Honeycomb Packaging Market size is anticipated to reach USD 16.6 Billion by the year 2027 and register a CAGR of 5.64% over the forecast period of 2027.
Honeycomb structures are commonly occurring or made by persons that have the geometrical shape of a honeycomb. These compounds are used within two thin paper sheets to make elements for honeycomb packaging. This structure helps the material utilized in packaging to reduce the density and increase the shear and then, compression properties. Honeycomb Packaging Market size is anticipated to reach USD 16.6 Billion by the year 2027 and register a CAGR of 5.64% over the forecast period of 2027.
The honeycomb properties allow minimizing the usage of material and maximize its strength. Honeycomb packaging material is 100% environmental-friendly, shock absorbent, lightweight, and didn’t change its dimensions with different temperatures. It provides benefits like easy handling, easy disposal, transportation, and low cost. Honeycomb packaging market trend is raised because of its demand in the market worldwide.
COVID 19 Analysis:
The impact of the pandemic leads to lockdown and it simply affects the revenue of entire business sectors, disruptors, and followers. Thus, the lockdown was executed differently in many countries and regions all over the world. The impact is also viewed differently by segments and region. The honeycomb packaging market analysis has covered the present short- & long-term effects on the market, and it could help the resolve-makers to make the outline and methods for firms by region.
Coronavirus pandemic is an unparalleled global common health calamity that has impacted almost every business sector, and the long-term condition is anticipated to impact the business growth over the forecast period. The honeycomb packaging market analysis and market trend deliver the scenarios on this pandemic considering the modification in customer preference and demand, averting of the supply chain, purchasing patterns, dynamics of present market forces, and the considerable involvements of governments.
One of the major factors that will preferably drive the market growth and increasing automotive
market in enhancing economies. There is a huge demand for the market of honeycomb packaging materials from the self-propelling segment. Additionally, the growing popularity of acceptable packaging and stretchable packaging are the key factors that are mere to drive the honeycomb market growth over the forecast period.
The honeycomb packaging market analysis offers an understanding of the current market and sale of the honeycomb packaging products and also other market drivers that are probable to impact the honeycomb packaging market growth. These attributes will enable customers to design growth techniques and strategies that will lift the opportunities and reduce the challenges effectively.
The material used for the honeycomb packaging is durable and highly resistant. Honeycomb packaging is good for packaging of any size and type of material, which looks like a small cell or a great automotive part. The best part of honeycomb packaging material is the small chips, the largest generators could be efficiently packed using this material.
Many companies took advantage of the paper honeycomb packaging and considerably minimize the volume of their shipments, its durability, and high protection quality makes the client choose this packaging type rather than others. Additionally, it has a special feature that attracts the client even more, which is 100% recyclable and completely eco-friendly.
Customization of honeycomb paperboard packagings like different shapes and sizes are available according to the demands of the customers is anticipated to achieve certain opportunities for the international honeycomb packaging market growth.
The honeycomb packaging market is down due to the flexible packaging market raise owing to this factor restraining the market growth of the international honeycomb packaging market size.
The honeycomb packaging market also offers comfort to the manufacturers as it could be easily machine cut, fabricated, and assembled.
An anti-abrasive film with viscous coating on the material of honeycomb packaging is a major trend that exists in the international honeycomb packaging market. The growth of flexible packaging material is one of the major factors which is hindering the growth of the international honeycomb packaging market trend.
The resistance like fracture, folding, and peeling are very weak, which restricts its application at various levels. The processing and production characteristics are also weak, couldn’t be as easy to create a box-shaped packaging box such as corrugated boxes, thus process automation technology is less in production. The printing and packaging size is less. The market of honeycomb packaging manufacture mostly rectangle sizes box.
Honeycomb packaging doesn’t offer a side to gum an edge, this factor mostly hinders the growth of the market. Too much air is present in a honeycomb board, so it couldn’t be used to screw the board. It couldn’t be put through to specify the pressure without creating inlet marks Additionally, which is not essential to consider the need for contemporary decoration, which may limit its market value and market share soon.
Cumulative growth analysis:
The rising application of honeycomb packaging over several industrial sectors is mainly driving the market of honeycomb packaging. Owing to its special design, the honeycomb packaging market trend provides excellent properties like a cushion and shock-absorbing nature to prevent the interior of the goods. Furthermore, the increasing e-commerce industry expands the need for honeycomb packaging. Additionally, the requirement for eco-friendly packaging is encouraging the honeycomb packaging market growth. The market size of the honeycomb packagingwas at USD 11.32 Billion in 2019 and is anticipated to reach USD 16.6 Billion by the year 2027 and register a CAGR of 5.64% over the forecast period of 2027.
The honeycomb packaging is usually made out of chart cardboard paper or recycled paper, which is simply disposable and less in pollution. Even though, the increasing flexible packaging is the factor that restraint the market growth of the honeycomb packaging. Yet, the customization available in honeycomb packaging is anticipated to offer profitable opportunities for the market players in the market of honeycomb packaging. The enhanced stackability and load stability optimization of the honeycomb materials creates a client preference over various vendors.
Value chain analysis:
The honeycomb packaging sector has been observing optimal growth in the last couple of years and is merely to continue in future years too. The honeycomb packaging market size could be featured to increasing investments in R&D activities, arriving of new players, advanced innovation, technological development, effective allocation of raw materials, and increasing competition among the market players to expand its customer as well as a regional base.
Concerned government incentives and policies, also applicable laws, are anticipated to determine the rise of the honeycomb packaging market size during the forecasting period. Emerging in the investing capacity of clients with the growth in disposable revenue will further capital investments towards the market of honeycomb packaging.
Based on Segment:
Based on Packaging Type:
Based on End-Use Industry:
Based on Region:
The regional analysis of the honeycomb packaging analysis provides data about the market product sales in case of revenue and quantity in regions. It depends on the potential opportunities for the advanced technique entrants, boosting the market players in the market involved region. The market share is considering the significance of government regulations and socio-economic factors of the regions.
There is increasing demand for furnishing and automobile in the APAC area, and also a significant number of large-scale firms. This particular area is also anticipated to enhance faster due to increasing urbanization and the huge accessibility of client sectors in the upcoming future. Regulations targeted at minimizing packaging waste are increasing the demand for eco-friendly packaging materials like honeycomb packaging.
In the year 2018, the EconCore at FachPack exhibition presents in Nuremberg, Germany implemented the new technology on the market of honeycomb packaging. The feature dominates the existing systems.
In the same year, the company named Philippine Honeycomb Technology introduces “the Phil honeycomb” which is created from 100% recycled bio-paper. It has sustainable properties and eco-friendly products. This honeycomb is not made from the process of deforestation. It doesn’t emit any chlorofluorocarbon.
This report has covered:
|Market Size||2030: Significant Value|
|CAGR||6% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Packaging Type, End-use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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)|
|Key Market Opportunities||increasing demand for flexible packaging|
|Key Market Drivers||
Honeycomb Packaging Market size is anticipated to reach USD 16.6 Billion by the year 2027 and register a CAGR of 5.64% over the forecast period of 2027
The major participants are BASF SE (Germany), DS Smith plc (U.K), ACH Foam Technologies (U.S), HUHTAMAKI GROUP. (Mexico), Packaging Corporation of America (U.S), Lsquare Eco-Products Pvt. Ltd. (India), Sealed Air Corporation (U.S), Smurfit Kappa Group plc (Ireland), Sonoco Products Company (U.S), and WestRock Company. (U.S).
The segments based on packaging type are interior packaging, exterior packaging, pallets, and others.
Increasing demand for environment-friendly packaging solutions is supposed to augment the honeycomb packaging market.
The end-user industries are automotive, industrial goods, food and beverages, consumer goods, furniture, and others.