The In-Mold Label Market Is Estimated To Witness High Growth Owing To Growing Demand For Sustainable Packaging Materials
The in-mold label market is estimated to be valued at US$ 4.44 Bn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The in-mold label market refers to labels that are molded into plastic products during the manufacturing process known as injection molding or blow molding. In-mold labels eliminate the need for adhesive labels and are embedded within the product material. They are widely used on various types of plastic containers, bottles, tubes, caps, closures and others. Their ability to withstand temperature variations and harsh chemical environments makes them suitable for food & beverage, personal care, automotive and other packaging applications.
Market Dynamics:
The key drivers fueling the growth of the in-mold label market include growing demand for sustainable packaging materials and rise in environmental awareness. In-mold labels minimize packaging waste and help brand owners achieve their sustainability goals. They also provide excellent product protection, durability and are resistant to moisture, heat and other environmental conditions. Moreover, in-mold labels offer design freedom and flexibility to packaging manufacturers and brand owners for product differentiation. Recent technological advancement such as digital printing is allowing personalized and short-run productions of in-mold labels.
SWOT Analysis
Strength: In-mold label provides durable labeling and branding for products, attractive surface finish, and strong bonding. It offers scratch and abrasion resistance and withstands extremes of temperature and weathering.
Weakness: High initial setup cost for tooling and molds. Frequent design changes may require new mold tooling.
Opportunity: Growing demand from industries such as automotive, chemical, food and beverage, healthcare, and personal care products drive market growth. Increasing focus on sustainability to boost in-mold labels adoption.
Threats: Availability of substitutes such as pressure sensitive, glued, and sleeve labels poses threat to market. Decline in automotive industry amid COVID-19 pandemic slowed down demand.
Key Takeaways
The global In-mold Label Market Growth is expected to witness high growth, exhibiting CAGR of 22% over the forecast period, due to increasing demand from food and beverage industry. Cost-effective and durable nature of in-mold labels drives its use in food packaging.
Regional analysis: North America dominates the global market, owing to early adoption of innovative labeling technologies. Asia Pacific exhibits fastest growth due to expansion of food and beverage industry in developing countries such as China and India.
Key players analysis: 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 consolidated in nature with top players accounting for majority share.
For more insights, read- https://www.newsanalyticspro.com/in-mold-label-market-trends-size-and-share-analysis/
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