The global e-commerce packaging market size was USD 46.50 billion in 2022. The market is anticipated to expand from USD 49.74 billion in 2023 to USD 86.93 billion by 2030, exhibiting a CAGR of 8.3% over the study period.
The surge is driven by the increasing product demand in developing economies due to soaring disposable income. An additional factor fueling industry expansion in these countries is the growing number of smartphone users.
Segmentation:
Paper & Paperboard Segment to Lead, Impelled by Wide Product Usage in Food & Beverage Sector
On the basis of material, the market is subdivided into plastic, glass, paper & paperboard, and others. The paper & paperboard segment holds a dominant share in the market and is set to record notable growth over the projected period. The rise is driven by the extensive use of paperboard for packaging food items such as dry goods, candy, dairy products, beverages, and frozen foods.
Rigid Packaging Segment to Exhibit Fastest Growth, Driven by Soaring Deployment for Carrying Heavyweight Products
On the basis of packaging type, the market is fragmented into rigid and flexible. The rigid packaging segment is slated to grow at the fastest rate over the forecast period. This can be attributed to the growing usage of rigid packaging solutions in carrying heavyweight items such as electronic goods, fruit, wine, appliances, and vegetables.
Food & Beverages Segment Holds Major Share Owing to Rise in Brand Loyalty Programs
On the basis of end-user, the market for e-commerce packaging is subdivided into food & beverages, apparel & accessories, pharmaceuticals, electronics & electricals, personal care & cosmetics, and automotive. The food & beverages segment holds a key share in the global market. The expansion can be credited to an increase in online food delivery and an upsurge in brand loyalty programs.
Based on geography, the market for e-commerce packaging has been analyzed across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage:
The E-commerce packaging market research report gives an in-depth analysis of the major factors driving the market. It further provides an overview of the key trends in the market. Other components of the report include an account of the pivotal steps undertaken by leading companies for consolidating their market positions.
Drivers and Restraints:
Increase in Market Value Owing to Global E-commerce Expansion
The e-commerce packaging market growth is being propelled by the expansion of the e-commerce sector across the globe. This can be credited to the escalating internet penetration in emerging economies. An additional factor fueling industry growth is the expansion of online grocery sales channels across North America, Asia Pacific, and Europe.
However, the lack of e-commerce awareness among the rural population may restrain market expansion to some extent.
Regional Insights:
North America to Hold Prominent Market Share Owing to Rising RTE Product Demand
North America's e-commerce packaging market share is set to lead the global market. This can be attributed to the surging demand for Ready-to-Eat (RTE) products and a rise in research and development activities.
Asia Pacific market is slated to register notable growth over the forecast period. The surge is impelled by the expanding e-commerce sector in the region.
List of Key Players Mentioned in the Report:
- Amcor plc (Switzerland)
- Mondi Group (U.K.)
- International Paper Company (U.S.)
- Smurfit Kappa (Ireland)
- DS Smith (London)
- Klabin S.A (Brazil)
- Georgia-Pacific LLC (U.S.)
- Rengo Co., Ltd. (Japan)
- Orora Packaging Australia Pty Ltd. (Australia)
- Berry Global (U.S.)
- Sealed Air (U.S.)
- Transcontinental Inc. (Canada)
source- https://www.fortunebusinessinsights.com/e-commerce-packaging-market-104885
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