The Asia Pacific Consumer Electronics Packaging Market would witness market growth of 8.6% CAGR during the forecast period (2023-2029).
The demand for consumer electronic devices has increased significantly due to digitalization, accelerated advancements in electronic appliances, an improved standard of living, and rising internet service penetration. However, these gadgets are extremely fragile, necessitating adequate packaging for safe transport and delivery.
Demand for rigid and protective packaging, such as corrugated boxes, bags, blister packs, paperboard boxes, thermoformed containers, clamshells, and cartons, has increased as e-commerce platforms gain popularity. These packaging materials include polyethylene, polypropylene, polyvinyl chloride, polystyrene, paper, and paperboard to safeguard electronic devices from mechanical damage, electrostatic discharge, harsh weather conditions, and corrosion.
In 2017, Singapore's government unveiled a Smart Nation Plan to become a global digital center. The administration is enhancing city life by utilizing Internet of Things solutions. The Smart Cities Mission of the Indian government is founded on a long-term, inclusive development strategy. The mission's objective is to develop a model that will expedite the development of Smart Cities in other regions of the country. In addition, in 2015, the Indian government launched the 100 smart cities initiative. Increasing internet penetration, accelerated smartphone adoption, and the expansion of 5G infrastructure all contribute to the implementation of IoT in smart cities. Similarly, increased government initiatives and expenditure on connecting cities will likely benefit the sector. These factors are anticipated to offer growth opportunities for the regional market.
The China market dominated the Asia Pacific Consumer Electronics Packaging Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $3,057.9 million by 2029. The Japan market is anticipated grow at a CAGR of 7.9% during (2023 - 2029). Additionally, The India market would showcase a CAGR of 9.2% during (2023 - 2029).
Based on Type, the market is segmented into Paperboard Boxes, Corrugated Boxes, Thermoformed Trays, Blister Packs & Clamshells and Others. Based on Material Type, the market is segmented into Paper & Paperboard, Plastic and Others. Based on Application, the market is segmented into Mobile Phones, Computers, TVs, DTH & Set-Top Boxes, Printers, Scanners & Photocopy Machines, Game Consoles & Toys, Music Systems, Electronic Wearables, Camcorders & Cameras and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Consumer Electronics Packaging Market is Projected to reach USD 35.6 Billion by 2029, at a CAGR of 8%
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.
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