Need for Packaging and Shipping Materials due to Proliferation of eCommerce Platforms Fueling Global Shipping Supply Market | Future Market Insights, Inc.
Anticipated at a compound annual growth rate (CAGR) of 3.7% between 2024 and 2034, the shipping supplies market is poised to achieve a projected industry value of approximately US$ 145.5 billion by the year 2034.
NEWARK, Del, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The shipping supply market expanded at a 2.1% CAGR from 2019 to 2023 and reached US$ 97.2 billion in 2023. In recent times, the logistics and shipping industry has seen tremendous growth and is expected to expand at a CAGR of 3.7% till 2034. The total valuation of the shipping supply market is expected to reach US$ 145.5 billion by 2034.The proliferation of eCommerce platforms and their distribution channels throughout the world has created a previously unrecorded demand for shipping essentials. As a result of the rise in the logistics industry, the need for packaging and shipping materials like brown packaging paper, packing tapes, shipping labels, etc., is also getting traction.
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In the rapidly evolving logistics market, shipping supply service providers have now emerged as important partners by solving the problems related to last-mile delivery. Shipping supply companies that put safety first with tamper-evident seals and antimicrobial packaging solutions are expected to drive the market further in the coming days.
*Key Takeaways from the Global Shipping Supply Market Study Report*
· The United States shipping supply market is predicted to advance at 2.5% CAGR through the forecasted years.
· Total demand for shipping supplies in the United Kingdom is projected to increase at 3.8% CAGR between 2024 and 2034.
· China is the leading shipping supply manufacturer as well as user in Asia, and it could witness 5.7% CAGR through 2034.
· India holds very lucrative opportunities for the growth of shipping supply industries, which is estimated to expand at 6.4% CAGR till 2034.
“Many companies are adopting innovations like temperature-controlled packaging, smart packaging, and track-and-trace technology to gain a competitive edge in the market. Emerging shipping supply companies build profitable partnerships by meeting the unique requirements of DTC brands, such as small-batch packaging and fast turnaround times,” says Senior Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
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*Competitive Landscape for Shipping Supply Market Players*
The overall market is highly competitive as there are several shipping supply manufacturers and service providers operating at both regional and global levels. As the shipping industry's regulatory standards are always changing, all enterprises face challenges in adhering to standards on packing materials, labeling, and sustainability.
*Key Companies Profiled*
1. Uline, Inc.
2. International Plastics Inc.
3. Stamar Packaging
4. UWAY Packaging Supplies.
5. Ferguson Box Company
6. Volk Packaging Corporation
7. Western Container Corporation
8. Great Little Box Company Ltd.
9. Liaoning Hengyue Printing and Packaging Co., Ltd.
10. Dahua Brother Enterprise Co., Ltd.
*Recent Developments by the Shipping Supply Service Providers*
· In November 2023, Mondi, together with Skånemejerier Company, developed a mono-material, PP-based packaging for ICA's Hushållsost cheese, among other products. This innovative packaging product line consists of a base web made of a single material and a lidding film, both of which are printed and produced by Mondi. Skånemejerier then contributes by utilizing this product to wrap 1 kilogram and 2 kg blocks of cheese. High barriers against oxygen and water vapors are provided by Mondi's mono-material solution, which keeps the cheese fresh on the grocery store shelf. It also provides excellent printability and puncture resistance, safeguarding the cheese and allowing further effective on-pack branding.
· In September 2023, Flexport introduced a supply chain solution for entrepreneurs that is self-serve and enabled by artificial intelligence. According to the technology-driven platform for international logistics, this all-in-one solution offers quick access to finance, freight, fulfillment, and replenishment for all major marketplaces and retail locations. Flexport's comprehensive supply chain solution provides replenishment injection straight into popular marketplaces like Walmart Fulfillment Services, Costco, Target, and Nordstrom, as well as over 15 wholesale channels and Fulfillment by Amazon.
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*Key Segments Covered by Shipping Supply Industry Survey Report*
By Material Type:
· Plastic
· Polyethylene (PE)
· Polypropylene (PP)
· Polyethylene Terephthalate (PET)
· Polyvinyl Chloride (PVC)
· Other Types of Plastic
· Paper & Paperboard
· Metal
· Glass
· Wood
· Other MaterialsBy Product Type:
· Folding carton
· Wooden crates
· Corrugated boxes
· Barrels
· IBCs
· Strapping
· Labels
· Bags & Envelops
· Other Product TypesBy End User:
· Courier service companies
· Financial institutions
· Government organization
· Hospitals
· National retail companies
· Hotels
· Academic institutions
· Other End User Verticals
By Region:
· North America Market
· Latin America Market
· Europe Market
· East Asia Market
· South Asia and Pacific Market
· Middle East and Africa (MEA) Market
*Author*
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
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The Insulated Styrofoam shipping boxes market is set to witness steady growth during 2021-2031, with a CAGR of around 9%.
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*About Future Market Insights (FMI)*Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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