Rapid Innovations Driven by IoT and AI: Mobile Phone Accessories Packaging Market Poised to Reach $5.6 Billion by 2031"

The global mobile phone accessories packaging market is on a trajectory of substantial growth, projected to reach a value of US$ 5.6 billion by 2031, exhibiting a Compound Annual Growth Rate (CAGR) of 5.4%. This ascent is fueled by the escalating usage of mobile phones, particularly among millennials, prompting inventive approaches in packaging design.

The market's evolution is accentuated by the burgeoning demand for packaging solutions that blend aesthetics and tamper resistance, ensuring secure product delivery. The integration of cutting-edge technologies alongside packaging objectives is expected to further bolster this favorable business landscape worldwide.

However, the mobile phone accessories packaging market isn't immune to industry-specific challenges. Factors like weak economic conditions and limited brand awareness in underdeveloped nations pose potential hindrances to growth. Recent strides in the sector encompass the incorporation of IoT and AI technologies, voice recognition systems, wireless audio products, and innovative advancements in clip-on headphones.

An analysis by Future Market Insights predicts a notable increase of 240 basis share points (BPS) in H1-2022 compared to H1-2021, with an additional BPS change of 10 observed in the projected H1-2022 outlook. This signifies the market's dynamic nature, characterized by incremental growth and continuous adaptation to emerging trends.

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# Here are some of the key trends in the mobile phone accessories packaging market:

The increasing demand for sustainable packaging solutions.
The growing popularity of online shopping.
The development of new technologies such as augmented reality and virtual reality.

The mobile phone accessories packaging market is a dynamic and growing market. The key players in the market are constantly innovating to meet the changing demands of consumers.

Mobile phone adoption is increasing, especially among millennials, which has spurred innovation in the packaging of mobile phone accessories. Wider usage of mobile phone accessory packaging is also made possible by the desire for aesthetically pleasing and tamper-evident packaging to ensure safe delivery. It is anticipated that global business would continue to be favorable due to technological advancements combined with packaging objectives.

Despite environmental concerns, plastic packaging will continue to be ubiquitous as smartphone manufacturer focus on reducing end-cost to consumers. The latest study by FMI analyses mobile phone accessory packaging sales in over 20+ high-growth markets, helping manufacturers, suppliers, and stakeholders in the value chain to make informed decisions.

According to the Europe Statistical Survey, in 2019 almost three quarters (73 %) of the EU-27 adult population used a mobile device such as a mobile phone or portable computer (including laptops and tablets) to connect to the internet when away from home or work, while the corresponding share among young people aged 16-29 years stood at 93 %. The data represents the huge growth scope for mobile phone accessories packaging manufacturers around the world.

In terms of revenue, the global mobile phone accessories packaging market is estimated to grow by 1.3x during the forecast period paving new paths for the key market players.

# Key Takeaways

High demand for clear view boxes being witnessed in all major markets
PET to remain highly sought-after material for mobile phone accessories packaging manufacturers
Asia Pacific ex. Japan is expected to remain in the leading position with nearly 50% of the market share
US will be the second largest market, holding over 83% market share in this region
Germany to remain the epicentre in Western Europe, accounting for significant packaging sales and exports
The United Kingdom, Canada, China, Japan, France, and a few other countries to remain lucrative throughout the forecast period

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Sustainability a Key Focus Area for Mobile Phone Accessory Packaging Companies
Due to the chemical composition of the flexible packaging materials, there are a number of advantages over conventional packaging materials. The flexible packaging formats in the mobile phone accessories packaging market are pouches & bags, blister packs, and others. The major advantage is that these formats follow sustainability checks. Also, this format has high demand owing to the requirement of less raw material, reduced energy consumption, relatively low waste production, and low carbon footprint.

By reducing the amount of hazardous materials used in packaging, the manufacturers are fulfilling the criteria for environment-friendly products which in turn is fuelling the sales. Globally, governments are focusing on framing strict policies regarding recyclability and reusability of plastic materials.

For instance, as per the Federal Packaging Regulations in the United States, environment-friendly and safe packaging materials are required in manufacturing of packaging for consumer goods. Imposition of such laws are expected to bolster the demand for mobile phone accessories packaging in near future.

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# Who is winning?
The global mobile phone accessories packaging market offers highly competitive environment to its key players. In order to secure their positions in the cut-throat competition, the key players such as Smurfit Kappa Group, Sonoco Products Company, Dordan Manufacturing Co., Hip Lik Packaging Products Corp India Private Limited, Panic Plastics, Inc., Display Pack, Inc., and others are focusing on launching higher quality products with lesser cost while the Tier 3 players hold 65%-75% of the global market share. Some of the new launches by the key players are-

Display Pack, Inc. launched its new range of mobile phone accessories packaging solutions such as Display Box 78-38 Series, Display Box 66-38 Series, Display Box 57-29 Series, and others in 2019
Sonoco Products Company launched its new extensive range of mobile phone accessories packaging solutions such as Sonoco Flexible Packaging Solutions, Sonoco Point of Purchase Displays, and others in 2018

# Key Segments Covered in Mobile Phone Accessories Packaging Industry Research

Packaging Type:

Folding Cartons
Clear View Boxes
Pouches & Bags
Clamshells
Blister Packs
Trays

Material:

Plastic
PE
PET
PVC
Others (Polystyrene)
Paper & Paperboard

Application:

Headsets
Chargers
Protective Covers
Screen Protectors
Power Banks
Batteries
Portable Speakers
Memory Cards
Others (VR, Cables)

Region:

North America
Latin America
Western Europe
Eastern Europe
Asia Pacific ex. Japan (APEJ)
Middle East and Africa (MEA)
Japan

Contact:
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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient 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 10 years.

This release was published on openPR.