The global in-mold label market is poised for steady growth, with revenue expected to climb from USD 1,097.1 million in 2023 to an estimated USD 1,133.9 million in 2024, reflecting a year-on-year growth rate of 3.2%. Over the next decade, the market is anticipated to expand at a compound annual growth rate (CAGR) of 2.8%, reaching a valuation of USD 1,501.8 million by 2034.
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Market Dynamics and Key Trends
The in-mold label (IML) industry is significantly driven by the injection molding segment, which currently holds a dominant 70% market share and is projected to grow at a CAGR of 3.0% throughout the forecast period. Polypropylene remains the preferred material for manufacturing in-mold labels, with expected revenue generation reaching USD 1,185.9 million by 2034.
Offset printing continues to lead the market, projected to create an incremental opportunity of USD 190.7 million during the assessment period. Digital printing, however, is gaining traction, especially for small-volume label printers due to its cost efficiency for low-volume runs and capability for variable data printing.
Sector-Specific Insights
The food industry emerges as a major consumer of in-mold labels, capturing half of the market value. This sector is set to expand by 1.3 times its current market value by 2034, creating an incremental opportunity of USD 404.7 million. The rising demand for visually appealing packaging in the food industry is a significant growth driver for the in-mold label market.
Innovations and Advancements
The growing trend towards visually appealing and informative packaging is fueling the adoption of in-mold labels. The “no-label” look and multi-colored prints offer an attractive and effective branding tool for businesses. Additionally, the digitalization of the label printing process has enabled faster turnaround rates, shorter print runs, and greater flexibility in label design, thus optimizing efficiency for businesses.
In-mold labels provide 360-degree print coverage, offering effective branding and enhanced consumer appeal. The market is witnessing increased demand from various end-user industries, including food & beverage, cosmetics, and pharmaceuticals, all of which seek cost-effective labeling solutions that deliver high-quality results.
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Challenges and Considerations
Despite the positive growth outlook, the in-mold label market faces challenges related to compatibility issues between certain IML label components and container materials. Incompatibilities can lead to premature degradation, impacting the label’s lifespan and overall quality. Alternatives such as hot stamp foils, heat transfer labels, screen-printed labels, and shrink labels, which offer full material compatibility and tamper-evident decoration, present competitive options in the market.
Key Takeaways:
- Europe is expected to dominate the market while growing with a CAGR of 3.4% during the forecast period.
- The market in India is projected to witness a promising CAGR of 6.1% during the forecast period.
- China is expected to grow at a 5.4% CAGR during the forecast period.
- By material, polypropylene is projected to lead the segment and is estimated to grow with a CAGR of 6.8% during the forecast period.
- By end-use, the food segment is expected to lead the market. It is expected to grow with a CAGR of 6.4% throughout the forecast period.
“Surging demand for product identification labels and attractive packaging is estimated to drive the demand for in-mold labels over the forecast period,” says an analyst at FMI.
Competitive Landscape:
The in-mold labels market is extremely competitive and consists of various key industry players. These players are heavily investing in manufacturing in-mold labels.
The key industry players are CCL Industries Inc., Constantia Flexibles Group GmbH, Coveris Holding S.A, Avery Dennison Corp., Multicolor Corporation, Fuji Seal International Inc., Tasus Corporation, Canyon Graphics Inc., Huhtamaki Oyj, Korsini Ambalaj San. Tic. A.S., Walle Corporation, Duratech Industries Inc., Admark Visual Imaging Limited, Aspasie Inc., General Press Corporation.
In-mold Labels Market Landscape
- CCL Industries Inc.,
- Constantia Flexibles Group GmbH,
- Coveris Holdings S.A.,
- Avery Dennison Corp.,
- Multicolor Corporation,
- Fuji Seal International Inc.,
- Huhtamaki Oyj,
- Korsini Ambalaj San Tic. A.S.,
- Walle Corporation,
- Duratech Industries Inc.,
- Tasus Corporation, Canyon Graphics Inc.,
- Admark Visual Imaging Limited,
- Aspasie Inc.,
- General Press Corporation,
- John Herrod & Associates Pty Ltd.,
- Serigraph Inc.,
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In-mold Labels Market by Category
By Process:
- Blow Molding
- Injection Molding
- Thermoforming
By Material:
- Polypropylene (PP)
- Polyethylene terephthalate (PET)
- Polystyrene (PS)
- Polyethylene (PE)
- Barrier
- Paper & Others
By Printing Method:
- Gravure
- Flexo
- Offset
- Screen
- Digital
- Others
By End-use:
- Food
- Beverage
- Pharmaceuticals
- Domestic Care
- Personal Care & Cosmetics
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- Middle East and Africa (MEA)
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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