Furthermore, the market will demonstrate a CAGR of 12.1% from 2020 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The market is being driven by the expansion of the e-commerce industry, on account of the increasing penetration of the internet and the changing buying patterns of people across the world.

Additionally, the mushrooming population all over the world is also positively impacting the e-commerce industry, as people are increasingly buying various products from digital platforms. As per the United Nations Department of Economic and Social Affairs (UNDESA), the global population will surge from 7.7 billion in 2020 to 8.6 billion, 9.8 billion, and 11.2 billion by 2030, 2050, and 2100, respectively, with the addition of nearly 83 million people every year. The rising public preference for shopping from online channels over conventional retail stores is fueling the surge in the retail e-commerce business, thereby propelling the market to new heights.

Depending on material type, the retail e-commerce packaging market is divided into envelops and boxes. Between these, the boxes category held the larger share in the market in 2020. Boxes are extensively used in product fulfillment centers, owing to their ability to protect the products from damage. When end user is taken into consideration, the retail e-commerce packaging market is classified into fashion and apparel, food and beverages, consumer electronics, cosmetics and personal care, and furniture and home furnishing. Out of these, the consumer electronics category dominated the market in the past.

The demand for consumer electronics was primarily fueled by the increasing use of smartphones, which are currently available at much cheaper prices than they were a decade ago. In addition, the easy availability of several modern and classic models at affordable prices on various online platforms is expected to propel the progress of this category in the coming years. Geographically, Asia-Pacific (APAC) contributed the highest revenue to the retail e-commerce packaging market in the past. This was because of the presence of a large number of internet users and the high disposable income of people in the region.

China is witnessing a sharp surge in e-commerce sales, because of the rising public preference for online shopping, owing to the availability of a diverse range of products at affordable prices on digital platforms. The players operating in the retail e-commerce packaging market are focusing on collaborations and partnerships in order to strengthen their position in the industry. For example, Smurfit Kappa Group Plc entered into a partnership with World Wildlife Fund Colombia in August 2020 to improve forestry conservation efforts and expand, protect, and restore ecosystems and forests.

Retail E-Commerce Packaging Market Research Report@ https://www.psmarketresearch.com/market-analysis/retail-e-commerce-packaging-market-analysis