The Lucrative Global Paper and Packaging Market is Driven by Increased E-commerce Sales
Key Takeaways
Key players operating in the paper and packaging are Dell Technologies Inc., HP Inc., Lenovo Group Limited, and Toshiba Corporation. The major players dominate the market owing to their robust distribution networks and vast product portfolios. However, the market also witnesses the entry of several local and regional players offering niche products.
The growth in the e-commerce industry has led to an increased demand for Paper and Packaging Market Growth solutions. Various online retailers prefer paper packaging for its sustainability and cost benefits. Further, paper remains the preferred choice for the packaging of fragile goods shipped through online channels.
Major global packaging companies are expanding their manufacturing footprint in emerging economies to tap the rising demand. The growing urbanization and increased spending on consumer goods have boosted the packaging needs in Asia Pacific and Latin American nations. Local and international players are actively investing in developing efficient supply chains and sustainable paper packaging formats for these lucrative emerging markets.
Market drivers
One of the key drivers for the Paper and Packaging Market is the increased penetration of e-commerce and last-mile delivery globally. Online purchases of groceries, consumer goods, pharmaceuticals and other items have surged in recent years. This has augmented the demand for durable yet affordable packaging such as corrugated boxes, paper bags and envelopes for protecting goods during shipping. Further, sustainability concerns have prompted several e-commerce giants to switch to paper-based packaging from single-use plastic packaging. Thus, the boom in the e-commerce sector is a major growth enabler for the paper and packaging industry.
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