Shoe Packaging Market Expected to Reach $12.2 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Shoe Packaging Market," The shoe packaging market size was valued at $9.1 billion in 2021, and is estimated to reach $12.2 billion by 2031, growing at a CAGR of 3% from 2022 to 2031.

Shoe packaging can be used to store, protect, transport, and communicate brand value to customers in addition to being used to exhibit shoes in a visually appealing way. Shoe packets are essential for moving shoes through the supply chain. Their ability to protect and store cannot be compromised, as poor packaging can harm vast quantities of shoes, resulting in large-scale product recalls.

There is a significant rise in the demand for eco-friendly packaging options with the rise in environmental consciousness among consumers. Customers now have higher standards when selecting items and packaging that support environment-friendly packaging standards, hence ecommerce industry companies are focusing on utilizing sustainable packaging. For instance, in June 2020, Amazon which is one of the largest e-commerce companies, announced that all single-use plastic packaging originating from its more than 50 fulfilment centers in India have been eliminated.

The business has gone a step further by introducing paper tape previously that is completely plastic-free and biodegradable and is also used to seal and secure the packages.Moreover, key market players are focused on investment strategy to increase company's production capacity. For instance, in October 2022, Mondi Group invested in new kraft paper machine at Steti mill in the Czech Republic. The investment will help the company to meet the increasing demand for paper-based flexible packaging, which is being driven by an increase in e-commerce and a rise in demand for environment-friendly packaging. All such instances are anticipated to augment the shoe packaging market growth.

Moreover, increased environmental consciousness among customers, there is a huge increase in demand for eco-friendly packaging solutions. Consumers today have higher expectations when it comes to purchasing things and packaging that adhere to environmentally friendly packaging requirements. Moreover key market players are implementing sustainable strategies in the organisation. For instance, in November 2021, Mizuno USA, a shoe packaging company has announced to switch to shoe boxes made of 100% recycled paper starting in November 2021 as part of its sustainability activities to reduce CO2 emission. Such instances encourage producers to adopt eco-friendly shoe packaging, which in turn boosts the market growth. This is another factor driving the shoe packaging industry.

The governments across the world have taken steps to restrict the use of packaging that is not environment- friendly, such as plastic bags, flexible polythene bags for packaging, and others. Thus, huge amount of waste generated by shoe packaging is expected to impede the growth of the market.Hence, such factors are expected to constrain the market growth of the shoe packaging industry. Moreover, governments in differents are taking initiatives for use of sustainable material for packaging. For instance, in November 2020, Europe has announced "Green Deal" for putting an end to wasteful packaging, boosting reuse and recycling. Such instances are expected to support the market.

In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to the interruption of the supply chain, thereby hindering the growth of the shoe packaging market. However, this situation is expected to improve as the government is relaxing norms around the world for resuming business activities.

The market for shoe packaging is dominated by numerous major companies that are continuously developing existing packaging solutions. Key market players are focused on product launches as a business development strategy. For instance, in December 2020, the fashion brand H&M through its sustainable operations has launched a new multi-brand paper packaging system that’s reusable and recyclable. These packaging are used for apparel, accessories, shoe packaging, and other products. In addition, in July 2021, Smurfit Kappa Group PLC acquired Cartonbox, which is a folding carton company located in Monterrey, in the north-east part of Mexico. This acquisition will expand Smurfit Kappa’s business in Mexico's market. Moreover, Smurfit Kappa Group PLC offers a custom cardboard shoe box known as the 'eShoe box' is a unique packaging for shoes. Thus, such developments in the industry that generate more sales are expected to provide lucrative growth opportunities for increasing the shoe packaging market share.

Key Findings Of the Study

• The report provides an extensive analysis of the current and emerging global shoe packaging market trends and dynamics.
• By type, the rigid segment dominated the market in 2021.
• By material, the paper segment dominated the market in 2021.
• By distribution channel, the offline segment generated the highest revenue in 2021.
• Region-wise, Asia-Pacific dominated the market in 2021. And LAMEA is anticipated to dominate the global shoe packaging market exhibiting the highest CAGR during the forecast period.
• The report provides an extensive analysis of the global shoe packaging market outlook and emerging opportunities of the shoe packaging market forecast period.
• The global forecast of shoe packaging market analysis from 2021 to 2031 is included in the report.