E-commerce Packaging Market to reach $58 Bn by 2032, Says Global Market Insights inc.
E-commerce Packaging Industry size is expected to register 5.8% CAGR between 2023 and 2032 propelled by the Increasing value of branding techniques.
Selbyville, Delaware , Sept. 25, 2023 (GLOBE NEWSWIRE) — E-commerce Packaging Market size is projected to be worth USD 58 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
The growing innovations in e-commerce packaging, particularly the incorporation of smart packaging and anti-counterfeiting measures is the major factor driving the market growth. Of late, several business players are completely embracing e-commerce platforms to strengthen their brand appeal by developing efficient and effective packaging solutions. For instance, in July 2022, Reckitt power brand Vanish introduced Vanish Multipower Tabs as the compressed powder version of its core product to offer minimum packaging. Furthermore, the rollout of smart packaging solutions, equipped with sensors, RFID tags or QR codes to render consumers real-time access to vital information about the products will also contribute to the industry growth.
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Protective packaging to gain significant traction
Protective e-commerce packaging market generated substantial revenue in 2022 and is poised to depict robust growth rate from 2023-2032 owing to the surge in e-commerce activities, marked by the increasing rate of online shopping and home deliveries. Protective packaging encompasses bubble wraps, foam packaging, air pillows, and corrugated boxes and is designed to offer enhanced impact resistance. Moreover, the growing efforts by industry players on introducing new solutions to cater to the rising product demands will add to the segment growth. For instance, in July 2023, Ranpak Holdings Corp., a leading manufacturer of paper-based packaging solutions for e-commerce, announced the North American launch of Geami Wrap ‘n GoTM converter for turning environmentally friendly papers into protective packaging for fragile products.
Plastic packaging to witness high demand
Plastic e-commerce packaging market is set to witness considerable growth between 2023 and 2032 owing to increasing adoption to offer versatility, cost-effectiveness, and durability. Plastic packaging offers exceptional protection to products during transit as it reduces the risk of damage and returns. Furthermore, the emergence of recycled plastic packaging is making way for creative and eye-catching designs, helping brands to stand out and reinforce their brand identity, thereby contributing to the market growth. For instance, in February 2023, TotalEnergies collaborated with Ecolab to produce heavy-duty plastic packaging made from recycled materials.
Food & Beverages end-use segment to record substantial growth
The food and beverages segment held significant share of the e-commerce packaging market in 2022 and is expected to foresee steady growth through 2032. The convenience and accessibility of online food and beverage shopping has resulted in the unprecedented surging demand for packaging solutions. The growing consumer interest in easy ordering of groceries and ready-to-eat meals online is also driving the need for efficient and reliable packaging to ensure product freshness and safety. Additionally, the onset of the COVID-19 pandemic and the accelerated trend of online shopping is contributing to the segment growth.
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Asia Pacific to emerge as a pivotal market destination
Asia Pacific e-commerce packaging market is projected to exhibit significant growth during 2023-2032. The rapid expansion of the e-commerce sector across countries, including China, and India has led to the higher demand for packaging solutions. Moreover, the development of efficient logistics networks and last-mile delivery solutions is surging the need for innovative packaging materials, adding to the regional product uptake. For instance, in June 2023, Dow and P&G China collaborated to develop an air capsule e-commerce packaging to provide effective and economical method of protecting items while reducing superfluous packaging and improving recyclability.
E-commerce Packaging Market Participants
The competitive landscape of the e-commerce packaging industry includes prominent companies, such as Alibaba Group, JD, eBay, Walmart, Shopify, Rakuten, Etsy, Best Buy, Target, and Amazon. These firms are strategically embracing sustainable practices, innovative designs, and efficient logistics to meet growing end-user demands for reducing the environmental impacts. To cite an instance, in July 2023, Amazon announced plans to phase out plastic mailer bags as part of its larger push to limit waste, decarbonize, and enhance overall sustainability whilst focusing on package light-weighting and elimination.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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