The in-mold labels market is anticipated to record significant gains by 2027 on account of extensive product adoption in the home & personal care industry.
In-mold labeling (IML) is a procedure that combines the production of plastic packaging with the labeling of plastic packaging during the manufacturing process. It is frequently combined with blow molding to produce liquid containers. Soaring demand for in-mold labels in the food & beverage industry worldwide has augmented industry expansion in recent years.
Furthermore, to strengthen their footing in the evolving market, industry participants have been implementing lucrative strategies, which has positively impacted the overall business landscape. For instance, in April 2021, Constantia Flexibles, a leading pharmaceutical and consumer packaging enterprise, announced the acquisition of Propak, a major packaging producer. The deal enabled Constantia Flexibles to expand its business by leveraging Propak’s strong presence in the European packaging industry.
The in-mold labels market has been segmented on the basis of end-user, material, technology, printing technology, and region. In terms of material, the market has further been classified into PVC, PP, ABS, PE, and others.
The PVC sub-segment is expected to garner sizable revenue by 2027, registering approximately 7.1% CAGR through the assessment period. The others sub-segment is slated to expand at a CAGR of around 6.2% over the review period.
Based on printing technology, the in-mold labels market has been bifurcated into digital, flexographic, gravure, offset, and others. The gravure sub-segment is projected to showcase robust growth at a CAGR of about 7.0% over the forecast timeframe. Meanwhile, the others sub-segment is estimated to progress at more than 5.8% CAGR over the study timeline.
With respect to technology, the market has been divided into thermoforming, injection molding, and blow molding. The in-mold labels industry share from the thermoforming sub-segment is poised to witness steady expansion, delivering over 3.9% CAGR through the analysis period.
From the end-user perspective, the in-mold labels market has been categorized into automotive, food & beverage, home & personal care, consumer durable, and others. The automotive sub-segment held a notable valuation in 2020 and is set to expand at a CAGR of about 6.4% through the stipulated timeframe owing to surging product demand mainly in emerging economies. The others sub-segment is anticipated to grow at a CAGR of nearly 4.9% through the projected period.
From the regional spectrum, the Latin America in-mold labels market is speculated to gain substantial traction by 2027, growing at a CAGR of above 7.9% over the estimated timeframe. This growth is attributed to the proliferating consumer durable segment, along with mounting demand for personal care products in the LATAM region. The MEA in-mold labels industry is likely to expand at approximately 8.0% CAGR through the forecast period.