The global mobile phones packaging market is characterized by the presence of many small players, of which the majority of them are based in Asia Pacific, states a recent research report by Transparency Market Research (TMR). Players within the market are catering to the needs of the global brands which source local packaging materials for mobile phones. … Continue reading Mobile Phones Packaging Market Poised to Expand at 7.4% CAGR During 2020- 2027
Global Mobile Phone Packaging Market Expected to Grow at 7.4% CAGR
The global mobile phones packaging market is characterized by the presence of many small players, of which the majority of them are based in Asia Pacific, states a recent research report by Transparency Market Research (TMR). Players within the market are catering to the needs of the global brands which source local packaging materials for mobile phones. Players within the market are also focused on strengthening their channels by obtaining standard certifications in order to have a competitive edge among others as well as to increase the chances of being preferred by global clients. The global mobile phone packaging market is highly fragmented and the total shares held by the top 20 companies are just 15% of the total market.
According to Transparency Market Research (TMR), the global mobile phones packaging market is anticipated to rise from US$3,715.3 mn in 2016 to US$8,055.1 mn by 2027
On the basis of packaging type, the folding cartons segment holds significant shares on account of the high preference for this packaging for mid-range mobile phones. However, it is anticipated that the rigid boxes segment will hold leading position during the period from 2017 to 2027. Thermoformed blisters will also emerge as a key packaging type in the years to come on account of the increasing investment in bespoke packaging. The growing need for customization and the pressure of offering differentiation will influence the demand for thermoformed blisters mobile phone packaging market. By material type, currently the paperboard segment is leading as it can be recycled and is environmentally sustainable.
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Asia Pacific to Lead while North America to Witness Sluggish Growth
On the basis of geography, it is estimated that Asia Pacific will continue to lead on account of the high growth rate in India and other nations in Southeast Asia. The European market will be driven by countries such as Italy, the U.K, Germany, and Russia and will expand at a 4.1% CAGR during the forecast period from 2017 to 2027. North America, on the other hand is anticipated to witness a sluggish growth during the forecast period.
Growing Realization of Importance of Packaging for Branding and Marketing Purpose Driving Demand
As per the lead author of this report, the global mobile phone packaging market is mainly driven by heightened sales of mobile handsets, charger, USB cables, headphones, manuals, and any other complementary accessories which are offered at the time of mobile handset purchase. In order to support branding objectives, mobile phone manufacturers are increasingly focused on providing the customers with good quality packaging and this will boost the growth of mobile phone packaging market. Mobile phone packaging not only protects the gadget within but also helps in branding and marketing purposes. Thus, an increasing number of mobile phone manufacturers are ensuring that they make use of quality packaging solutions so that their mobile phone and brand stand out in retail stores driving the sales. Players within the market are striving to achieve innovation in terms of design while maintaining a reasonable cost. In recent times, variable data printing (VDP) has risen in popularity. VDP has emerged as a marketing tool which allows packaging information to be personalized as per target customers or an individual customer.
The review presented here is based on the findings of a report by Transparency Market Research, titled “Mobile Phones Packaging Market (Packaging Type – Rigid Boxes, Folding Cartons, Flexible Films, Insert Trays, and Thermoformed Blisters; Material Type – Paperboard, Plastics (Polyethylene terephthalate, Polyvinyl chloride, and Polyethylene), and Molded Fiber; Application – Smart Phones, Feature Phones, and Refurbished Phones) – Global Industry Analysis and Forecast 2017 – 2027.
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