Global Mobile Phone Accessories Packaging Market to Reach US$ 5.1 Billion by 2034, Fueled by Demand for Lightweight and Sustainable Solutions

Future Market Insights (FMI) has released a revamped report on the global mobile phone accessories packaging ecosystem, highlighting various opportunities and growth prospects for the coming decade. The market is set to account for a current valuation of US$ 3.6 billion in 2024, with demand driven by consumers’ expectations for simpler labels and sustainable packaging solutions.

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Key Market Trends:

• Simpler Labels with Understandable Ingredients: Reflecting on consumers’ expectations, mobile phone accessories packaging producers are focusing on simpler labels with understandable ingredients. This trend reinforces continuous demand for mobile phone accessories packaging solutions.
• Lightweight Packaging Solutions: Manufacturers in the smartphone industry are increasingly adopting lightweight mono-material folding cartons and plastic clear-view boxes for packaging cell phones, accessories, and adapters. These lightweight and attractive packaging options offer higher profitability margins and cost-efficiency, driving market growth.
• Demand for Bio-plastics: The heightened need for bioplastics across the packaging industry is anticipated as a sustainable move for the future. Bio-based plastic materials, such as PLA and PHA, are increasingly substituting petroleum-based plastics, with leading companies investing in research to gain a competitive advantage.

Market Drivers:

1. Cost-Efficiency and Profitability Margins: The robust use of lightweight and attractive packaging options offers higher profitability margins and cost-efficiency, driving demand for mobile phone accessories packaging solutions.
2. Sustainability Initiatives: The growing demand for bioplastics and sustainable packaging solutions reflects industry initiatives towards environmental sustainability, contributing to market growth.

Key Takeaways

• High demand for clear view boxes being witnessed in all major markets
• PET to remain highly sought-after material for mobile phone accessories packaging manufacturers
• Asia Pacific ex. Japan is expected to remain in the leading position with nearly 50% of the market share
• US will be the second largest market, holding over 83% market share in this region
• Germany to remain the epicentre in Western Europe, accounting for significant packaging sales and exports
• The United Kingdom, Canada, China, Japan, France, and a few other countries to remain lucrative throughout the forecast period

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Sustainability a Key Focus Area for Mobile Phone Accessory Packaging Companies
Due to the chemical composition of the flexible packaging materials, there are a number of advantages over conventional packaging materials. The flexible packaging formats in the mobile phone accessories packaging market are pouches & bags, blister packs, and others. The major advantage is that these formats follow sustainability checks. Also, this format has high demand owing to the requirement of less raw material, reduced energy consumption, relatively low waste production, and low carbon footprint.

By reducing the amount of hazardous materials used in packaging, the manufacturers are fulfilling the criteria for environment-friendly products which in turn is fuelling the sales. Globally, governments are focusing on framing strict policies regarding recyclability and reusability of plastic materials.

For instance, as per the Federal Packaging Regulations in the United States, environment-friendly and safe packaging materials are required in manufacturing of packaging for consumer goods. Imposition of such laws are expected to bolster the demand for mobile phone accessories packaging in near future.

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Who is winning?
The global mobile phone accessories packaging market offers highly competitive environment to its key players. In order to secure their positions in the cut-throat competition, the key players such as Smurfit Kappa Group, Sonoco Products Company, Dordan Manufacturing Co., Hip Lik Packaging Products Corp India Private Limited, Panic Plastics, Inc., Display Pack, Inc., and others are focusing on launching higher quality products with lesser cost while the Tier 3 players hold 65%-75% of the global market share. Some of the new launches by the key players are-

• Display Pack, Inc. launched its new range of mobile phone accessories packaging solutions such as Display Box 78-38 Series, Display Box 66-38 Series, Display Box 57-29 Series, and others in 2019
• Sonoco Products Company launched its new extensive range of mobile phone accessories packaging solutions such as Sonoco Flexible Packaging Solutions, Sonoco Point of Purchase Displays, and others in 2018

 Key Segments Covered in Mobile Phone Accessories Packaging Industry Research

Packaging Type:

• Folding Cartons
• Clear View Boxes
• Pouches & Bags
• Clamshells
• Blister Packs
• Trays

Material:

• Plastic
  • PE
  • PET
  • PVC
  • Others (Polystyrene)
• Paper & Paperboard

Application:

• Headsets
• Chargers
• Protective Covers
• Screen Protectors
• Power Banks
• Batteries
• Portable Speakers
• Memory Cards
• Others (VR, Cables)

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific ex. Japan (APEJ)
• Middle East and Africa (MEA)
• Japan

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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