by The in-mold label market involves the use of printing labels that are printed and applied during the blow molding or injection molding process. The labels provide durable and tamper-proof branding for packaging that remains intact throughout the life cycle of the container. The food and beverage industry widely uses in-mold labels for packaging various products including bottles for juice, dairy, sauces, dressings and others. The labels offer excellent adhesion to the surface and resistance to moisture, heat and abrasion. They also enable design customization and consistent branding appeal for packaged goods.
The Global In-Mold Label Market Is estimated to be valued at US$ 4.44 Bn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
The expected flourishment of the in-mold label market is majorly driven by the expanding food and beverage industry globally. In-mold labels are extensively used for branding and packaging a wide variety of food and beverage products including bottles for juices, sauces, dressings and dairy products. According to statistics, the global food and beverage market witnessed a value of US$ 12.5 trillion in 2020 and is estimated to reach US$ 16 trillion by 2030, growing at a CAGR of 3%. The surging demand for packaged and branded food and beverage products promotes the use of in-mold labels.
Enhanced Durability of In-mold Labels
In-mold labels provide excellent resistance to moisture, heat, abrasion and other environmental factors compared to pressure sensitive or glue-applied labels. The labels maintain their structural integrity and branding appeal throughout product use. Their durable nature enables withstanding harsh conditions involved during transportation and storage of packaged goods. This drives their preference over conventional labeling solutions extensively adopted across industries.
Segment Analysis
The In-mold Label market is segmented into Polyethylene terephthalate (PET), Polypropylene (PP), Polyvinyl Chloride (PVC), ABS Resins, and Polyethylene (PE). The Polyethylene Terephthalate (PET) sub-segment dominates the market and accounts for more than 35% of the overall market share. This is because PET is heat resistant, durable, and safe for high temperature molding processes.
PEST Analysis
Political: There are no significant political risks impacting the In-mold Label market currently. Most countries support healthcare and packaging industries.
Economic: The global economy recovered in 2022 which boosted consumer spending. This increased demand for packaged food & beverages and drove the In-mold Label market growth. Rising disposable incomes in developing nations also contributed.
Social: Growing health awareness increased consumption of packaged food and bottled beverages. This stimulated demand for effective product labeling solutions like In-mold labels.
Technological: In-mold digital printing technologies offer enhanced design capabilities. Some key players adopted these to provide customizable label designs as per brand needs.
Key Takeaways
The global In-Mold Label Market Demand is expected to witness high growth. The Asia Pacific region dominated with over 35% market share in 2023 led by China, India, and Southeast Asian countries. This was due to rising manufacturing activity, growing middle-class population and their purchasing power.
Key players operating in the In-mold Label market are Lake Region Manufacturing Inc., Boston Scientific Corporation, Volcano Corporation, Micro Therapeutics Inc., LuMend Corporation, Terumo Europe N.V., Covidien AG, ASAHI INTECC Company Limited, and Merit Medical Systems Inc. The key players focus on new product launches and expanding their geographical presence to strengthen market share. For example, in 2022 Boston Scientific acquired Preventice Solutions to enhance its cardiac monitoring portfolio.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
