February 25, 2024

Increasing demand for sustainable packaging design strategies to boost the growth of Mobile Phone Packaging Market

The global Mobile Phone Packaging Market is estimated to be valued at US$ 5.72 Bn in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Mobile phone packaging refers to protective packaging solutions utilized for shipping mobile phones. Mobile phones require protection from mechanical shocks, electrostatic discharge, and other potential damages. Effective mobile phone packaging helps extend the life of mobile phones and offers a good customer experience. Various types of materials used in mobile phone packaging include plastic, paperboard, and corrugated board to provide protection and convenience in shipping, presenting, gifting, and retailing of mobile phones. Mobile phone packaging plays a vital role in branding and marketing of mobile phones for manufacturers.

Market key trends:

One of the key trends gaining traction in the mobile phone packaging market is increasing focus of manufacturers on adopting sustainable packaging design and materials. Mobile phone manufacturers are under pressure to reduce plastic usage and opt for eco-friendly alternatives in order to meet sustainability goals. Many players are focusing on using recycled content, recyclable materials, and zero-waste production processes. For example, Apple launched its iPhone packaging with 100% recycled content for paper elements and eliminated plastic wrapping. Similarly, Samsung has also unveiled plans to phase out plastics and utilize more sustainable materials across its mobile packaging portfolio. Growing environmental regulations regarding plastic waste are further propelling the demand for sustainable mobile phone packaging solutions.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the mobile phone packaging market is moderate. Capital requirement for setting up packaging manufacturing units is high. Brand loyalty and infrastructure requirements also pose challenges to new players.

Bargaining power of buyers: The bargaining power of buyers is moderate.Buyers have moderate bargaining power as mobile phone packaging is not a customized product and there are many established players in the market. However, large smartphone manufacturers can negotiate on price and demand innovative packaging solutions.

Bargaining power of suppliers: The bargaining power of suppliers is low. Raw material suppliers have low bargaining power due to availability of substitute materials and less differentiation in materials. Suppliers are dependent on manufacturers for their business.

Threat of new substitutes: The threat of substitutes is low. While paper bags can be used as an alternative to boxes, they do not provide the same level of protection as boxes during transportation and storage. No direct substitutes are available for mobile phone packaging.

Competitive rivalry: The competition in the market is high due to presence of numerous packaging manufacturers globally. Players compete based on price, quality, innovation, and packaging material used.

Key Takeaways

The global Mobile Phone Packaging market growth is expected to witness high exhibiting CAGR of 7.0% over the forecast period, due to increasing adoption of smartphones across the globe. Asia Pacific dominates the market holding around 45% share of global volume due to strong presence of smartphone manufacturers and availability of affordable devices in countries like China and India.

Regional analysis
Asia Pacific is projected to dominate the global market during the forecast period. China, India, Japan and South Korea are the major markets in the region. Availability of affordable smartphones and growing middle-class population are fueling the regional market growth. The region is home to leading smartphone brands like Xiaomi, OPPO, Vivo, Samsung, and Huawei.

Key players
Key players operating in the mobile phone packaging market are Amcor plc, Berry Global Inc., DS Smith Plc, Mondi Group, Sonoco Products Company, Sealed Air Corporation, Stora Enso Oyj, Winpak Ltd., Constantia Flexibles Group GmbH, and Huhtamaki Oyj. Amcor plc and Berry Global Inc. hold prominent market shares due to their diversified product portfolio and strong distribution network across regions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it