A recent report published by Infinium Global Research on honeycomb packaging market provides in-depth analysis of segments and sub-segments in the global as well as regional honeycomb packaging market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional honeycomb packaging market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global honeycomb packaging market. According to the report, the global honeycomb packaging market is projected to grow at a CAGR of 6.47% over the forecast period of 2019-2025.
Different kinds of products require different kinds of packaging. Some products are sensitive and fragile, which requires a special kind of packaging to ensure the safety of goods. The honeycomb packaging helps in the protection of the goods due to its excellent cushion and shock absorbing properties owing to its special structure. The honeycomb packaging market is highly fragmented in nature consisting of many small vendors and few global players competing for the position in the market. The key players in the market including DS Smith plc, Smurfit Kappa Group, Sonoco Products Company, Lsquare Eco-Products Pvt. Ltd., Cascades Inc., Packaging Corporation of America and others are focusing on the development of innovative products to cater to customer's unique needs and also trying to increase their geographical presence by expanding their product portfolio and entering into mergers and acquisitions.
The increasing application of honeycomb packaging across several industrial verticals is majorly driving the honeycomb packaging market. Due to its special structure, the honeycomb packaging provides excellent cushion and shock-absorbing properties to protect the goods inside. Moreover, the growing e-commerce sector expands the demand for honeycomb packaging. Furthermore, the demand for environment-friendly packaging is supporting the growth of the honeycomb packaging market. The honeycomb packaging is made out of kraft paper or recycled paper, which is easily disposable and causes lesser pollution. However, the emergence of flexible packaging is the major restraining factor for the growth of the honeycomb packaging market. Nevertheless, the customization of the honeycomb paperboard packaging is expected to offer lucrative opportunities for the key players in the honeycomb packaging market.
In terms of region, North America generated the highest revenue for honeycomb packaging, dominating the global honeycomb packaging market. The largest market share of the North America region attributed to the large size of end-user industries and increasing efforts to reduce the packaging wastage. Moreover, the growing e-commerce sector in the region is expected to boost the growth of the honeycomb packaging market in North America.
The report on global honeycomb packaging market covers segments such as packaging type, and end-use. On the basis of packaging type, the sub-markets include interior packaging, exterior packaging, and pallets packaging. On the basis of end-use, the sub-markets include automotive, electronics, furniture, industrial goods, consumer goods, and other end-uses.
The report provides profiles of the companies in the market such as DS Smith plc, Smurfit Kappa Group, Sonoco Products Company, Lsquare Eco-Products Pvt. Ltd., Cascades inc., Packaging Corporation of America, ACH Foam Technologies, Inc., Huhtamaki Oyj, Premier Packaging Products, WestRock Company, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of honeycomb packaging market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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