The Latin America, Middle East and Africa Consumer Electronics Packaging Market would witness market growth of 10.9% CAGR during the forecast period (2023-2029).
The Internet of Things (IoT) industry is expanding due to increasing digitization, which increases the demand for effective all-weather packaging for consumer electronics products. In addition, fragile electronic devices such as network servers, routers, and sensors increase demand in IoT networks. These items require efficient protection against all types of weather. The growing use of smart computing devices and mobile phones, including e-readers, tablets, smartphones, and laptops across developing and underdeveloped economies, is boosting the demand for consumer electronics packaging.
Changing consumer purchasing habits, such as purchasing consumer electronics in supermarkets, are driving the expansion of innovative packaging items. As a result of this altering purchasing pattern, consumers' operating administrative expenses have decreased, thereby increasing the need for consumer electronics packaging. The demand for single-material, eco-friendly, and easy-to-use consumer electronics packaging is also anticipated to contribute to the market's growth.
Brazil's smartest and most connected city has been named Curitiba. Additionally, Curitiba was the forerunner of the first Bus Rapid Transit (BRT) system, a network of bus routes that completely changed how city inhabitants commuted, in 1974. In addition, the city provides free Internet connection in public areas. Initiatives, including Fab Labs, urban farms, city navigation apps, and innovation clusters, are underway in Curitiba. In order to build an inventive environment that supports intelligent solutions in line with the Sustainable Development Goals, Curitiba is supporting a smart city movement. The rise of the market, which safeguards and assembles the product's components, is projected to be aided by these regional efforts to create smart cities.
The Brazil market dominated the LAMEA Consumer Electronics Packaging Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $705.8 million by 2029. The Argentina market is experiencing a CAGR of 11.5% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 10.6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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