Global Honeycomb Packaging market share predicted to grow at more than 6% by 2027:
Market research future published a half cooked research report on global Honeycomb Packaging market share. The Honeycomb Packaging market share is expected to grow at ~ 6% CAGR during the period 2017 to 2023.
Market Highlights
Honeycomb packaging is made by conglutination of paper bands into series of hexagons that are similar to honeycomb structure, and are then sandwiched between two sheets. The properties of honeycomb packaging are low material consumption, low weight, difficult to deform, resistant to pressure, shock and bending, good cushioning performance, and recyclable. Increasing demand for lightweight, environment friendly, and low cost packaging by food and beverages, automotive, and other industries, is driving the growth of Honeycomb Packaging market share.
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Honeycomb structures are naturally occurring or man-made and have the geometry of a honeycomb. These are used between two thin sheets to make materials for honeycomb packaging. Honeycomb structures aid the material used in packaging in reducing density and increasing shear and compression properties. This enables in minimizing the material usage and maximizes strength. Honeycomb packaging is 100% ecofriendly, lightweight, shock absorbent, and does not change in dimensions with temperature variations. It provides advantages such as easy handling and transportation, easy disposal, and low cost.
Increasing demand for sustainable packaging by various industries such as automotive, furniture, consumer goods, and others, is the major growth driver for honeycomb packaging. Furthermore, the growing demand for e-Commerce sector owing to increasing utilization of smart phones, is propelling the growth of packaging industry, which in turn has augmented the growth of honeycomb packaging.
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However, increasing demand for flexible packaging is the major challenge to Honeycomb Packaging market share. Stringent government regulations by US Environmental Protection Agency and other regulatory bodies on the recyclability and environment hazards of the material used in flexible packaging such as plastic and aluminum, is expected to boost growth of the Honeycomb Packaging market share as honeycomb packaging is made from environment friendly material.
The global Honeycomb Packaging market share is expected to grow at ~ 6% CAGR during the forecast period.
Exterior packaging and automotive sector are, expected to grow at the highest CAGR
Global Honeycomb Packaging market share has been segmented based on packaging type, end-use industry and geography. Based on packaging type, it has been segmented as exterior packaging, interior packaging, pallets, and others. Exterior packaging is the largest packaging type segment in the market as it provides enhanced safety in product transportation and is easy to handle. Based on the end-use industry the market is segmented as automotive, consumer goods, food and beverages, furniture, industrial goods, and others. Protective packaging is an important part of the automotive supply chain. Honeycomb packaging is the effective method for packaging bulky products and automotive parts, as it offers enhanced safety.
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Scope of the Report
This study provides an overview of the global Honeycomb Packaging market share, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Honeycomb Packaging market share by its packaging type, by end-use industry and by region.
By Packaging Type
Exterior Packaging
Interior Packaging
Pallets
Others
By End-use Industry
Automotive
Consumer Goods
Food and Beverages
Furniture
Industrial Goods
Others
By Regions
North America
Asia Pacific
Europe
Rest of the World
Key Players
The key players of global Honeycomb Packaging market share are BASF SE (Germany), ACH Foam Technologies (US), DS Smith plc (UK), HUHTAMAKI GROUP. (Mexico), Lsquare Eco-Products Pvt. Ltd. (India), Packaging Corporation of America (US), Sealed Air Corporation (US), Sonoco Products Company (US), Smurfit Kappa Group plc (Ireland) and WestRock Company. (US).
