The growth of the in-mold labels market is driven by the expanding personal care industry, growing demand for food & beverage products in emerging nations, and surging need for sustainable labeling solutions, says this report.
Selbyville, Delaware, Dec. 06, 2021 (GLOBE NEWSWIRE) -- According to the report by Global Market Insights Inc., the global In-Mold Labels Market was estimated at USD 1.8 billion in 2020 and is expected to be valued at more than USD 2.9 billion by 2027, registering with a CAGR of 6.9% from 2021 to 2027. The report offers an in-depth analysis of market size & estimations, wavering market trends, drivers & opportunities, competitive scenario, top winning strategies, and major investment pockets.
In-mold labeling uses paper or plastic labels to make containers through by injection molding, blow molding, or thermoforming processes. Surging application of in-mold labels in various end-user industries is projected to boost market growth in the coming years. Industry players in the food & beverage sector are focusing on a better highlight the nutritional facts of their food products. Thus, in-mold labels have gained popularity as they make it easy to indicate the nutritional content, coupled with other facts about the product, which is also slated to impel industry expansion over the forecast period.
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Acrylonitrile butadiene styrene (ABS)-based films possess high tensile strength and are resistant to physical impacts and chemicals corrosion. The emerging trend of using in-mold labels in multiple end-user industries owing to their superior properties is foreseen to stimulate the growth of the segment. Driven by growing adoption of these in-mold labels, the acrylonitrile butadiene styrene material segment is anticipated to register a CAGR of around 6.6% through the review timeline.
In terms of printing technology, the in-mold labels market from the digital segment is speculated to expand at over 6.7% CAGR over the analysis period. Digital printing provides numerous benefits, such as the integration of various designs and color combinations with sharp and clear images. Costs associated with digital printing are low and the process also adds high value to the final label, which is expected to bolster segmental development through 2027.
Key reasons for in-mold labels market growth:
Rising adoption in personal care products.
Mounting usage in food & beverage industry.
Soaring prominence in packaging during COVID-19.
2027 forecasts show ‘injection molding’ segment retaining its dominance:
Based on technology, the injection molding segment held more than 61% of the in-molds market in terms of revenue and is estimated to grow at a robust pace over the study timeframe. The injection molding process is mainly employed in the manufacturing of products that are usually required in massive quantities. Furthermore, the technology offers design flexibility and aids in increasing productivity with additional aesthetic properties like textures, colors, and designs, which is likely to fuel segmental growth through 2027.
Asia Pacific to maintain top status in terms of revenue:
The Asia Pacific in-mold labels market is estimated to exceed a valuation of USD 400 million by 2027. Increased presence of small- and medium-scale manufacturers in the region has improved the prominence of in-mold labels as a viable option for labeling various products. Additionally, growing economies of India, Vietnam, China, and others, would support the demand for several end-user products, which is set to facilitate the adoption of in-mold labels over the forecast period.
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Impact of COVID-19 pandemic on in-mold labels market:
Following the COVID-19 outbreak, there was an unprecedented demand for labels in food & beverage and home & personal care products as consumers sought packaging with specific product details. This demand was propelled further by increasing health and climate consciousness consumers, prompting them to purchase products with detailed nutritional ingredient list and sustainable properties. Moreover, high prevalence of e-commerce also enhanced consumer interest in descriptive labels to determine the ingredients and other information about the product. As a result, booming prevalence of labels in the packaging of food & beverage and home & personal care products has positively impacted market growth during the pandemic.
Leading market players:
Some major companies in the global in-mold labels industry are Huhtamaki, Constantia Flexibles, Heidelberg, Mold Tek Group, Smyth Company, ACTEGA, Monroe Mold, Multicolor Corporation, Vintech Polymers, CCL Industries, Papro, Cosmofilms, S.A Packaging, Weishida Printing Co., Ltd., and Xiang-In, among others.
About Global Market Insights Inc.
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