The Global Consumer Electronics Packaging Market size is expected to reach $35.6 billion by 2029, rising at a market growth of 8.0% CAGR during the forecast period

The mobile phones emerged as the leader in Consumer Electronics Packaging Market and is expected to capture 1/5th share of the market, as most mobile phones are fragile, due to which the packaging that surrounds mobile phones contributes to the products’ increased durability as well as their increased appeal.

New York, June 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Consumer Electronics Packaging Market Size, Share & Industry Trends Analysis Report By Type, By Material Type, By Application, By Regional Outlook and Forecast, 2023 - 2029" - https://www.reportlinker.com/p06469103/?utm_source=GNW It guards the mobile device against damage from the outside world. Some of the factors impacting the market are Increasing penetration of consumer electronics, need for sustainable packaging, and strict standards and requirements for the packaging of goods.Electronic equipment has a very high demand among the many kinds of technological consumer items found in homes. Televisions with larger screen sizes are becoming more popular, while on the other hand, the shrinking of electronic components is becoming more common. The growing use and adoption of consumer electronic products will increase the need for their packaging to safeguard them and their components in place, thus surging the market growth.Electronics companies are placing greater emphasis on the consumer experience during unboxing a new electronic device by using sleek, easy-to-open packaging, which effectively safeguards the product. This is anticipated to create more growth opportunities for the market. However, the fact that natural processes cannot break down many plastic packaging wastes has a significant and detrimental impact on the natural environment. To address this problem, governments on every continent are working to enact stringent legal guidelines and standards that the packaging sector must follow. This results in an increase in the cost of operations consistent with the rise in the price of raw materials and decreasing the profits of companies in the market.Type OutlookBased on type, the market is segmented into corrugated boxes, paperboard boxes, thermoformed trays, blister packs & clamshells and others. The paperboard boxes segment dominated the market with maximum revenue share in 2022. This is because it gives consumers easy-to-access storage and practical packaging that also looks good. Additionally, this packaging is especially safe for the environment because it is produced from recycled materials and comes in many forms and sizes. Hence, the characteristics like convenient storage and its environmental safety are expected to propel the segment’s growth in the projected period.Material Type OutlookOn the basis of material type, the market is divided into plastic, paper & paperboard and others. The plastic segment procured a promising growth rate in the market in 2022. This is because plastics are also frequently used in electronic packaging, but they provide a very distinct type of protection. The primary function of plastic in electronic packaging is to hold the electronic contents in position and prevent them from colliding with one another. In recent years, consumer electronics products have significantly integrated plastic products.Application Type OutlookBy application, the market is classified into mobile phones, computers, TVS, DTH & set-top boxes, music systems, printers, scanners & photocopy machines, camcorders & cameras, game consoles & toys, electronic wearables and others. The computers segment garnered a prominent revenue share in the market in 2022. This is owing to the fact that the computer is a tool that plays a significant part in the routine tasks that make up human beings’ lives today. As a result of the enormous benefits offered, computers are increasingly being used in a wide variety of contexts, including education, banking, medical, research, business, homes, and so on.Regional OutlookRegion-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region registered the highest revenue share in the market in 2022. This is due to the factors such as the growing popularity of electronic products like smart devices, digital cameras, smartphones, and televisions, the rapid advancement of packaging technology, and the rising demand for reliable and all-weather packaging in North America is boosting the market growth.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include DS Smith Plc., Smurfit Kappa Group plc, Sonoco Products Company, Billerud AB, The International Paper Company, JohnsByrne, Plastic Ingenuity, Stora Enso Oyj, UFP Technologies, Inc. and WestRock Company.Strategies Deployed in Consumer Electronics Packaging MarketJan-2023: Stora Enso Oyj took over De Jong Packaging Group, corrugated trays, and boxes provider. The acquisition of De Jong Packaging Group would strengthen the presence of the company in European packaging markets. Furthermore, the acquisition would boost the revenue growth of the company.Dec-2022: WestRock. Co. completed the acquisition of Grupo Gondi, a cardboard and paper packaging solutions provider. The acquisition would enable the company to offer its broad portfolio of paper and packaging solutions in the Latin American market.Nov-2022: Sonoco Products Company entered into an agreement to acquire the remaining equity interest in RTS Packaging, LLC, a joint venture between WestRock Company and Sonoco. The acquisition would enable the company to expand its consumer packaging portfolio.Nov-2022: Smurfit Kappa Group has acquired Pusa Pack, a bag-in-box packaging plant in Spain. Through this acquisition, the company aimed to strengthen its Bag-in-Box portfolio. Furthermore, both firms would benefit from the acquisition as they would develop a robust supply chain and create synergies in the market.Sep-2022: Smurfit Kappa entered into an agreement to acquire PaperBox, a packaging plant located in Saquarema. The acquisition would enable the company to expand its presence in Brazil and enhance its production capability.May-2022: Smurfit Kappa Limited took over Atlas Packaging, a cardboard packaging company. With this acquisition, the company expands its ability to offer its services in the UK market with innovative and sustainable packaging solutions.Jul-2021: Smurfit Kappa Group completed the acquisition of Cartonbox, a folding carton company. The acquisition would expand the footprints of the company in the Mexican market.Dec-2020: DS Smith formed a partnership with Touchguard, an antimicrobial surface protection advancement provider. Through this partnership, the company aimed to innovate and maintain the sustainability of its products.Scope of the StudyMarket Segments covered in the Report:By Type• Paperboard Boxes• Corrugated Boxes• Thermoformed Trays• Blister Packs & Clamshells• OthersBy Material Type• Paper & Paperboard• Plastic• OthersBy Application• Mobile Phones• Computers• TVs, DTH & Set-Top Boxes• Printers, Scanners & Photocopy Machines• Game Consoles & Toys• Music Systems• Electronic Wearables• Camcorders & Cameras• OthersBy Geography• North Americao USo Canadao Mexicoo Rest of North America• Europeo Germanyo UKo Franceo Russiao Spaino Italyo Rest of Europe• Asia Pacifico Chinao Japano Indiao South Koreao Singaporeo Malaysiao Rest of Asia Pacific• LAMEAo Brazilo Argentinao UAEo Saudi Arabiao South Africao Nigeriao Rest of LAMEACompanies Profiled• DS Smith Plc.• Smurfit Kappa Group plc• Sonoco Products Company• Billerud AB• The International Paper Company• JohnsByrne• Plastic Ingenuity• Stora Enso Oyj• UFP Technologies, Inc.• WestRock CompanyUnique Offerings • Exhaustive coverage• Highest number of market tables and figures• Subscription based model available• Guaranteed best price• Assured post sales research support with 10% customization freeRead the full report: https://www.reportlinker.com/p06469103/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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