According to the latest report by IMARC Group, titled “In-Mold Labels Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global in-mold labels market size reached US$ 2.9 Billion in 2018. In-mold labels (IMLs) are pre-printed stickers consisting of images and relevant product information. These labels are embedded into the wall of the mold through the techniques of blow molding, thermoforming and injecting molding, followed by the application of heat resistant ink and a coating of lacquer. These labels thus become an undetachable part of the container and provide a seamless finish to the product. These labels are waterproof, transparent, and permanently molded, and find wide applicability across a variety of industry verticals.
Global In-Mold Labels Market Trends:
Owing to the advantages associated with the usage of IMLs, including recyclability and cost-effectiveness, there has been an increase in their demand from various industries. For instance, in the food and beverage industry, these labels are extensively utilized owing to their resistance to humidity and temperature changes. In the pharmaceutical industry, they are widely preferred for packaging as they offer protection against contaminations. Furthermore, with increasing disposable income, there is a rise in the demand for aesthetically appealing and attractive packaging solutions. No-label look and multi-color prints act as an effective marketing tool for brands, thus boosting the sales of the products. Other factors driving the market include the emerging trend of digitization in the label printing process, which enables faster product turnaround rates and greater flexibility in label designs. On account of the aforementioned factors, the market is expected to reach a value of US$ 3.7 Billion by 2024, growing at a CAGR of around 4% during 2019-2024.
Global In-mold Labels Market Segments:
- Based on the material, the market has been divided into polypropylene, polyethylene, polyvinyl chloride, ABS resins and others. Amongst these, polypropylene represents the largest market segment.
- On the basis of the technology, the market has been categorized into extrusion blow-molding process, injection molding process and thermoforming, wherein the injection molding process exhibits a clear dominance in the market.
- Based on the printing technology, the market has been segregated into flexographic, offset, gravure, digital and others.
- On the basis of the printing inks, the market has been classified as UV curable, thermal cured, water-soluble and other inks.
- Based on the end use, food and beverage accounts for a majority of the total market share. Other major segments include personal care, consumer durables, automotive and others.
- On the geographical front, Europe holds the leading position in the market. Other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players. Some of the in-mold label market competitors include CCL Industries, Inc., Constantia Flexibles Group GmbH, Huhtamaki Group, Coveris Holdings S.A., Cenveo Inc., Fuji Seal International, Inc., Multicolor Corporation, EVCO Plastics, Innovia Films Ltd., and Inland Label and Marketing Services, LLC.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal