The Latin America in-mold labels industry is poised for significant growth, with a forecasted CAGR of 5.8% over the next decade. Starting at a valuation of US$ 295.8 million in 2022, the market is expected to exhibit a substantial year-on-year growth rate of 5.3% in 2023, reaching US$ 311.6 million. However, the most noteworthy aspect is the long-term potential, as the market is projected to expand to a robust US$ 547.9 million by 2033.
A crucial driver of this growth is the food segment, which accounted for approximately 42.0% of the Latin America in-mold labels market in 2022. This segment is expected to create an incremental opportunity worth US$ 252.0 million, expanding nearly 1.9 times its current value from 2023 to 2033.
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The Latin America in-mold labels market has demonstrated a consistent growth trajectory, with a Compound Annual Growth Rate (CAGR) of 2.6% over the historical period, resulting in a market value of US$ 295.8 million in 2022, a significant increase from the US$ 267.4 million recorded in 2018.
This growth has been further accentuated by strategic moves made by industry leaders. In April 2023, Multi-Color Corporation expanded its presence by incorporating Korsini, a Turkish-based company renowned for providing in-mold label solutions. In January 2022, CCL Industries strengthened its position through the acquisition of McGavigan Holdings Ltd., a well-regarded supplier of in-mold components for automotive interiors. Similarly, in September 2021, Berry Global announced its commitment to long-term strategic growth by outlining plans to expand its food packaging manufacturing facilities in North America. These activities and mergers by prominent players have played a pivotal role in shaping the evolving landscape of the Latin America in-mold labels industry.
The increasing importance of product presentation and branding, especially in industries like food & beverage, cosmetics, and automotive, is a prominent factor. In-mold labels offer visually appealing and high-quality labeling solutions, enhancing product aesthetics and attracting millennial consumers.
Moreover, the region’s growing emphasis on sustainability and environmentally friendly packaging aligns perfectly with in-mold labels. These labels can be produced using recyclable materials, contributing to waste reduction and supporting a circular economy, which resonates with Latin America’s increasing awareness and preference for sustainable practices. This convergence of factors positions the Latin America in-mold labels industry for a promising future in the packaging and branding landscape.
Advent of Sustainable and Intelligent Packaging Solution Skyrocketing the Demand for Latin America In-mold Labels
With rising environmental concerns and implementation of stringent regulations regarding the use of plastic across the U.S., China, India, the U.K., Germany, and others, a substantial rise in the adoption of sustainable packaging solutions is experienced across various end use industries.
In accordance to this, numerous packaging companies are shifting their focusing of manufacturing sustainable packaging using 100% recycled plastics, biodegradable plastics, and plastic alternatives such as paper. Hence, introduction of novel sustainable packaging solutions is expected to create lucrative demand opportunities in the market.
Also, emergence of intelligent packaging with the integration of artificial intelligence (AI), internet of things (IoT), and data science have improved the demand for Latin America In-mold Labels market. Hence, key players are incorporating novel technologies such as AI and IoT to increase their revenues, propelling the sales.
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Key Latin America In-mold Labels Market Takeaways and Projections
- The U.S. is expected to lead the North America Latin America In-mold Labels market, projecting the fastest growth in the region between 2021 and 2031
- Germany and the U.K. are expected to, collectively, hold the largest share in the Europe market over the assessment period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- India is expected to emerge as a highly remunerative market in South Asia, contributing the significant revenue share in the region through 2031.
Report Benefits & Key Questions Answered
- Latin America In-mold Labels Historical Market Analysis: The detailed survey by FMI, examines key factors in the Latin America In-mold Labels market that affected the growth in the market for the last assessment period 2016-2020 and also studies their consequent impact. It also provide refined the sales projection of the Latin America In-mold Labels market for the forecast period 2021-2031.
- Latin America In-mold Labels Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Latin America In-mold Labels for the assessment period. As per the study, the demand for Latin America In-mold Labels will grow at a robust CAGR between 2021 and 2031.
- Latin America In-mold Labels Market Trend Analysis: The latest study by FMI on the Latin America In-mold Labels market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Competitive Landscape Analysis
The market survey conducted by FMI offers key trends and challenges in the packaging industry and its consequent impact of Latin America In-mold Labels market. The survey provides a thorough market share analysis to offer an in-depth analysis of prevailing competition.
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Latin America In-mold Labels Market Outlook by Category
By Process:
- Blow Molding
- Injection Molding
- Thermoforming
By Material:
- PP
- PET
- PS
- PE
- Paper
By Printing Method:
- Gravure
- Flexo
- Offset
- Screen
- Digital
By End Use:
- Food
- Beverage
- Pharma
- Homecare
- Cosmetics & Personal Care
- Automotive
- Others (Electronics, Building & Construction, Others)
By Country:
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- Puerto Rico
- Ecuador
- Rest of Latin America
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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