Global E-Commerce Packaging Market - Segmented by Material (Plastics, Corrugated Board, Glass), End-user (Food & Beverages, Consumer Electronics, Retail), and Region - Growth, Trends, and Forecast (2018 - 2023)
The e-commerce packaging market is expected to register a CAGR of 14.59%, during the forecast period 2018 - 2023.
E-commerce has emerged as a prominent choice for purchasing goods since, the turn of the century. The market for e-commerce goods has evolved drastically during the last decade, with the volume of total shipments rising over 30% during the period, 2014 to 2016, the demand for e-commerce packaging solutions has grown consequently, and the demand is expected to sustain during the forecast period. Rising internet penetration and growing access to internet for a majority of the population in the developing economies of APAC has created huge potential market opportunities for the e-commerce and packaging providers to venture into untapped markets and gain substantial market share during the process.
Increasing Consumer Interest Towards Convenient Shopping Solutions
E-Commerce has gained considerable interest among the majority of the consumer base, owing to its ease of access and the convenience factor for the consumers, by delivering a seamless experience, which has driven the rise in sales through the platform significantly for the developed and developing economies alike. E-commerce sales have been rising in share among the overall retail sales across the globe, with consumer electronics being a major factor augmenting the growth of the e-commerce distribution channel as a viable alternative to conventional brick & mortar stores.
This robust demand for e-commerce sales is expected to drive the market for e-commerce packaging, as packaging plays a crucial role in safeguarding the sanctity of the product within. Another prominent trend in the industry has been the demand for sustainable packaging solutions across the value chain, with manufacturers and customers growing increasingly sensitive about the environmental concerns.
Asia-Pacific Set to Sustain its Dominance during the Forecast Period
Asia-Pacific is estimated to be the largest market for e-commerce packaging, primarily due to the presence of a large population and robust internet penetration rates within the countries in the region. High volume of e-commerce sales have been found to be concentrated in China, with the country influencing a rise in e-commerce by over 28% in FY2017 as compared to the previous year. The presence of major e-commerce giants, such as Alibaba Group, Amazon, Tenecent, and Flipkart in the region are the other major factors expected to drive the growing demand for packaging solutions in the e-commerce sector in the region.
Key Developments in the Market
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