The Europe Consumer Electronics Packaging Market would witness market growth of 7.8% CAGR during the forecast period (2023-2029).
The expansion of the market is fueled by the growing need for paper and paperboard in packaging. Paper and paperboard are typically utilized in packaging due to their biodegradability and eco-friendliness. This can help reduce shipping costs for used electronics. In this market, product innovation is a trend that is acquiring popularity.
Major companies in the market are utilizing new and innovative products to increase their productivity and efficiency. For instance, companies are introducing intelligent packaging solutions to improve operational efficiency. This approach uses artificial intelligence (AI) to calculate the least amount of packaging required to keep products contained while lowering costs and CO2 emissions. With this development, everything that can be packed will be done so, whether it be a little item like a tool or piece of electrical equipment or a large item like a bicycle.
Europe has a well-established base of modest and medium-sized businesses in the medical technology industry. The United Kingdom is home to numerous headquarters and subsidiaries of multinational corporations, including those of prominent American manufacturers of medical technology. In addition, the region is experiencing increased demand for ubiquitous skin adhesives, such as health monitoring devices, analytical devices, and clinical efficiency tools. As a result of the increasing demand for wearable devices and the favorable attitude of the healthcare sector toward adopting the latest technologies, the demand for consumer electronic packaging is anticipated to increase, as will the need for safely packaging such devices, which is anticipated to fuel the market growth in Europe.
The Germany market dominated the Europe Consumer Electronics Packaging Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,375.7 million by 2029. The UK market is poised to grow at a CAGR of 6.9% during (2023 - 2029). Additionally, The France market would witness a CAGR of 8.6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
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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