What Novel Economy Models are being adopted by Companies in Retail E-Commerce Packaging Market?


Posted October 14, 2020 by manishbaghel

The retail e-commerce packaging market is expected to generate a revenue of $68,388.1 million by 2030, increasing from $19,022.7 million in 2019, progressing at a 12.1% CAGR during the forecast period (2020–2030).
 
The customer purchasing behavior has changed radically over the past few years. With the emergence of hassle-free home delivery and a wide range of products on e-commerce platforms, the penchant for online shopping has increased considerably all over the globe. Moreover, the increasing disposable income and growing penetration of internet have also made things easy for people, owing to which, they are widely shifting from retail stores to online channel, thereby leading to the growth of the global e-commerce industry.


All these factors, in turn, are also driving the growth of the global retail e-commerce packaging market. Packaging is one the most prominent parts of the e-commerce industry, since without proper packaging, the products cannot be delivered to consumers in their best condition. Moreover, people these days are ordering both consumable and non-consumable products via online channels, which is why, the companies need to make sure that any kind of product is being delivered to the customers without any damage.


The companies in the domain are further making changes and are investing in manufacturing facilities for reducing the amount of waste, which is generated by corrugated sheets, and for increasing their production efficiency. Further, the pressure on the industry for reducing pollution is incredibly high, which is further compelling companies to focus on alternate ways for producing packaging materials. Some companies have already started complying and are manufacturing compostable, recyclable, and reusable products.


The retail e-commerce packaging market is expected to generate a revenue of $68,388.1 million by 2030, increasing from $19,022.7 million in 2019, progressing at a 12.1% CAGR during the forecast period (2020–2030). When material type is taken into consideration, the market is divided into envelopes and boxes, between which, the boxes division held the larger share of the market in 2019. The division is further predicted to dominate the market during the forecast period, as companies go for packaging that can protect the contents.


Get a sample copy of the market analysis at: https://www.psmarketresearch.com/market-analysis/retail-e-commerce-packaging-market-analysis/report-sample


On the basis of end user, the market is categorized into furniture and home furnishing, food and beverages, cosmetics and personal care, fashion and apparel, and consumer electronics. Among these, the cosmetic & personal care industry is projected to register the highest CAGR during the forecast period, primarily because of the increasing disposable income. As digital platforms offer a wide variety of products, customers usually prefer to buy cosmetic products from these platforms rather than physical stores.


As per a report by P&S Intelligence, the Asia-Pacific (APAC) region dominated the retail e-commerce packaging market during the historical period (2014–2019). The expanding e-commerce industry in China and India are leading to the growth of the regional domain. Additionally, the surging population and rising adoption of advanced technologies in APAC are leading to the growth of the market. Middle East & Africa is expected to grow at the fastest pace during the forecast period, owing to expanding international trade.


Hence, the market is growing due to the growing preference of online shopping and rising burden on companies to reduce pollution.
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Issued By Manish Kumar
Business Address Noida
Country India
Categories Business , Industry , Research
Tags retail ecommerce packaging market , retail ecommerce packaging market demand , retail ecommerce packaging market future , retail ecommerce packaging market growth , retail ecommerce packaging market overview , retail ecommerce packaging market scope , retail ecommerce packaging market share , retail ecommerce packaging market size
Last Updated October 14, 2020