Mobile Phone Accessories Packaging Market Set for Growth in the Innovation-Driven U.S. Consumer Electronics Industry. The US consumer electronics industry, valued at $295 billion in 2020, is a major contributor to the nation’s economy. Innovation continues to be a driving force in this sector, attracting a wide range of consumers and shaping their technology expectations. Consequently, there’s a promising opportunity for mobile phone accessories packaging manufacturers to enter the U.S. market, as consumers’ appetite for new technology and accessories remains strong.
The global mobile phone accessories packaging market is on a trajectory of substantial growth, with an anticipated value of US$ 5.6 billion by 2031, driven by a robust compound annual growth rate (CAGR) of 5.4%. This expansion is primarily attributed to the increasing adoption of mobile phones, particularly among millennials, leading to continuous innovation in the packaging of mobile phone accessories. Aesthetic and tamper-evident packaging solutions are in high demand, ensuring the safe and secure delivery of these valuable products.
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Furthermore, the integration of technology into mobile phone accessories and their packaging is a significant trend. This includes the incorporation of IoT and AI technologies, voice recognition systems, wireless audio products, and innovative advancements in clip-on headphones, enhancing the user experience and driving market growth.
However, the industry’s dynamics are subject to various factors, including economic conditions and brand awareness challenges in underdeveloped countries, which may pose hurdles to the mobile phone accessories packaging market’s growth. Nevertheless, the sector’s overall outlook remains positive, fueled by technological advancements and the increasing ubiquity of mobile devices.
key trends:
- The increasing demand for sustainable packaging solutions.
- The growing popularity of online shopping.
- The development of new technologies such as augmented reality and virtual reality.
The mobile phone accessories packaging market is a dynamic and growing market. The key players in the market are constantly innovating to meet the changing demands of consumers.
Mobile phone adoption is increasing, especially among millennials, which has spurred innovation in the packaging of mobile phone accessories. Wider usage of mobile phone accessory packaging is also made possible by the desire for aesthetically pleasing and tamper-evident packaging to ensure safe delivery. It is anticipated that global business would continue to be favorable due to technological advancements combined with packaging objectives.
Despite environmental concerns, plastic packaging will continue to be ubiquitous as smartphone manufacturer focus on reducing end-cost to consumers. The latest study by FMI analyses mobile phone accessory packaging sales in over 20+ high-growth markets, helping manufacturers, suppliers, and stakeholders in the value chain to make informed decisions.
According to the Europe Statistical Survey, in 2019 almost three quarters (73 %) of the EU-27 adult population used a mobile device such as a mobile phone or portable computer (including laptops and tablets) to connect to the internet when away from home or work, while the corresponding share among young people aged 16-29 years stood at 93 %. The data represents the huge growth scope for mobile phone accessories packaging manufacturers around the world.
In terms of revenue, the global mobile phone accessories packaging market is estimated to grow by 1.3x during the forecast period paving new paths for the key market players.
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Key Takeaways
- High demand for clear view boxes being witnessed in all major markets
- PET to remain highly sought-after material for mobile phone accessories packaging manufacturers
- Asia Pacific ex. Japan is expected to remain in the leading position with nearly 50% of the market share
- US will be the second largest market, holding over 83% market share in this region
- Germany to remain the epicentre in Western Europe, accounting for significant packaging sales and exports
- The United Kingdom, Canada, China, Japan, France, and a few other countries to remain lucrative throughout the forecast period
Sustainability a Key Focus Area for Mobile Phone Accessory Packaging Companies
Due to the chemical composition of flexible packaging materials, there are a number of advantages over conventional packaging materials. The flexible packaging formats in the mobile phone accessories packaging market are pouches & bags, blister packs, and others. The major advantage is that these formats follow sustainability checks. Also, this format has high demand owing to the requirement of less raw material, reduced energy consumption, relatively low waste production, and low carbon footprint.
By reducing the amount of hazardous materials used in packaging, the manufacturers are fulfilling the criteria for environment-friendly products which in turn is fuelling the sales. Globally, governments are focusing on framing strict policies regarding recyclability and reusability of plastic materials.
For instance, as per the Federal Packaging Regulations in the United States, environment-friendly and safe packaging materials are required in manufacturing of packaging for consumer goods. Imposition of such laws are expected to bolster the demand for mobile phone accessories packaging in near future.
Who is winning?
The global mobile phone accessories packaging market offers highly competitive environment to its key players. In order to secure their positions in the cut-throat competition, the key players such as Smurfit Kappa Group, Sonoco Products Company, Dordan Manufacturing Co., Hip Lik Packaging Products Corp India Private Limited, Panic Plastics, Inc., Display Pack, Inc., and others are focusing on launching higher quality products with lesser cost while the Tier 3 players hold 65%-75% of the global market share. Some of the new launches by the key players are-
- Display Pack, Inc. launched its new range of mobile phone accessories packaging solutions such as Display Box 78-38 Series, Display Box 66-38 Series, Display Box 57-29 Series, and others in 2019
- Sonoco Products Company launched its new extensive range of mobile phone accessories packaging solutions such as Sonoco Flexible Packaging Solutions, Sonoco Point of Purchase Displays, and others in 2018
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Key Segments:
Packaging Type:
- Folding Cartons
- Clear View Boxes
- Pouches & Bags
- Clamshells
- Blister Packs
- Trays
Material:
- Plastic
- PE
- PET
- PVC
- Others (Polystyrene)
- Paper & Paperboard
Application:
- Headsets
- Chargers
- Protective Covers
- Screen Protectors
- Power Banks
- Batteries
- Portable Speakers
- Memory Cards
- Others (VR, Cables)
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific ex. Japan (APEJ)
- Middle East and Africa (MEA)
- Japan
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.
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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