E-commerce packaging products, which include corrugated boxes, protective packaging, and labels, among others, play a vital role in safe and secure delivery of goods ordered online by consumers. These products are designed to protect fragile and heavier items from damage during transit. With the rising trend of online shopping, demand for specialized e-commerce packaging has increased substantially. Consumers prefer purchases from the comfort of their home, on the go through their mobile phones, laptops, or computers which has boosted sales of various products through e-commerce platforms. The worldwide shift towards contactless purchasing amidst the ongoing pandemic further propelled the growth of the e-commerce sector.
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 key trends:
Sustainable packaging is a key trend gaining traction in the e-commerce packaging market. Changing consumer preferences towards eco-friendly packaging solutions have encouraged market players to introduce sustainable product options. They are focusing on utilizing recyclable, biodegradable, and recycled content in their packaging designs. Manufacturers provide packaging made from renewable and plant-based materials like bamboo, sugar cane and wheat straw as an alternative to plastic. Adoption of sustainable materials help companies strengthen their environmental claims while catering to rising consumer demand for sustainable products and solutions. Innovation in packaging styles made from recycled cardboard or paper that can replace plastic packaging for certain products will further promote the sustainable packaging trend.
Threat of new entrants: The e-commerce packaging market has relatively low threat of new entrants due to high capital requirements and presence of established players.
Bargaining power of buyers: Buyers have moderate bargaining power due to presence of many suppliers offering substitutable goods.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials required are commodity chemicals and there are many suppliers.
Threat of new substitutes: Threat of substitutes is moderate as paper and plastic can be replaced with other sustainable materials to some extent.
Competitive rivalry: The market is competitive with presence of major global players.
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.
The global e-commerce packaging market is expected to witness high growth. Regional analysis comprised The Asia Pacific region dominated the market and is expected to grow at the fastest pace during the forecast period due to increasing e-commerce activities in major economies like China and India.
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.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it