Refurbished Phones Packaging Market Driven by Growing Trend for Sophisticated and Cost-effective Packaging Solutions Over Traditional Packaging Alternatives
The refurbished phones packaging market is booming due to increase in demand for of refurbished phones. All of the major players in the phone manufacturing market are opting for the trade-in of the old smartphones and sell them to end consumers at higher margin rates, comparable to new phones. This overall process will encourage the sellers to buy a new smartphone which will ultimately increase company’s revenues and simultaneously it will also fulfill the desires of a buyer to buy lucrative phones at lower costs. To deliver these refurbished phones to end users, a brand new packaging is required. Refurbished phones packaging product is mainly made up of the sturdy corrugated cardboard. The box formed of this type of cardboard material is anticipated to be cost-effective and eco-friendly packaging solution. The corrugated cardboard is 100% recyclable and reusable. The product is easy to transport without any losses in transit hence preferred in refurbished phones packaging.
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Refurbished Phones Packaging: Market Dynamics
The main driving factor for the Refurbished Phones Packaging Market is co-related with the consumer orientation towards buying an unaffordable premium phone i.e. a refurbished phone at a cheaper price. IN turn, reflecting growing demand for refurbished phones packaging for refurbished phones Growing trend for sophisticated and cost-effective packaging solutions over traditional packaging alternatives is boosting the major trend for the refurbished phones packaging market. The entire selling process includes resetting an old phone, repairing the same if required, and then packing it in a new packaging product before delivering it to end consumers. Furthermore, growing reassurance of consumer’s on refurbished phones as well as e-commerce players luring consumers through deals on the refurbished mobile phones have translated into the rising demand for refurbished phone packaging ultimately driving the market.
Refurbished Phones Packaging: Market Segmentation
Refurbished Phones Packaging market is segmented as follows-
Refurbished Phones Packaging market segmentation by packaging type –
Refurbished Phones Packaging market segmentation by Material type –
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Refurbished Phones Packaging market segmentation by end use –
Other allied products, etc.
Refurbished Phones Packaging Market: Regional outlook
The Global Refurbished Phones Packaging market is segmented across following regions- Asia-Pacific, Eastern Europe, Western Europe, North America, Latin America, Middle East and Africa. There is an enormous growth potential in this market to grow substantially over the entire forecast period at a higher combined annual growth rate all over the world. The overall refurbished phones market accounts for approximately 7-8% of the overall phones market. As the refurbished phone users are increasing worldwide, the demand for refurbished packaging products will also increase. In North America and Western Europe, the refurbished phones market revenue has increased about 60-70% in last two years. There are a fewer manufacturer for this specific product in these regions. So this may create an opportunity for the manufacturers to invest in these emerging markets. Other regions including Asia-Pacific, Middle East & Africa, and Latin America are also witnessing the similar trends and is expected to grow in the coming years.
Refurbished Phones Packaging Market: Key players
Some of the key players in the Global Refurbished Phones Packaging market are Bright Sea Industrial Co., Ltd Dongguan Jinshang Printing & Packaging Co., Ltd., Nanjing Tenese Import and Export Co., Ltd., Miaoxin Pack Printing Co., Ltd., Shenzhen Worthypack Co., Ltd., Shanghai Shallow Moon Printing & Packing Co., Ltd., Zhuhai Modern Packaging Co., Ltd., Guangzhou Huaheng Plastic Products Co., Ltd., Foshan QualiPrint Co., Ltd., Xiamen Xinlongqiao Industry & Trade Co., Ltd., Guangzhou Weiye Color Printing Co., Ltd., Shanghai Hong Ming Printing Co., Ltd., Guangzhou Igiftbox Printing & Packaging Co., Ltd., Pragati Offset Pvt. Ltd., Parksons Packaging Ltd., Plastic Ingenuity.
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