Consumer Electronics Packaging Market Statistics, 2032
The global consumer electronics packaging market was valued at $22.1 billion in 2022, and is projected to reach $49.1 billion by 2032, growing at a CAGR of 8.4% from 2023 to 2032.
Consumer electronics packaging design is an essential concept of the electronics industry. It is made to showcase and protect a wide range of electronic goods, including smartphones, laptops, cameras, and other gadgets. Packaging of consumer electronics is an important part of the electronics supply chain as it has both practical and aesthetic advantages. Protecting the product during transport and storage is one of the primary purposes of consumer electronics packaging. With the fragile characteristics of electronic gadgets, it is fundamental to guarantee they are bundled safely to forestall harm during delivery. The bundling materials utilized are carefully decided to safeguard the item from natural factors, for example, temperature changes, mugginess, and mechanical shock. Packaging that can withstand the rigors of transport, handling, and storage is made from special materials such as cardboard, foam, and plastic.
Packaging of consumer electronics should be made so the item is effortlessly accessible while remaining intact. The product's packaging needs to make it possible for it to be removed and reinserted without causing damage or compromising its functionality. This necessitates careful consideration of the packaging's design and construction, including the application of unique features such as tabs, perforations, and adhesives. Marketing and branding are yet another important function of consumer electronics packaging. The packaging must be appealing to the intended audience and catchy. In addition, it must clearly convey the product's benefits, specifications, and features. To accomplish this, businesses devote a significant amount of time and resources to designing packaging that is not only informative however also appealing to the eye.
The packaging design of consumer electronics keeps on changing to reflect shifting preferences among customers and advancements in technology. Ongoing patterns in buyer hardware bundling incorporate moderation, eco-agreeableness, and customization. Clean lines, muted colors, and minimal text are hallmarks of minimalist designs, which emphasize simplicity. Utilization of recycled or biodegradable materials and eco-friendly designs aims to reduce waste and minimize environmental impact. A more individualized shopping experience for the customer is made possible by specialized designs that cater to specific consumer groups or niche markets.
Consumer electronics packaging comes in different structures and materials, contingent upon the sort and size of the item being bundled. Smartphones, for instance, are frequently shipped in sturdy and compact boxes that have foam inserts to protect them from damage during shipping. The unboxing of laptops and tablets can be an elegant and simple experience, thanks to the use of magnetic closures in sleek and minimalist boxes. Cameras and other hardware might be bundled in defensive cases or packs for simple convenience and additional security against scratches or effects. Another development in consumer electronics packaging is customized packaging, which targets certain clientele or niche markets. The packaging used by a company named DJI, a business that specializes in drones and other aerial photography equipment, is one such. DJI's packaging features a modern, black style that highlights the company's brand image and is intended to appeal to photographers and videographers. A variety of compartments and accessories are also included in the packaging, which is tailored to the demands of the intended market.
Rise in use of cutting-edge electronics in smart houses along with increase in funding for the creation of recyclable packaging materials and advanced packaging technologies are the factors that drive the market growth. However, strict guidelines for recycling and packaging garbage hamper the market growth. Conversely, increase in demand for retail-ready and rigid packaging is expected to create lucrative consumer electronics packaging market opportunity.
The consumer electronics packaging market is segmented into Type, Material Type and Application.
By type, the market is divided into corrugated boxes, paperboard boxes, thermoformed trays, blister packs & clamshell, and others.
By material type, the market is classified into plastic, paper & paperboard, and others.
By application, the market is categorized into mobile phones, computers, TVs, DTH & Set-Top boxes, music systems, printers, scanners & photocopy machines, camcorders & cameras, game consoles & toys, electronic wearables, and others.
Region wise, the consumer electronics packaging market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Competitive analysis and profiles of the major global consumer electronics packaging market players that have been provided in the report include DS Smith Plc, Mondi Group, International Paper Company, Sonoco Products Company, Sealed Air Corporation, Huhtamaki Oyj, Smurfit Kappa Group PLC, WestRock Company, UFP Technologies, Inc., Stora Enso Oyj. Top market players have adopted various strategies, such as product development, acquisition, innovation, partnership, and others to expand their foothold in the consumer electronics packaging market size.
Top Impacting Factors
One of the significant factors that impact growth of the consumer electronics packaging industry include rise in use of cutting-edge electronics in smart house. Moreover, rise in funding for the creation of recyclable packaging materials and advanced packaging technologies is expected to drive the market growth. However, strict guidelines for recycling and packaging garbage might hamper growth of the market. On the contrary, surge in demand for retail-ready and rigid packaging offers potential growth opportunities for the consumer electronics packaging market.
Historical Data and Information
The global consumer electronics packaging market outlook is highly competitive, owing to the strong presence of existing vendors. Vendors of consumer electronics packaging market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
- In January 2023, Stora Enso acquired the Netherland-based company De Jong Packaging Group, one of the largest corrugated packaging producers in the Benelux countries. The acquisition is a value of approximately EUR 1,020 million.
- In August 2022, JohnsByrne Company acquired and installation of our newest CO2-neutral, Heidelberg Speedmaster XL eight-color press. The press is the latest capital investment in JohnsByrne's commitment as an industry-leading provider of sustainable packaging.
- In April 2022, BillerudKorsnäs acquired Verso for a purchase price of approximately USD 825 million in cash. Verso is a leading producer of coated paper in North America. The acquisition of Verso reinforces BillerudKorsnäs' strategy to drive profitable and sustainable growth and its ambition to accelerate its growth in North America.
- In June 2021, Smurfit Kappa Group, acquired Cartones del Pacifico, a leading paper-based packaging company in Peru. The acquisition represents an important milestone for the Company as it expands its footprint in the Americas from 12 to 13 countries, and builds on the Group's leadership position as the largest pan-regional supplier in Latin America.
- In May 2021, DS Smith invested $140 million in research and development, including new materials to replace plastics and a testing program to strengthen corrugated cardboard and reduce G-force shock in-home delivery packaging.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the consumer electronics packaging market analysis from 2022 to 2032 to identify the prevailing consumer electronics packaging market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the consumer electronics packaging market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The consumer electronics packaging market forecast report includes the analysis of the regional as well as global consumer electronics packaging market trends, key players, market segments, application areas, and consumer electronics packaging market growth strategies.
Consumer Electronics Packaging Market Report Highlights
Market Size By 2032
USD 49.1 billion
CAGR of 8.4%
2022 - 2032
By Material Type
Key Market Players
WestRock Company, Smurfit Kappa Group PLC, UFP Technologies, Inc., Billerud AB, JOHNSBYRNE, Stora Enso Oyj, DS Smith Plc, plastic ingenuity, Sonoco Products Company, International Paper Company
The consumer electronics packaging market exhibited development potential across several applications such as smartphones, laptops, and cameras. Furthermore, the contribution to the worldwide market is anticipated to grow considerably in the coming years. In addition, innovation in packaging materials along with e-commerce development worldwide drives the growth of the consumer electronics packaging market.
Consumer Electronics Packaging market is highly competitive owing to strong presence of existing vendors. Consumer electronics packaging vendors invest substantially on R&D and skilled workforce and are anticipated to gain a competitive edge over their rivals. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by key vendors.
The demand for consumer electronics packaging in different sectors is estimated to expand at a rapid pace during the forecast period due to rise in disposable income along with the logistics and supply chain efficiency.
The key players profiled in the report include Consumer Electronics Packaging market players, such as DS Smith Plc, Mondi Group, International Paper Company, Sonoco Products Company, Sealed Air Corporation, Huhtamaki Oyj, Smurfit Kappa Group PLC, WestRock Company, UFP Technologies, Inc., and Stora Enso Oyj.