The 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 Overview:
E-commerce packaging refers to the materials used to package products ordered through online retail websites or applications. It involves secure packaging of goods to protect them during storage and transit. Popular types of e-commerce packaging include boxes made of cardboard, corrugated fiberboard, plastic mailers, kraft paper bags, protective wrapping made of bubble wraps and air pillows. The growing e-commerce industry relies heavily on efficient packaging solutions to securely deliver products to customers.
Market Dynamics:
The e-commerce packaging market is expected to grow at a rapid pace owing to increasing penetration of the online shopping trend globally. rising disposable incomes and busy lifestyles have encouraged consumers to purchase everyday needs through e-commerce platforms for convenience. This is fueling demand for secure and effective packaging materials that can withstand storage and delivery. Furthermore, innovations in packaging such as smart and interactive packages are gaining traction. Smart packages can provide real-time tracking, temperature control and alerts to ensure product quality. Leading e-tailers are focusing on new packaging solutions to enhance the customer experience and boost sales. However, volatility in raw material prices may slightly hamper market growth over the forecast period.
SWOT Analysis
Strength: The E-Commerce Packaging Market Size benefits from high demand for convenient and safe packaging solutions. Growing e-commerce sales are fueling packaging needs. Manufacturers offer innovative, sustainable packaging designs to attract customers.
Weakness: Frequent design and material changes by manufacturers increase production costs. High R&D investment is needed to develop novel packaging solutions. Supply chain disruptions and raw material price volatility pose challenges.
Opportunity: Rising focus on green packaging creates scope for biodegradable and recycled packaging products. Emerging economies offer vast untapped growth potential. Customized packaging as per product attributes and targeted customers presents opportunities.
Threats: Stiff competition from local players impacts margins. Stricter environmental regulations around plastic usage may limit product options. Online giants developing in-house packaging capabilities threaten existing vendors.
Key Takeaways
The global e-commerce packaging market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing online shopping activities. The market size for 2023 is US$ 29.66 Bn.
Regional analysis: Asia Pacific dominates the global market with over 35% share due to thriving e-commerce sectors in China, India. China, India, Japan, and Southeast Asia are key emerging markets exhibiting over 10% CAGR. North America and Europe are other major regions owing to established retail industries and widespread internet access.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it