The global e-commerce packaging market size is slated for considerable expansion from USD 48.81 billion in 2021 to USD 140.86 billion in 2028 owing to the rising number of smart phone users across the world, finds Fortune Business Insights in its report, titled “E-Commerce Packaging Market, 2021-2028”, the e-commerce packaging market stood at USD 42.66 billion in 2020. It is set to exhibit a CAGR of 16.3% during the forecast period.
On the basis of type, this market is classified into plastic, corrugated boxes, paper, and others. By application, the market is divided into food and beverage, consumer electronics, personal care and cosmetics, fashion and apparel, and others. In terms of geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
This research report offers an in-depth study of the driving factors, restraints, and trends related to the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by the leading players to boost their market position.
Increasing Number of Working Population across the World to Fuel the Market
Over the years, there has been a substantial increase in the working population across the world due to the rising urbanization rate worldwide. This has led to an increasing consumer inclination towards the use of the internet and other latest technologies by most of people in order to buy essential products through various e-commerce websites such as Myntra, Flipkart, and others. Thus, this is a crucial factor driving the growth of this market
Rising Number of Youth Population to Boost the Asia Pacific Market Growth
Asia Pacific region is projected to dominate the e-commerce packaging market share on account of the increasing number of youth population in the countries such as India and China.
North America region is anticipated to grow at a decent pace in this market due to the rising impact of celebrity and influencer culture in this region.