The global 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
E-commerce packaging includes protective packaging solutions used for safe shipping of goods purchased online. Protective packaging provides cushioning and blocking during shipping to prevent damage of products. Common types of e-commerce packaging include protective mailers, air pillows, paper fill, foam materials, corrugated boxes, and other protective shippers. E-commerce packaging aims to minimize waste while providing adequate protection during shipping and delivery. Growth of online shopping and demand for fast delivery has increased the need for effective, sustainable and cost-efficient e-commerce packaging solutions.
Market key trends:
Rise in online shopping is a key driver of increasing demand for e-commerce packaging. Rapid growth of e-retailing platforms globally and shift of consumers towards online shopping channel is fueling the e-commerce packaging market growth. According to statistics, global e-commerce sales grew by over 27% in 2020 compared to previous year and this upward trend is projected to continue over the forecast period. Growing demand for protective, sustainable and cost-effective packaging solutions from e-retailers is prompting manufacturers to invest in new product innovations. Development of recyclable, reusable and biodegradable packaging materials is a notable trend in the market.
Porter’s Analysis
Threat of new entrants: The E-Commerce Packaging Market Size requires high capital investments for setting up production facilities and R&D which acts as a barrier for new players.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitute packaging products and medium brand loyalty of buyers.
Bargaining power of suppliers: A few leading players dominate the supply market resulting in less bargaining power for suppliers.
Threat of new substitutes: The threat of substitutes is low as there are limited substitutes that can provide the protective features of e-commerce packaging.
Competitive rivalry: The market comprises several international players resulting in high competitive rivalry.
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 e-commerce sales globally. E-commerce sector in emerging economies of Asia Pacific is experiencing rapid growth which is expected to drive the regional market.
Regional analysis: Asia Pacific dominates the global market and is expected to maintain its leading position during the forecast period. Countries such as China, Japan, and India have witnessed rising disposable incomes and penetration of internet and smartphones which has boosted online retail sales in the region.
Key players: 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. Mondi Group offers a wide range of e-commerce packaging solutions such as boxes, mailer bags, and wraps. Klabin focuses on producing flexible and rigid packaging for the e-commerce sector.
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