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.
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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 market for retail e-commerce packaging 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 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.
As per a report by P&S Intelligence, the Asia-Pacific 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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