According to a new research report by Global Market Insights Inc., the In-mold Labels Market size is anticipated to cross USD 2.9 billion by 2027 due to high-quality graphics for food containers and bottles at an affordable cost.
The in-mold label is a technique for labeling consumer and industrial products by inserting pre-printed labels during molding. The rising food & beverage packaging industry coupled with rapidly growing concerns about safety standards across the globe will propel product demand in the coming years. Moreover, the growing need for ecological in-mold labels will influence the overall market share by 2027.
The rising per capita income along with steadily changing lifestyles is likely to boost the demand for packaged foods and materials, gradually boosting the in-mold labels market share over the forecast period. Shifting consumer preferences toward in-mold packaging and labeling have significantly influenced their purchasing behavior owing to the aesthetic appearance of the labeled products. Moreover, consumers are also focusing on their health issues. Growing awareness of sustainable and non-toxic labels will account for a significant share in the in-mold labels market by the end of 2027.
Due to the COVID-19 pandemic, the market has witnessed headwinds as demand for various end-user products has decreased. This was further aggravated by strict lockdowns imposed by various governments to minimize the COVID-19 impact on society. This resulted in enforcing social distancing measures and cutting down on workforces in the industry premises, which resulted in production slowdown. The reopening of economies and gradual lifting of bans are expected to increase the demand for various end-user products.
Browse key industry insights spread across 230 pages with 255 market data tables & 21 figures & charts from the report, “In-Mold Labels Market by Material (Polypropylene, Polyethylene, Acrylonitrile Butadiene Styrene, Polyvinyl Chloride), Printing Technology (Flexographic, Offset, Gravure, Digital), Technology (Injection Molding, Blow Molding, Thermoforming) and End-user (Food & Beverage, Consumer Durable, Home & Personal Care, Automotive), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Landscape & Forecast, 2021 – 2027” in detail along with the table of contents:
Polyethylene material to gain attention among industry players
The polyethylene segment will witness a CAGR of 7.1% during the forecast period. Polyethylene material has excellent properties such as moisture resistance and high resistance to light along with temperature to ensure long-lasting shelf appeal. Polyethylene films are extremely lightweight and have superior flexibility. They can easily adapt to any shape and size of the container. Growing demand for consumer care products that require flexible labels and showcase moisture resistance will result in increased demand for polyethylene labels in the in-mold labels market.
Offset printing to drive the market during the forecast period
The offset segment will witness a CAGR of 7.2% during the projected time frame. Offset printing produces a high image quality that results in sharp and clean images, a general requirement of the labeling industry. The packaging industry requires sharp images, which show company logos and highlight the product by increasing its aesthetic value.
Blow molding to gain popularity by 2027
The blow molding segment held over 35% share in 2020 in the in-mold labels market. The blow molding technique produces hollow plastic components by blowing air into the plastic mold. The blow molding technique can produce products with different shapes and sizes. As the blow molding technique utilizes a lower level of pressure, the cost associated with blow molding is also low compared to other techniques.
Consumer durable to witness high growth over the projected period
The consumer durable segment will witness a CAGR of 7.1% during the forecast period. The increasing middle-class population in the emerging economies of China, India, Vietnam, Brazil has resulted in a growing demand for various consumer durable products. Moreover, industry players are working on improving their packaging quality and standards to remain competitive in the market. Increasing demand for consumer durable products will further drive the in-mold labels market.
North America will showcase sustainable growth
The North America in-mold labels market will be valued at over USD 800 million by 2027. The increasing adoption of in-mold labels in North America due to growing awareness of sustainable labels and their adopting will drive the in-mold labels market. In-mold labels provide flexibility, in terms of the printing process and color selection, and will witness an increasing adoption in the food & beverage industry.
The in-mold labels market is highly competitive as key market players are working on incorporating new marketing strategies to increase their geographical presence. Moreover, in-mold labels industry participants are together working with end-user industries to better understand their needs and develop products that can match their expectations.
Various in-mold industry players include Heidelberg, Huhtamaki, Constantia Flexibles, Mold Tek Group, ACTEGA, CCL Industries, Multicolor Corporation, Vintech Polymers, Papro, Cosmofilms, Smyth Company, Xiang-In, S.A Packaging, Monroe Mold, Weishida Printing Co., Ltd., etc.