Paragraph: E-commerce packaging refers to packaging solutions developed for safe handling and transportation of products ordered online. It protects the product from any damage during shipping and retains product quality. With the growing trend of online shopping owing to ease and convenience offered, there is an increasing demand for effective e-commerce packaging solutions.
The global E-Commerce Packaging Market is estimated to be valued at US$ 29.66 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increased online shopping has accelerated the growth of the e-commerce packaging market over the past few years. According to studies, the percentage of total retail sales through online channels has increased significantly in many countries. This can largely be attributed to factors such as enhanced online shopping experience through improved websites and apps, quick doorstep deliveries offered by vendors and rise in number of internet and smartphone users globally. The growth in online shopping has resulted in enormous surge in demand for effective and sustainable e-commerce packaging solutions, thereby driving market growth. Material innovation and development of eco-friendly packaging are also key trends in this market.
Segment Analysis
The global e-commerce packaging market is dominated by corrugated boxes segment. Corrugated boxes is the preferred mode of packaging for shipping products as it is strong, reusable, recyclable and cost-effective. It protects products from damage during transportation through supply chain networks till it reaches end customers. Furthermore, corrugated boxes can be customized as per the product dimensions that fits snugly and prevent product movement. This reduces breakage and improves supply chain efficiency.
Key Takeaways
The global e-commerce packaging market is expected to witness high growth over the forecast period of 2023 to 2030 on account of increasing e-commerce sales worldwide. The Asia Pacific region is projected to be the fastest growing market for e-commerce packaging during the forecast period. Countries like China and India have emerged as major e-commerce markets due to rising internet and smartphone penetration with growing middle-class population which favors the market growth.
Regional analysis:
The global E-Commerce Packaging Market is estimated to be valued at US$ 29.66 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023-2030.
The Asia Pacific region held the largest share of the global e-commerce packaging market in 2023 and is expected to maintain its leading position over the forecast period. China accounted for over half of the region's market share owing to the high volume of e-commerce transactions. Other emerging economies including India, Indonesia, and Vietnam are also expected to offer lucrative opportunities for market participants in Asia Pacific due to rising disposable incomes and growth of domestic e-commerce retailers.
Key players:
Key players operating in the e-commerce packaging market are Amcor plc, Mondi Group, International Paper Company, Smurfit Kappa, DS Smith, Klabin S.A., Georgia-Pacific LLC, Rengo Co., Ltd., Orora Packaging Australia Pty Ltd, and Nippon Paper Industries Co., Ltd. Amcor plc offers a wide range of e-commerce packaging solutions such as mailer bags, padded mailers, bubble mailers and boxes to suit various customer applications under its ‘Amcor Protect’ brand.
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