Consumer Electronics Packaging Market to Reach $49.1 Billion, Globally, by 2032 at 8.4% CAGR: Allied Market Research

The global consumer electronics packaging market is driven by factors such as rise in use of cutting-edge electronics in smart houses and the increase in funding for the creation of recyclable packaging materials and advanced packaging technologies.

PORTLAND, Ore., May 9, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Consumer Electronics Packaging Market by Type (Corrugated Boxes, Paperboard Boxes, Thermoformed Trays, Blister Packs and Clampshells, Others), by Material Type (Plastic, Paper and Paperboard, Others), by Application (Mobile Phones, Computers, TVs, DTH and Set-Top Boxes, Music Systems, Printers, Scanners and Photocopy Machines, Camcorders and Cameras, Game Consoles and toys, Electronic Wearables, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global consumer electronics packaging industry generated $22.1 billion in 2022, and is anticipated to generate $49.1 billion by 2032, witnessing a CAGR of 8.4% from 2023 to 2032.

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Prime determinants of growth

The global consumer electronics packaging market is driven by factors such as rise in use of cutting-edge electronics in smart houses and the increase in funding for the creation of recyclable packaging materials and advanced packaging technologies. However, strict guidelines for recycling and packaging garbage restricts the market growth. Moreover, increase in demand for retail-ready and rigid packaging presents new opportunities in the coming years.

Report coverage & details:

Covid-19 Scenario

• The COVID-19 epidemic significantly changed the dynamics of the supply chain, raised demand for e-commerce packaging, and brought attention to health and safety precautions, all of which influence the consumer electronics packaging market.
• Many businesses had to swiftly adjust to the growth in e-commerce by developing packaging that can endure the rigours of shipping and handling.
• The pandemic had intensified the attention on sustainable packaging solutions as people looked for eco-friendly choices.

The paperboard boxes segment to maintain its leadership status throughout the forecast period

Based on type, the paperboard boxes segment held the highest market share in 2022, accounting for nearly two-fifths of the global consumer electronics packaging market revenue, and is estimated to maintain its leadership status throughout the forecast period, as paperboard boxes can be planned with elements, for example, detach segments that can be utilized as marks or guidelines or can be reused for different purposes after the item has been eliminated. The thermoformed trays segment is projected to manifest the highest CAGR of 10.9% from 2023 to 2032, as thermoformed trays being exclusively formed to fit the elements of the item, giving an elevated degree of security during postage.

The paper and paperboard frequency segment to maintain its leadership status throughout the forecast period

Based on material type, the paper and paperboard segment held the highest market share in 2022, accounting for around two-fifths of the global consumer electronics packaging market and is estimated to maintain its leadership status throughout the forecast period. To give the product even more protection during shipping, the paper or paperboard packaging may be combined with other materials such as foam inserts or corrugated cardboard. However, the plastic segment is projected to manifest the highest CAGR of 11.2% from 2023 to 2032, as plastic has been a common material used in consumer electronics packaging due to its durability, versatility, and low cost. 

The mobile phones segment to maintain its lead position during the forecast period

Based on application, the mobile phones segment holds the largest share in 2022, contributing to more than one-fourth of the global consumer electronics packaging market revenue, and is projected to maintain its lead position during the forecast period. Consumers use mobile phones for everything from communication to entertainment and productivity to productivity. As a result, mobile phones have become an essential part of modern life which eventually boost the mobile phones segment globally. However, the electronic wearables segment is expected to portray the largest CAGR of 12.4% from 2023 to 2032. Consumers are looking for devices that can monitor their health and fitness, track their activity, and provide convenient access to information and communication. As a result, wearable technology like fitness trackers and smartwatches have become increasingly popular in recent years which eventually boost the market growth.

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North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global consumer electronics packaging market revenue and is likely to dominate the market during the forecast period. In North America, the packaging industry is very important for keeping electronic goods safe during transportation and storage which have significantly promoted the growth of the consumer electronics packaging market in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 10.6% from 2023 to 2032. Electronic devices like smartphones, laptops, and gaming consoles are in high demand as more people in these nations enter the middle class and can afford them. The rapid expansion of e-commerce in the region is also expected to drive the growth of the Consumer Electronics Packaging market.

Leading Market Players: -

• DS Smith Plc
• Mondi Group
• International Paper Company
• Sonoco Products Company
• Sealed Air Corporation
• Huhtamaki Oyj
• Smurfit Kappa Group PLC
• WestRock Company
• UFP Technologies, Inc.
• Stora Enso Oyj

The report provides a detailed analysis of these key players in the global consumer electronics packaging market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the consumer electronics packaging market analysis from 2022 to 2032 to identify the prevailing consumer electronics packaging market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the consumer electronics packaging market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The consumer electronics packaging market forecast report includes the analysis of the regional as well as global consumer electronics packaging market trends, key players, market segments, application areas, and consumer electronics packaging market growth strategies.

Consumer Electronics Packaging Market Key Segments:

Type

• Corrugated Boxes
• Paperboard Boxes
• Thermoformed Trays
• Blister Packs and Clamshells
• Others

Material Type

• Plastic
• Paper and Paperboard
• Others

Application

• Mobile Phones
• Computers
• TVs, DTH and Set-Top Boxes
• Music Systems
• Printers, Scanners and Photocopy Machines
• Camcorders and Cameras
• Game Consoles and toys
• Electronic Wearables
• Others

By Region

• North America  (U.S., Canada, Mexico)
• Europe  (UK, Germany, France, Rest of Europe)
• Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle East, Africa)

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