Market Overview
In-mold labeling refers to the process used for decorating or labeling the objects when it is formed into a mold. The introduction of the in-mold labels has lowered traditional processes such as changing stack mold, hand finishing, and polishing. The use of in-mold labeling technology offers different advantages like waterproof and transparency. The raw material that is widely used for manufacturing the in-mold labels is the highly versatile propylene. However, more advanced technologies are being used by the manufacturers for the making of in-mold labels.
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The in-mold labels are also made from plastic films that are printed using different printing techniques. The end-user applications that are benefited the most from in-mold labels include household, paint, petrochemical, pharmaceutical, and cosmetic containers. The in-mold labels help in providing information about the different products innovatively. The labels also aid the product brands in building a strong image before their prospective customers. The global market of in-mold labels is expected to increase shortly.
One of the major factors that drive the growth of the global in-mold labels market is the increasing demand for labels in food packaging. The rising demand for attractive packaging among the customers is another factor that accelerates the market growth. The transparent look and no glue requirement are other significant factors that support the expansion of the global market of in-mold labels. The global in-mold label market is anticipated to grow by a CAGR of 5% during the forecast period.
Market Segmentation
The global market of in-mold labels is segmented based on material, technology, application, and geographical region.
Based on technology, the global in-mold labels market is divided into polypropylene, ABS resins, polyvinylchloride, and others.
Based on technology, the global market of in-mold labels is bifurcated into the injection molding process, thermoforming, extrusion blow-molding process, and others.
Based on application, the global market of in-mold labels is segmented into chemicals, food & beverage, consumer goods, and personal care. The food & beverage segment occupies the largest share in the global in-mold labels market. The rise in the demand for branded products, packaged food items, and increasing consumer awareness accounts for the dominant position of the segment.
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Regional Segmentation
Based on geographical region, the global market of in-mold labels is segmented into Asia Pacific, North America, Europe, and the rest of the world. The European region occupies that largest share in the global in-mold labels market. The rise in the income and the consumption level of the customers, increase in demand for in-mold labels, and rise in the demand for efficient labeling solutions are some of the prominent reasons that accelerate the market growth in the region. The Asia Pacific region is considered to be the fastest-growing market for in-mold labels. The Asia Pacific region is expected to grow even more during the forecast period.
Industry News
The global market of in-mold labels has been significantly affected by the current pandemic situation. However, the key players in the industry are adopting smart strategies to expand the in-mold label market. The key players are taking part in the merger and acquisition activities to strengthen the market position and ensure more profitability.
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