Ottawa, July 25, 2023 (GLOBE NEWSWIRE) -- The global E-commerce packaging market size was valued at USD 70.27 billion in 2022. The e-commerce packaging is used to store, transport, and defend the packet's components until they reach the client from the provider. The quality, size, form, and stiffness of the items in such packaging vary based on the product demand and contents. The growing disposable income in emerging nations, e-commerce activities like online retail, and online shopping, and growing demand for personal & cosmetics products like lotions, powder, and other items are the main drivers of the e-commerce packaging industry. Due to its viability and affordability, e-commerce packaging is being used by the food and beverage, consumer electronics, and personal care industries. For instance, lengthier lockdowns in developing nations have encouraged online grocery shopping, bulk purchases of daily necessities, online ordering, and takeout delivery, all of which have contributed to the market's quick expansion throughout the projection period.
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Key Insights:
- Asia Pacific region dominated the market with the largest market share of 46% in 2022.
- North America is estimated to capture the second-largest position in the global market from 2023 to 2032.
- By Product, The corrugated box segment contributed 33% of the revenue share in 2022.
- By Material, The plastic segment is expected to hold the largest market share from 2023 to 2032.
- By Application, The apparels and accessories segment accounted more than 26% of revenue share in 2022.
Regional Insights
The Asia Pacific is expected to dominate the market during the forecast period. One of the e-commerce markets with the fastest growth rates worldwide is Asia-Pacific. E-commerce exports have expanded as a result of expanding consumers in important nations like China and India. As a result, packaging solutions will be more in demand in the region. Moreover, The region's need for e-commerce packaging solutions is being fueled by government initiatives to encourage digitization, which are frequently used to expose people to online modes of commerce. A 100 percent favorable FDI policy in India encourages businesses like Amazon to expand their operations there. For instance, According to IBEF, India's e-commerce revenue would rise at the quickest rate in the world from USD 46.2 billion in 2020 to USD 188 billion in 2025 as a result of rising internet penetration and substantially higher economic performance. Thus, the aforementioned analysis supports the market expansion during the forecast period.
North America is expected to capture a significant market share over the forecast period. The North American E-Commerce Packaging market has a lot of potential due to the existence of capital-intensive E-Commerce Packaging businesses in the region and significant expenditures in new product launches. A positive market outlook will be supported by businesses' targeted marketing initiatives and a positive economic outlook.
Report Highlights
- By application, the electronics and electrical segment is expected to hold a significant market share during the forecast period. The security, communications, and entertainment habits of customers are changing. In 2021, more than 2.14 billion individuals would reportedly purchase online. The market category with the shortest turnover time is consumer electronics. Additionally, monthly highs in consumer electronics adoption and annual shipments are both being reached. Since consumers now trust online retailers to provide high-quality goods and excellent customer service, they are more likely to place numerous orders. Packaging solutions provide durable packaging to withstand damage during handling and shipping. Thus, this is expected to drive the segment growth during the forecast period.
E-Commerce Packaging Market Report Scope:
| Report Coverage | Details |
| Market Size in 2022 | USD 70.23 Billion |
| Market Size in 2023 | USD 82.3 Billion |
| Market Size by 2032 | USD 341.27 Billion |
| Growth Rate from 2023 to 2032 | CAGR of 17.12% |
| Base Year | 2022 |
| Forecast Period | 2023 To 2032 |
| Largest Market | North America |
| Segments Covered | By Product, By Material, By Application, and By Regions |
| Key Players | CCL Industries, Berry Global Group, Inc., WINPAK Ltd., Coveris, Sealed Air, Sonoco Products Company, Amcor Plc. Alpha Packaging, Constantia Flexibles, Greif, Gerresheimer AG, Silver Spur Corp., Mondi, Transcontinental Inc., ALPLA and others. |
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Market Dynamics
Drivers
Growing demand for plastic packaging
The e-commerce sector's rising need for plastic-based packaging is anticipated to fuel the market's expansion over the coming years. This can be understood by the e-commerce industry's heavy reliance on plastic-based packaging. When compared to paper, wood, and corrugated board, this material is readily accessible, inexpensive, lightweight, and extremely reliable. Additionally, the increased sales of supermarket items combined with a doorstep delivery approach boosted the need for plastic-based packaging. Increase market growth as a result of all these variables.
Restraint
Durable & eco-friendly packaging
Businesses must take additional care in the realm of eCommerce to make sure that the packaging is robust and will safeguard the goods. More touchpoints are involved in eCommerce, which implies there are more chances for a product to be harmed. As a result, eCommerce packaging may need stronger packing than conventional packaging, which may need to use more materials. While this might enhance package protection, marketers must consider sustainability and waste minimization. Consumers are placing more value on sustainable packaging, which influences their purchase decisions. Therefore, excessive packaging might put off customers and possibly cause them to choose rival products.
Opportunities
Increasing demand for eco-friendly packaging
It is anticipated that e-commerce's increased demand for eco-friendly packaging will open up new industry prospects. For instance, 'Klabin ForYou,' an online store that will provide paper packaging options and a wide variety of paper-based products in 2019, has been unveiled by Klabin, a major Brazilian paper producer. The new website allows businesses of all sizes to purchase the company's products. They are manufactured from basic resources that are renewable. The need for e-commerce packaging will increase throughout the projection period as a result of such initiatives by big companies.
Related Reports:
- Skincare Packaging Market: The global skincare packaging market is surging, with an overall revenue growth expectation of hundreds of millions of dollars during the forecast period.
- First Aid Kit Packaging Market: The global first aid kit packaging market size was valued at USD 191.2 million in 2022 and is estimated to reach around USD 332.22 million by 2032, growing at a CAGR of 5.68% from 2023 to 2032.
- Plastic Packaging Market: The global plastic packaging market size accounted for USD 412.74 billion in 2022 and is projected to reach around USD 616.26 billion by 2032, growing at a CAGR of 4.09% from 2023 to 2032.
Recent Development
- In November 2022, the Bag-in-Box sustainable Fluids & Liquids packaging and dispensing solutions maker Liquibox, a pioneer, developer, and manufacturer of fresh food, beverage, consumer goods, and industrial end-markets, signed a formal agreement to be acquired by SEE. The Cryovac Fluids & Liquids sector, which is the SEE industry with the highest growth, would benefit greatly from this purchase. Flexible packaging for fluids and liquids represents a $7 billion addressable potential revenue opportunity with a promising 6% estimated annual growth rate.
- In January 2023, one of the biggest corrugated packaging manufacturers in the Benelux nations, De Jong Packaging Group, located in the Netherlands, was acquired by Stora Enson. The acquisition will considerably increase Stora Enso's market share in the European packaging sector and provide the company access to the corrugated packaging markets in the UK, Germany, the Netherlands, and Belgium. With the purchase, Stora Enso's Packaging Solutions division's corrugated packaging capacity would rise by over 1,200 million square meters to more than 2,000 million square meters, including the ongoing expansion projects of De Jong Packaging Group. The full-year 2022 revenues of De Jong Packaging Group are projected to be around EUR 1 billion. Particularly in the areas of fresh produce, e-commerce, and industrial packaging, its product line and geographic reach complement and improve Stora Enso's offering.
Market Segmentation:
By Product
- Protective Packaging
- Poly Bags
- Tapes
- Corrugated Box
- Mailers
- Others
By Material
- Corrugated Board
- Plastic
- Paper And Paperboard
- Woods
By Application
- Food And Beverages
- Apparels And Accessories
- Personal Care
- Household
- Electronics And Electrical
- Pet Food
- Pharmaceutical
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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