HoneyComb Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Pallets, Interior, Exterior), Material (Plastic, Paperboard), End User, and By Geography

HoneyComb Packaging Market Forecasts to 2028 – Global Analysis By Packaging Type (Pallets, Interior, Exterior), Material (Plastic, Paperboard), End User, and By Geography

According to Stratistics MRC, the Global HoneyComb Packaging Market is accounted for $11.97 billion in 2021 and is expected to reach $19.99 billion by 2028 growing at a CAGR of 7.6% during the forecast period. Honeycomb structures are normally occurring or made by persons that have the geometrical shape of a honeycomb. Honeycomb packaging is the effective technique for packaging bulky products and automotive parts, as it gives enhanced safety. These compounds are utilized within two thin paper sheets to make elements for honeycomb packaging.

Market Dynamics:

Driver:

Increasing demand from e-commerce sector

The various advances in the e-commerce sector is driving the growth of the market. The rise in new e-commerce platforms which guarantee sound and safe delivery of products is a key trend in the modern times. The need for preventing damage of transported products, items, and goods requires shock-proof packaging. As honeycomb packaging is a highly safe type of packaging, its demand is on the rise. E-commerce vendors offer the choice of returning items if the latter gets damaged, and vendors may suffer substantial losses for such events. Hence, these vendors used honeycomb packaging for limiting the chances of goods being damaged at the time of transportation.

Restraint:

Structural limitations of honeycomb core materials

The processing and production characteristics are weak, and couldn’t be as simple to make a box-shaped packaging box such as corrugated boxes, thus process automation technology is less in production. Honeycomb core shapes are challenging to model and furthermore hard to fabricate which are computationally costly. Hence, core material might be replaced by a simple equivalent volume having elastic orthotropic properties, which acts as a restrain in the honeycomb core market growth.

Opportunity:

Increasing need for consumer and industrial goods

The transport of industrial goods is preceded thorough rigorous packaging logistics to guarantee safe delivery of products. Honeycomb packaging has received approval from various industrial analysts to pack industrial items and goods. Thus, the development of the industrial sector will constantly bring in high revenues into the honeycomb packaging market. Moreover, consumer goods additionally go through honeycomb packaging prior to getting transported which in turn boosts market growth. The presence of advanced distribution networks for commercial and industrial goods will boost market growth. Hence, the increasing requirement for consumer and industrial goods will offer ample opportunities for the market.

The paperboard segment is expected to be the largest during the forecast period

The paperboard segment is estimated to have a lucrative growth as paperboard honeycombs are utilized in the packaging industry in boxes and pallets to safeguard household and industrial appliances, equipment and others while transportation. They are excellent core materials for sandwich structures and are successful energy absorbers, which makes them reasonable for heat shielding and other high-temperature applications in vehicles.

The exterior packaging segment is expected to have the highest CAGR during the forecast period

The exterior packaging segment is anticipated to witness the fastest CAGR growth during the forecast period because of the increasing demand from end-user industries such as automobiles, furniture, and consumer goods. Exterior packaging materials refer to the outer containers and boxes in which the items are packed prior to being sent and shipped. They are the overall outer packaging which cover the entire item and assist in safe transportation from the seller to the purchaser.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to increasing demand for such packaging from e-commerce and automotive sectors from developing countries, the occurrence of significant key players, various favorable initiatives by government organizations for decreasing packaging wastage, which in turn is driving the need for eco-friendly packaging materials like honeycomb packaging, and the booming e-commerce sector are adding to the global honeycomb packaging market growth in the region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to rapid urbanization, increased penetration of end-user industries in this region and rising demand from the automotive, furniture, and consumer goods. Moreover, the occurrence of large size end-user industries will further boost the growth of the honeycomb packaging market in the region.

Key players in the market

Some of the key players profiled in the HoneyComb Packaging Market include Sonoco Products Company, WestRock Company, Smurfit Kappa Group Plc, DS Smith Plc, Packaging Corporation of America, Square Eco-Products Pvt. Ltd., HUHTAMAKI GROUP, BASF SE, ACH Foam Technologies and Sealed Air Corporation.

Key Developments:

In February 2019, BASF SE introduced Elastoskin, a paper honeycomb car trunk floor along with Green & Light. The new product enabled vehicle manufacturers to minimize car trunk floor weight by 20% without affecting the strength of components.

Packaging Types Covered:
• Pallets
• Interior Packaging
• Exterior Packaging

Materials Covered:
• Plastic
• Paperboard

End Users Covered:
• Logistics Packaging
• Industrial Goods
• Furniture
• Consumer Goods
• Automotive
• Food and Beverages

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
Comprehensive profiling of additional market players (up to 3)
SWOT Analysis of key players (up to 3)
• Regional Segmentation
Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances