Honeycomb Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Honeycomb Packaging Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Honeycomb Packaging Market

The honeycomb packaging market size was valued at USD 2.80 billion in 2022, and the market is now projected to grow from USD 2.93 billion in 2023 to USD 4.18 billion by 2030, exhibiting a CAGR of 5.20% during the forecast period of 2023-2030.

The manufacturing units were halted and lack of raw materials hampered the market growth. Several automotive companies close down their operations due to the rising risk of the virus spreading. The COVID-19 pandemic created impediments to the honeycomb packaging market growth. But, the increased responsiveness of adopting eco-friendly products among people has propelled the demand for the market growth post-pandemic.

The honeycomb packaging market share globally has increased because of the rising demand for cost-effective protective casing supplies. During transport, the growing damage and waste of products amplified the demand for these packing. The market is witnessing rapid growth because of the material advantages. They are strong, durable, lightweight, and cost-effective and protect the products inside it. These features are attracting many consumers to expand the market.

The trend is escalating demand for sustainable packing is propelling market growth. It is a primary environmentally-friendly packaging solution, having better possibilities to package products than other solutions, especially plastic packaging, which may lead to unnecessary waste that pollutes the environment and ecosystems. These packing solutions are biodegradable and easily recyclable that would not cause any harmful waste to the environment.

Comprehensive Analysis of Honeycomb Packaging Market

The honeycomb packaging market and packaging industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the packaging industry. These segmentations are methodically segregated by types of packaging type and end use. The packaging types include exterior packaging, interior packaging, and pallets. The end users are food & beverages, automotive, consumer goods, logistics, and others.

The North American region is conducive to the global honeycomb packaging market; leading to a recall of USD 0.90 billion because of the presence of significant players in the region and the well-established furniture and automotive sectors are boosting the market growth.

The top players in the market play a vital role in the packaging industry assuring industrial prospectus growth and setting market standards. These players include DS Smith (U.K.), Sonoco Products Company (U.S.), Sealed Air Corporation (U.S.), Signode Industrial Group LLC (U.S.), Packaging Corporation of America (U.S.), Smurfit Kappa Group (Ireland), Axxor (Netherlands), BEWI (Denmark), Deluxe Packaging (U.S.), IPC Industrial Packaging Corporation (U.S.), Dufaylite (U.K.), Eltete TPM Ltd (Finland), Helios Packaging (India), Macpack (India), and Honicel (Netherlands), these market players provide a level-playing competitive landscape.

In April 2023, Novolex announced the launch of its Power Prep packaging. It is specifically designed for fresh food. Power Prep uses non-fluorinated oil-and-grease-resistant paper that is laminated by a honeycomb pattern to create an insulated layer.

Segmentation Table

Global Honeycomb Packaging Market Scope

ATTRIBUTE DETAILS

Study Period 2017-2030

Base Year 2022

Estimated Year 2023

Forecast Period 2023-2030

Historical Period 2017-2021

Growth Rate CAGR of 5.20% from 2023 to 2030

Unit Value (USD Billion)

Segmentation By Packaging Type

Exterior Packaging

Interior Packaging

Pallets

By End Use

Food & Beverages

Automotive

Consumer Goods

Logistics

Others

By Region

North America (By Packaging Type, By End Use, and Country)

U.S. (By End Use)

Canada (By End Use)

Europe (By Packaging Type, By End Use, and Country)

Germany (By End Use)

U.K. (By End Use)

France (By End Use)

Italy (By End Use)

Spain (By End Use)

Russia (By End Use)

Poland (By End Use)

Romania (By End Use)

Rest of Europe (By End Use)

Asia Pacific (By Packaging Type, By End Use, and Country)

China (By End Use)

India (By End Use)

Japan (By End Use)

Australia (By End Use)

South Korea (By End Use)

Southeast Asia (By End Use)

Rest of Asia Pacific (By End Use)

Latin America (By Packaging Type, By End Use, and Country)

Brazil (By End Use)

Mexico (By End Use)

Argentina (By End Use)

Rest of Latin America (By End Use)

The Middle East & Africa (By Packaging Type, By End Use, By End Use, and Country)

Saudi Arabia (By End Use)

UAE (By End Use)

Oman (By End Use)

South Africa (By End Use)

Rest of the Middle East & Africa (By End Use)


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