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Consumer Electronics Packaging Market Size, Share Analysis And Trends 2023
Consumer Electronics Packaging Market Report
The Business Research Company's Consumer Electronics Packaging Global Market Report 2023 identifies the increasing demand for paper and paperboard packaging as the major driver for the consumer electronics packaging market's growth in the forecast period. Paper and paperboard are usually used in packaging due to their biodegradable and environmentally friendly nature. This can help to lower the cost of shipping used electronics.
The global consumer electronics packaging market size grew from $20.2 billion in 2022 to $22.86 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The consumer electronics packaging market size is expected to grow to $35.77 billion in 2027 at a CAGR of 11.8%.
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Major competitors in the consumer electronics packaging market are Menasha Packaging Company LLC, a US-based packaging and merchandising solutions provider, acquired Color-Box, a business unit of Georgia-Pacific LLC, for an undisclosed amount. With this acquisition, Color-Box is expected to increase Menasha's geographic reach and give clients more graphic, design, and structural packaging alternatives. Georgia-Pacific LLC is a US-based firm operating in the packaging business for consumer goods, consumer electronics, and medicines.
A key trend in the consumer electronics packaging market includes product innovation. Major companies operating in the consumer electronics packaging sector are using new and innovative products to enhance productivity and efficiency. For instance, in June 2021, Sandvik Coromant, a manufacturer of manufacturing tools and packaging services, launched a smart packaging solution to increase operational efficiency. This solution uses artificial intelligence (AI) to determine the smallest packaging required to contain products that would reduce costs and CO2 emissions. With this innovation, everything that can be packed, whether it's a small item like a tool, any electrical equipment, or a huge item like a bicycle, will be located in the smallest box it can fit into by the application. It makes no difference how something is packed, regardless of its size or geometrical shape.
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The consumer electronics packaging market is segmented -
•By Product Type: Corrugated Boxes, Paperboard Boxes, Thermoformed Trays, Bags and Pouches, Blister Packs and Clamshells, Protective Packaging, Other Product Types
•By Technology: Active Packaging, Intelligent Packaging, Modified Atmospheric Packaging, Anti-Microbial Packaging, Aseptic Packaging, Other Technologies
•By Material Type: Plastic, Paper and Paperboard, Other Material Types
•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
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the consumer electronics packaging market.
The Business Research Company's "Global Consumer Electronics Packaging Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Consumer Electronics Packaging Market Include:
1. Executive Summary
2. Consumer Electronics Packaging Market Characteristics
3. Consumer Electronics Packaging Market Trends And Strategies
4. Consumer Electronics Packaging Market - Macro Economic Scenario
5. Consumer Electronics Packaging Market Size And Growth
……
26. Africa Consumer Electronics Packaging Market
27. Consumer Electronics Packaging Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Consumer Electronics Packaging Market
29. Consumer Electronics Packaging Market Future Outlook and Potential Analysis
30. Appendix
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