Packaging Industry Today

The Future of Honeycomb Packaging Market Unparalleled Surge in Industry, 2023

Global Honeycomb Packaging Market Report By Packaging Type (Exterior Packaging, Interior Packaging, Pallets, and Others), By End-use Industry (Automotive, Consumer Goods, Food and Beverages, Furniture, Industrial Goods and Others) and By Region - Global Forecast to 2023.
Published 05 February 2018
Market Research Future published a research report on “Global Honeycomb Packaging Market Research Report- Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

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) are some of the prominent players at the forefront of competition in the global Honeycomb packaging market and are profiled in MRFR Analysis. 

Global Honeycomb Packaging Market   - Overview

The honeycomb packaging market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of such packaging is influenced by the growing trend for online shopping, and rapid growth in electronic sector. However, availability of other alternative packaging hinder the growth of the market. 

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

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One of the major drivers contributing to the growth of this market is the high demand for protective packaging. The demand for such packaging is related to the expanding manufacturing industry and the e-commerce sector. The continuous growth of the online shopping market is fuelling the overall growth Honeycomb is considered as one of the strongest and cost effective packaging material. Furthermore it is environment friendly which further has spiked the market growth.

Rapid growth in the electronic sector is ultimately driving the demand of the honeycomb packaging. Today consumer electronics is the top selling category due to increase in the number of online electronics models. According to REED Electronic Research, a leading market information provider on the global electronics industry, in 2015, China has accounted for 38% of electronics equipment production in the global market.

Most of the consumers as well as manufacturers today are concerned about the impact of packaging on the environment due to the rising awareness of environment protection. Besides being an innovative and environment friendly packaging solution, biodegradable honeycomb packaging environment friendly. This induces the market growth. 

Global Honeycomb Packaging Market   - Competitive Analysis

Honeycomb packaging industry has seen significant growth in last few years due to its application across industries, cost efficient solution and sustainable packaging solutions. Sealed Air Corporation along with other players have been able to spread its operations across regions of North America, Europe, APAC and others, which has enabled them to acquire such a major share in the global honeycomb packaging market. These companies under its honeycomb packaging solutions offer extensive product line.

Sealed Air Corporation seeks to enhance its position as a leading global provider of innovative packaging and hygiene solutions that the customers use for improving performance, cost competitiveness, sustainability and automation with the objective of enhancing productivity of operations. Sealed Air Corporation has majorly been focusing on the expansion as a strategy and is accelerating the rate of growth in the developing economies.      

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DS Smith, Europe’s leading packaging strategist, has officially opened a new PackRight Centre in Germany. The new Centre is based in Hövelhof, and will be the sixth to open in the Germany – Switzerland region since the opening of the first Centre in Hamburg in May 2016. DS Smith’s approach is unique within the packaging industry. Taking into account the complete supply cycle and the latest shopper, retail and market trends, DS Smith develops innovative and creative display and packaging concepts in collaboration with a range of individuals from within its customer’s business. The solutions developed in this way help to increase the sales of customers and reduce risks and costs.

Packaging Corporation of America today announced that it has entered into a definitive agreement to acquire substantially all of the assets of Sacramento Container Corporation, and 100% of the membership interests of Northern Sheets, LLC and Central California Sheets, LLC in a cash-free, debt-free transaction for a cash purchase price of $265 million. The acquisition transaction is structured as a purchase of assets resulting in a full step-up of the assets to fair market value. Under the terms of the agreement, PCA will acquire full-line corrugated products and sheet feeder operations in McClellan, California and Kingsburg, California.

Global Honeycomb Packaging Market   - Segments

Global Honeycomb Packaging Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.

Segmentation By Packaging Type             : Comprises – Exterior Packaging, Interior Packaging, Pallets, and Others

Segmentation By End-use Industries      :  Comprises – Automotive, Consumer Goods, Food and Beverages, Furniture, Industrial Goods and Others

Segmentation By Regions                            : Comprises Geographical regions - North America, Europe, APAC and Rest of the World

Global Honeycomb Packaging Market   - Regional Analysis

Asia-Pacific is expected to show a very high rate of growth in demand for honeycomb packaging over the coming years, owing to rising disposable incomes and the booming ecommerce industry. The honeycomb packaging market in developing countries such as China and India are estimated to grow at a high rate in the forecast period. China is estimated to grow faster than any other country because of its strong economic growth along with increase in online shopping and rapid urbanization.

China holds the largest market in Asia Pacific. In China, the electronics and appliance retailers dominate the market. Domestic manufacturers are accounting for the increase in share of consumer electronics due to growing brand reputation and improved technology. Factors such as rising increase in disposable income, urbanization are some of the major factors driving the demand for such packaging solutions.

In Japan, electronics and consumer goods is expected to dominate the market during the forecast period. E-commerce industry offers an attractive and convenient shopping option to consumers, which provides an innovative, sustainable and seamless experience over all channels. Furthermore, E-commerce in India has transformed the Style of business. The growth factors for e-commerce in Japan are mobile commerce use bubble packaging for light weight and heavy duty products.

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The report for Global Honeycomb Packaging Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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