The projected growth of the North America shipping supplies market at a CAGR of 4.2% between 2023 and 2032 indicates a positive outlook for the industry. Several factors contribute to this growth, including the prominence of the United States as a major exporter and the increasing demand for advanced shipping supplies.
The United States, with its large economy and substantial exports, plays a crucial role in driving the demand for shipping supplies. Key export sectors such as integrated circuits, vehicles, petroleum gas, refined and unrefined petroleum, and automobiles require adequate packaging materials to ensure the safe transport and delivery of goods. As the US continues to expand its exports, the sales of packaging supplies like drums, cartons, boxes, straps, and tapes are expected to grow.
In addition to the US, other countries such as the Netherlands, China, Japan, Mexico, and Canada serve as significant trading partners for the United States. These trade relationships further contribute to the demand for shipping supplies as goods are transported internationally.
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Furthermore, government regulations concerning labeling and packaging during shipping play a vital role in driving the demand for shipping materials. Compliance with these regulations ensures that goods are packaged appropriately and reach their destinations in the desired condition. As regulations evolve and become more stringent, the need for advanced shipping supplies will continue to rise.
The rapid expansion of the US logistics sector also fuels the growth of the shipping supplies market in North America. As the logistics industry expands to accommodate the increasing volume of goods transported domestically and internationally, there is a corresponding need for packaging materials to support this growth.
Overall, the combination of increased exports, trade relationships, government regulations, and the expansion of the logistics sector contributes to the projected growth of the North America shipping supplies market. By 2032, the demand for shipping goods in proper condition is expected to drive significant growth in the industry.
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Key Takeaways from North America Shipping Supplies Market
- Based on material, the paper segment is expected to cover 44% of the North America shipping supplies market share by the end of 2023.
- By packaging format, the corrugated boxes segment is projected to create a growth opportunity of US$ 4.6 Bn during the forecast period.
- In terms of end use, the e-commerce companies sub-segment under the commercial segment is estimated to grow 1.5 times the current market value during the evaluation period.
- Mexico shipping supplies market is expected to grow 1.8 times the current value during the projected time frame.
- During the historical period (2017-2022), the North America shipping supplies market witnessed a CAGR of 2.5% and reached a valuation of US$ 25.2 Bn in 2022.
“Significantly growing national and international trade activities, better trading relationships, and relaxation of trade laws are some of the major growth drivers for the North America shipping supplies market.” – Says an FMI analyst.
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Key Players :
- DS Smith Plc
- Mondi Group
- Amcor Plc
- Sonoco Products Company
- WestRock Company
- Sealed Air Corporation
North America Shipping Supplies Market Outlook by Category
By Material:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Others
- Paper & Paperboard
- Metal
- Wood
By Packaging Format:
- Corrugated Boxes
- Folding Cartons
- Bags
- Crates
- Drums & Barrels
- Straps
- IBCs
- Mailers & Envelopes
- Wraps
- Labels
- Tapes
By End Use:
- Commercial
- E-commerce Companies
- Courier Service Companies
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