Pune, India, Oct. 06, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Wicket Mailer Envelopes and Bags Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material Type, Product Type, End Use, and Geography,” the wicket mailer envelopes and bags market is expected to grow from $1.87 billion in 2022 to $2.43 billion by 2028; it is estimated to grow at a CAGR of 4.5% between 2022 and 2028. The market growth is attributed to the increasing adoption of wicket mailer envelopes and bags in e-commerce.
Euphoria Packaging LLP, PolyCover Ltd, Adsure Packaging Ltd, LPS Industries LLC, Hanpak JSC, Zim's Bagging Co, BGR Inc, A-Pac Manufacturing Co. Inc., Mondi Plc, PAC Worldwide Corp, Bischof + Klein SE & Co KG, Four Star Plastics Inc., St. Johns Packaging Ltd, UFlex Ltd, Coveris Management GmbH, and Maco Pkg are among the major players operating in the global wicket mailer envelopes and bags market. Companies in this market focus on strategies such as investments in research and development activities, and new product launches.
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Asia Pacific held the largest share of the global wicket mailer envelopes and bags market in 2021. The rising disposable income of consumers and economic growth of the region fuel the demand for food products, pharmaceuticals, and personal care products, thereby favoring the market growth in this region. Further, the retail sector is growing rapidly in Asia Pacific. The proliferation of the online retail industry in this region is attributed to the growing penetration of smartphones, expanding range of logistics options for e-commerce players, and changing consumer behavior during the COVID-19 pandemic.
Rising Demand for Sustainable Packaging Solutions to Boost Wicket Mailer Envelopes and Bags Market in Future
In recent years, the packaging industry has seen a massive demand for sustainable packaging owing to rising concerns related to single-use plastic packaging, greenhouse gas emissions (GHG), climate change, and plastic waste accumulation (in landfills and oceans). Moreover, changing consumer perceptions about plastic usage and its environmental footprint are also propelling the demand for eco-friendly packaging solutions. According to the Global Buying Green Report 2020 published by Trivium Packaging, 53% of the surveyed consumers are actively seeking information on sustainability and recycling of packaging materials. The manufacturers of wicket bags are providing 100% recyclable and paper-based products to address these demands. In 2020, Mondi, one of the prominent packaging companies based in Europe, launched eco-friendly wicket bags under the brand EcoWicketBag made of kraft paper. The bag was specially curated for hygiene products, including baby and adult diapers, and toilet and kitchen tissues. Thus, the rising demand for sustainable packaging solutions is expected to bolster the growth of the wicket mailer envelopes and bags market during the forecast period.
Wicket Mailer Envelopes and Bags Market: Segmental Overview
Based on material type, the wicket mailer envelopes and bags market is segmented into plastic and papers. The plastic segment is further divided into polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), and others. The plastic segment held a larger share of the global market in 2021. Plastic is one of the major materials used in the manufacturing of wicket mailer envelopes and bags. Low-density polyethylene, high-density polyethylene, linear low-density polyethylene, polypropylene, and ethylene-vinyl acetate are a few of the plastics used for the manufacturing of wicket mailer envelopes and bags. Such bags have come up as cost-effective and convenient solution for different industries.
Based on product type, the wicket mailer envelopes and bags market is segmented into poly wicket bags, paper wicket bags, poly wicket mailers, and paper wicket mailers. Paper wicket bags is expected to be the fastest-growing segment during the forecast period. Paper bags are eco-friendly, recyclable, and reusable. In addition to high-quality paper bags, manufacturers manufacture customized paper bags for products such as apparel, footwear, food, and toys. Using such superior materials for packaging helps enterprises create a unique brand identity among customers. Wicket bags made from paper have a low CO2 footprint and are fully recyclable.
Based on end use, the wicket mailer envelopes and bags market is segmented into banking & financial services, courier & logistics, retail, and others. The courier & logistics segment is expected to account for the largest market share during the forecast period. Companies such as FedEx and DHL provide courier and logistics services. Wicket mailer envelopes and bags are used for the safe and secure shipment of products. Many plastic courier bags have bubble pads and exhibit tamper-proof functionality.
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Impact of COVID-19 Pandemic on Wicket Mailer Envelopes and Bags Market
The COVID-19 pandemic caused significant economic losses across the world due to its temporary effects of the operational efficiencies of various industries due to a huge gap in the supply and demand of raw materials. It also adversely impacted the wicket mailer envelopes and bags market in 2021. In terms of the demand side, wicket mailer envelope and bag vendors experienced decreased demand from banking and financial institutes. However, later in 2021, various economies started reviving their operations with the relaxation of lockdown measures and the beginning of vaccination drives. The demand for wicket mailer envelopes from the banking, logistic, retail services started increasing, backed by the recovery of various industrial and commercial activities. Moreover, significant investments by prominent manufacturers to scale up their production capacities are expected to drive the wicket mailer envelopes and bags market growth during the forecast period.
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