E-commerce Packaging Market Size Poised To Reach USD 235.8 Billion By 2030: Grand View Research Inc.

 San Francisco, 17 March 2023: The Report E-commerce Packaging Market Size, Share & Trends Analysis Report By Product (Poly Bags, Mailers), By Material (Plastics, Corrugated Boards), By Application (Household, Pet Food), By Region, And Segment Forecasts, 2022 - 2030

The global e-commerce packaging market size is expected to reach USD 235.8 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 16.9% over the forecast period. Growing e-commerce retail platforms and technology advancements, such as 5G, and wider geographic internet connectivity are boosting the e-commerce market. Thus, simultaneously driving the demand for convenient and efficient packaging. The introduction of 5G is expected to enhance the consumer experience of online shopping by introducing technologies like Augmented and Virtual Reality (AR/VR). These technologies will provide product display in the enhanced virtual environment; thus, improving consumer experience on product outlook.

According to the research on Shopify, more than half of consumers are willing to shop more if the e-commerce platform is offering an AR experience. The 5G technology is helping to power the growth of the e-commerce industry during the forecast period. The industry is expected to experience splendid growth during the forecast period owing to wider geographic internet connectivity. For instance, a project like starlinks will provide access to areas where connectivity has been a challenge, such as the rural parts of the world. The challenges of the internet in rural or remote parts of the world are contributing to the very limited opportunity for the e-commerce industry growth.

The introduction of wider geographic internet connectivity will create immense opportunities for the e-commerce market in remote parts of the world. However, the growing e-commerce industry is creating a large amount of packaging waste and various environmental concerns. For instance, 3 billion trees are cut every year to produce carton boxes, mailers, fillers, and paper-based packaging. Whereas, less than 20% of plastic packaging produced worldwide undergoes recycling. Thus, the environmental concern over increasing packaging waste is expected to restrain the market growth to some extent.

Key companies operating in the industry are majorly adopting various strategies, such as acquisitions and new product launches, to expand their manufacturing capabilities, product portfolios, and geographical presence. For instance, in July 2022, Coveris launched stretch films, which have 30% recycled content. In May 2022, Berry Global collaborated with Clean Farms & Poly-Ag Recycling to advance Canada’s circular economy. The collaboration was aimed at recovering used agricultural films and grain bag materials to produce new products with recycled content.

Access Research Report of E-commerce Packaging Market @ https://www.grandviewresearch.com/industry-analysis/e-commerce-packaging-market-report

E-commerce Packaging Market Report Highlights

• The corrugated boxes segment is expected to register the fastest CAGR from 2022 to 2030 due to the increasing demand for sustainable packaging, rising trade activities, and growing dependency of customers on the online delivery of goods
• In addition, boxes are affordable and ensure product safety during transportation and handling
• Plasticsaccounted for the highest revenue share in 2021 due to their applicability, easy availability, low weight & costs, and functionality of offering excellent protection against environmental factors (air and water) to the packaged goods
• Apparel & accessories emerged as the dominating product segment in 2021 and will expand further at a steady CAGR from 2022 to 2030
• Asia pacific commanded the largest revenue share in 2021. Owning to increasing penetration of the internet, increasing dependency on e-commerce purchases, and rising disposable income in the region.

List of Key Players of E-commerce Packaging Market

• Amcor Plc.
• Berry Global Group, Inc.
• CCL Industries
• Coveris
• Sealed Air
• Sonoco Products Company
• WINPAK Ltd.
• Alpha Packaging
• Constantia Flexibles
• Mondi
• Gerresheimer AG
• Silver Spur Corp.
• Greif
• Transcontinental Inc.
• ALPLA

Access Press Release of E-commerce Packaging Market @ https://www.grandviewresearch.com/press-release/global-e-commerce-packaging-market