Global Honeycomb Packaging Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Global Honeycomb Packaging Market Overview:
“The global Honeycomb Packaging Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global honeycomb packaging market report has been segmented on the basis of packaging type, end-use and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Honeycomb or honeycomb paper is most effective low cost core material for manufacturing lightweight sandwich structures for furniture, panels, doors, packaging and upcoming automotive market.
Its lightweight, rugged protective packaging material will efficiently replace denser materials such as wood and plastic. Honeycomb is one of the strongest and most economical core packaging materials with good absorbing, cradling, and cushioning features.
Being a paper-based product, honeycomb is easy to dispose and 100% recyclable and biodegradable.
High demand for protective and sustainable packaging and the e-commerce sector are the drivers contributing to growth of the market. According to the US Census Bureau, the e-Commerce sales accounted for 7.3% of total sales through various distribution channels such as retail, supermarkets and others in 2015 and increased to 8.1% in 2016.
Moreover, growing use of protective packaging materials in e-commerce sector for safe product delivery, driving the target market. The growing applications of honeycomb packaging, especially for electronics and automotive products, which have high chances of damage during transportation, will spur the market growth during the forecast period.
Government regulations by U.S. Environmental Protection Agency and other regulatory bodies on recyclability and environment hazards of the material used in flexible packaging such as plastic and aluminum, is influencing the global market positively.
Recent trend shows that, lightweight packaging materials is gaining traction in the target market. The increased purchasing power of consumers and high demand for packaged products, manufacturers focusing on using several expensive elements, technologies, colours, and raw materials to develop honeycomb packaging.
According to the United States Environment Protection Agency (EPA), packaging materials form 23% of the landfills. Furthermore, increasing demand for flexible packaging may hamper growth of honeycomb packaging market.
Geographically, Asia Pacific is the fastest growing market owing to rising need for automotive, furniture and consumer goods and presence of large size end-user industries in the region. Additionally, rapid urbanization and increased penetration of end-user industries in this region anticipated to grow at a higher rate.
Regulations related to reduce packaging wastage driving demand for environment friendly packaging materials such as honeycomb packaging.
Global Honeycomb Packaging Market Segmentation:
Segmentation by Packaging Type:
- Exterior Packaging
- Interior Packaging
Segmentation by End-use:
- Consumer Goods
- Food and Beverages
- Industrial Goods
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Nefab Group
- Packaging Corporation of America
- Complete Packaging Solutions
- Multi-Wall Packaging
- Rebul Custom Packaging
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