Press release
Consumer Electronics Packaging Market Size To Grow At A CAGR Of 12.9% In The Forecast Period Of 2024-2033
Consumer Electronics Packaging
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the consumer electronics packaging industry. This report on consumer electronics packaging market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The consumer electronics packaging market size has grown rapidly in recent years. It will grow from $23.01 billion in 2023 to $26.04 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth in the historic period can be attributed to consumer electronics market growth, protection and durability requirements, increased focus on branding and aesthetics, increased regulatory compliance, increased e-commerce and online retail, and increased global supply chain expansion.
The consumer electronics packaging market size is expected to see rapid growth in the next few years. It will grow to $42.37 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to growing sustainable and eco-friendly packaging, compact and space-saving designs, packaging for emerging technologies, growing need for customized and personalized packaging, and growing electronics recycling and circular economy. Major trends in the forecast period include e-commerce packaging innovations, smart packaging with IoT integration, innovative packaging for wearable electronics and AR/VR devices, introduction of user-friendly packaging, and technological innovation.
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Key Market Players:
DS Smith PLC, Mondi PLC, International Paper Company, Sonoco Products Company, Shenzhen Hoichow Packing Manufacturing Ltd., Dordan Manufacturing Company, Hangzhou Xunda Packaging Co. Ltd., Dunapack Packaging Group, Universal Protective Packaging Inc.
Market Drivers:
The increasing demand for paper and paperboard in packaging is driving the growth of the consumer electronics packaging market. 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. For instance, according to a survey conducted in January 2021 to explore consumer preferences, perceptions, and attitudes toward print, paper, and paper-based packaging, among 8,800 consumers at the global level by Two Sides North America, a US-based non-profit organization working to elevate the use of paper-based packaging and spread awareness, approximately 50% of people believed that paper-based packaging was better for the environment than other types of packaging, while 52% preferred products ordered online to be delivered in paper-based packaging. Therefore, the increasing demand for paper and paperboard packaging is propelling the consumer electronics packaging market growth..
More information about the Global Consumer Electronics Packaging Market Report -
https://www.thebusinessresearchcompany.com/report/consumer-electronics-packaging-global-market-report
Market segments for consumer electronics packaging include:
1) By Product Type: Corrugated Boxes, Paperboard Boxes, Thermoformed Trays, Bags and Pouches, Blister Packs and Clamshells, Protective Packaging, Other Product Types
2) By Technology: Active Packaging, Intelligent Packaging, Modified Atmospheric Packaging, Anti-Microbial Packaging, Aseptic Packaging, Other Technologies
3) By Material Type: Plastic, Paper and Paperboard, Other Material Types
4) 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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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