Market Size of E-Commerce Packaging Industry
|2019 - 2029
|Market Size (2024)
|USD 68.87 Billion
|Market Size (2029)
|USD 131.61 Billion
|CAGR (2024 - 2029)
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
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Ecommerce Packaging Market Analysis
The E-Commerce Packaging Market size is estimated at USD 68.87 billion in 2024, and is expected to reach USD 131.61 billion by 2029, growing at a CAGR of 13.83% during the forecast period (2024-2029).
Online spending is rising, the internet and smartphones are becoming more widely used, and the economy is expanding quickly. However, the lack of first-hand product experience prior to purchase and the limited penetration of internet enterprises in rural areas of the world are anticipated to be significant growth inhibitors for the sector. Further, the Russia-Ukraine war had an impact on the overall packaging ecosystem.
- E-commerce websites have become a popular choice among consumers for purchasing goods for various reasons, including at-home delivery, convenience, and easy product searching. The fast global expansion of the e-commerce business has dramatically increased the demand for solid packaging solutions.
- Rising internet penetration and growing access to the internet for most of the population in developing economies across the globe have created tremendous potential market opportunities for e-commerce and packaging providers to venture into untapped markets and gain substantial market share during the process.
- The awareness about plastic waste is growing, and companies focus on minimizing it and offering 100% recyclable and biodegradable products.
- The market increased during the COVID-19 pandemic. Most countries, notably China, the United States, and Germany, established restrictions on the movement of people and goods. However, due to customer demand for necessary commodities such as food, pharmaceuticals, veggies, and other things, the e-commerce industry was exempted from these laws. E-commerce platforms are vital in preventing virus spread by limiting people's movement and providing door-to-door delivery services.
- The lack of understanding of e-commerce platforms among the rural population would hamper the market's expansion. Consumers are becoming increasingly interested in the e-commerce industry, and governments are actively supporting the deployment of innovative approaches to broaden company options. However, the lack of growth in underdeveloped countries restricts the market from tapping into these regions due to fewer demands.