The global retail e-commerce packaging market was valued at $23,987.7 million in 2020, and it is predicted to be worth $74,873.0 million by 2030, growing at a CAGR of 12.1% during 2020–2030. This expansion can be credited mostly to the booming e-commerce business, which is itself a result of the fast-increasing internet usage and changing shopping patterns.
As a result of the pandemic, consumer purchasing habits have shifted. Forced indoors by the lockdowns, consumers all over the world are getting increasingly driven to purchase goods through different online channels, thus resulting in major growth in e-commerce shipping activities and home deliveries. The growth of the e-commerce sector as a whole during these times has been tied closely with that of the food and beverages and healthcare sectors, as many of the associated products are now being bought online.
The retail e-commerce packaging market is divided into boxes, envelopes, and others based on material type. In 2020, the boxes category accounted for the greatest market share. Boxes are in a high demand particularly because product fulfillment centers consider them the safest way to pack things, as they protect them from damage.
The retail e-commerce packaging market is categorized into consumer electronics, fashion and apparel, cosmetics and personal care, food and beverages, furniture and home furnishing, and others, based on end user. Among these, the consumer electronics category accounted for the largest share in 2020. The sales of consumer electronics are majorly driven by the high demand for mobiles, which are nowadays available at a much lower price than a decade ago. Moreover, with the easy availability of a number of classic and modern models at competitive prices on online platforms, the market in this category is projected to grow significantly during the forecast period (2021–2030).
In 2020, Asia-Pacific (APAC) was the world's largest market for retail e-commerce packaging products. The region's growing population and increasing number of internet users, as well as the rising consumer disposable income, are some of the primary reasons fueling the expansion of the e-commerce business and related sectors, such as packaging and logistics. China is one of the key markets in the region owing to the increasing popularity of online shopping due to its convenience, lower product cost than traditional retail outlets, and greater security features.
Players in the global retail e-commerce packaging market are involved in partnerships and collaborations in order to hold a significant position.
For instance, in August 2020, Smurfit Kappa Group Plc announced its partnership with World Wildlife Fund Colombia to enhance forestry conservation efforts, to restore, expand, and protect forests and ecosystems, which are habitats of several endemic species of flora and fauna.
In April 2020, DS Smith Tecnicarton and SIES collaborated to promote employment among people with disabilities in Seville. Specifically, the production plant of the packaging company in the Andalusian province has been hiring the services of this foundation for more than 8 years for the recruitment of factory service assistants.
DS Smith Plc, International Paper Company, Smurfit Kappa Group Plc, Mondi Plc, Packaging Corporation of America, Westrock Company, Klabin S.A., Sealed Air Corporation, and Orora Limited are some of the major players in the industry.