Consumer electronics packaging is a rapidly growing market in Europe and the USA, driven by changing buying patterns, increasing e-commerce penetration, and the shift towards sustainable and eco-friendly packaging.
Europe consumer electronics packaging market is forecast to reach US$ 4 billion in 2023, with a projected CAGR of 4.8% until 2033, reaching a market value of US$ 6.4 billion. The USA consumer electronics packaging market is expected to be valued at US$ 2.4 billion in 2023, with a CAGR of 3.5% until 2033, reaching US$ 3.3 billion.
The target segment of paper packaging is expected to hold a 60% share of the Europe and USA consumer electronics market by 2033, driven by its sustainable and eco-friendly nature.
Rising sales of consumer electronic products, high penetration of e-commerce, and the demand for smart and intelligent packaging are creating opportunities for manufacturers.
For More Insights on this Market, Get A Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-16759
The market expansion is further fueled by the rising export of consumer devices and other electronic products, as well as the introduction of new packaging designs.
Consumer electronics packaging provides protection against mechanical damage, electrostatic discharge, moisture, radiation, and chemicals. It also offers printable features to enhance product presentation.
Leading manufacturers are focusing on sustainable packaging to meet the growing demand for eco-friendly options.
Between 2015 and 2022, consumer electronics packaging sales in Europe grew at a CAGR of 2.9%, reaching a market value of US$ 3.9 billion. In the USA, sales increased at a CAGR of 2.4%, reaching US$ 2.3 billion in 2022.
The global trend of commoditization and shorter product life cycles in consumer electronics is driving the demand for packaging solutions.
The industry is witnessing innovation in protective packaging solutions, including eco-friendly and smart packaging options.
Key Takeaways:
- The consumer electronics packaging market in Europe and the USA is projected to experience significant growth, driven by changing buying patterns and increasing e-commerce.
- Sustainable packaging materials such as paper and molded pulp are in high demand due to their eco-friendly nature.
- Smart and intelligent packaging solutions, including electronic surveillance and wireless identification, are gaining popularity among electronics brands.
- Packaging that can be used across all sales channels is in high demand to avoid customization costs.
- Rising sales of consumer electronic products and the introduction of new packaging designs present growth opportunities for manufacturers.
- The focus on customer experience and minimal, easy-to-open packaging is shaping the market.
- Rising awareness of environmental concerns is driving the demand for sustainable packaging solutions in the consumer electronics industry
Customize your report by selecting specific countries or regions and save 30% @ https://www.futuremarketinsights.com/customization-available/rep-gb-16759
“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
Competitive Landscape
Key consumer electronics packaging manufacturers across Europe and the USA are expanding their resources and manufacturing capabilities through partnerships and acquisitions. They are focusing on creating new products for the ever-increasing demand while also keeping sustainability in check. For instance
- In February 2022, to meet the rising demand from regional customers in the Pacific Northwest, WestRock Company announced the building of its new corrugated box facility.
- In March 2022, to facilitate its sustainable growth plans, Mondi Group invested US$ 298.2 million in corrugated packaging.
- In January 2022, to expand its capacity and meet rising demand for innovative and sustainable packaging, Smurfit Kappa Group plc announced an investment of US$ 33 million in its Fortaleza plant, Brazil.
- In October 2021, DS Smith plc partnered with Orange Centre to launch smart packaging for e-commerce that easily adapts to the size, shape, and quantity of products.
- In November 2021, a new portfolio of bio-based foams from wood that can be used for thermal and protective packaging was introduced by Stora Enso Oyj.
- In October 2021, Reflex Packaging Group was acquired by Nefab Group. The acquisition will help the company to save resources in supply chains.
- In January 2021, Integrated Systems, Inc., and Sonoco Products Company partnered.
About Europe & USA Consumer Electronics Packaging Market Report
Future Market Insights, in its new report, 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.
Speak to Our Analyst @ https://www.futuremarketinsights.com/ask-the-analyst/rep-gb-16759
Key Players:
- DS Smith PLC
- WestRock Company
- Mondi Group
- Sonoco Products Company
- International Paper Company
- Smurfit Kappa Group PLC
- Stora Enso Oyj
- Pregis LLC
Europe & USA Consumer Electronics Packaging 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
About Us:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com