The global e-commerce packaging market size is slated for considerable expansion from USD 48.81 billion in 2021 to USD 140.86 billion in 2028 owing to the rising number of smart phone users across the world, finds Fortune Business Insights in its report, titled “E-Commerce Packaging Market, 2021-2028”, the e-commerce packaging market stood at USD 42.66 billion in 2020. It is set to exhibit a CAGR of 16.3% during the forecast period.
In recent years, there has been an increasing consumer inclination towards buying of several products through e-commerce platforms due to the rising number of smart phone users across the world, which is projected to fuel the growth of this market. Further, the increasing disposable income and change in the standard of living of the people worldwide has resulted in growing demand for e-commerce packaging across several regions of this market.
However, the lack of awareness regarding e-commerce platforms amongst the people in the rural areas is projected to hinder the growth of this market.
The COVID-19 pandemic and the subsequent lockdown restrictions has put a halt to all the industries and businesses across the world. This pandemic has not affected the growth of e-commerce packaging market as most of the people are inclined towards purchasing the essential items online, which is expected to boost this market’s growth. Hence, the COVID-19 pandemic acts as a driving factor for the growth of this market.
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On the basis of type, this market is classified into plastic, corrugated boxes, paper, and others. By application, the market is divided into food and beverage, consumer electronics, personal care and cosmetics, fashion and apparel, and others. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
This research report offers an in-depth study of the driving factors, restraints, and trends related to the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by the leading players to boost their market position.
Increasing Number of Working Population across the World to Fuel the Market
Over the years, there has been a substantial increase in the number of working population across the world due to the rising urbanization rate worldwide. This has led to an increasing consumer inclination towards the use of the internet and other latest technologies by most of the people in order to buy the essential products through various e-commerce websites such as Myntra, Flipkart, and others. Thus, this is a crucial factor driving the growth of this market.
Rising Number of Youth Population to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate the e-commerce packaging market share on account of the increasing number of youth population in the countries such as India and China.
North America region is anticipated to grow at a decent pace in this market due to the rising impact of celebrity and influencer culture in this region.
Strategic Alliances between Key Players to Feed Competition
The leading companies in the e-commerce packaging market are focusing on strategic partnerships with small-scale as well as large-scale companies in order to increase the sale of products through e-commerce platforms. This has resulted in the increasing competition among key companies which will help to expand their businesses and strengthen their market position.
February 2021: For the rapidly growing online beverage and liquids market, Smurfit Kappa has introduced a new line of eBottle packaging solutions. The rollor bottle pack, bipack, and pop-up insert are among the new portfolio’s sustainable solutions for single and multi-pack products.
List of Key Players Covered in E-Commerce Packaging Market Report:
- Amcor plc (Switzerland)
- Mondi Group (UK)
- International Paper Company (U.S.)
- Smurfit Kappa (Ireland)
- DS Smith (UK)
- Klabin S.A. (Brazil)
- Georgia-Pacific LLC (U.S)
- Rengo Co., Ltd. (Japan)
- Orora Packaging Australia Pty Ltd (Australia)
- Nippon Paper Industries Co., Ltd. (Japan)
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