Global Retail E-Commerce Packaging Market Predicted to Exhibit Revenue Explosion Between 2020 and 2030

The global retail e-commerce packaging market attained a valuation of $19,022.7 million in 2019 and is predicted to generate a revenue of $68,388.1 million by 2030. According to the estimates of P&S Intelligence, a market research company based in India, the market would demonstrate a CAGR of 12.1% between 2020 and 2030. The surging population across the world and the increasing affordability of internet connections and smartphones are the prominent factors powering the advancement of the market around the world.

 

The soaring population levels across the world are massively pushing up the demand for both consumable and non-consumable goods. This is, in turn, boosting the progress of the market, as these goods are mainly sold via online channels. As per the findings of the United Nations Department of Economic and Social Affairs (UNDESA), the total population of the world was 7.6 billion in 2019. Moreover, the organization found that around 83 million people are added to this number every year.

 

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This trend is likely to continue in the coming years. This is causing the boom of the e-commerce industry, which is, in turn, propelling the sales of packaging products. The ballooning sales of these products are driving the progress of the retail e-commerce packaging industry. Based on material type, the retail e-commerce packaging market is divided into envelopes, boxes, and others, wherein the others include bubble wraps, tapes and labels, and air cushions. 

 

Globally, the retail e-commerce packaging market registered the highest growth in the Asia-Pacific (APAC) region in the past years and this trend will continue in the future years as well. This would be due to the existence of a large population, the presence of a thriving e-commerce industry, and the growing propensity of the people in this region toward latest technologies. Moreover, according to the India Brand Equity Foundation (IBEF), India will become the second-biggest e-commerce market globally by 2034.