Wilmington, Delaware, United States , Aug. 24, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. -The global white goods packaging market is projected to flourish at a CAGR of 4.7% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 20.4 billion is anticipated for the market in 2031. As of 2023, the market for white goods packaging is expected to close at US$ 15.4 billion.
The rapidly growing consumer electronics industry and increased investment in smart home products drive the growth of the white goods packaging market. The increasing penetration of e-commerce and increased digitalization in emerging economies boost the market demand during the forecast period.
With the increasing urbanization and changing consumer needs the demand for white goods continues to rise, and the need for reliable and effective packaging solutions also grows.
Increasing technological advances and increased innovations in packaging materials, cushioning technologies, and manufacturing processes contribute to the development of more efficient and protective packaging solutions, to provide opportunity for market growth during the forecast period.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 14.6 Mn | |
| Estimated Value | US$ 24.5 Bn | |
| Growth Rate - CAGR | 4.7% | |
| Forecast Period | 2023-2031 | |
| No. of Pages | 146 Pages | |
| Market Segmentation | By Material, By Packaging Format, By Application | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Smurfit Kappa Plc., Sealed Air Corporation, Orlando Products Inc., UFP Technologies, Inc., DuPont, AMETEK.Inc, DS Smith Plc, Desco Industries Inc., Summit Packaging Solutions, Delphon Industries, LLC, Protective Packaging Corporation, GWP Group Limited, FEURER Group GmbH, Empire Packages (P) Ltd | |
Key Takeaways from the Market Study
- As of 2022, the white goods packaging market was valued at US$ 14.6 billion
- By material, the paper & paperboard segment enjoys high demand, accumulating a high revenue share during the forecast period.
- Based on packaging format, the foam sheet segment accounts for the highest market share
- Based on application, the refrigerators segment is expected to generate significant revenue during the forecast period, due to the increased use in the residential & commercial sectors.
White Goods Packaging: Key Trends and Opportunistic Frontiers
- Growing environmental consciousness has led to an increased demand for sustainable packaging options that minimize waste, use eco-friendly materials, and are recyclable or reusable.
- Manufacturers are investing in sustainable packaging solutions and launching cost-efficient and secure film hood packaging for white goods to expand their product portfolio.
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White Goods Packaging Market – Regional Analysis
- North America accounted for a major market share of white goods packaging owing to a surge in demand for heating and cooling equipment in the commercial sector. The strong presence of e-commerce in North America drives the demand for robust packaging solutions that can protect white goods during shipping. Increasing environmental awareness drives demand for eco-friendly and recyclable packaging materials.
- Asia Pacific is projected to hold the largest share from 2023 to 2031. Growth in the adoption of home appliances in India and China is boosting the market dynamics of the region. Rapidly growing e-commerce markets drive the demand for packaging solutions that can accommodate large white goods.
Competitive Landscape
The global white goods packaging market is fragmented, with the presence of a small number of leading players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global white goods packaging market report:
- Smurfit Kappa Plc
- Sealed Air Corporation
- Orlando Products Inc.
- UFP Technologies, Inc.
- DowDuPont Inc.
- AMETEK.Inc.
- DS Smith Plc
- Desco Industries Inc.
- Summit Packaging Solutions
- Delphon Industries, LLC
- Protective Packaging Corporation
- GWP Group Limited
- FEURER Group GmbH
- Empire Packages (P) Ltd.
- Parksons Packaging Ltd.
Key Developments in the White Goods Packaging Market
- In April 2023 - Sealed Air and Koenig & Bauer AG announced they have signed a non-binding letter of intent to expand their strategic partnership for digital printing machines. The partnership aims to significantly improve packaging design capabilities by developing state-of-the art digital printing technology, equipment, and services. Solutions developed by SEE and Koenig & Bauer will scale and deliver digitally printed materials dramatically faster, enabling brand owners to promote products by connecting with consumers through a digitally enhanced package.
- DS Smith has been investing in research and development to create packaging solutions that are lightweight, efficient, and environmentally friendly with increased emphasis on circular economy principles by promoting recyclable and reusable packaging options.
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White Goods Packaging Market – Key Segments
By Material
- Plastic
- Polypropylene (PP)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polyethylene Terephthalate (PET)
- Other Plastics
- Paper & Paperboard
By Packaging Format
- Air Bags
- Foam Sheets
- Corrugated Boxes
- Rigid Plastic Containers
- Shrink Films
- Others (Bubble Wraps, etc.)
By Application
- Refrigerators
- Washing Machines
- Air Conditioners
- Microwave Ovens
- Dishwashers
- Vacuum Cleaners
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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