NEWARK, Del, July 28, 2022 (GLOBE NEWSWIRE) -- The global consumer electronics packaging market is evaluated to reach US$ 22.2 Bn in 2022 and is projected to reach US$ 35.4 Bn by 2027, at a CAGR of 9.8% from 2022 to 2027. According to FMI analysis, the consumer electronics packaging market revenue totaled US$ 20.2 Bn for 2021. The overall consumer electronics packaging market is expected to expand 1.6x times the current market value by the end of 2027.
The consumer electronics packaging market witnessed lucrative growth in 2021 2021 with worldwide revenues up 9.9% year over year. According to the latest FMI forecast, it is estimated that the consumer electronics packaging market is anticipated to create an incredible opportunity of US$ 13.2 Bn during the forecasted period.
Future Market Insights predict a comparison and review analysis of the dynamics of the consumer electronics packaging market, which is principally subjected to an array of industry factors combined with a few definite influences concerning the use of PVC polymer material as it can deteriorate at high temperatures and damage the goods.
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Key Takeaways
- Technological advances in the packaging industry include innovative packaging solutions with a new, unique, vibrant and memorable design with minimal aesthetics that is driving the growth of the market.
- The market for consumer electronics packaging is estimated to increase by 40 basis share points (BPS) in H1-2022 (O) against comparison with H1-2021, according to an FMI analysis. However, when comparing the H1-2022 projected and H1-2022 outlook period, a rise in BPS change by 20 BPS has been noticed.
- The prospects of the consumer electronics packaging market to prosper over the forecast years are skyrocketing accounting for the adoption of electronic devices in smart homes boosting the demand for consumer electronics packaging.
- The expansion of consumer electronics packaging is projected throughout the forecast period because the advanced prevents the product from physical damage, electrostatic discharge, mechanical damage and others.
- The Asia Pacific region followed by the North American region is projected to hold approximately 57% of the global consumer electronics packaging market by the end of 2027.
More Insights into the Consumer Electronics Packaging Market
According to National Investment Promotion & Facilitation Agency (NIPFA), India has witnessed an opulent increase in demand for electronic products that has led to a significant rise in the consumer electronics packaging market with sales of around US$ 756 Mn in the year 2021 and is expected to reach around US$ 1515.0 Mn by the year 2027.
The Indian electronic manufacturing sector is anticipated to reach US$ 220 billion by 2025, due to strong policy support, massive investments by multiple stakeholders, and a surge in demand for electronic products.
Massive sales were witnessed for paper and paperboard boxes-based packaging solutions in China, the country is expected to represent a US$ 4.0 Bn incremental opportunity for consumer electronics packaging paper manufacturers during the forecast period of 2022-2027.
Key players of the paper and paperboard manufacturers and producers have made significant investments in the modernization and expansion of their facilities. Owing to an incredible rise in electronics, the consumer electronics packaging market is anticipated to showcase exponential growth in the near future.
A notable increase in domestic demand, technological advancements and increased production of high-quality products have been the primary drivers of industry growth in China. Such large-scale production of paper and paperboard in China is creating lucrative opportunities for consumer electronics packaging.
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Competitive Landscape
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 Oyi, Pregis Corporation, Shenzhen Hoichow Packing Manufacturing Ltd., Dordan Manufacturing Company, Hangzhou Xunda Packaging Co., Dunapack Packaging Group, JJX Packaging LLC are some of the key companies profiled in the full version of the report.
Pioneering and small-scale manufacturers throughout the global consumer electronics packaging market are focusing on understanding the current needs of brand owners and producing consumer electronics packaging solutions accordingly. Furthermore, these players are implementing marketing strategies such as mergers and acquisitions in order to expand their business reach and strengthen their market position.
How Global Spread Of COVID-19 Pandemic Has Impacted The Consumer Electronics Packaging Market Growth?
The pandemic's global spread has had an adverse impact on the sales of packaging solutions, along with consumer electronics packaging. The mobile phones and computer sector drive the demand for consumer electronics packaging. Even during the pandemic period, the output of these industries did not significantly get affected due to a halt in production, a scarcity of raw materials, and disruptions in supply chains.
Furthermore, strict lockdowns across countries, as well as shutdowns in public domains affected initial demands for electronic devices. Offices across the globe started working from home, schools started to operate in online mode. That significantly increased demand for electronics devices giving stimulus to packaging solutions. On a broader level, during the peak pandemic period, demand and sales of consumer electronics packaging rise significantly.
Consumer Electronics Packaging Market By Category
By Product Type:
- Corrugated Boxes
- Paperboard Boxes
- Thermoformed Trays
- Bags & Pouches
- Blister Packs & Clamshells
- Protective Packaging
- Others
By Application:
- Mobile Phones
- Computers
- TVs, DTH & Set-Top boxes
- Music Systems
- Printers, Scanners & Photocopy Machines
- Game Consoles & Toys
- Camcorders & Cameras
- Electronic Wearable
- Digital Media Adapters
- Others
By Material Type
- Plastic
- Paper & Paperboard
- Others
By Region:
- North America
- Latin America
- Western Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- Japan
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
Explore FMI’s Extensive Coverage on Packaging Domain
Industrial Electronics Packaging Market Analysis: The global industrial electronics packaging market currently enjoys a valuation of US$ 1.9 Bn, and is predicted to expand at a CAGR of 4.1% to attain a net worth of US$ 2.5 Bn by the end of 2029.
Pet Care Packaging Market Outlook: The global pet care packaging market is expected to reach US$ 14.1 Bn by the year 2030 at a decent CAGR of 4.2% between 2022 and 2030.
Hermetic Packaging Market Demand: The global hermetic packaging market is predicted to expand at a steady 4.3% CAGR, reaching a market valuation of US$ 4.7 Bn by the end of 2030, up from US$ 3.3 Bn in 2022.
Adhesive Films Market Volume: The global Adhesive Films market is expected to go the linear transition way, i.e. reach US$ 96.6 by the year 2030 at a CAGR of 4.6% between 2022 and 2030.
Synthetic Paper Market Size: The global synthetic paper market is expected to go the linear transition way, i.e. reach US$ 1,287.3 Mn by the year 2030 at a CAGR of 3.7% between 2022 and 2030.
Steel Drums & IBCs Market Share: The global steel drums & IBCs market is expected to hit a market value of US$ 16 Bn by 2022, and is expected to reach US$ 23 Bn expanding at a CAGR of 4.8% from 2022-2029.
Self-Laminating Tags Market Volume: The self-laminating tags market is expected to register a CAGR of 4.8% during the forecast period, up from US$ 90.95 Bn in 2022 to reach a valuation of US$ 145.35 Bn by 2032.
Retro-Reflective Labels Market Trend: The retro-reflective labels market is projected to register a CAGR of 12% during the forecast period, up from US$ 4.87 Bn in 2021 to reach a valuation of US$ 17 Bn by 2032.
Stainless Steel Valve Tag Market Forecast: The stainless steel valve tag market is likely to record an average CAGR 4.3% during the forecast period. The market is currently valued at US$ 5.66 Bn and is likely to reach US$ 8.27 Bn by 2032.
Sorter Machines Market Growth: The sorter machines market is likely to register a CAGR of 5.9% during the forecast period, and is anticipated to reach a market share of US$ 7.58 Bn in 2032.
Download complimentary copy of Future Market Insights White Paper on Intelligent Packaging for Circular Economy published in collaboration with Graham Packaging and Avery Dennison
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 5-years.
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