by The global In-mold Label Market is estimated to be valued at US$ 4.44 Bn or Mn in 2023 and is expected to exhibit a CAGR of 22.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
In-mold labels are made of polypropylene and polyethylene. These labels are molded along with the plastic parts during manufacturing process. In-mold labeling provides durability and aesthetics to the products.
Market key trends:
Growing demand for personalized and customized labels from food and beverage industry is one of the major trend in the In-mold label market. Manufacturers are offering wide range of design and size options to cater to the personalized labeling needs of food and beverage brands. This has boosted the adoption of digital printing technology among in-mold label manufacturers. Customized labels help brands to enhance their brand appeal and drive faster shelf sales.
SWOT Analysis
Strength: In-mold label decorates products attractively as it is molded with the product which makes the labeling process efficient. It prevents products from external damages.
Weakness: High initial setup costs for new in-mold label manufacturing lines. Limited design options for in-mold labels as compared to pressure sensitive labels.
Opportunity: Growing demand from food and beverage industry for aesthetic and tamper proof packaging. Increasing preference for sustainable and recyclable packaging solutions.
Threats: Availability of substitutes like pressure sensitive labels and sleeve labels. Stringent regulations regarding use of materials in food contact labels.
Key Takeaways
The global In-mold Label market is expected to witness high growth, exhibiting a CAGR of 22% over the forecast period, due to increasing demand from food and beverage industry. Growing consumption of packaged food and beverages driven by changing lifestyles and increasing disposable income is fueling the market growth. In-mold labels are ideal for food packaging as they are tamper proof, durable and provide product protection and brand visibility.
Regional analysis: Asia Pacific dominates the global in-mold label market and is expected to grow at the fastest rate during the forecast period. Abundant availability of raw materials and cheap labor in the region attracts manufacturers to set up production bases. Also, growing food processing industry in China, India and other developing nations drives the market growth.
North America is another major market for in-mold labels owing to high demand from dairy, condiment and alcoholic beverages industry. Mandatory labelling regulations in the region further boost the product adoption.
Key players operating in the In-mold Label market are Avery Dennison, CCL Industries, Constantia Flexibles, Jindal Films Americas LLC, Coveris, EVCO Plastics, and Inland labels. The market is fragmented with presence of global as well as regional players. The companies are focusing on new product development, mergers, acquisitions and partnerships for business expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
