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Market Research Future (MRFR) reveals in a study of in-mold labels that a notable rise will be experienced by the market in the coming years. More specifically, the study predicts a CAGR of 10.35% to be attained by the global market over the forecast period between 2017 and 2023.
In-mold labels hold its application across various end-users, including cosmetic, petrochemical, pharmaceutical, household, cosmetic containers, and paint. Its wide applicability is driving immense demand towards the global market. Additionally, the automated nature of the process is a major driver of the global in-mold label market.
Market Segmentation
The global In Mold Label Printing Market is segmented in terms of material, technology, and application.
By technology, the market segments into injection molding process, extrusion blow-molding process, thermoforming, and others. Among these segments, the injection molding process holds the highest share in the market. The segment is further expected to continue dominating the global In Mold Label Printing Market in the coming years. The dominance of the market segment can be attributed to the economical operations compared to other technologies and provision of a 3D effect on the labels.
By material, the market includes ABS resins, polypropylene, polyvinylchloride, and others. The polypropylene segment held the dominant market positioning back in 2016. It is expected to be the fastest-growing segment over the forecast period. Polypropylene is highly versatile as a plastic material and can be used in various plastic containers and labels. The segment has, over the years, become an extremely important labelling material owing to its highly effective moisture-resistant property.
By application, the market comprises personal care, food & beverages, consumer goods, chemicals, and others. The food & beverages segment enjoys the maximum share in the market. This is due to the burgeoning demand for packaged and branded products and increasing awareness among the consumers regarding the genuineness of the product. Due to advancements in technologies like injection molding, thermoforming, and extrusion, beverage manufacturers across the globe are seen utilizing in-mold labels on bottles.
Regional Analysis
Geographically, the global In Mold Label Printing Market is divided primarily into four major regions: North America, Asia Pacific, Europe, and the Rest of the World (RoW).
The European region is projected to grow during the forecast period with the highest CAGR. The dominating positioning of the regional market is because of the increasing usage of in-mold labels in various end-user applications like fast-moving consumer goods and industrial packaging. The increasing financial stability herein is expected to have a positive impact over the development of the region. The growing demand for in-mold labels across developed nations like Germany and France is majorly contributing to the overall market share of Europe. The fast-paced development of the manufacturing industry as well as the rising level of disposable income are some of the other driving factors for the market.
Aside from Europe, both Asia Pacific and North America are two other significant regions globally that held major share of the market in 2016 and are expected to continue doing the same in the near future. Both the regions are experiencing considerable growth owing to the increasing demand for innovative, efficient, and premium labels. Moreover, increasing awareness among consumers about the key trends in food packaging and the increasing consumption of container and bottled packaging is aiding the growth of these regional markets.
Competitive Landscape
The global In Mold Label Printing Market includes the following key players: Coveris Holdings S.A. (Luxembourg), Constantia Flexibles Group GmbH (Austria), EVCO Plastics (U.S.), Avery Dennison Corporation (U.S.), CL Industries, Inc. (Canada), Huhtamaki Group (Finland), Mepco Label Systems (U.S.), Cenveo Inc. (U.S.), Allen Plastic (Taiwan), Inland Label and Marketing Services, LLC (U.S.), Fuji Seal International, Inc. (Japan), Century Label , Inc. (U.S.), Multicolor Corporation (U.S.), Innovia Films Ltd. (U.K), and Ameri-Seal Inc. (U.S.).
Feb 4th, 2019 saw Tech II Inc. announce that it’s pursuing R&D for the thermoforming of in-mold labels of PET as well as, separately, for thermoforming of expanded polypropylene.
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