NEWARK, Del, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Europe & USA consumer electronics packaging market is set to reach US$ 9.7 billion by 2033. Consumer electronics sales in Europe market will surge at 4% CAGR between 2023 and 2033. While the United States consumer electronic packaging market is set to expand at 3.5% CAGR
Rising production and sales of electronic devices is driving the Europe & USA market. In recent years, the adoption of mobile communication and computing devices has increased significantly. This, in turn, is fueling consumer electronics packaging sales.
Growing penetration of smartphones and computing devices will elevate the demand for protective packaging. Products such as folding cartons and corrugated boxes are gaining popularity across Europe.
Cellphones and tablets are generally packed in folding cartons and laptops. While desktops are sold in corrugated boxes. Rising adoption of these devices is also creating a high demand for protective packaging. This includes products such as bubble wraps and air pillows.
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Consumer electronics packaging helps companies to protect several fragile electronic products during shipping. They also offer remarkable printable features. Hence, the growing need for printed, eye-catching packaging products will boost sales.
Increasing need for eco-friendly and sustainable packaging is triggering sales in the sales. Growing concerns about increasing plastic waste from packaging will propel sustainable packaging demand.
Paper and paperboard-based products employed for consumer electronics packaging are sustainable and biodegradable. Such products can be composted, landfilled, or recycled without harming the environment.
Paper & paperboard-based consumer electronics packaging can be reused several times. This makes it a sustainable form of packaging. Various renowned consumer electronic brands are adopting sustainable packaging solutions for their offerings.
Leading manufacturers are adding sustainable products to their existing portfolio. The availability of sustainable packaging solutions will help the market to expand.
Key Takeaways from Europe & USA Consumer Electronics Packaging Market
- Europe & USA consumer electronics packaging market is set to exhibit steady growth.
- Europe consumer electronics packaging market will expand at 4.0% CAGR through 2033.
- Consumer electronics packaging sales across the United States are set to rise at 3.5% CAGR.
- Paper & paperboard material segment will hold around 3/5th share of the market by 2033.
- Rigid boxes segment will hold a prominent share of the market.
- The electronic wearable segment is set to expand 2.0 times the current market value by 2033
“Consumer electronics packaging is gaining enormous market acceptance in Europe & USA. This is because these packaging solutions are designed to be strong yet lightweight. They provide world-class printing and design capabilities. Besides this, they provide effective protection against impact, moisture, and electrostatic discharge.” says an FMI analyst
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Growing Online and Travel Retailing Anticipated to Assist Expansion
In recent years, the popularity of online retailing and e-commerce sites has increased significantly. This has created high-profit business models for manufacturers and sellers of consumer electronics.
Consumer electronics brands can ship products to customers through an online retailing model. This will cut extra costs and margins included in traditional retailing.
Frequent changes in buying patterns are creating a high demand for packaging solutions. Growing online retailing practices encourage manufacturers to produce packaging products suitable for online retailing.
Growing popularity of travel retailing will further boost consumer electronics packaging sales. A rise in travel retail sales across Europe and the USA is expected to bode well for the market.
Who is Winning?
Key consumer electronics packaging manufacturers are DS Smith PLC, WestRock Company, Mondi Group, Sonoco Products Company, International Paper Company, Smurfit Kappa Group PLC, Stora Enso Oyj, Pregis LLC, Sealed Air Corporation, UFP Technologies, Inc., and Nefab Group.
Also, other noticeable players in the market include Mayr-Melnhof Karton AG, Billerud AB, Europe Packaging B.V., PakFactory, Dordan Manufacturing Company, Wolters Packaging Czech Ltd., and others. The tier 1 players in the market held around 45 to 50% of the market in 2022.
About Europe & USA Consumer Electronics Packaging Market Report
In its new report, Future Market Insights offers an unbiased analysis of the Europe & USA consumer electronics packaging market, analyzing historical demand from 2015 to 2022 and forecast statistics for 2023 to 2033.
The study reveals growth projections on the Europe & USA consumer electronics packaging market based on material type (plastic, paper & paperboard, and molded fiber), product type (folding cartons, rigid boxes, trays, bags & pouches, blister packs & clamshells, and other protective packaging (wrapping films, loose fill, inserts & dividers, etc.)), and application (mobile phones, computers, music systems, cameras, TV, electronic wearable, digital media adapters, and other consumer electronics) in Europe & USA.
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Market Segmentation:
By Material Type:
- Plastic
- Paper & Paperboard
- Molded Fiber
By Product Type:
- Folding Cartons
- Rigid Boxes
- Trays
- Bags & Pouches
- Blister Packs & Clamshells
- Other Protective Packaging (Wrapping Films, Loose Fill, Inserts & Dividers, etc.)
By Application:
- Mobile Phones
- Computers
- Music Systems
- Cameras
- TV
- Electronic Wearables
- Digital Media Adapters
- Other Consumer Electronics
By Region/Country:
- Europe
- Germany
- Italy
- France
- United Kingdom
- Spain
- BENELUX
- Nordic
- Russia
- Poland
- Rest of Europe
- USA
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show - Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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Protective Packaging Market Growth: The global protective packaging market is set to gain a valuation of US$ 28.3 billion in 2023. Between 2023 and 2033, it is likely to extend at a steady CAGR of 5.0% and register a valuation of US$ 46.1 billion in 2033.
Rigid Boxes Market Trends: The global rigid boxes market is estimated to project growth at a CAGR of nearly 5% to 6% during the forecast period 2022-2032. With growing trend of premiumization, luxury rigid boxes are increasingly being adopted across diverse industries.
Next Generation Packaging Market Outlook: The global next-generation packaging market would witness a leap of growth at a CAGR of 6.1% between 2022 and 2032, reaching US$ 49.3 Billion between 2022 and 2032.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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