Selbyville, Delaware, June 10, 2024 (GLOBE NEWSWIRE) -- Consumer Electronics Packaging Market is projected reach USD 119 billion by 2032, as per a recent study by Global Market Insights Inc.
As per the report, increased demand for environmentally friendly materials is a major growth factor in the market. According to Roundup.org, sustainably marketed products grow 2.7 times faster than non-sustainably marketed products. In addition, 75% of these sustainable products perform better online than in-store, as environmental aspects become increasingly important, and consumers and producers prefer sustainable packaging solutions.
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The transition is driven by the need to reduce plastic waste and the environmental footprint of packaging materials. Companies are increasingly adopting renewable, recyclable, and biodegradable materials such as cardboard and corrugated cardboard considered more environmentally friendly than traditional plastic alternatives. Furthermore, regulatory pressures and initiatives aimed at minimizing single-use plastics are accelerating the shift to more environmentally friendly packaging options.
Metal Packaging to witness rising adoption
Consumer electronics packaging market size from metal packaging segment will grow significantly through 2032 due to the durability, strength, and recyclability of metal packaging. These solutions provide excellent protection for consumer electronics and ensure product safety and integrity during transportation and storage. The use of metal packaging also increases aesthetic appeal, which is especially important for high-end electronics brands that want to create a premium look for their products. In addition, metal packaging is highly customizable, allowing manufacturers to design sophisticated and eye-catching packaging that matches their brand identity.
Offline Channels to attract a large customer pool
The offline segment will hold a noticeable consumer electronics packaging market share by 2032 as traditional brick-and-mortar stores, including electronics specialty stores and large retail chains, continue to play a vital role in consumer electronics. Packaging for offline retail requires careful consideration of shelf appeal, brand visibility, and display of product information to attract consumers and facilitate purchase decisions. High-quality packaging that effectively presents the product can significantly influence consumer behavior and increase sales in physical stores. In addition, offline channels often involve direct interactions between consumers and products, making the tactile and visual aspects of packaging even more critical.
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Europe to emerge as a flourishing market
Europe consumer electronics packaging market will grow steadily through 2032, driven by a large consumer base and high demand for the latest consumer electronics products. The region's strong emphasis on sustainability and environmental responsibility has led to the growth of environmentally friendly packaging materials and practices. Countries like Germany, France, and the UK are at the forefront of this trend with strict regulations and standards for packaging waste and recycling. In addition, the presence of major consumer electronics manufacturers and innovative packaging companies
Consumer Electronics Packaging Market Players
The major companies in the market are DS Smith Plc, Sealed Air Corporation, Sonoco Products Company, Smurfit Kappa Group, Mondi Plc, Pregis LLC, International Paper, and Stora Enso Oyj. Their key growth strategies include a focus on innovation and sustainability through developing environmentally friendly and recyclable packaging materials. Companies also make strategic acquisitions and partnerships to expand their product portfolio and geographic reach. Another notable strategy is to improve product functionality through intelligent and protective packaging solutions. In addition, they invest in advanced manufacturing technologies to improve efficiency, reduce costs, and take advantage of market trends such as the growth of e-commerce to adapt packaging solutions to meet the specific needs of e-commerce.
Citing an instance, in May 2024, Mondi partnered with Lantmännen's Scan Sverige and introduced a recycling package for slices of ham, salami, and vegetables from the Pärsons brand, WalletPack. This polypropylene solution replaces the previous non-recyclable solution packaging made of polyethylene terephthalate and polyamide/polyethylene laminates.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
