Global Retail E-Commerce Packaging Industry Growth Is Driven By Growing Demand For Several Products: Ken Research
Packaging is important to close the sales, distribution and storage products. Ecommerce packaging entails of both primary and secondary packaging. The materials utilized in packaging are durable. The penetration of the eCommerce industry is growing the requirement for packaging. The improved shopping experience on the site is the foremost reason for packaged products. Particularly, protective packaging has more implication these days. These packages can tolerate shock, vibration, environmental aspects and many more.
According to the report analysis, ‘Retail E-Commerce Packaging Market: Current Analysis and Forecast (2021-2027)’ states that the global retail e-commerce packaging market is predicted to account a CAGR of around xx% over the duration of 2021-2027. The growth of this market can be accredited to the growing population coupled with continuously growing online shopping. For instance, during 2010, there were nearly xx Bn individuals living on this planet the number augmented to around xx Bn in ten years hence the requirement for most products augmented significantly. Moreover, advancements in the e-commerce and electronics industry functioned as a catalyst in growing the demand for numerous products such as electronic goods, healthcare products, personal care products, and several other types of products.
In addition, according to UNCTAD, the share of online retail sales in total retail sales raised up from 16% during 2019 to 19% during 2020. The inclination toward online retail owing to speedy growth in the electronics industry and growing disposable income are further going to propel the growth of the retail e-commerce packaging market.
Based on material type, the market is categorized into the corrugated board, paper, plastic, and others. Amongst these, the corrugated board segment registered for a proficient share of the market and is projected to grow with a robust growth rate during the review period. Corrugated boards are among the safest choice for providing a product without significantly growing the cost of packaging. Thereby, online retailers favored corrugated board-based packaging to decrease the package return rate owing to damaged products and simultaneously maintain a decent profit margin.
Based on application, the market is classified into electronics, personal care, healthcare, food and beverages, apparel and fashion, and several others. The electronics segment is predicted to observe substantial growth during the review period. The electronics segment is increasing rapidly mainly owing to the requirement for useful and new technologies, short replacement cycles, and the dropping prices of numerous electronic devices. Furthermore, growing disposable income is playing a foremost role in the growth of the electronics segment.
Asia-Pacific is projected to show robust growth in the retail e-commerce packaging market. The increment in internet penetration rate in emerging economies, as well as the growing disposable income, has underwritten to the growth of the e-commerce market around the region. China and India are the home to nearly 2.8 Bn individuals and they are the two having the wildest growth rate. This results in augmented household income and the growth of the e-commerce market depend profoundly on the income of individuals. This means the e-commerce market is increasing speedily in the APAC region. Hence delivering an enormous market for the retail e-commerce packaging market players.
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Global Retail E-Commerce Packaging Market
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