The Global E-Commerce Packaging Market Growth Accelerated By Sustainable Packaging Materials
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E-Commerce Packaging Market |
E-commerce packaging refers to
the protective materials used to wrap and deliver e-commerce goods to
consumers. It aims to protect fragile items from damage during shipping and
transportation. Popular e-commerce packaging materials include corrugated
boxes, protective air cushions, paper fillers, molded pulp, and bubble wraps.
E-Commerce has boomed in recent years with more people shopping online from the
convenience of their homes for various goods like clothing, footwear, consumer
electronics and home decor items.
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 to 2030, as highlighted in
a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers for the
growth of the e-commerce packaging market is the increasing online shopping.
E-commerce sales have grown significantly in recent years owing to factors like
convenient shopping from home, doorstep delivery, wide range of products to
choose from, and lucrative discounts and offers especially during seasonal sales.
As online shopping continues to grow globally, the demand for effective and
suitable e-commerce packaging solutions to protect goods during transit is also
rising. Another driver is the availability of innovative and sustainable
packaging materials like recyclable paper cushions and mailers which are
reducing the environmental footprint of e-commerce deliveries. Their
light-weight also helps lower shipping costs.
SWOT Analysis
Strength: The e-commerce
packaging market is witnessing high demand as more consumers are shopping
online. E-commerce packaging solutions provide protection to products and
ensure safe delivery. Further, recyclable and sustainable packaging materials
are gaining popularity in the market.
Weakness: Fluctuations in raw
material prices can increase the overall packaging cost. Further, complex
logistics and supply chain management pose operational challenges.
Opportunity: Growing cross-border
e-commerce offers opportunities for packaging producers to cater to global
demand. There is scope for manufacturers to develop innovative solutions like
smart and interactive packaging.
Threats: Stiff competition among
existing players can squeeze profit margins. Further, stringent government
regulations around plastic waste disposal poses compliance challenges.
Key Takeaways
The Global E-Commerce Packaging
Market Size is expected to witness high growth. The market size is
projected to reach US$ 29.66 billion by 2023 registering a CAGR of 6.2% during
the forecast period.
Regional analysis: Asia Pacific dominates the market and is
expected to grow at the fastest pace. Countries like China, India, and Japan
have witnessed rapid e-commerce adoption. Further, favorable government
initiatives are boosting regional manufacturing capabilities and logistics
infrastructure.
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. The market is highly
competitive with leading players focusing on new product development and
mergers & acquisitions for business expansion.
Get More Insights Here
https://www.newswirestats.com/e-commerce-packaging-market-size-share-growth-outlook-2023/
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