ID: MRFR/PNT/2245-CR | May 2022 | Region: Global | 171 pages
The global electronic goods packaging market is expected to reach USD 54,104.3 million by 2027 and register a CAGR of 8.1% during the forecast period of 2021 to 2027.
Packaging has a significant impact on consumers' perceptions of the brand and their whole purchase experience. Packaging is increasingly viewed as a critical link between customers and companies in order to ensure that hygiene is maintained, safety is prioritized, and product or service quality is not compromised. In the e-commerce era, packaging already played an important part in the consumer purchasing experience. And now its influence has grown much stronger. This industry will continue to ride the e-commerce wave for a long time. An increase in demand for consumer electronics and a boom in the e-commerce retail industry is driving the market growth. However, keeping up with technological changes is hampering the market growth. Furthermore, technological advancement along with rising trends of digitization creates an opportunity for the electronic goods packaging market.
The demand for electronic goods packaging solutions has decreased considerably from the industrial sectors due to COVID-19. The packaging industry also witnesses a mixed impact owing to the significant changes in on-premises and off-premises business. Many food chain outlets, such as cafes and restaurants, are entirely closed in several countries, which is negatively impacting the packaging industry. The manufacturing plants have shut down due to restrictions, shortage of labor and raw materials, and other factors. The packaging industry witnesses a decrease in the demand for electronic goods packaging solutions due to the restrictions on public gatherings, tourist activities, and outings, which significantly boosts the demand for cosmetics. Furthermore, the rising demand for purchasing products from e-commerce and online stores also drives the overall packaging industry's growth.
As electronic components become more integrated, new electronic devices based on innovative materials and technologies arise. The size of electronic components is becoming more precise, and board alignment is growing more complicated, putting increasing demands on electrostatic, mechanical, moisture-proof, and other package protection. Environmental factors surrounding consumer electronics products, such as online shopping, logistics and distribution, environmental protection requirements, cultural and creative design, packaging, new materials, consumer aesthetic, and consumer attitudes, have all changed significantly in recent years.
Consumer packaged goods, or CPG, businesses are always striving to innovate in order to meet changing client expectations and differentiate their products. Innovative packaging offers them such platforms by utilizing the size, shape, color, and functionality of the package. Keeping up with technological developments is a concern for packaging firms. To produce creative package designs like those, suppliers will need to invest in new machinery and infrastructure. With technology, an all-encompassing strategy would be required. Automation will be required at every level of the purchase process. Business leaders may provide their staff with real-time visibility into their supply chain; this would allow businesses to absorb demand changes more quickly. The digitalization of the supply chain will allow the packaging sector to reach its full potential.
Nowadays, consumption is happening on the go. Consumers, retailers, and food manufacturers want fresher, more convenient packaging with a low environmental effect. The electronic industry is rapidly developing, even as digital technology alters packaging. Digital transformation allows businesses to empower employees, engage customers, optimize operations, and transform products. The digitalization of the supply chain will allow the packaging sector to reach its full potential.
Electronic devices are typically fragile, making it more vital for them to be wrapped in a way that protects them from any shocks they may encounter during shipment. Corrugated boxes are known for their structural rigidity and cushioning properties, making them excellent for packing fragile items. Compared to other types of packaging, corrugated packaging has the advantage of having custom corrugated boxes manufactured to meet one's specific company demands.
Foam packaging is appropriate for electronic items that require considerable protection throughout their entire life cycle, from producer to end user, because it provides both cushioning and resiliency. Foam's superior vibration dampening properties enable it to provide superior cushioning protection during the shipping, material handling, and transit processes. Thermoformed polymers, on the other hand, are routinely used in the packaging of electronics but provide a quite different type of protection.
Paperboard packaging is available in a variety of grades, each suited to specific packaging needs. Cosmetics, pharmaceuticals, milk and juice, cosmetics, frozen food, and more can all be packaged with SBS (or solid bleached sulfate) paperboard. Those who like the natural and environmentally friendly aesthetic of recycled paper, which can be utilized for identical packaging applications, should choose kraft or CUK (coated unbleached kraft) paperboard packaging.
Bubble wrap is a translucent, malleable plastic film that is used to pack fragile things. Fragile goods are cushioned by regularly spaced, projecting air-filled hemispheres (bubbles). The bubbles used to cushion fragile or sensitive things come in a variety of sizes, depending on the size of the object being packed as well as the level of cushioning protection required. Shock and vibration isolation may require multiple layers, while a single layer may suffice as a surface protective layer.
Tablets, smartphones, portable speakers, headphones, and e-readers are just a few examples of popular small appliances. Typically, these devices are packed as firmly as possible in boxes using bubble wrap, foam inserts, or tightly wadded kraft paper. It is strongly advised that polystyrene "packing peanuts" or other forms of loose-fill packaging not be used since they generate static electricity and will cause the gadget to slide about. The box is then taped shut, and the inside box is wrapped in additional bubble wrap before being sealed inside another container with two inches or more of cushioning on all sides.
The most frequent products in big electrical appliances include washing machines, dishwashers, heaters, radiators, IT and telecommunications equipment (e.g., PCs, TV sets), and radiators, among others. Vibration sensitivity, tiny parts, and delicate assembly all increase the danger of damage if not adequately packed while shipping and storing electronics. Shock-absorbing foams and other materials that allow secure transit of electronics are excellent for packing such gadgets. Companies that provide packaging solutions provide solutions that may fulfill not just impact resistance criteria but also packing, unpacking, and loading efficiency requirements.
Anti-counterfeiting technology has completely altered the necessity for packaging – the art and science of securing or enclosing things for safe storage, delivery, sale, and use. The act of establishing or confirming anything as genuine is known as authentication. Authentication is critical since the use of counterfeit products, such as pharmaceuticals, can be dangerous to patients' health and well-being. It's possible that using them will lead to treatment failure or even death. Authentication is usually done using the product's overt or covert features.
Brand owners can always track their products with track & trace technology, which also protects units from counterfeiting. Barcoding, which is a cost-effective approach for implementing traceability at both the item and case level, is a common example of track-and-trace. Barcode technology, bar code labels, and RFID technology are some of the track and trace packaging technologies used. RFID and its significance in the supply chain are another technology linked with track-and-trace that may be considered.
When transporting electronic communication equipment such as portable radios, mobile radios, base/ fixed station radios, repeaters, speakers, microphones, and among others, special packaging and environmental considerations are required to minimize the effects of shock, vibration, dust, and extreme temperatures on the equipment during transportation and use.
Pallets (Flat transport structures designed to be moved by a forklift and typically 40" x 48" in dimension), bound by shrink-wrap, are the best way to carry several pieces of big electrical equipment. Computer towers, laptops, monitors, televisions, printers, copiers, facsimile machines, and multi-function devices are examples of large business equipment. When utilizing pallets, one must ensure all products are firmly positioned and shrink-wrapped from the bottom up.
While small appliances do require special care, especially kitchen equipment, which is usually the most difficult—and time-consuming—to pack because in addition to plates, silverware, and glasses, one will also need to pack small appliances such as microwave ovens, coffee- and tea-makers, kettles, toasters, hand mixers, deep fryers, electric knives, vacuum cleaners, hairdryers, electric razors, irons, and so on, they are not exactly difficult. It is preferable to put small appliances in a box that's as near to their real dimensions as possible, which is generally a small to a medium-sized box.
Large household appliances such as refrigerators, commercial freezers, ice machines, air conditioners, heat pumps (water) for swimming pools, washing machines, washing/drying machines, dishwashers, and other similar appliances are sensitive to impact, vibrations, and pressure, as well as climatic stresses. To avoid damage from damp weather (snow, rain), solar radiation, contamination (dust), and theft, household appliance packaging must be in perfect condition (adhesive strips, shrink films, or other sealing means must be intact).
The global electronic goods packaging market has been segmented, on the basis of region, into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
global electronic goods Packaging MARKET, BY region, 2020 (% Share)
Source: MRFR Analysis Industry Expert, Secondary Research, and MRFR Analysis
Europe holds the second position in the global market in terms of revenue. However, the market is expected to exhibit steady growth during the forecast period. This is because Europe has matured the consumer electronic industry, and it is supported by high technology connectivity environment. With the advancing technology, smart offices and smart homes are augmenting the demand for consumer electronics products such as smart TV, smart refrigerator, smart air conditioners, and more. The rising personal disposable income of the consumers and their shift in preferences towards smart homes and smart offices are thus primarily driving the growth of the industry.
Asia-Pacific dominates the market and is expected to exhibit the fastest growth during the projected period. The sales of consumer goods are growing exponentially in this region owing to increased disposable income coupled with the fastest-growing population. The affordability of middle-class families has increased exponentially, augmenting the demand for household electronic appliances. Moreover, business-to-business electronics goods such as computers, laptops, LCD screens, conference projectors, and other goods demand also support market growth.
The market for electronic goods packaging is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players continually competing to gain a larger market share. High competition and rapid advancements in technology are some of the critical factors that could restrain the market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is crucial for vendors to provide cost-effective and efficient products to survive and succeed in a competitive market environment.
The prominent players in the global electronic goods packaging market are DS Smith (London), Sonoco Products Company (US), Mondi PLC (US), Dunapack Packaging (Austria), Stora Enso (Finland), Pregis LLC (US), Graham Packaging Company (US), Sealed Air (US), Georgia-Pacific (US), WestRock (US), International Paper (US), Smurfit Kappa (Ireland), Veritiv Corporation (US), Universal Protective Packaging Inc. (US), Abriso Jiffy (Belgium), Novostrat Ltd (Ireland), Proxital SRL (Italy), EPOLI, and Goldfoam SP. ZO.O (Porto) among others.
The study covers the existing short-term and long-term market effects, helping decision-makers draft short-term and long-term plans for businesses by region. The report covers major regions in North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The report analyzes market drivers, restraints, opportunities, challenges, Porter's Five Forces, and supply chain analysis.
Global Electronic Goods Packaging Market, by Material
Global Electronic Goods Packaging Market, by Product Size
Global Electronic Goods Packaging Market, by Technology
Global Electronic Goods Packaging Market, by Application
Global Electronic Goods Packaging Market, by Region
|Market Size||2027: USD 54,104.3 million|
|Historical Data||2018 & 2019|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Product Size, Technology, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, Middle East & Africa, and South America|
|Key Vendors||DS Smith (London), Sonoco Products Company (US), Mondi PLC (US), Dunapack Packaging (Austria), Stora Enso (Finland), Pregis LLC (US), Graham Packaging Company (US), Sealed Air (US), Georgia-Pacific (US), WestRock (US), International Paper (US), Smurfit Kappa (Ireland), Veritiv Corporation (US), Universal Protective Packaging Inc. (US), Abriso Jiffy (Belgium), Novostrat Ltd (Ireland), Proxital SRL (Italy), EPOLI, and Goldfoam SP. ZO.O (Porto)|
|Key Market Opportunities||• Technological advancement along with rising trends of digitization|
|Key Market Drivers||• Increase in demand for consumer electronics • Boom in the e-commerce retail industry|
Frequently Asked Questions (FAQ) :
The electronic goods packaging market can thrive at 8.1% CAGR by 2027.
The electronic goods packaging market can achieve decent value by 2027.
Pregis LLC (U.S.), Stora Enso (Finland), and Sonoco Products Company (U.S.) are some reputed names in the electronic goods packaging market.
The growing need for foamed plastics can bolster the global electronic goods packaging market expansion.
North America electronic goods packaging market growth can spur due to increase in the adoption of authentication packaging.