The latest updated report by Coherent Market Insights on Global Honeycomb Packaging Market 2021 Growth Analysis by Key Segments and Forecast to 2027 offers users excellent business intelligence for the organization of different sizes. The purpose of this report is to study the global Honeycomb Packaging market at a macro-level and the scope of the industry in the future.
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Honeycomb structures are naturally occurring or man-made that have the geometry of a honeycomb. These are used between two thin sheets to make materials for honeycomb packaging. Honeycomb structure aids 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.
Increasing demand for flexible packaging is the major challenge to honeycomb packaging market. Stringent government regulation 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 aluminium is expected to boost growth of the honeycomb packaging market as honeycomb packaging is made from environment friendly material.
The honeycomb packaging market is segmented on the basis of packaging type as exterior packaging, interior packaging, pallets, and others. Exterior packaging is the largest packaging type segment in the market as it provides enhanced safety in product transportation and is easy to handle.
Asia Pacific is the fastest growing market in the forecast period. This is attributed to growing demand for packaging from automotive and e-Commerce sectors in emerging economies such as India and China. For instances, according to Automotive Mission Plan 2016–26 by Society of Indian Automobile Manufacturers (SIAM) and Indian Government, the Indian automotive OEM market is expected to grow from 10% to 15% to reach US$ 16.5 Bn by 2021 from US$ 7 Bn in 2016 and generate upto US$ 300 Bn in annual revenue by 2026. According to India Brand Equity Foundation, the total online spending by the consumers is estimated to increase by 31% Y-o-Y to reach US$ 135.8 Bn by 2018 and cross border shopping was valued at US$ 9.1 Bn in 2016 and is estimated to increase by 85% Y-o-Y in 2017.
Honeycomb packaging market was valued at US$ 9.64 Bn in 2016 and is projected to register a CAGR of 6.5% in terms of revenue, during 2017–2025.
The honeycomb packaging market is highly competitive with the major market players adopting various strategies such as merger and acquisitions, collaborations and new product launches to gain an edge in the market. For instance, in April 2015, Smurfit Kappa Benelux, which is a subsidiary of Smurfit Kappa, acquired Mexican and European operations of Hexacomb, which is a subsidiary of Packaging Corporation of America. Also, in March 2017, Automated Packaging Systems launched a new AirPouch FastWrap, which is a cost effective packaging solution as compared to other wrappings such as pre-filled and paper bundled bubble and foam sheeting.
[Note: *The PDF Brochure Includes
1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]
Important Information that can be extracted from the Report:
♦ Assessment of the COVID-19 impact on the growth of the Honeycomb Packaging Market
♦ Successful market entry strategies formulated by emerging market players
♦ Pricing and marketing strategies adopted by established market players
♦ Country-wise assessment of the Honeycomb Packaging Market in key regions
♦ Year-on-Year growth of each market segment over the forecast period 2027
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In Addition, The Years Considered For The Study Are As Follows:
Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026
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