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 an analyst at FMI.
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.
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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.
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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