May 22, 2024

The In-Mold Label Market Is Expected To Be Flourished By Rising Demand From Food And Beverage Industry

In-mold labels are plastic labels applied inside containers, bottles, and packages during the molding or blow molding process. They offer advantages over pressure-sensitive labels such as durability through the product’s lifetime, resistance to moisture, grease, and abrasion. In-mold labels find widespread application in the food and beverage industry for packaging items such as condiment bottles, syrup bottles, detergent bottles, and dairy containers. They help build brand identity and allow for complex graphic designs and text on rigid and thermoformed plastic packaging.

The global In-Mold Label Market is estimated to be valued at Us$ 5.12 Mn in 2024 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:

The in-mold label market is expected to be flourished by the rising demand from the food and beverage industry. Food and beverage manufacturers are increasingly adopting in-mold labels for packaging as they offer durability and resistance to moisture, which helps retain the label and packaging design throughout the product life cycle. In-mold labels provide rigid containers with vibrant graphics, logos, and information about ingredients and nutritional facts. They enhance brand visibility and consumer appeal on retail shelves. Furthermore, the ability of in-mold labels to accommodate complex designs and withstand harsh packaging environments such as hot-fill conditions is another key driver boosting their use in the food and beverage industry.

Segment Analysis

The global In-mold label market is dominated by the rigid plastics sub-segment. Rigid plastics constitute around 60% of the overall IML market as majority of consumer goods and homecare products are made from rigid plastics such as PET, PP and HDPE. IML provides durable and cost-effective solutions for labeling products made of rigid plastics. The demand for IML for rigid plastics will continue to grow in the forecast period driven by high demand for plastic consumer products.

PEST Analysis

Political: There are no significant political risks impacting the IML market currently. Regulations regarding plastic recycling and reuse are expected to positively impact the IML industry.

Economic: The global economy recovering from COVID-19 pandemic will boost consumer spending on packaged goods, driving the IML market growth. Inflation could negatively impact costs.

Social: Preferences for lightweight and recyclable packaging among consumers are increasing demand for IML. Growing middle class in developing regions expands market opportunities.

Technological: Advances in IML machinery allow precise high-speed printing on complex shapes. Developments in material science improve printability and durability of IMLs.

Key Takeaways

The Global In-Mold Label Market Demand is expected to witness high growth in the forecast period due to increasing demand for plastic consumer goods. The global in-mold label market is estimated to be valued at US$ 5.12 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.

Regionally, Asia Pacific dominates the IML market currently accounting for over 40% revenue share driven by China, India and other developing Southeast Asian countries. These regions are expected to continue their dominance in the forecast period supported by rapid economic development and expansion of consumer markets.

Key players operating in the in-mold label market are Apollo Tyres, Bridgestone Corporation (Firestone), Alliance Tire Group, Continental AG, Pirelli & C SpA, Balakrishna Industries Limited, Nokian Tyres PLC, Titan International Inc. (Goodyear Tires), Michelin, and Trelleborg Wheel Systems (Mitas). The industry is reliant on major plastic converters as key customers and is consolidated with few global players dominating the market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it