The In-mold Labels (IML) market in Latin America has been witnessing significant growth, driven by various factors such as increasing demand for innovative packaging solutions, rising consumer preferences for visually appealing products, and the expanding end-use industries. In-mold labels, which are applied during the manufacturing of containers, provide a seamless and durable branding solution for various products.
The Latin America In-mold Labels Market is projected to reach a valuation of US$ 311.6 million in 2023. It is estimated to witness a CAGR of 5.8% from 2023 to 2033. It is predicted to exceed a valuation of around US$ 547.9 million by 2033.
In-mold labeling is expected to be widely adopted in the food & beverage sector in Latin America. In this sector, packing aesthetics are quite important. In addition to extending the shelf life of the product, packaging acts as a magnet to draw in potential customers.
Food waste is considerably decreased and packed food’s shelf life is extended. Additionally, containers created with in-mold labeling might resist extreme temperatures, which makes them suitable for a variety of frozen food products. Jam, ice-cream, cheese, butter, and yogurt are a few of the examples.
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Digital Printing Surge
High-quality labels with intricate images and designs can be produced using digital printing for in-mold labels. Digital printing is a technique that applies ink directly to a substrate such as paper or plastic, using computer-controlled inkjet printers. This enables the development of labels in a broad variety of hues, images, and patterns.
In-mold labels can be produced using digital printing and feature intricate graphics & designs. Additionally, this can be used to create labels with better aesthetics. These can also be utilized to set a company’s products apart from those of its competitors.
Labels with fine details, vibrant colors, and sharp graphics can also be made using digital printing. This can assist companies in producing a polished and appealing goods sign that could stand apart from the shelves and aid in increasing recognition of the brand.
Market Drivers:
- Sustainable Packaging: In-mold labels are considered more sustainable as they eliminate the need for additional labeling materials, reducing waste and promoting eco-friendly practices.
- Increasing Demand for Packaged Products: The growing demand for packaged products, including food, beverages, and consumer goods, is driving the need for in-mold labels as they provide a visually appealing and informative packaging solution.
- Brand Differentiation: In-mold labels allow for high-quality graphics and customization, enabling brand differentiation and enhancing product visibility on store shelves.
- Endorsement of Labeling Regulations: Compliance with labeling regulations and requirements is crucial, particularly in the food and pharmaceutical sectors, promoting the use of in-mold labels.
- Technological Advancements: Ongoing innovations in printing and labeling technologies are expanding the applications of in-mold labels, making them suitable for various product categories.
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Key Takeaways
By process, the injection molding segment is set to generate a Latin America in-mold labels industry share of more than 7% in 2023.
By printing method, the offset segment is expected to generate the dominant in-mold labels market share of around 2% in 2023.
Based on end use, the food segment is predicted to witness a CAGR of 3% in the evaluation period.
Chile in-mold labels market is projected to surpass US$ 62.2 million by the end of 2033.
Peru in-mold labels market is anticipated to cross a valuation of US$ 22.4 million by 2023.
Competitive Landscape
Leading players in Latin America In-mold Labels Market are focusing on continuous product innovation to offer a wide range of in-mold labels that cater to different sector requirements. They would also invest in research and development to create labels with advanced features. They are aiming to provide improved print quality, unique designs, enhanced durability, and environmental sustainability.
For instance
In April 2023, Multi-Color Corporation (MCC), a globally prominent label company, acquired Korsini, a prominent company specializing in in-mold label (IML) solutions. This collaboration with Korsini would ignite fresh innovations and enable MCC to enhance its service offerings & product portfolio for its clients.
Major Key Players
- CCL Industries Inc.
- Constantia Flexibles Group GmbH
- Coveris Holding S.A.
- Avery Dennison Corp.
- Multicolor Corporation
- Fuji Seal International Inc.
- Huhtamäki Oyj
- Sonoco Products Company
- Berry Global
- Duratech Industries Inc.
- Grupo Phoenix
- Winpak Ltd.
- Serigraph Inc.
- Gráfica Rami
- Xiang In Enterprise Co., Ltd.
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Key Segmentations
By Process:
- Blow Molding
- Injection Molding
- Thermoforming
By Material:
- PP
- PET
- PS
- PE
- Paper
By Printing Method:
- Gravure
- Flexo
- Offset
- Screen
- Digital
By End Use:
- Food
- Beverage
- Pharma
- Homecare
- Cosmetics & Personal Care
- Automotive
- Others (Electronics, Building & Construction, Others)
By Country:
- Brazil
- Mexico
- Argentina
- Chile
- Colombia
- Peru
- Puerto Rico
- Ecuador
- Rest of Latin America
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