eCommerce Packaging Market Trends
The eCommerce packaging market is forecasted to experience growth during the next five years. Global eCommerce sales grew by over 22% in the year 2018 alone, and according to eMarketer, the global online retail market will reach $3.5 trillion in 2019, an increase of 4.5%. They also expect that eCommerce will drive a disproportionately high percentage of the overall retail growth at 45%, with most of that contribution coming from mobile. eMarketer also predicts that food and beverage eCommerce sales will grow 23.1%, while its consumer goods counterpart, health, personal care, and beauty, will grow 18.6%.
This growth is expected to continue. By 2023, online spending is expected to reach $969.70 billion, which also means a continued demand for eCommerce packaging. Mordor Intelligence expects the eCommerce packaging market to register a CAGR of nearly 15% during 2019 – 2024, which is great news for the corrugated packaging industry:
“The nature of e-commerce packaging favors the use of corrugated board as a major medium and it is now estimated that upwards of $20 billion worth of corrugated materials are used in this sector as a whole.”
As part of this rise in eCommerce shipping as well as growing consumer demand for more sustainable packaging, Pratt Industries’ 100% recycled corrugated packaging is a perfect option for e-commerce companies who are looking for a sustainable solution to their packaging needs. In addition, the direct-to-consumer market is an eCommerce opportunity that allows brands the ability to be more in control of their consumer experience, especially when it comes to meeting sustainability demands through packaging. From package design to new product launches and improvements in the supply chain, we help our customers throughout all aspects of the packaging process. With the customers’ needs always in focus, we offer sustainable packaging solutions that connect consumers to their products, while at the same time help develop brand loyalty for our customers and their consumers.
By partnering with Pratt for your eCommerce packaging needs, you can more directly address the rising consumer demand for more sustainable packaging options by using our 100% recycled packaging. This also brings great benefits to your bottom line. Through lightweighting, shipping and fulfillment costs go down and you can achieve better DIM weight optimization under our guidance. In addition, our fully integrated, close the loop program allows for the collection of recyclable materials as we deliver new boxes to our customers, thereby creating beneficial fuel and transportation efficiencies. Recovered materials are then transported to our MRFs and later used to create new paper-based packaging products in our mills. Some items that cannot be recycled become fuel for Pratt’s clean energy plant. Thanks to an integrated approach, Close the Loop solves collection challenges and yields results for our customers. Further, a single point of contact, strategic planning and targets, and quarterly program reviews provide additional value for our customers.
Pratt Industries has become a global leader in sustainable packaging with a long history of, and commitment to sustainable business practices. It’s all part of our goal to be the best vertically integrated paper, packaging and resource recovery company in the western hemisphere. Learn more about how you can meet your eCommerce packaging needs in a sustainable and efficient way, contact us at PrattIndustries.com.