by In-mold label is a label inserted and bonded to the plastic part during the injection molding or blow molding process. These labels provide aesthetic and functional advantages for packaging applications compared to pressure sensitive labels. The labels become an integral part of the container and enable cost-effective customized packaging designs. They offer enhanced product protection and tamper resistance. In-mold labels find wide usage for bottled beverages, consumer durables, healthcare products, food containers, and other packaging applications. The ability to insert graphics, texts, designs, and logos directly on containers reduces additional printing and lamination steps. This helps lower production costs and shrinks the product development cycle compared to traditional labeling methods.
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 key trends
One of the major trends in the in-mold label market is the rising demand for shrink sleeve labels. Shrink sleeve labels are made from plastic films that are printed, laminated, and then shrunk tightly around containers using heat tunnel technology. These labels help promote products, guard contents, and provide packaging aesthetics and visual appeal. Shrink sleeve labels are increasingly replacing traditional pressure sensitive labels as they offer multiple advantages such as durability, moisture resistance, and ability to wrap around complex product shapes. They enable 360-degree graphics and eliminate additional over-labeling steps during production. The growing popularity of shrink sleeve in-mold labels is expected to drive the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirement and established distribution channels lower the threat of new entrants. However, presence of major players make market entry difficult.
Bargaining power of buyers: Large buyers can negotiate lower prices due to bulk purchase volumes. However, availability of substitutes maintain bargaining power of buyers.
Bargaining power of suppliers: Presence of many suppliers for raw materials limits their bargaining power. However, regulations on certain materials increase suppliers’ power.
Threat of new substitutes: Substitutes from other labeling technologies pose minimal threat due to technological advantages of in-mold labels.
Competitive rivalry: Major players compete on innovation, price and quality. Regional players intensify competition.
Key Takeaways
The global In-Mold Label Market Demand is expected to witness high growth. The North America region currently dominates the market and is expected to maintain its position over the forecast period. Factors such as strong presence of end-use industries along with key players boost the regional market.
The Asia Pacific region is anticipated to witness fastest growth during the forecast period. Countries such as China, India and Japan are emerging markets expected to drive high demand for in-mold labels. Rapidly growing end-use industries and increasing consumer spending power support market growth in the region.
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 major players compete on innovation, pricing and quality. Regional players intensify competition in the global market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
