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, rising at a CAGR of 3.3% from 2023 to 2033.
One of the main drivers of the market is the growing demand for visually appealing packaging. With the rise of the “no-label” look and multi-coloured prints on consumer products, in-mold labels provide an attractive and effective branding tool for businesses. This trend has led to an increased adoption of in-mold labels in product packaging, as manufacturers recognize the benefits of this approach.
In-mold labels offer the opportunity to display more information about the product, which can enhance the brand image of a business. Overall, the increasing focus on visually appealing packaging is fuelling the growth of the in-mold labels market.
The market is further being driven by the strong demand for high-quality and cost-effective labels from industries such as chemicals, pharmaceuticals, and food & beverages. Furthermore, the rise of digitalization in the label printing process has allowed for faster product turnaround rates, shorter print runs, and better flexibility in label design. This trend is contributing to the growth of the market, as businesses seek to optimize their label printing processes and improve efficiency.
Which are Some Prominent Drivers Spearheading the In-mould Labels Market?
The in-mould labels market is being propelled by increasing demand from various end-user industries, including food & beverage, cosmetics, and pharmaceuticals. These industries seek cost-effective labelling solutions that deliver high-quality results. In today’s market, decorative packaging and labelling are crucial to creating a strong brand impression. As a result, in-mould labels have become the preferred choice for many manufacturers and are experiencing a rapid increase in demand.
The desirable characteristics of In-mould labels, such as 360-degree printing, enhanced colour and texture, and exceptional durability, are fuelling its demand among various industries. These labels are moisture-resistant, abrasion-resistant, and better able to withstand temperature changes, making them an ideal choice for many different applications. As a result, In-mold labels have become increasingly popular among businesses seeking high-quality, long-lasting labelling solutions that can help enhance product appeal and build brand recognition.
In-mold labelling is not only a highly effective labelling technique, but it is also eco-friendly, as it enables the recycling of entire plastic containers. Moreover, the growing adoption of automation and digitalization in the label printing process and technology is driving the expansion of the market. This trend is expected to continue as more companies seek sustainable, cost-effective labelling solutions that align with their environmental and business goals.
What is the Growth Outlook in North America?
The North America in-mold labels market accounted for a revenue share of 26.1% in 2022. The United States alone accounted for a revenue share of 22.8% in the same year. The market in this region is anticipated to grow with a CAGR of 3.3% over the forecast period.
Some of the largest food and beverage industry players are based in North America, particularly in countries like the United States and Canada. This region is a hub of high consumer demand for appealing and transparent packaging labels that provide clear information about food ingredients. The in-mold labeling industry has strongly established itself in North America, which is helping the market to grow.
The United States market is projected to grow due to increasing government efforts to foster a sustainable economy. The United States Plastics Pact, a partnership between The Recycling Partnership, World Wildlife Fund, and a member of the Ellen MacArthur Foundation’s global Plastics Pact Network, has initiated a national plan to ensure that all plastic packaging will be recyclable, reusable, or compostable by 2025. The “Roadmap to 2025” strategy, supported by more than 100 businesses, research organizations, startups, non-profit organizations, universities, and state and local governments, includes obligatory reporting and deadlines to achieve significant results toward a circular economy for plastics.
What is the Growth Outlook in China?
The in-mold labels market in China is projected to grow with a CAGR of 5.4% during the forecast period. As the standard of living and disposable income of Chinese consumers continue to rise, the demand for packaged food and beverages is also expected to increase. In-mold labels provide an efficient and cost-effective way of labelling these products, which is driving the growth of the In-mold labels market in China.
The increasing sophistication of consumers has led to a huge demand for premium packaging, and in-mold labels are proving to be an excellent solution for creating high-quality, visually appealing packaging that grabs attention on the shelves. This trend is expected to drive the growth of the in-mold labels market in China.
Market Competition
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., 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.
Some recent developments in the market are:
Key industry players leverage organic growth strategies like acquisition, mergers, partnerships, and collaboration to enhance their product portfolio. This is expected to fuel the global In-mold labels market.
· 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.
