Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global in-mold labels market is expected to expand at a CAGR of 5% during the review period.
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The consumers today have become more careful and conscious of the appearance of labeling and packaging which is driving the in-mold labels market. The in-mold labels offer detailed information about the product in an innovative way which provides 360-degree graphics on the container. Moreover, the cheap cost in-mold labels are low-cost for a packaged container which is likely to propel the in-mold labels market 2020. In-mold labels allow the utilization of several color patterns, textures, 3D effects in a single operation. Since in-mold labeling and decorating is done by using a plastic injection molded process and no further procedure is required. So it reduces the equipment cost, decorating labor, and saves time.
The in-mold labels sector is estimated to have a huge amount of participation during the review period, due to the constant development in the packaging industry, along with increasing consumer preference for high-end characteristics. The market is also estimated to develop activities by well-established enterprises. Merging and acquisition are likely to be witnessed during the review period.
Market Segmentation
The global in-mold labels market is divided on the basis of material, technology, application, and region.
On the basis of material, the global in-mold labels market is divided into ABS resins, polypropylene, polyvinylchloride, and others. Polypropylene waste seized the market in 2016 and is estimated to be the fastest expanding vertically.
On the basis of technology, the global in-mold labels market is classified into the injection molding process, extrusion blow-molding process, thermoforming, and others. Among all, the injection molding is estimated to seize the in-mold labels market until 2023. The leading position of this vertical can be accredited to the 3-Dimensional effect on the labels coupled with economical operations as compared to other technologies.
On the basis of application, the global in-mold labels market is classified into chemicals, food and beverage, consumer goods, personal care, and others. The rising demand for branded and packaged products, and consumer awareness with respect to the authenticity of the product. Beverages manufacturers across the globe broadly utilize in-mold labels on bottles, due to technological developments such as extrusion, thermoforming, and injection molding which provides low-cost solutions.
Regional Segmentation
Based on geographical region, the global market of in-mold labels is segmented into Asia Pacific, North America, Europe, and the rest of the world. The European region occupies that largest share in the global in-mold labels market. The rise in the income and the consumption level of the customers, increase in demand for in-mold labels, and rise in the demand for efficient labeling solutions are some of the prominent reasons that accelerate the market growth in the region. The Asia Pacific region is considered to be the fastest-growing market for in-mold labels. The Asia Pacific region is expected to grow even more during the forecast period.
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The most important players in global in-mold labels are Constantia Flexibles Group GmbH (Austria), CCL Industries, Inc. (Canada), Huhtamaki Group (Finland), Cenveo Inc. (U.S.), Coveris Holdings S.A. (Luxembourg), Fuji Seal International, Inc. (Japan), EVCO Plastics (U.S.), Multicolor Corporation (U.S.), Innovia Films Ltd. (U.K), Mepco Label Systems (U.S.), Inland Label and Marketing Services, LLC (U.S.), Avery Dennison Corporation (U.S.), Allen Plastic (Taiwan), Century Label, Inc. (U.S.), and Ameri-Seal Inc. (U.S.).
The global market of in-mold labels has been significantly affected by the current pandemic situation. However, the key players in the industry are adopting smart strategies to expand the in-mold label market. The key players are taking part in the merger and acquisition activities to strengthen the market position and ensure more profitability.
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