Mobile Phone Packaging Market Growth Accelerated by Rising Smartphone Adoption
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Mobile Phone Packaging Market |
Mobile
phones have become an integral part of everyday lives globally. Apart from
facilitating communication, the latest smartphones come with advanced features
and capabilities like superior memory, high resolution cameras, long battery
life and more. This has fueled the adoption of smartphones at a rapid pace
around the world. Mobile phones need specialized packaging catering to their
protection and branding needs while shipping and storage. Rigid boxes, flexible
films, adhesive liner papers, blister packs and other items provide adequate
safety to phones from damage.
The global Mobile Phone Packaging Market is estimated to be valued at US$ 6.59
Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period
2024 to 2031, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
The growth of the Mobile Phone Packaging Market is augmented by rising adoption
of smartphones globally. As more consumers upgrade to high-end phones with
innovative features, attractive packaging plays a key role in promoting brands
and safe delivery. Sustainable and eco-friendly packaging solutions are gaining
popularity in this market as phones have short replacement cycles. Leading
brands are investing in renewable, reusable and biodegradable materials like
bamboo, recycled paper or plastic to attract conscious buyers and comply with
stringent environmental regulations.
Segment Analysis
The global mobile phone packaging market comprises pouches & boxes, blister
packs, trays, and inserts. Among these, pouches & boxes dominate the market
due to growing popularity of packets that safeguard the device from potential
damage. Pouches & boxes provide effective protection via cushioning against
impact and shocks while handling and transportation. Further, they allow easy
stacking and transportation of multiple mobile phones together.
Key Takeaways
The Global
Mobile Phone Packaging Market Demand is expected to witness high growth
over the forecast period of 2024 to 2031 on account of increasing smartphone
sales. Rapid adoption of technologically advanced smartphones is propelling the
need for effective packaging solutions.
Regional analysis: The Asia Pacific region leads the market and is expected to
maintain its dominance over the next few years. Countries such as China, India,
and South Korea account for significant demand due to presence of leading
smartphone manufacturers and growing consumer base. Rapidly improving living
standards accompanied with falling smartphone prices are driving sales in the
region.
Key players: Key players operating in the mobile phone packaging market are
Xilinx (part of Advanced Micro Devices Inc), Intel Corporation (formerly
Altera), Lattice Semiconductor Corporation, Microchip Technology Inc., Achronix
Semiconductor Corporation, QuickLogic Corporation, Efinix Inc, Microsemi
Corporation (a subsidiary of Microchip Technology Inc.), S2C Inc., Flex Logix
Technologies Inc, Gowin Semiconductor Corp., Synopsys Inc, Tabula (now part of
Mellanox Technologies), Enpirion (a division of Altera, now Intel), Analog
Devices Inc.
For more details on the report, Read- https://www.marketwebjournal.com/mobile-phone-packaging-market-growth-demand-and-overview/
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