Global Honeycomb Packaging Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global Honeycomb packaging market in its upcoming report titled, “Global Honeycomb Packaging Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027”. The global honeycomb packaging market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. 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
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Nefab Group
- Packaging Corporation of America
- Complete Packaging Solutions
- Multi-Wall Packaging
- Rebul Custom Packaging
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