The in-mold labels are decorative labels used extensively in the packaging of various consumer goods such as food and beverages, medical, personal care, automotive, and others. In-mold labels are made by printing or hot-stamping images, text, or graphic designs directly onto the labeling material before it is molded into the container. This allows for a strong, durable, and tamper-resistant label that is an integral part of the packaging.
The global In-Mold Label Market is estimated to be valued at Us$ 5.12 Bn in 2023 and is expected to exhibit a CAGR Of 5.6% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing demand from food & beverage industry: The food and beverage industry is a major end-user of in-mold labels as these labels provide high aesthetic appeal as well as protection from chemical and temperature exposure. Many beverage brands now prefer in-mold labels over pressure-sensitive and glue-applied labels as they are more durable and offer branding opportunities. Thus, the rising consumption of packaged food and beverages globally is expected to drive the growth of in-mold label market over the forecast period.
Another driver impacting the market growth is growing demand from blow molded containers. Blow molded containers have high usage in packaging of cosmetics, automotive, and pharmaceutical products. In-mold labels experience low rejection rates when used with blow molded containers. Furthermore, in-mold labels provide excellent adhesion to the blow molded containers such that the label becomes an integral part of the container itself. Thus, rising demand for blow molded containers from end-use industries is projected to support the market growth of in-mold labels during the forecast period.
SWOT Analysis
Strength: In-mold label provides precise digital printing with unlimited designs options. It also offers a glossier and crispier label appearance as compared to pressure-sensitive labels. In-mold label lasts the entire life of the product as it gets injected and molded with the product during manufacturing. This eliminates the chances of label falling or wearing off over time.
Weakness: In-mold labeling requires specialized printing and application equipment. The setup and tooling costs for in-mold processes are relatively high. In-mold labels cannot be applied as easily as pressure-sensitive labels if a part needs relabeling in the field.
Opportunity: Growing demand for recyclable and sustainable packaging solutions is driving the need for in-mold labels. In-mold labels integrate seamlessly into packaging and do not require additional adhesive layers, making the package easily recyclable. Increasing preference for personalized and customized product labeling also presents an opportunity for in-mold labels.
Threats: Fluctuations in raw material prices can increase the costs for in-mold label manufacturers. Strict environmental regulations around recyclability and reuse of packaging pose compliance challenges.
Key Takeaways
The Global In-Mold Label Market Demand is expected to witness high growth over the forecast period of 2024 to 2031. Rapid consumption of packaged consumer goods along with trends of sustainability and personalization in packaging is fueling demand for in-mold labels. The global in-mold label market is estimated to be valued at US$ 5.12 Bn in 2023 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
Regional analysis:
North America currently dominates the global in-mold label market owing to strong demand from industries such as automotive, personal care, and food & beverage. Asia Pacific is projected to be the fastest growing regional market due to robust manufacturing activity and rising middle-class population in countries such as China, India.
Key players:
Key players operating in the in-mold label market are Apollo Tyres, Bridgestone Corporation, Continental AG, Pirelli & C SpA, Michelin, and Trelleborg Wheel Systems. These companies are focusing on new product development, expansions, and acquisitions to expand their market presence.
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