In the coming years, the retail e-commerce packaging market in Africa will expand at the fastest pace.
When the global population grows, so does the market for different consumable and non-consumable goods, driving up the demand for retail e-commerce packaging solutions all over the world. According to the United Nations Department of Economic and Social Affairs (UNDESA), the world’s population is increasingly increasing. By 2030, 2050, and 2100, it is expected to increase from 7.6 billion in 2019 to 8.6 billion, 9.8 billion, and 11.2 billion, respectively.
Furthermore, the rising use of smartphones and the increasing penetration of the internet are driving demand for retail e-commerce packaging solutions all over the world. This is because, as a result of increasing internet penetration, the market for different packaging materials is positively impacted by the rapid growth of digital industries such as the e-commerce industry. Aside from these factors, the ongoing COVID-19 pandemic is also propelling the retail e-commerce packaging industry worldwide.
The demand for retail e-commerce packaging is increasing as a result of the aforementioned factors, which is propelling the global retail e-commerce packaging market forward. By 2030, the market value is expected to have increased from $19,022.7 million in 2019 to $68,388.1 million. Furthermore, between 2020 and 2030, the demand will develop at a CAGR of 12.1%. The most common products used in retail e-commerce packaging are boxes, air cushions, tapes and labels, bubble wraps, and envelops.
Africa is one of the continents in the world where the retail e-commerce packaging market is expected to rise the fastest in the coming years. This would be the product of different government policies being enforced in the regional countries.