June 13, 2024
Consumer Electronics Packaging Market
Ict

Consumer Electronics Packaging Market is in trends by Protective Function of Products

The consumer electronics packaging market involves the packaging of various consumer electronic products such as mobile phones, laptops, televisions, and others. These packaging solutions comprise of a wide range of materials including plastic resins, corrugated boxes, flexible packaging, and others. The packaging provides protection from mechanical stress, ESD, humidity, and other environmental factors during storage, transportation, and use, which is a key requirement for precision electronic components and devices.

Global Consumer Electronics Packaging Market is estimated to be valued at US$ 22.63 Bn in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Consumer Electronics Packaging are Hangzhou Xunda Packaging Co., Smurfit Kappa Group PLC, DS Smith Plc, Pregis Corporation, Dunapack Packaging Group, Sonoco Products Company, Stora Enso Oyi, WestRock Company, Mondi Group, JJX Packaging LLC, Huhtamaki Oyj, Dordan Manufacturing Company, Shenzhen Hoichow Packing Manufacturing Ltd., UFP Technologies, Inc., International Paper Company, and Sealed Air Corporation.

The global consumer electronics market has been witnessing steady growth over the past few years with rise in disposable income and changing lifestyles. This growing demand from industries such as mobile phones, computers, and consumer appliances is anticipated to drive the need for effective packaging solutions.

The companies in the consumer electronics packaging market are focusing on expanding their global footprint by establishing manufacturing and distribution facilities across different geographical regions. This helps them better serve the demand from multinational OEMs and cater to the packaging requirements with reduced lead times.

Market key trends

Customized and sustainable packaging is one of the key trends being observed in the Consumer Electronics Packaging Market Demand . With growing environmental concerns, packaging manufacturers are developing packaging solutions made from recycled and recyclable materials. Factors such as product safety, supply chain efficiency, and brand differentiation are also driving innovations in packaging formats, designs, and structures. Tamper-evidence, moisture protection, and packaging optimized for e-commerce are some other trends gaining traction.

Porter’s Analysis

Threat of new entrants: New entrants face high manufacturing costs for machinery, research, regulations and established brand loyalty of existing players.

Bargaining power of buyers: Large buyers like e-commerce giants have significant bargaining power over packaging manufacturers.

Bargaining power of suppliers: A few major suppliers for packaging raw materials like paper, plastic gives them significant bargaining power.

Threat of new substitutes: Recycled and bio-degradable packaging materials pose a threat, though compliance with quality and regulations is a hurdle for substitutes.

Competitive rivalry: Intense competition exists between established packaging manufacturers to cater to consumer electronics giants with innovative, sustainable and cost-effective solutions.

Geographical regions:

North America holds the major share of the market currently due to high consumer electronics penetration and demand. The US and Canada contribute significantly to the regional market size.

Asia Pacific is expected to be the fastest growing geographical segment during the forecast period. Rising electronics consumption in India, China, Japan, and other developing nations is driving the regional market growth. Growing manufacturing bases in the region further support packaging requirement

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it