New York, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "E-commerce Plastic Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06129754/?utm_source=GNW
The outbreak of COVID-19 at the beginning of 2020 caused a significant increase in the usage of e-commerce instead of the traditional brick and mortar sales as the lockdown measures were implemented in multiple countries to curb the spread of the virus. The pandemic has resulted in the return of single-use plastic bags and boxes due to hygienic reasons, thus, positively impacting the usage of plastic packaging in e-commerce. ?
Key Highlights
Plastic packaging has become popular among consumers for products delivered through e-commerce, as plastic material is lightweight and unbreakable, making them easier to handle. Even major manufacturers prefer to use plastic packaging, owing to the lower cost of production. There is a wide variety of innovative, cost-effective, and sustainable packaging solutions emerging in the market, and plastic, as a product, has been accepted globally.
E-commerce sales are steadily growing across the globe owing to a number of factors. Some of the major factors include increasing urban population percentage, penetration of mobile internet, usage of digital payments, digital skills of the population, and improving delivery infrastructure, among others.
The Internet penetration coupled with the boom in smartphone penetration has raveled up online shopping. Market growth in developing countries such as India has been benefiting from this growing penetration of the internet and smartphones. According to IBEF, internet users in India are projected to increase from 493.96 million in March 2018 to 829 million in 2021.
The past few years have seen a continual consumer purchasing shift toward e-commerce and away from brick-and-mortar stores. However, the e-commerce trend that was supposed to be a slow and steady trajectory upwards has turned into a significant rise due to pandemic shopping habits. On a parallel path, omnichannel fulfillment gained a foothold. Retailers are being challenged to offer their customers a superior purchasing experience regardless of where the product is being shipped from. The objective is to make the right packaging choices that will positively impact quality, speed, and shipping costs.
The market is expected to be significantly challenged due to dynamic changes in regulatory standards, primarily owing to the increasing environmental concerns. Governments across the world have been responding to public concerns regarding plastic packaging waste, especially plastic packaging waste, and implementing regulations in order to minimize environmental waste and improve waste management processes.
The COVID-19 pandemic caused substantial changes in the packaging industry. Before the COVID-19 pandemic, many businesses and market players were progressing fast toward their sustainability goals. However, during the pandemic, it has negatively affected many industries worldwide, particularly the packaging industry. Packaging companies have produced innovative technologies that are eco-friendly, biodegradable, and reusable. But there were concerns about the safety and hygiene of reusable packaging; hence it temporarily halted the packaging industry’s progress towards a circular and sustainable supply chain.
Key Market Trends
Consumer Electronics and Media to Hold Significant Market Share
Manufacturers of packaging products for consumer electronics are increasingly using protective packaging items, such as air bubble wraps, air pillows, and other inflated packaging products, to shield devices. It is anticipated that in the future, these packaging alternatives will satisfy the requirements of all electronic categories.
The consumer electronics plastic market is very competitive and has a number of well-established companies. In the years to come, several of them are anticipated to account for a sizable portion of the market. Innovative product releases and other growth tactics provide market leaders an advantage over their rivals. Leading players in the consumer electronics plastic industry team up with lesser-known players in an effort to enhance their market share and clientele.
Manufacturers of packaging products for consumer electronics are increasingly using protective packaging items, such as air bubble wraps, air pillows, and other inflated packaging products, to shield devices. It is anticipated that in the future, these packaging alternatives will satisfy the requirements of all electronic categories.
Plastic use in consumer electronics is increasing significantly all around the world, which is enhancing the market outlook. Consumer electronics frequently employ plastic wrapping to shield various electronic gadgets from internal and external dangers like inclement weather. Additionally, the market is growing as a result of the rising demand for safe packaging for smartphones and their peripherals, including chargers, earbuds, and universal serial bus (USB) cables.
Electronic product packaging that is environmentally friendly is growing in popularity. Regulators and government authorities have vigorously pushed for the use of green packaging. The necessity of protecting the environment from non-biodegradable packaging trash is being recognized by brands and consumers alike.
China of Asia Pacific region to Hold Significant Market Growth
China is the largest e-commerce market globally, generating approximately 50% of the world’s transactions. Alibaba’s Taobao and Tmall, and JD.com are the domestic platforms that dominate the country’s e-commerce market. Pinduoduo overtook dozens of competitors to become the third-largest platform, using a new group purchasing model. Other platforms, including Vipshop, Mogujie, Suning, Gome, Dangdang, Yihaodian, and JuMei, comprise the remaining market share according to The eCommerce Guide.
Parallel to the rapid growth in the e-commerce industry, the government has been enacting regulations to regulate the industry effectively. For instance, in February 2021, China’s State Council introduced the "Antitrust Guidelines for the Platform Economy."According to the Government of China, this action was taken in response to the rise of the digital economy and targeted to stop monopolistic behaviors and promote the healthy and sustainable development of online commerce.
China has the most online buyers and sellers in the world, which is aided by being the world’s most populous nation. According to the China Internet Network Information Center, at the end of 2021, it had 842.1 million online consumers, more than twice the United States population, which is the next largest e-commerce market.
Due to expanding consumer preference for online shopping, the proliferation of payment options, as well as online shopping events, including single-day offers, enticing discounts, and enhanced logistic infrastructure, China is one of the emerging nations where the e-commerce sector is expanding rapidly. ?
The e-commerce boom in the country has compelled the packaging companies and resellers to explore sustainable packaging alternatives, including recycled plastics, among others. Such initiatives are likely to boost the e-commerce packaging market growth in the coming years.?
Competitive Landscape
The E-commerce Plastic Packaging Market is fragmented, with market incumbents, such as Amcor PLC, Berry Global Inc., Sealed Air Corporation, Pregis LLC, Sonoco Products Company, Storopack Hans Reichenecker GmbH operating in the market. Companies are gaining sustainable competitive advantage through innovation in design, technology, and application.
May 2022 - The Huhtamaki Foundation inaugurated its first recycling plant in India, Maharashtra, to help drive circularity for packaging. The site - which is spread across 2,000 square meters - will recycle about 1,600 kilograms of post-consumer used flexible plastic waste per day from early May as the plant becomes fully operational.
February 2022 - ExxonMobil has completed its sale of certified circular polymers to Berry. The circular polymers are developed using the company’s Exxtendrecycling technology, designed to help expand the range of recyclable plastic materials and maintain products’ performance over several recycling loops. Berry Global will use the polymers to produce containers for food-grade packaging.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06129754/?utm_source=GNW
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