NEWARK, Del, July 24, 2024 (GLOBE NEWSWIRE) -- The global in-mold label market size is valued at USD 1,133.9 million in 2024. By 2034, the value is expected to reach USD 1,501.8 million. This indicates an expansion at a CAGR of 2.8% from 2024 to 2034. The in-mold label industry is propelled by several key drivers, including the growing demand for high-quality, visually appealing packaging solutions across various end-user industries such as food and beverage, cosmetics, and consumer goods. In-mold labels offer superior graphics and aesthetic appeal compared to traditional labeling methods, driving their adoption among brands aiming to stand out on crowded retail shelves.
The efficiency of in-mold labeling processes, which seamlessly integrate labeling during the manufacturing of plastic containers, reduces production time and costs, further incentivizing companies to switch to this innovative labeling technology. Furthermore, the rise of eCommerce and online retail platforms has heightened the importance of eye-catching packaging to attract consumers browsing digital shelves, positioning in-mold labels as a strategic choice for brands looking to enhance their online presence.
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The in-mold label industry faces certain restraints, including the initial investment required for tooling and equipment setup. The specialized nature of in-mold labeling machinery and molds can lead to higher upfront costs compared to traditional labeling methods, presenting a barrier to entry for small and medium-sized enterprises (SMEs).
The complexity of in-mold labeling processes necessitates skilled labor and technical expertise, which may pose challenges for companies transitioning from conventional labeling techniques. However, advancements in in-mold label materials and printing technologies are opening up new opportunities for customization and personalization, allowing brands to create unique and differentiated packaging designs that resonate with target consumers.
What is Fuelling the Demand in the In-mold Labels Market?
The injection molding process and in-mold labeling machines used for the purpose of manufacturing enable faster and greater efficiency in production as compared to other printing processes. Implementation of in-mold labeling processes and machines that rely on recycled materials has been identified as a sustainable manufacturing move.
This also eventually leads to a decrease in pollution along with the achievement in efficiency in production. Thus, innovative food-grade un-mold labels are gaining worldwide popularity, creating immense growth opportunities for the market.
“The in-mold label industry presents significant opportunities for innovation and market expansion, driven by the growing consumer preference for sustainable packaging solutions. With increasing regulatory pressures and consumer awareness regarding environmental sustainability, brands are increasingly turning to in-mold labeling as a green alternative to conventional labeling methods, positioning the industry for continued growth in the sustainable packaging sector.”- says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Global In-mold Labels Market:
- Injection molding dominates the market with 70% of the market share and is anticipated to expand at a 3% CAGR through the forecast period.
- The United States is anticipated to hold 87% of total sales in North America throughout the forecast period and is expected to reach up to USD 341.8 million by 2034.
- The food industry captures half of the value share of in-mold labels, indicating its prominence as a consumer of in-mold labels, and is set to expand by 1.3 times its current market value by 2034.
- Mexico is projected to showcase remarkable growth in the upcoming period, accounting for almost 38.8% market share in 2024, with a CAGR of 3.8% through 2034.
- The polypropylene segment dominates the market with an 80.9% value share in 2034 and is anticipated to grow with a CAGR of 3.0% during the forecast period.
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Market Competition:
Key players operating in the In-mold labels industry are investing in advanced printing technologies to achieve high-quality graphics and improved aesthetics. Manufacturers are developing and innovating new materials to meet the demand for eco-friendly packaging. Companies are investing in automated machinery and robotics to improve the quality and efficiency of production.
CCL Industries Inc., Constantia Flexibles Group GmbH, Coveris Holding S.A, Avery Dennison Corp., Multicolor Corporation, Fuji Seal International Inc., Huhtamaki Oyj, Sonoco Products Company, Berry Global Group are some of the noticeable players in the market. The tier 1 players in the market hold 15 to 20% of the overall in-mold labels market which includes Multicolor Corporation, Avery Dennison Corp., and Constantia Flexibles Group GmbH.
- In April 2023, Multi-Color Corporation announced the purchase of Korsini, a prominent developer of in-mold label (IML) systems located in Turkey.
- In July 2023, CCL Industries purchased Creaprint S.L., an Alicante, Spain-based mold label ("IML") production expert.
- Sonoco created new goods and invested in manufacturing lines in March 2023 to provide high-quality, distinctive IML items that were displayed at Interpack.
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Future Market Insights, in its new report, offers an unbiased analysis of the global market for in-mold labels, analyzing historical demand from 2019 to 2023 and forecast statistics for 2024 to 2034. The study reveals market growth projections based on process (blow molding, injection molding, and thermoforming), material (polypropylene, polyethylene terephthalate, polyethylene, polystyrene, barrier, paper, and others), printing method (gravure, flexographic, offset, screen, digital, and others), and end use (food, beverage, pharma, domestic care, cosmetics & personal, and others).
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Key Segments of In-mold Label Market:
By Process:
The industry is segregated into blow molding, injection molding, and thermoforming.
By Material:
In terms of material, the industry is divided into polypropylene, polyethylene terephthalate, polyethylene, polystyrene, barrier, paper, and others.
By Printing Method:
In-mold labels with gravure, flexographic, offset, screen, digital, and other printing methods are described.
By End-use:
A few of the important end-use include food, beverage, pharmaceutical, domestic care, cosmetics & personal, and others.
By Region:
Key countries of North America, Latin America, Asia Pacific, Excluding Japan, Japan, Western Europe, Eastern Europe, and the Middle East and Africa, are covered.
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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About the Packaging Division at Future Market Insights:
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 3,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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