The global retail e-commerce packaging market is projected to touch USD 21,669.7 million at a 5.92% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis.
Retail e-commerce packaging includes products like protective packaging (loose fill peanuts, air pillows, and bubble wraps), labels, tapes, boxes (folding and corrugated cartons), and others. Generally, these products are used as secondary packaging to safeguard the packaged contents against damage at the time of transportation activities. Owing to its alluring features and benefits, it has wide applications in different end use industries such as healthcare and personal care, food and beverages, home furnishing, auto parts, electronics and consumer goods, apparel and accessories, and others.
Various factors are propelling the retail e-commerce packaging market share. As per the recent MRFR report, such factors include on-going rise in online shopping, consumers being spoilt for choice, convenience to shop at the comfort or during the move, free shipping, easy return policies, and fast delivery, demand for packaged food, presence of several online stores varying from non-perishable groceries to specialty packaged foods, increasing use of retail e-commerce packaging, preference for e-commerce shopping due to huge discounts, growing demand for protective, eco-friendly packaging, and increase in retail e-commerce in emerging economies.
On the contrary, demand for less paper & plastic packaging, rise in environmental consciousness, strict government regulations about corrugated packaging, and the impact of the COVID-19 outbreak may limit the global retail e-commerce packaging market growth during the forecast period.
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The retail e-commerce packaging market has been bifurcated based on application and material.
By material, the global retail e-commerce packaging market is segmented into tapes and labels, protective packaging, security envelopes, corrugated boxes, and others. Of these, the protective packaging segment will lead the market over the forecast period as consumers need assurance that their ordered goods are not damaged during delivery.
By application, the global retail e-commerce packaging market is segmented into healthcare and personal care, food and beverages, home furnishing, auto parts, electronics and consumer goods, apparel and accessories, and others. Of these, electronics and consumer goods will dominate the market over the forecast period.
By region, the global retail e-commerce packaging market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, the APAC region will lead the market over the forecast period. The region being the largest e-commerce hub, rapidly expanding middle class in India, Indonesia, and China, the rising popularity of gadgets, mobiles, and other consumer electronics, and rapid expansion in retail e-commerce business are adding to the global retail e-commerce packaging market growth in the region.
The global retail e-commerce packaging market in Europe is predicted to have the second-largest share over the forecast period, in North America is predicted to have sound growth, and in the Rest of the World is likely to have steady growth over the forecast period.
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Industry players have incorporated several strategies to stay at the forefront and also cater to consumers’ burgeoning needs, such as mergers and acquisitions, new product launch and new product development, strategic alliances, partnerships and collaborations, joint ventures, contracts, and much more.
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