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Retail E-commerce Packaging Market is predicted to grow approximately at 5.92% CAGR by 2022
Market research future published a cooked research report on Global Retail E-commerce Packaging Market / The global retail e-commerce packaging market is expected to grow around 5.92% CAGR during the period 2016 to 2022(PresseBox) ( Hadapsar, Pune, India, )
The global retail e-commerce packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of the retail e-commerce packaging market is influenced by the increase in online shopping, growing demand of packaged food, and rapid growth in electronic sector. Government regulations for corrugated packaging and the rising concern for environment safety hinder the growth of the global retail e-commerce packaging market.
The continuous increase in the online shopping market is fuelling the overall growth of the retail e-commerce packaging market. The ease of online shopping such as faster delivery, easier return policies, and free shipping, have made many customers switch from the traditional method of shopping. Amazon (U.S.) is leading the market with a total revenue of USD 107,006 million, as compared to eBay (U.S.) with total revenue of USD 8,592 million in 2015.
The packaged food market is expected to grow due to the rise in demand for packaged foods & beverages, and frozen foods. The increase in consumer income in countries such as China, India, and Brazil, has led to a growth in demand for good-quality packaged food. Also, the rise in population in many countries, has led to an increase in food & beverage consumption, ultimately leading to the increase in packaged food products.
Consumer electronics is the top selling category in e-commerce, today due to increase in the number of online electronics models. The electronic sector is continuously evolving with new developments. According to REED Electronic Research, a leading market information provider on the global electronics industry, in 2015, China has accounted for 38% of electronics equipment production in the global market. This has induced the growth of e-commerce packaging market.
The retail e-commerce packaging market has been segmented based on material, and application. On the basis of material, Protective packaging accounted for the largest market share of 34.80% in 2015, and is projected to grow at the highest CAGR. Protective packaging is used to protect the goods from vibration or shock damage, atmospheric factors, transit & handling hazards etc. Based on application, electronics & consumer goods segment dominate the global retail e-commerce packaging market, and is projected to grow at the highest CAGR during the forecast period. The consumer electronics is the widely used segment of the electronics industry. It includes products intended for everyday use most often in entertainment and communications.
Asia Pacific has emerged as the world’s largest e-commerce hub. Asia-Pacific has witnessed a rapid growth in retail e-commerce due to rising middle class in China, India and Indonesia, and also the increase in popularity of mobile gadgets. China alone accounts for 40% of the world’s retail e-commerce sales in recent years. In China, the electronics and appliance retailers dominate the market. The domestic manufacturer are accounting for the increase in share of consumer electronics due to growing brand reputation and improved technology. E-commerce in India have transformed the working style of retail business. The growth of e-commerce industry in India is majorly due to increase in internet usage and smartphone penetration in metro cities as well as tier two & tier three cities.
Hence, global retail e-commerce packaging market is expected to reach a market size of USD 21,669.7 million by the end of the forecast period at CAGR of 5.92%.
The key players of global retail e-commerce packaging market are International Paper Company, Nippon Paper Industries Co. Ltd., Smurfit Kappa Group, Mondi Group, DS Smith Plc., Packaging Corporation of America, Rengo Co. Ltd, Orora Packaging Australia Pty Ltd., Klabin S.A., and Georgia-Pacific LLC.
Browse Full Report @ https://www.marketresearchfuture.com/reports/retail-e-commerce-packaging-market-1891
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