DUBAI, United Arab Emirates, March 03, 2022 (GLOBE NEWSWIRE) -- Recovery in mobile phone sales has raised hopes of a steady revival in packaging activities, according to a latest study by ESOMAR-certified firm, Future Market Insights (FMI). The study estimates a bullish 5.6% CAGR outlook for the Mobile Phone Accessories Packaging market, with sales rising steadily in 2021.
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.
| Mobile Phone Accessories Packaging Market Size (2022) | US$ 3.4 Bn | |
| Projected Market Value (2031) | US$ 5.6 Bn | |
| Global Market Growth Rate (2022-2029) | 5.4% CAGR | |
| Collective Value Share: 3 Countries (2022E) | 37% | |
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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 the 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.
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
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2031 |
| Historical Data Available for | 2015-2021 |
| Market Analysis | USD Million for value and Mn Units for Volume |
| Key Regions Covered | North America, Latin America, Western Europe, Eastern Europe, Asia Pacific ex. Japan (APEJ), Middle East and Africa (MEA), Japan . |
| Key Countries Covered | US, Canada, Germany, U.K., France, Italy, Spain, BENELUX, Poland, Russia, China, Japan, India, ASEAN, Brazil, Mexico, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, South Africa. |
| Key Segments Covered | Packaging type, Material, Application, and Region |
| Key Companies Profiled | • Smurfit Kappa Group • Sonoco Products Company • Dordan Manufacturing Co. • Hip Lik Packaging Products Corp India Private Limited • Panic Plastics, Inc. • Display Pack, Inc • Mister Blister Ltd. • Dongguan Zhongyin Paper Co., Ltd. • Jiajiexing Group Company Limited • Universal Protective Packaging Inc. • All About Packaging, Inc. • Transparent Packaging Inc. • Key Packaging Co. Inc. • Envision packaging Inc. • Kinyi technology limited • Blisterpak Inc. • Leyeah Packaging Design Co., Ltd. • Suzhou Yuanlong Plastic Products Co., Ltd. • Shenzhen Kitly Industry Limited Company • Xinchangyuan Paper Packaging Co |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
Sustainability a Key Focus Area for Mobile Phone Accessory Packaging Companies
Due to the chemical composition of the 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.
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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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Explore FMI’s Extensive ongoing Coverage on Packaging Domain
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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