What Has Been the Growth Trajectory for the Consumer Electronics Packaging Market in Recent Years?
The consumer electronics packaging market has seen considerable growth due to a variety of factors.
• The market size for consumer electronics packaging has experienced rapid expansion in the past few years. It is projected to increase from $25.89 billion in 2024 to $29.31 billion in 2025, experiencing a compound annual growth rate (CAGR) of 13.2%.
The historical growth in this sector can be linked to the progression of the consumer electronics market, the need for durability and protection, enhanced attention towards aesthetics and branding, greater regulatory conformity, a rise in e-commerce and online retail, and a broadened global supply chain.
How Does the Forecast Look for the Consumer Electronics Packaging Market?
The consumer electronics packaging market is expected to maintain its strong growth trajectory in upcoming years.
• Projected advancements in the consumer electronics packaging market is anticipated to demonstrate swift expansion over the forthcoming years. It's predicted to amplify to $48.56 billion by 2029, maintaining a Compound Annual Growth Rate (CAGR) of 13.5%.
This growth throughout the predicted period can be credited to various factors such as the surge in sustainable and eco-friendly packaging, compact, and space-saving designs, emergent technology packaging, increasing necessity for customizable and distinctive packaging, along with the growth in electronics recycling and the circular economy. Significant trends during the projected timeframe include innovations in e-commerce packaging, intelligent packaging incorporated with Internet of Things (IoT), advanced packaging for wearable electronics and AR/VR devices, new user-friendly packaging introductions, and technological breakthroughs.
What Main Forces Are Fueling Expansion In The Consumer Electronics Packaging Market?
Rising consumption of paper and paperboard for packaging purpose is propelling the upward trajectory of the consumer electronics packaging market. Paper and paperboard, due to their environmentally-friendly and biodegradable properties, are often chosen for packaging. This approach helps in reducing the shipping expenses for used electronics. For example, a study conducted by Two Sides North America in May 2023 provided updated information on consumer viewpoints about paper and paper-based packaging. An estimated 57% of the participants expressed their beliefs that paper-based packaging is more eco-friendly compared to other options, indicating a mounting inclination towards sustainability. Moreover, around 56% of consumers exhibited a preference for receiving their online purchases in paper-packaging, representing a notable surge in demand for green packaging solutions. Hence, the escalating demand for paper and paperboard packaging is stimulating the growth of the consumer electronics packaging market.
What Are The Primary Segments In The Global Consumer Electronics Packaging Market?
The consumer electronics packaging market covered in this report is segmented –
1) By Product Type: Corrugated Boxes, Paperboard Boxes, Thermoformed Trays, Bags and Pouches, Blister Packs and Clamshells, Protective Packaging, Other Product Types
2) By Technology: Active Packaging, Intelligent Packaging, Modified Atmospheric Packaging, Anti-Microbial Packaging, Aseptic Packaging, Other Technologies
3) By Material Type: Plastic, Paper and Paperboard, Other Material Types
4) By Application: Mobile Phones, Computers, TVs, DTH and Set-Top boxes, Music Systems, Printers, Scanners and Photocopy Machines, Game Consoles and Toys, Camcorders and Cameras, Other Applications
Subsegments:
1) By Corrugated Boxes: Regular Slotted Containers (RSC), Die-Cut Boxes, Multi-Depth Boxes
2) By Paperboard Boxes: Folding Cartons, Rigid Boxes, Paperboard Trays
3) By Thermoformed Trays: Clear Thermoformed Trays, Colored Thermoformed Trays, Custom-Shaped Thermoformed Trays
4) By Bags and Pouches: Stand-Up Pouches, Flat Bags, Gusseted Bags
5) By Blister Packs and Clamshells: Standard Blister Packs, Custom Blister Packs, Clamshell Packaging
6) By Protective Packaging: Foam Inserts, Air Cushioning, Bubble Wrap
7) By Other Product Types: Eco-Friendly Packaging Solutions, Custom Packaging Solutions, Specialty Packaging
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Which Key Trends Are Driving Changes In The Consumer Electronics Packaging Market?
A prevailing trend rapidly becoming prominent in the consumer electronics packaging market is product innovation. Numerous principal firms in the consumer electronics packaging industry are resorting to cutting-edge, innovative products to boost efficiency and productivity. For example, in September 2023, Sandvik Coromant, one of the major players, extended its smart packaging solutions by unveiling an improved AI-powered tool designed to maximize packaging efficiency. The newly introduced solution utilizes machine learning algorithms to evaluate product proportions and weights and ensure each product is packed in the most spatially efficient way. This strategy aims to lower transport expenses and carbon emissions markedly by decreasing the amount of required packaging materials.
Who Are the Key Players in the Consumer Electronics Packaging Market?
Major companies operating in the consumer electronics packaging market include:
• DS Smith plc
• Mondi plc
• International Paper Company
• Sonoco Products Company
• Shenzhen Hoichow Packing Manufacturing Ltd.
• Dordan Manufacturing Company
• Hangzhou Xunda Packaging Co. Ltd.
• Dunapack Packaging Group
• Universal Protective Packaging Inc.
• Parksons Packaging Ltd.
• Plastic Ingenuity
• JJX Packaging Group
• UFP Technologies Inc.
• JohnsByrne Company
• Smurfit Kappa Group plc
• Billerud AB
• Stora Enso Oyj
• WestRock Company
• Pregis Corporation LLC.
• Tekni-Plex Inc.
• Huhtamaki Oyj
• Graphic Packaging International LLC
• Guangzhou Huaisheng Packaging Co. Ltd.
• Amcor Limited
• Sealed Air Corporation
What Is The Most Dominant Region In The Consumer Electronics Packaging Market?
Asia-Pacific was the largest region in the consumer electronic packaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer electronics packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
