Honeycomb Packaging Market Is Expected To Grow At 6% CAGR During Forecast 2023

Global Honeycomb Packaging Market, to experience significant growth during the forecast period:

Market Research Future published a raw research report Global Honeycomb Packaging Market that contains the information from 2017 to 2023.The Global Honeycomb Packaging Market is expected to grow at~ 6% CAGR from 2017 to 2023.

Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Honeycomb Packaging Market Information from 2017 to 2023"

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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.

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.

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. However, increasing demand for flexible packaging is the major challenge to honeycomb packaging market. Stringent government regulations by U.S. 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 as honeycomb packaging is made from environment friendly material.

The global honeycomb packaging market is expected to grow at ~ 6% CAGR during the forecast period.

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North America honeycomb packaging market, expected to dominate the global honeycomb packaging market

North America was the dominant market with a market share of more than 35% in 2016. This is attributed to various initiatives taken by government agencies such as US Environment Protection Agency (EPA) to reduce packaging wastage. According to the United States Environment Protection Agency (EPA), packaging materials form 23% of the landfills. The government has set regulations to reduce packaging wastage, and this is driving the demand for environment friendly packaging materials such as honeycomb packaging. The significant growth in e-commerce has also augmented the growth of honeycomb packaging For instance, according to the US Census Bureau, the e-commerce sales accounted for 7.3% of total sales, among the sales through various distribution channels such as retail, supermarkets and others in 2015 and increased to 8.1% in 2016.

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The key players of global honeycomb packaging market are BASF SE (Germany), ACH Foam Technologies (U.S), DS Smith plc (U.K), HUHTAMAKI GROUP. (Mexico), Lsquare Eco-Products Pvt. Ltd. (India), Packaging Corporation of America (U.S), Sealed Air Corporation (U.S), Sonoco Products Company (U.S), Smurfit Kappa Group plc (Ireland) and WestRock Company. (U.S).

This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global honeycomb packaging market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.

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