As per the latest report published by Future Market Insights, the recycled plastic envelope market is expected to grow at a CAGR of 4%-4.5% annually over the upcoming decade between 2021 and 2031. Sales of recycled plastic envelope are anticipated to reach Billions of units over the forecasted period.
The increase in demand for safe and convenient packaging has led to the growth of the demand for recycled plastic envelopes. These envelopes are extensively used in various domestic, industrial, institutional, and commercial sectors. Recycled plastic envelopes are beneficial to marketers in terms of security, safety, marketability and also reusability.
Due to the stringent policies of the government regarding green packaging material and the demand of the consumers to adapt to sustainability, healthy lifestyle and eco-packaging has driven the recycled plastic envelope market.
There is always demand for packaging styles that provides high protection, reduces the product damage from external factors, and also provides high tensile strength to the product packed. These attributes tend to fuel the growth of the recycled plastic envelope market in the forecasted period.
The factors that are driving the growth of the recycled plastic envelope market is the rapid growth of e-commerce as well as corporate demands who use plastic envelopes for confidential documents which are supposed to be kept safe.
The recycled plastic envelope is cost-effective, water-resistant, light in weight and also sustainable. There are different sizes available for different uses as increased the production of the recycled plastic envelope to meet the demands worldwide.
The introduction and implementation of recycled plastics are expected to create an opportunity for new entrants in the market and also giving a chance to the developing countries to set up recycling plant facilities which would help in increasing the economy of the country.
The lack of awareness among the developing as well as developed countries have restricted in supporting recycling plant facilities for plastic products such as a plastic envelope. Also looking from the sustainability perspective, after reuse of recycled plastic, it is generally unfit for the use for another round of recycling which means the product is not that sustainable as it sounds.
Also, the emergence of digitization across the globe has posed as an alternative to all the documents, forms, fax machines, voice mails, letters and many other modes of communication. Even the usage of the recycled plastic envelope would be affected by the changing lifestyle preferences of inclining towards the online mode of communication. These significant restraining factors are projected to hamper the growth of the market.
The pharmaceutical sector is on the rise past few years and with the pandemic, there has been a lot of tests been conducted.
Recycled plastic envelope has been widely used to share the report results with the patients and as the test rates are higher more than ever in a pandemic, there has been a boost in the demand for recycled plastic envelope across the globe.
Key global players of the recycled plastic envelope market are:
Key players in the Asia Pacific region of the recycled plastic envelope market are:
The Covid-19 pandemic has affected various industries by directly affecting the demand of the product, stoppage of production due to the unavailability of manpower, raw materials and creating a disruption in the supply chain. Recycled plastic envelope has to go through a long process to recycle the plastic which was not possible during the lockdown.
Although recycled plastic envelopes are used in offices and institutes which was shut down, which lowered the demand for the envelopes. The Covid-19 proved to hamper the sales of the recycled plastic envelope, and people's changing preference of lifestyle of using e-mails and the internet has also hindered the growth of the market.
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