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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
In-mold labels (IMLs) are directly molded into plastic parts or packages during the injection molding or blow molding process. IMLs offer product protection, branding, and easy identification of packages. IMLs provide scratch and corrosion resistance which increase the shelf life of products. The increasing demand for cost-effective and durable labeling solution from end-use industries such as food & beverage, automotive, healthcare, personal care drives the growth of the in-mold label market.
Market key trends:
The rising focus towards sustainability among brand owners and manufacturers is driving the demand for in-mold label in the packaging industry. IMLs help in reducing wastage and are more environment-friendly as compared to pressure-sensitive labels. IMLs provide complete product coverage and directly bond to plastic substrate which eliminates the use of adhesive. This results in less material usage and lower carbon footprint. Further, IMLs allow reuse of plastic containers through easy removal and reapplication of labels. The increasing consumer awareness regarding eco-friendly packaging is augmenting the adoption of in-mold labels across industries.
Porter’s Analysis
Threat of new entrants: The In-mold Label market has a moderate threat of new entrants as it requires significant capital investment to setup a manufacturing plant and branding plays an important role. Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players in the market generating competition and offering innovative products. Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials for In-mold Labels are commodity chemicals widely available with different producers globally. Threat of new substitutes: The threat of substitute products is low as In-mold Labels provide unique benefits like cost-effectiveness and broad design possibilities. Competitive rivalry: Competition is high among the established players to gain market share and differentiate their products.
SWOT Analysis
Strengths: IML offers product decoration and identification at a lower cost compared to other labeling solutions. It also allows designing intricate labels and logos on complex surface geometries.
Weaknesses: High setup costs for tooling and machinery. Dependency on molders for production.
Opportunities: Growth in end-use industries like beverages, personal care, electronics etc. Development of bio-based and recycled materials.
Threats: Stringent environment regulations around plastic waste disposal. Threat from digital identification technologies.
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 packaged food and beverage industry. North America will dominate the market, supported by favorable government regulations regarding food labeling and packaging in countries like the US. The market in Asia Pacific is forecasted to grow at fastest pace due to growing middle-class population, rapid urbanization, and increasing consumption of packaged goods.
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. Avery Dennison and CCL Industries dominate the global market, while local Asian players are growing fast by providing customized solutions to major brands in their home markets.
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Technological advancements make the manufacturing process cost less to increase its demand.
The other primary reason is that it is waterproof and resistant to wear and tear.
The rapid rise in the food packaging industry, in-mold label global market share, is to reach 8.78 billion USD from 5.56 in 2018 with CAGR at 5.9%.
The increasing awareness of the consumers about the need for attractive and informative labeling is also helping its use and growth worldwide.In-mold provides a no-label lookThe in-mold labels provide the no-label look on the products on any container shapes.
Since it removes many production bottlenecks, post model labeling, and even larger manufacturing space, it is now becoming the favorite of the flexible packaging sector.
PP or Polypropylene is the raw material that manufacturers use to make in-mold labels.
In-mold labels (IML) are used for labeling or ornament of an object, even as it's miles fashioned with inside the mold.
IML makes use of several colors, unique effects, and textures.
Due to the lightweight of movies and capacity to be stacked tightly, its consequences in reduced shipping discharges, much less wasted space, and a miles smaller transportation footprint.
In-mold labels lesson guide operations that encompass guide hand completing, polish, completed in line with the requirement, and extrude of the stack mold after finishing touch of each operation.
The market has the maximum complicated shape and fee chain configuration and includes uncooked cloth providers, printers/converters, mold-makers, molders, providers of robotics, in addition to informed stop users.
This has caused excessive boundaries to access in any respect levels.
