Honeycomb Packaging Market Was Valued At US$ 9.64 Bin in 2016 and Is Projected to Register A CAGR Of 6.5% In Terms of Revenue, During 2017–2025

Honeycomb Packaging is an extremely useful material for packaging materials. It is being widely used in the production of all kinds of goods from a large scale or small scale. Bulk packaging is easily done by using this unique packaging. One of the main reasons why Honeycomb Packaging is so popular is because it is very light in weight. It has been manufactured using a unique thermal tape, which enables it to be extremely light-weight, yet provide the same strength, durability, and quality as other materials.

Increasing demand for sustainable packaging by various industries such as consumer goods, automotive, furniture, and others is expected to drive growth of the global honeycomb packaging market during the forecast period. The demand for sustainable packaging has increased significantly since it provides numerous advantages such as reduced carbon footprint, no harmful use of plastics, easy disposal, and reduction in the shipping cost. Besides, sustainable packaging is biodegradable and versatile as compared to other options. Key companies in the market are launching innovative products to gain a significant advantage in the market. For instance, in September 2020, Xaar, an inject printer manufacturer, introduced new sustainable packaging that is fully recyclable and biodegradable cardboard packs. Honeycomb packaging is a sustainable and cost-effective packaging option that can be used in the above-mentioned industries. Thus, these factors are expected to drive growth of the global honeycomb packaging market during the forecast period. Furthermore, rapid growth of the e-commerce sector is expected to boost the global honeycomb packaging market growth over the forecast period.

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However, increasing demand for flexible packaging is expected to hinder the global honeycomb packaging market growth over the forecast period. Since flexible packaging is lightweight it can pose a major challenge to honeycomb packaging in the near future. Among regions, North America is expected to witness significant growth in the global honeycomb packaging market during the forecast period. This is owing to proactive initiatives taken by government authorities such as the U.S. Environment Protection Agency (EPA) to minimize packaging wastage. The U.S. government has set regulations to minimize packaging wastage, which is driving demand for honeycomb packaging. Furthermore, Asia Pacific is expected to register a robust growth rate over the forecast period, owing to increasing demand for sustainable packaging from the e-commerce and automotive sector in emerging economies such as China, India, and Japan.

Major companies involved in the global honeycomb packaging market are ACH Foam Technologies, WestRock Company, BASF SE, Smurfit Kappa Group, DS Smith Plc, Sonoco Products Company, Huhtamaki Group, Packaging Corporation of America, Sealed Air Corporation, and Lsquare Eco-Products Pvt. Ltd.

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For instance, in June 2020, Smurfit Kappa Group introduced an innovative, sustainable new packaging named Thermo Box with honeycomb capabilities for frozen and chilled food.

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This release was published on openPR.