Press release
Strong Growth Ahead: Consumer Electronics Packaging Market Size To Grow At Arecord 13.5% Cagr By 2029
Consumer Electronics Packaging
How Big Is the Consumer Electronics Packaging Market Size Expected to Be by 2034?
The size of the consumer electronics packaging market has seen rapid expansion in the past few years. The forecast suggests that it will rise from $25.89 billion in 2024 to $29.31 billion in 2025, with a compound annual growth rate (CAGR) of 13.2%. The historical growth can be credited to various factors, including growth in the consumer electronics market, essential protection and durability needs, enhanced attention to branding and looks, an escalated level of regulatory compliance, a surge in e-commerce and online retail operations, and expansion of the global supply chain.
In the coming years, swift expansion is anticipated in the consumer electronics packaging market. It is projected to reach $48.56 billion in 2029, with a compound annual growth rate (CAGR) of 13.5%. The anticipated growth in the future years is mainly due to the adoption of sustainable and eco-friendly packaging, compact and space-saving designs, packaging for new technologies, increasing demand for individualized and personalized packaging, and the expanding electronics recycling and circular economy. The major trends forecasted include e-commerce packaging advancements, intelligent packaging incorporating IoT, novel packaging for wearable tech and AR/VR devices, development of user-friendly packaging, and technological improvements.
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What Are the Emerging Segments Within the Consumer Electronics Packaging Market?
The consumer electronics packaging market covered in this report is segmented -
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
Subsegments:
1) By Corrugated Boxes: Regular Slotted Containers (RSC), Die-Cut Boxes, Multi-Depth Boxes
2) By Paperboard Boxes: Folding Cartons, Rigid Boxes, Paperboard Trays
3) By Thermoformed Trays: Clear Thermoformed Trays, Colored Thermoformed Trays, Custom-Shaped Thermoformed Trays
4) By Bags and Pouches: Stand-Up Pouches, Flat Bags, Gusseted Bags
5) By Blister Packs and Clamshells: Standard Blister Packs, Custom Blister Packs, Clamshell Packaging
6) By Protective Packaging: Foam Inserts, Air Cushioning, Bubble Wrap
7) By Other Product Types: Eco-Friendly Packaging Solutions, Custom Packaging Solutions, Specialty Packaging
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What Long-Term Drivers Are Shaping Consumer Electronics Packaging Market Trends?
The consumer electronics packaging market is experiencing growth as a result of the rising demand for paper and paperboard in packaging. This is predominantly because they are eco-friendly and biodegradable, which can lead to a reduction in shipping costs for used electronics. For instance, a study carried out by Two Sides North America in May 2023 gave us fresh insight into consumers' views on paper and paper-based packaging. It highlighted that around 57% of participants now view paper-based packaging as more eco-friendly than other options, thereby indicating an increasing inclination towards sustainability. Moreover, 56% of consumers prefer to have their online purchases delivered in paper-based packaging, signifying a substantial surge in demand for eco-friendly packaging solutions. Hence, the expanding demand for paper and paperboard packaging is fuelling the growth of the consumer electronics packaging market.
Who Are the Top Competitors in Key Consumer Electronics Packaging Market Segments?
Major companies operating in the consumer electronics packaging market include 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., Parksons Packaging Ltd., Plastic Ingenuity, JJX Packaging Group, UFP Technologies Inc., JohnsByrne Company, Smurfit Kappa Group plc, Billerud AB, Stora Enso Oyj, WestRock Company, Pregis Corporation LLC., Tekni-Plex Inc., Huhtamaki Oyj, Graphic Packaging International LLC, Guangzhou Huaisheng Packaging Co. Ltd., Amcor Limited, Sealed Air Corporation
What Consumer Electronics Packaging Market Trends Are Gaining Traction Across Different Segments?
In the consumer electronics packaging market, product innovation is becoming increasingly popular. Several companies operating in this sector are utilizing groundbreaking products to improve efficiency and productivity. For example, in September 2023, Sandvik Coromant revealed plans to extend its smart packaging solutions by introducing a more advanced AI-based tool designed to maximize packaging efficiency. This novel solution uses machine learning algorithms for analysing product measurements and weight to confirm each item is efficiently packed to occupy minimal space. The initiative, which aims to reduce the quantity of packaging materials used, hopes to substantially cut down on transportation expenses and carbon emissions.
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Which Regions Are Becoming Hubs for Consumer Electronics Packaging Market Innovation?
Asia-Pacific was the largest region in the consumer electronic packaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the consumer electronics packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Consumer Electronics Packaging Market?
2. What is the CAGR expected in the Consumer Electronics Packaging Market?
3. What Are the Key Innovations Transforming the Consumer Electronics Packaging Industry?
4. Which Region Is Leading the Consumer Electronics Packaging Market?
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