Market Trends of In Mold Labels Industry
This section covers the major market trends shaping the In Mold Labels Market according to our research experts:
Food & Beverage Industry is Expected to Hold the largest Share.
- In-mold labeling is expected to exhibit maximum adoption in the food and beverage industry due to the importance of the aesthetic value of packaging in the food and beverage sector. Packaging helps increase the shelf-life of the products and helps attract potential customers.
- In-mold labels are made of a layer of high barrier materials between two layers of polypropylene. This superior barrier makes in-mold labels suitable for the food and beverage industry as it helps increase the shelf-life of the packaged food, thus reducing food wastage significantly.
- The IML and the containers manufactured through in-mold labeling can withstand ultra-low temperatures; thus, they are useful as Ice cream Containers, Yogurt Container, Butter Containers, a Cheese container, Jam container, and other frozen item Food Containers.
- Significant product developments and innovations made by the companies are expected to boost the market growth in the forecast period. For instance, in August 2019, Silafrica, a packaging supplier to the East Africa region, added a new Injection Compression Molding (ICM) manufacturing capabilities. It provides almost similar benefits of traditional injection molding while maintaining comparable strength and rigidity. Additionally, the packaging can be produced with in-mold labeling.
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Asia-Pacific is Expected to Register Fastest Growth Rate
- In-mold labels are highly customizable, this coupled with the rising disposable income in the hands of the people in the region is expected to boost the demand for innovative, customized and premium labels.
- The companies in the region are expecting a rise in the demand for in-mold labels that are propelling them to either enter the market orexpand their production capacities. In February 2018, according toManjushree Technopack, in-mold labels are expected to see a rise in demand and henceforth has been working with suppliersto customize label applicators for efficient application of in-mold labels.
- Also, In October 2019, according to LabelShimbun, theshrink sleeves and in-mold labels are expected to seegrowth in the label usage as compared topressure-sensitive labels. Such instances are indicative of the fact that the market is poised to grow.
- The players in the region in order to cater to the rising trend are increasingly adopting in-mold labeling systems that enable them to achieve such objectives. This is expected to boost market growth in the region over the forecast period.
- In September 2019,Hora Arts Centreinstalled a Xeikon 3500 digital label press to reach customers’ just-in-time production lines in the region.The press iscapable ofprinting heattransfer, water transfer, in-mold labels, and continuous length wallpaper materials.
- Also, the players in the market are undergoing an expansion that enables them to gain a stronger market footprint, in turn, fueling the market growth over the forecast period. For instance,In September 2019, Barcom Industries announced that it is aiming to increase its market share by diversifying to printing in-mold labels (IML) that would allow it to cater toseveral industries including FMCG, liquor, lubricant oil, and many more.
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