The anticipated trajectory of the North America shipping supplies market points to a value of US$ 26.4 Billion by 2023, with a projected steady compound annual growth rate (CAGR) of 4.2% spanning from 2023 to 2032. As the evaluation period concludes, the market’s value is expected to ascend significantly, potentially reaching US$ 37.8 Billion by the culmination of 2032.
In today’s fast-paced business landscape, effective shipping is a cornerstone of success. The North America Shipping Supplies Market encompasses a diverse range of products and services designed to facilitate the seamless movement of goods across the continent. From packaging materials to logistics solutions, this market plays a pivotal role in ensuring timely deliveries and customer satisfaction.
In recent years, the logistics and shipping industries have experienced remarkable expansion on a global scale. This growth has been primarily driven by the burgeoning prevalence of e-commerce websites, creating an insatiable demand for packaging supplies.
According to insights from FMI, North America is currently witnessing a significant upswing in manufacturing facilities and export activities. This uptick is expected to fuel the demand for shipping supplies within the region. Projections indicate that the market is poised to expand by 1.5 times its current value during the specified time frame. This surge underscores the critical role played by these supplies in supporting the ever-evolving landscape of logistics and shipping.
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Top Trends Propelling the Demand for Shipping Supplies across North America
Increasing Use of Blockchain Technology to Fuel Sales of Packaging Supplies
The advent of blockchain technology is poised to usher in a transformative era in the shipping and logistics industry, potentially giving a significant boost to the sales of shipping supplies in the coming years. This cutting-edge technology has been heralded as a game-changer across various sectors, including logistics and shipping.
Blockchain technology brings a novel approach to record-keeping and data tracking, offering a secure, accurate, and efficient solution. In the shipping industry, the ability to track data in real-time is of paramount importance. Traditional tracking systems were often sluggish and cumbersome, impeding the efficiency of operations.
In contrast, blockchain technology presents a paradigm shift in how tracking and recording processes are conducted. It streamlines and enhances shipment management, offering real-time visibility and control. Importantly, blockchain technology also opens avenues for cost reduction within the shipping industry, potentially transforming the economic landscape of the sector.
Drivers:
- E-commerce Boom: The surge in online shopping and e-commerce platforms has driven a significant increase in demand for shipping supplies. Consumers’ growing preference for shopping online has led to a greater need for packaging materials, boxes, and other shipping-related items.
- Expanding Manufacturing Facilities: The region has witnessed a rise in manufacturing facilities and export activities. This growth has resulted in a higher requirement for shipping supplies to meet the transportation and packaging needs of various products.
- Logistics and Shipping Industry Growth: The logistics and shipping sectors have experienced substantial expansion in North America. This growth is attributed to increased international trade, the emergence of new distribution centers, and the demand for efficient shipping solutions.
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Restraints:
- Environmental Concerns: The extensive use of packaging materials and shipping supplies has raised environmental concerns related to waste and sustainability. Consumers, regulatory bodies, and businesses are increasingly emphasizing eco-friendly and recyclable packaging solutions.
- Cost Pressures: As demand for shipping supplies increases, businesses face cost pressures related to procurement and logistics. Price fluctuations in raw materials and transportation can impact the overall cost of shipping supplies, affecting profitability.
- Regulatory Compliance: Stringent regulations and standards concerning packaging and labeling in the region can pose challenges for companies operating in the shipping supplies market. Ensuring compliance with these regulations is essential but can be complex and costly.
Key Market Players
- DS Smith Plc
- Mondi Group
- Amcor Plc
- Sonoco Products Company
- WestRock Company
- Sealed Air Corporation
- International Paper Company
- Pregis LLC
- ProAmpac LLC
- Ferguson Box Company
- Volk Packaging Corporation
- Great Little Box Company Ltd.
- Express Packaging Inc.
- Western Container Corporation
- PAC Worldwide, Inc.
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
- Institutional
- Financial Institutions
- Academic Institutions
- Government Organizations
By Country:
- US
- Canada
- Mexico
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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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