Albany, NY -- (SBWIRE) -- 09/27/2017 -- Global Mobile Phones Packaging Market: Snapshot
In a highly fragmented global mobile phones packaging market, top twenty players hold a scanty approximately 20% share of the market. These companies are focusing hard on mergers and acquisitions and capacity expansion in order to maintain their foothold in the market. The market features dominance of small players, the majority of which are concentrated in Asia Pacific.
The primary growth driver of the global mobile phones packaging market is the packaging needs of mobile handsets, charger, USB cables, headphones, manual, and other complimentary accessories that are provided at the time of purchase of mobile phones.
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Another key factor driving the market is the increasing use of mobile phones packaging by cell phone manufacturers to support branding objectives. To cater to this, packaging companies are compelled to deliver packaging solutions that help their clients' mobile brand stand out on retail shelves.
As per estimates by a report by Transparency Market Research, the global mobile phones packaging market is predicted to display a CAGR of 7.4% between 2017 and 2027. At this pace, the market is expected to become worth US$8,055.1 mn by 2027 from a valuation of US$3,715.3 mn in 2016.
Paperboard to Remain Attractive Material Type Segment
The segments into which the global mobile phones packaging market is divided based upon packaging type are rigid boxes, folding cartons, flexible films, insert trays, thermoformed blisters, and other mobile phone packaging products. Of them, folding cartons are expected to continue to be significant backed by the continued preference for mid-range mobile phones. However, the segment of rigid boxes is predicted to hold on to its dominant position over the forecast period between 2017 and 2027. On the other hand, thermoformed blisters is expected to emerge as a key packaging type segment in the upcoming years. High investments for bespoke packaging, driven by the need to offer differentiation and customization is having a positive bearing on the thermoformed blisters type segment.
On the basis of material type, the market is segmented into paperboard, plastics, and molded fiber. The plastic segment can be further segmented into polyethylene terephthalate, poly vinyl chloride, polyethylene, and other plastics. At present, paperboard segment leads the global mobile phones packaging market. This is mainly because paperboard can be recycled that not only provides recycling opportunities to manufacturers of mobile phone packaging but is environmentally sustainable as well. Thermoformed blisters are the material of choice of cell phone manufacturers that are looking for innovative ways to stand out on retail shelves.
However, plastic based packaging is expected to rise at a below average CAGR of 3.9% between 2017 and 2027. This is mainly due to limited scope of applications of plastic based packaging.
In terms of application, the key segments of the mobile phones packaging market include smart phones, feature phones, refurbished phones, and other specialty phones.
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High Concentration of Market Players Makes Asia Pacific Leader
The segments of the global mobile phones packaging market based on geography are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific. Asia Pacific, among all, is the leading region holding 30.3% share of the overall market. The region is expected to gain further in the upcoming years on account of high growth rate in India and other countries in South East Asia.
North America mobile phones packaging market is expected to display sluggish growth over the forecast period. The Europe market for mobile phones packaging, driven by Germany, U.K., Italy, and Russia, is expected to rise at a CAGR of 4.1% between 2017 and 2027.
Some of the leading companies in the global mobile phones packaging market are Pragati Pack (India) Pvt. Ltd., Any Graphics Private Limited, Plastic Ingenuity Inc., UFP Technologies Inc., Cellpaks Solutions Ltd., Hip Lik Packaging Products Pvt. Ltd., Koohing International Development Limited, Dongguan City Luheng Papers Company Ltd., and Guangzhou Junye Packaging Co. Ltd.