The growth in sales of products online has pumped up the demand for packaging materials for the shipment of these products.
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While the volatility of raw material prices like plastic, wood, glass and corrugated paper is proving to be a major challenge faced by packaging market vendors, the market had a robust growth over the past few years, mainly due to the growth of the global e-commerce market. The growth in sales of products online has pumped up the demand for packaging materials for the shipment of these products. Part of the reason is the increasing internet penetration in emerging countries, which has encouraged a large chunk of the population to move from conventional shopping method to online shopping. Some of the other key drivers include increasing attention to smart and sustainable packaging solutions, rise in popularity of light-weight packaging products and increase in market consolidation.
With the majority of consumer product makers preferring different types of environmentally friendly packaging materials and designs to support their business operations (for example, paper, which can be recycled up to 7 times), the focus of packaging vendors is now on the production of packaging products like corrugated boxes, that are fully recyclable.