Pune, India, January 2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Retail E-commerce Packaging Market.
E-commerce packaging primarily refers to packaging provided to products that have been sold online. E-commerce has been growing at a rapid rate over the past few years, and the rapid growth of the e-commerce market is expected to have a significant impact on the demand for e-commerce packaging. Market Research Future has produced a new report on the global retail e-commerce packaging market which is expected to grow at a considerable rate during the forecast period from 2018 to 2023. The global retail e-commerce packaging market is set to grow at a CAGR of 5.92% and appreciate to reach a market value of USD 21,669.7 by the end of 2023.
The ongoing increase in online shopping is a huge driver of growth for the global retail e-commerce market. Setting up an online store is easy, and there are vast numbers of retail e-commerce websites on the internet. Likewise, consumers are spoilt for choice and can have most products at their convenience from the comfort of home or even on the move. Fast delivery, easy return policies and free shipping offers have driven the adoption of retail e-commerce over traditional shopping methods. Amazon, for example, has become a market giant due to its vast product offering as well as various other options such as prime delivery, prime now, and several others. The growing demand for packaged food and the presence of online stores ranging from specialty packaged foods to non-perishable groceries can be purchased online and delivered to the consumer's doorstep, thus driving retail e-commerce packaging. Additionally, several products are often cheaper to buy online than from a store, making e-commerce the preferred shopping method and increases the use of retail e-commerce packaging.
Stringent government regulations regarding corrugated packaging, as well as the demand for less paper and plastic packaging in an increasingly environmentally conscious global environment, is expected to restain market growth. However, the market is rife with opportunities due to the rise in retail e-commerce in emerging economies as well and the rising demand for eco-friendly, protective packaging.
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Segmental study of the global retail e-commerce packaging market has been segmented on the basis of material, application, and region. Material has been segmented into corrugated boxes, security envelopes, protective packaging, tapes & labels, and others. Consumers often want to ensure that their ordered item does not become damaged in the process of delivery. As a result, the protective packaging segment accounts for a market share of 34.80% and is projected to grow at the highest CAGR.
Application has been segmented to include apparel & accessories, electronics & consumer goods, auto parts, home furnishing, food & beverages, healthcare & personal care, and others. Electronics & consumer goods are among the most packaged retail e-commerce items. Moreover, online offers for smartphones and other electronics can often beat those found in traditional stores.
The Asia Pacific has secured the position of the world's largest e-commerce hub. The region has a rapidly expanding middle class in China, Indonesia, and India. The increasing popularity of mobiles, gadgets and several consumer electronics have driven e-commerce sales and by extension drive the demand for retail e-commerce packaging. China, alone accounts for 40% of the world's e-commerce sale, making the APAC a truly significant region in the global retail e-commerce packaging market.
Georgia-Pacific LLC, Mondi Group, DS Smith Plc, Klabin S.A., Smurfit Kappa Group, Nippon Paper Industries Co. Ltd., Packaging Corporation of America, Orora Packaging Australia Pty Ltd., International Paper Company, and Rengo Co. Ltd are among the prominent market leaders that have been included in MRFR's competitive tracking of the global retail e-commerce packaging market.