Rise in demand for renewable and sustainable labeling materials
tend to surge the market growth.
WILMINGTON, Del. , July 11,
2024 /PRNewswire/ -- The global in-mold
labeling market stood at US$ 2.3
billion in 2023, and the global market is projected
to reach US$ 3.8
billion in 2034. The in-mold labeling market is
anticipated to expand at a CAGR of 4.6% between 2024 and
2034.
The in-mold labeling (IML) market has experienced substantial
growth in recent years, driven by increasing demand for
high-quality, durable, and visually appealing packaging solutions.
IML involves the integration of labels during the molding process
of plastic containers, resulting in a seamless and permanent bond
between the label and the container. This method offers several
advantages, including enhanced aesthetics, improved resistance to
wear and tear, and the elimination of additional labeling steps,
thereby reducing production costs and time.
A key factor propelling the IML market is the rising preference
for sustainable packaging. IML allows for the use of recyclable
materials, aligning with the growing consumer and regulatory push
towards eco-friendly packaging solutions. Additionally, the ability
to produce intricate and vibrant designs directly on the product
enhances brand visibility and appeal, making IML a favored choice
among manufacturers in the food and beverage, personal care, and
household product sectors.
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In-mold Labeling Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020–2022
|
Size in 2023
|
US$ 2.3 Bn
|
Forecast (Value) in
2034
|
US$ 3.8 Bn
|
Growth Rate
(CAGR)
|
4.6 %
|
No. of
Pages
|
290
Pages
|
Segments
covered
|
By Process, By
Material, By Printing Method, By End-use
|
Technological advancements have further fueled the IML
market's expansion. Innovations in automation and robotics have
streamlined the IML process, increasing efficiency and reducing
labor costs. The development of advanced materials and printing
techniques has also broadened the scope of IML applications,
allowing for greater versatility in design and functionality.
However, the market is not without challenges. High initial
setup costs and the need for specialized equipment can be barriers
for small and medium-sized enterprises. Additionally, the
complexity of the IML process requires skilled labor and precise
control over production parameters to ensure consistent
quality.
Despite these challenges, the future of the IML market looks
promising. The ongoing trend towards premium and sustainable
packaging solutions, coupled with continuous technological
advancements, is expected to drive further growth. As industries
increasingly recognize the value of high-quality, cost-effective,
and environmentally friendly packaging, the demand for in-mold
labeling is likely to surge, cementing its position as a key player
in the global packaging market.
Key Takeaways of Market Report
- Global in-mold labeling market to generate absolute dollar
opportunity worth US$ 3.8
billion until 2034.
- Global in-mold labeling market is valued at US$ 2.3 billion in 2023.
- Asia Pacific is
forecasted to hold the largest share in 2023.
In-mold Labeling Market: Growth Drivers
- In-mold labeling (IML) allows firms to achieve high-quality
designs, significantly enhancing the overall appeal and success of
their goods.
- A reputable brand's label can substantially increase a
product's value, making it more attractive to consumers. This
emphasis on premium packaging is driving growth in the IML market,
as companies strive to differentiate their products in a
competitive market.
- The willingness of consumers to pay more for high-quality
products is prompting companies to introduce premium offerings with
superior packaging and labeling.
- This trend is boosting the in-mold labeling market size, as
manufacturers recognize the importance of investing in
high-quality, durable, and visually appealing labels. The growth in
this sector reflects the increasing demand for products that stand
out on the shelves and resonate with discerning consumers.
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In-mold Labeling Market: Regional Landscape
- Asia Pacific held the
largest share of the in-mold labeling market, driven by growth in
the FMCG sector. According to IBEF, the FMCG sector in India saw a revenue increase of 7-9% in
2022-23, significantly boosting market statistics in the
region.
- In North America, the
rise in expenditure on personal care products is propelling the
in-mold labeling market share. The booming skincare and beauty
sector in the U.S. is a key driver, as companies seek high-quality,
durable, and visually appealing packaging to attract discerning
consumers and enhance product appeal.
In-mold Labeling Market: Key Players
- In 2023, Coveris launched a new line of sustainable
in-mold labels made from fully recyclable materials. This
development aligns with the growing demand for eco-friendly
packaging solutions, reinforcing Coveris' commitment to
sustainability and innovation in the in-mold labeling market.
- In 2023, AVERY DENNISON CORPORATION introduced a
cutting-edge smart in-mold labeling technology that integrates RFID
tags. This innovation enhances product traceability and inventory
management, providing additional value to manufacturers and
retailers by combining high-quality labeling with advanced digital
capabilities.
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In-mold Labeling Market: Segmentation
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
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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