The decline in mail businesses due to the advent of electronic communication is irreversible. The volume of letters posted is significantly reducing each year. In contrast ecommerce mega trends are driving a couple of trillion worth retail opportunities, simultaneously creating opportunities for the postal packaging market.
Transparency Market Research’s (TMR’s) report on the global postal packaging market offers insights into key trends the players should capitalize on. It uncovers hidden opportunities within the market and warns the players against potential threat.
According to the report, research and development initiatives hold the key for success of the market players. Successful companies within the market were able significantly raise their productivity, subsequently their sales by focusing on research and development.
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In order to sustain growth rate these companies should focus on optimizing resources and including eco-friendly materials. Consumers have been showing increasing inclination towards recycled packages in the last few years. Carton and boxes made from recycled paper and paperboards therefore are in high demand.
The report offers a comprehensive market overview. Some of the key takeaways from the report are as follows:
- The postal packaging market is expected to reach US$ 11.1 Bn by the end of 2020
- The demand for flexible and sustainable packaging is expected to rise significantly
- Asia Pacific is forecast to hold the leading market share
- Retail environment in emerging nations such as India, China, and Malaysia will favor growth of the market
“Postal packaging market is facing severe competition from emerging technologies of packaging. To sustain growth most companies are therefore focusing on eco-friendly and recyclable materials for production. For instance the use of corn starch, cardboards, and papers for producing packages used in postal services is increasing,” said a lead analyst at TMR.
Increasing Demand for Online Delivery to Underpin Growth Post Pandemic
Temporary suspension of production due to the COVID-19 outbreak will significantly impact the market’s growth. Business will be particularly hampered in countries witnessing partial or complete lockdown. Nonetheless, recovery is on cards especially on account of the ecommerce boon and rising demand for last mile delivery.
Moderate Growth Likely in Europe and North America
The postal packaging market in North America is expected to demonstrate 1.4x growth between 2020 and 2028. The demand for paper and paper board packaging is likely to be the highest in the region. Overall growth will remain moderate, especially due to consumers’ inclination for digital methods of communication. While envelopes will remain the leading segment in terms of packaging format, growth in segment will spiral downward in the coming years.
The postal packaging market in Europe will gain more from the demand witnessed in the household segment than commercial sector. Growth too is expected to be at a higher pace in the household segment in comparison to the latter. The rising penetration of ecommerce, coupled with the demand for sustainable packaging, has been aiding expansion witnessed in Europe. The consistently increasing demand from Germany, Spain, Nordic, Poland, and other countries has made the region an attractive market for postal packaging.
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During the forecast period however Asia Pacific is expected to remain dominant. Despite consistent drop of physical mails, the postal packaging market in Asia Pacific has continued to grow. Opportunities generated by government offices and advertising mail services are expected to help increase revenue from mail in the near future. The rising demand from emerging nations will aid the expansion of the market in Asia Pacific.
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