by The global 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 are labels applied inside injection or blow molded plastic containers during the molding process. In-mold labeling eliminates post-mold label decoration and reduces production costs. These labels have ideal protection from abrasion, moisture, humidity, and chemicals. Also, they help manufacturers achieve multi-color and graphics designs on containers. Growing food and beverage industry worldwide has been a key driver of in-mold label market. In-mold labels offer aesthetic appeal and durable packaging solutions for various food products like bottles, containers, jars, etc. Their resistance to moisture, chemicals and tampering make them suitable for pharmaceuticals as well.
Market key trends:
Rising health-consciousness and changing consumer preferences have increased the demand for packaged and branded food and beverages globally. In-mold labels provide cost-effective and eye-catching decoration for these products. Growing middle-class population and urbanization in developing countries are fueling the sales of packaged consumer goods. This has propelled the use of in-mold labels in those regions. Environmental concerns regarding label waste are also prompting manufacturers to adopt in-mold labeling technology. In-mold labels are integrated into packaging during molding itself and do not peel off, thereby reducing non-recyclable label waste. The trend towards sustainable packaging solutions is thus boosting the in-mold label market.
Porter’s Analysis
Threat of new entrants: Low capital requirement and availability of raw materials makes it easy for new players to enter this market. However, presence of major players and need for branding and distribution network poses entry barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of product alternatives and price variations offered by existing key players. However, established buyer-seller relationships increase switching costs.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as they have control over raw material prices and supply. However, availability of raw material substitutes keeps their power in check.
Threat of new substitutes: Threat from substitutes is low as in-mold labels provide functional advantages over paper labels and glue-applied labels. However, digital printing offers a substitutable solution.
Competitive rivalry: Intense competition exists among existing key players to gain market share through product innovation, mergers and acquisitions.
Key Takeaways
The global In-mold Label Market Growth is expected to witness high growth, exhibiting a CAGR of 22% over the forecast period, due to increasing demand from food & beverages industry. The food & beverages segment accounts for over 35% of the global market.
Regionally, Asia Pacific dominates the market and is expected to maintain its lead position during the forecast period. Expanding FMCG and food & beverages industries in China, India, Japan, and South Korea are driving the regional market. North America is the second fastest growing market for in-mold labels.
Key players operating in the In-mold label market are Avery Dennison, CCL Industries, Constantia Flexibles, Jindal Films Americas LLC, Coveris, EVCO Plastics. These players are focusing on new product launches and mergers & acquisitions to strengthen their market presence. For instance, in 2022, CCL Industries acquired Hub Labels, a manufacturer of in-mold and pressure-sensitive labels.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
