Extrusion In-Mold Labels Market Size, Share,Industry, Forecast and outlook (2024-2031)

Brand owners know the significance of packaging design and labeling as integral components of their marketing and branding. Extrusion in-mold labels provide options for brand differentiation, product customization and innovative label designs that appeal to target audiences. Manufacturers use the visual impact and branding possibilities of extrusion in-mold labels to improve product visibility, communicate brand values and boost sales.Continuous improvements in labeling equipment, technology and printing technologies have increased the efficiency, speed and precision of extrusion in-mold labeling methods. Manufacturers can generate high-quality labels at cheaper costs and faster turnaround times because to innovations including high-speed printing, digital printing capabilities and automation features.

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Market Dynamics

A recent Capgemini survey on sustainability and transforming consumer behavior discovered that 79% of consumers are changing their shopping habits due to social responsibility and environmental effect. Furthermore, 53% of customers and 57% of those aged 18 to 24 have switched to lesser-known products that are more environmentally friendly. Over 52% of customers stated to have an emotional link with companies that they consider sustainable. Rising Demand for Packaged Food

The global extrusion in-mold labels market is being driven by rising demand for packaged goods across a wide range of industries. Changes in consumer behavior have resulted in a growth in the use of packaged products ranging from food & beverages to personal care & household goods. The rising demand requires efficient and innovative labeling solutions, such as extrusion in-mold labels, which provide better product presentation and brand identity.In accordance to a report released in March 2021 by the Foreign Agriculture Service of U.S. Department of Agriculture, frozen food consumption in Japan, particularly frozen snacks, has gradually increased over the last decade. In March 2021, the European Commission also passed new laws on the action plan for organic production, which will help to expand Europe's organic food and beverage sector. Thus, owing to this, the demand for extrusion in-mold labels is expected to increase during the forecast period.

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Segment Analysis

Flexographic printing is expected to be the dominant segment with over 25% of the market during the forecast period 2024-2031. Flexographic printing is an affordable method for producing huge quantities of labels. It provides more efficient ink consumption, faster printing rates and shorter setup times than other printing methods, resulting in lower manufacturing costs per label. Flexographic printing is a cost-effective choice for extrusion in-mold label producers, particularly for high-volume applications.The e-commerce industry is quickly expanding, which will drive market demand during the forecast period, as flexographic printing is essential in the production of labels that are widely used across the industry. For example, Invest India estimates that the Indian e-commerce business will be valued more than US$ 55 billion in gross merchandise value by 2021. It is projected to reach US$ 350 billion by 2031.

Competitive Landscape

The major global players in the market include CCL Industries, Inc., Namo Packaging Solutions Pvt. Ltd., Coveris Holdings S.A., Huhtamaki Group, COSMO FILMS, Hammer Packaging, Fuji Seal International Inc., Avery Dennison Corporation, Innovia Films Ltd. and Inland.

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