Global In-mold label market was valued at US$ 2.70 Bn in 2016, according to Global In-mold Label Market Report by Process (Injection Molding, Extrusion Blow Molding and Thermoforming), by Material (Polypropylene, Polyethylene, ABS Resins Polyvinyl Chloride and Others), by Ink Type (UV Curable Inks, Water Soluble Inks, Thermal-cure Inks, and Others) by End-use Industry (Personal Care, Automotive, Food and Beverages, Healthcare, Chemicals, and Others) published by Coherent Market Insights. The in-mold market is expected to register a CAGR of 5.05% over the forecast period (2018-2025) to reach US$ 4.06 Bn by 2025.
Increasing customer preference for comparatively lighter and aesthetically appealing packaging solutions is expected to drive in-mold manufacturers to invest in innovative technologies. Rising environmental concerns and the need for reducing pollution has resulted in adoption of sustainable materials and resins that have been derived from renewable sources as packaging options. Manufacturers are increasingly investing in developing eco-friendly labels, while promoting environmental sustainability. Low in-mold labeling costs, sustainable nature of in-mold labels, and increased demand for packaging from various end-use industries such as the food and beverages industry are key driving factors for growth of the market. Other factors positively affecting growth of the market are increasing demand for packaging from emerging economies such as India and China due to growth of end-use industries including food and beverages, medical and pharmaceuticals amongst others increasing demand for sustainable labels.
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Browse 150 market data tables* and 60 figures* on ""In-Mold Label Market"- Global forecast to 2025.
Key Trends and Analysis of In-mold Label Market:
Among end-use industries, the food and beverages segment held the dominant position in 2017 and is expected to retain its dominance during the forecast period. Growing food & beverage industry also provides an opportunity to market players for growth, especially in the emerging economies in Asia Pacific and Latin American regions. For instance According to the Chinese Ministry of Commerce, food and beverages retail sales increased by 15% in 2015 from the previous year which in turn is expected to drive the in-mold label market as packaging plays an important role in the food and beverages industry as it protects food products from external factors such as heat, sunlight, and dust. Apart from this, the quality of packaging also plays a fundamental role in preservation of the products. IML offers better durability and reduces costs, and it is recyclable, which is a major factor for its high demand for this industry.
Key Takeaways of the Market:
Europe held the dominant position in the global in-mold label market and it was valued at US$ 1.51 Bn in 2017 the market is projected to register a CAGR of 4.57%, in terms of revenue over the forecast period. According to the European Union, the economically active population considered to be the primary consumers of packaged food products in EU-28 was pegged at 245 million individual in 2016. This in turn is expected to drive the demand for in-mold labelling options in the packaging of packaged foods
Asia Pacific is expected to be the fastest growing region in the global in-mold market. The market in Asia Pacific is projected to witness significant growth over the forecast period, owing to high demand from the food and beverages industry in China and India. According to the IBEF— Department of Commerce, Ministry of Commerce and Industry—in 2016, India exported processed food and related products (inclusive of animal products) valued at US$ 16.2 billion. Factors such as these are expected to propel demand for packaging in the food and beverages industry, which in turn is expected to propel the demand for IML.
Companies are engaging in product innovation, in order to increase their share in the market. For instance, Innovia Films Ltd. launched a new crystal clear in-mold label (IML) film that is produced using the company's unique bubble process, in 2017, in order to increase its market share in the global in-mold label market
Some of the major players operating in the global in-mold market include Avery Dennison, CCL Industries, Constantia Flexibles, Jindal Films Americas LLC, Coveris, EVCO Plastics, and Inland labels.
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