely to fuel the demand for in-mold labels in the near future.
Key Takeaways:
- Europe is expected to dominate the market while growing with a CAGR of 3.4% during the forecast period.
- The market in India is projected to witness a promising CAGR of 6.1% during the forecast period.
- China is expected to grow at a 5.4% CAGR during the forecast period.
- By material, polypropylene is projected to lead the segment and is estimated to grow with a CAGR of 6.8% during the forecast period.
- By end-use, the food segment is expected to lead the market. It is expected to grow with a CAGR of 6.4% throughout the forecast period.
“Surging demand for product identification labels and attractive packaging is estimated to drive the demand for in-mold labels over the forecast period,” says an analyst at FMI.
Competitive Landscape:
The in-mold labels market is extremely competitive and consists of various key industry players. These players are heavily investing in manufacturing in-mold labels.
The key industry players are CCL Industries Inc., Constantia Flexibles Group GmbH, Coveris Holding S.A, Avery Dennison Corp., Multicolor Corporation, Fuji Seal International Inc., Tasus Corporation, Canyon Graphics Inc., Huhtamaki Oyj, Korsini Ambalaj San. Tic. A.S., Walle Corporation, Duratech Industries Inc., Admark Visual Imaging Limited, Aspasie Inc., General Press Corporation.
Some recent developments:
Key industry players leverage organic growth strategies like acquisition, mergers, partnerships, and collaboration to enhance their product portfolio. This is expected to fuel the demand for in-mold labels in the forecast period.
- In April 2021, Multi-Color Corporation (MCC) announced the acquisition of Paris Art Label Company, Inc., a United States-based label manufacturer that specializes in in-mold labeling (IML) for the food and beverage industry. The acquisition is expected to strengthen MCC’s position in the in-mold labeling market.
- In January 2021, CCL Industries Inc. merged its label and consumer packaging group with Graphic West International, a United States-based manufacturer of In-mold labels and other packaging solutions. The merger is expected to create a leading provider of packaging solutions, including in-mold labels, for the food and beverage, healthcare, and consumer goods industries.
- In September 2020, Constantia Flexibles launched a new range of In-mold labels for the food and beverage industry. The labels are designed to offer high-quality printing and improved sustainability and are available in various shapes and sizes.
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In-mold Labels Market Landscape
- CCL Industries Inc.,
- Constantia Flexibles Group GmbH,
- Coveris Holdings S.A.,
- Avery Dennison Corp.,
- Multicolor Corporation,
- Fuji Seal International Inc.,
- Huhtamaki Oyj,
- Korsini Ambalaj San Tic. A.S.,
- Walle Corporation,
- Duratech Industries Inc.,
- Tasus Corporation, Canyon Graphics Inc.,
- Admark Visual Imaging Limited,
- Aspasie Inc.,
- General Press Corporation,
- John Herrod & Associates Pty Ltd.,
- Serigraph Inc.,
Smyth Companies LLC, Hammer Packaging Corp., and Inland Label and Marketing Services LLC. are leading players in the market. The Tier 1 players hold 15-20% in the global market for in-mold labels.
In-mold Labels Market by Category
By Process:
- Blow Molding
- Injection Molding
- Thermoforming
By Material:
- Polypropylene (PP)
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
- Polyethylene (PE)
- Barrier
- Paper & Others
By Printing Method:
- Gravure
- Flexo
- Offset
- Screen
- Digital
- Others
By End-use:
- Food
- Beverage
- Pharmaceuticals
- Domestic Care
- Personal Care & Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa (MEA)
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