Honeycomb packaging Global Market Report 2024

Description

Honeycomb packaging is crafted from layers of paperboard or cardboard arranged in a hexagonal pattern, resembling honeycomb cells. This packaging solution is designed with recyclable and biodegradable materials, providing a sustainable substitute for conventional packaging materials.

The primary varieties of honeycomb packaging materials encompass paper-based, plastic-based, and aluminum-based options. Paper-based honeycomb packaging utilizes recycled paper to construct honeycomb structures, ensuring robustness, resilience, and shock absorption. This packaging solution includes diverse formats such as boxes, cartons, pallets, pads, and interior packing, serving multiple industries including automotive, consumer products, food and beverage, and industrial sectors.

The honeycomb packaging market research report is one of a series of new reports from The Business Research Company that provides honeycomb packaging market statistics, including honeycomb packaging industry global market size, regional shares, competitors with a honeycomb packaging market share, detailed honeycomb packaging market segments, market trends and opportunities, and any further data you may need to thrive in the honeycomb packaging industry. This honeycomb packaging market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The honeycomb packaging market size has grown strongly in recent years. It will grow from $13.01 billion in 2023 to $13.67 billion in 2024 at a compound annual growth rate (CAGR) of 5%. The expansion observed in the historical period can be credited to several factors, including the rising demand for sustainable and environmentally friendly packaging solutions, the proliferation of e-commerce and online retail industries, the growth of the electronics and automotive sectors, the preference for lightweight yet durable packaging materials, increasing awareness regarding the advantages of recyclable packaging, the adoption of honeycomb packaging in food and beverage sectors for enhanced protection and insulation, and the expansion of logistics and transportation industries.

The honeycomb packaging market size is expected to see strong growth in the next few years. It will grow to $16.79 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to the continuation of the trend towards sustainable packaging options, growth of the pharmaceutical and healthcare industries, expansion of the construction and building materials sector, increasing regulations promoting environmentally friendly packaging, demand for protective and cushioning packaging solutions, focus on reducing packaging waste and carbon footprint, adoption in the furniture and home goods packaging. Major trends in the forecast period include the integration of advanced manufacturing techniques, development of recyclable materials, collaboration between manufacturers and end-users, expansion for product protection, adoption of automation and robotics, and integration of smart packaging features.

The honeycomb packaging market is set to experience growth, driven by the increasing sales in e-commerce. E-commerce sales entail the buying and selling of goods or services online, facilitated by various digital platforms. Factors such as the growing demand for shopping convenience, widespread use of smartphones and the internet, and global accessibility contribute to the expansion of the e-commerce sector. Honeycomb packaging offers sturdy protection for products during transit while being lightweight and durable, making it particularly suitable for e-commerce shipments. Additionally, its design maximizes space efficiency, optimizing storage and transportation capacities for e-commerce deliveries. According to the International Trade Administration in November 2023, the UK anticipates a 12.6% annual average growth rate in e-commerce revenues by 2025, with consumer e-commerce representing 36.3% of the country's retail industry as of January 2021. The projected e-commerce revenue for 2025 in the UK is expected to reach $285.60 billion, underscoring the significance of e-commerce in driving the honeycomb packaging market forward.

Key players in the honeycomb packaging market are concentrating on innovating packaging solutions to cater to the increasing demand from low- and medium-volume e-commerce retailers and fulfillment companies. One such innovation is paper wrapping systems, which utilize paper-based materials within honeycomb structures for product protection and containment. Sealed Air Corporation introduced the QuikWrap Nano and QuikWrap M systems in November 2022. These systems, powered without electricity and requiring minimal assembly, offer efficient packaging solutions for e-commerce businesses. The QuikWrap Nano, suitable for low-volume enterprises, features a compact corrugated board dispensing box holding expanding die-cut honeycomb paper and interleaf tissue paper. On the other hand, the QuikWrap M is designed for medium-volume operations and is refillable, accommodating larger rolls of honeycomb paper and tissue paper. Both systems provide double-layered protection for products, utilizing FSC-certified recyclable paper with tear and hold technology.

In October 2021, Packaging Corporation of America expanded its presence in the packaging industry by acquiring Advance Packaging Corporation for $189 million. This strategic move aimed to strengthen Packaging Corporation of America's offerings and market presence while granting Advance Packaging Corporation's customers access to a broader range of products and services supported by PCA's extensive mill system. Advance Packaging Corporation, a US-based packaging company, specializes in honeycomb protective packaging solutions among its product offerings.

Major companies operating in the honeycomb packaging market are BASF SE, WestRock Company, DS Smith plc, Packaging Corporation of America, Sonoco Products Company, Sealed Air Corporation, Huhtamaki PPL Limited, Flexi-Hex, Smurfit Kappa Group plc, Signode Industries Inc., Eco-Products Pvt. Ltd., ACH Foam Technologies Inc., Axxor Group, Cascades Inc., Nordgrens Emballage FABrik Group, Premier Packaging Products Pvt. Ltd., Macpac Industries Private Limited, IPC Industrial Packaging Corp., Lsquare Eco Products Pvt. Ltd., Eltete TPM Ltd., Pheng Hoon Honeycomb Paper Products Pte. Ltd., Honeycomb Cellpack A/S, Nubold Group Ltd., American Containers Inc., Corint Group Inc., Honicel Nederland BV

North America was the largest region in the honeycomb packaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the honeycomb packaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the honeycomb packaging market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The honeycomb packaging market consists of sales of products such as honeycomb boards, panels, adhesives, protective liners, and edge protectors. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Material Type: Paper-based Honeycomb Packaging; Plastic-based Honeycomb Packaging; Aluminum-based Honeycomb Packaging
2) By Packaging Type: Boxes and Cartons; Pallets and Pads; Interior Packaging
3) By Application: Automotive Packaging; Consumer Goods Packaging; Food and Beverage Packaging; Industrial Packaging
Covering: BASF SE; WestRock Company; DS Smith plc; Packaging Corporation of America; Sonoco Products Company

Product Code: r17372

1. Executive Summary

2. Honeycomb Packaging Market Characteristics

3. Honeycomb Packaging Market Trends And Strategies

4. Honeycomb Packaging Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Honeycomb Packaging Market Size and Growth

5.1. Global Honeycomb Packaging Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Honeycomb Packaging Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Honeycomb Packaging Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Honeycomb Packaging Market Segmentation

6.1. Global Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Paper-based Honeycomb Packaging
Plastic-based Honeycomb Packaging
Aluminum-based Honeycomb Packaging
6.2. Global Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Boxes and Cartons
Pallets and Pads
Interior Packaging
Other Packaging Types
6.3. Global Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Automotive Packaging
Consumer Goods Packaging
Food and Beverage Packaging:
Industrial Packaging
Other Applications

7. Honeycomb Packaging Market Regional And Country Analysis

7.1. Global Honeycomb Packaging Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Honeycomb Packaging Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Honeycomb Packaging Market

8.1. Asia-Pacific Honeycomb Packaging Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Honeycomb Packaging Market

9.1. China Honeycomb Packaging Market Overview
9.2. China Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Honeycomb Packaging Market

10.1. India Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Honeycomb Packaging Market

11.1. Japan Honeycomb Packaging Market Overview
11.2. Japan Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Honeycomb Packaging Market

12.1. Australia Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Honeycomb Packaging Market

13.1. Indonesia Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Honeycomb Packaging Market

14.1. South Korea Honeycomb Packaging Market Overview
14.2. South Korea Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Honeycomb Packaging Market

15.1. Western Europe Honeycomb Packaging Market Overview
15.2. Western Europe Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Honeycomb Packaging Market

16.1. UK Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Honeycomb Packaging Market

17.1. Germany Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Honeycomb Packaging Market

18.1. France Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Honeycomb Packaging Market

19.1. Italy Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Honeycomb Packaging Market

20.1. Spain Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Honeycomb Packaging Market

21.1. Eastern Europe Honeycomb Packaging Market Overview
21.2. Eastern Europe Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Honeycomb Packaging Market

22.1. Russia Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Honeycomb Packaging Market

23.1. North America Honeycomb Packaging Market Overview
23.2. North America Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Honeycomb Packaging Market

24.1. USA Honeycomb Packaging Market Overview
24.2. USA Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Honeycomb Packaging Market

25.1. Canada Honeycomb Packaging Market Overview
25.2. Canada Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Honeycomb Packaging Market

26.1. South America Honeycomb Packaging Market Overview
26.2. South America Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Honeycomb Packaging Market

27.1. Brazil Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Honeycomb Packaging Market

28.1. Middle East Honeycomb Packaging Market Overview
28.2. Middle East Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Honeycomb Packaging Market

29.1. Africa Honeycomb Packaging Market Overview
29.2. Africa Honeycomb Packaging Market, Segmentation By Material Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Honeycomb Packaging Market, Segmentation By Packaging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Honeycomb Packaging Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Honeycomb Packaging Market Competitive Landscape And Company Profiles

30.1. Honeycomb Packaging Market Competitive Landscape
30.2. Honeycomb Packaging Market Company Profiles
- 30.2.1. BASF SE
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. WestRock Company
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. DS Smith plc
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Packaging Corporation of America
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Sonoco Products Company
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Honeycomb Packaging Market Other Major And Innovative Companies

31.1. Sealed Air Corporation
31.2. Huhtamaki PPL Limited
31.3. Flexi-Hex
31.4. Smurfit Kappa Group plc
31.5. Signode Industries Inc.
31.6. Eco-Products Pvt. Ltd.
31.7. ACH Foam Technologies Inc.
31.8. Axxor Group
31.9. Cascades Inc.
31.10. Nordgrens Emballage FABrik Group
31.11. Premier Packaging Products Pvt. Ltd.
31.12. Macpac Industries Private Limited
31.13. IPC Industrial Packaging Corp.
31.14. Lsquare Eco Products Pvt. Ltd.
31.15. Eltete TPM Ltd.

32. Global Honeycomb Packaging Market Competitive Benchmarking

33. Global Honeycomb Packaging Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Honeycomb Packaging Market

35. Honeycomb Packaging Market Future Outlook and Potential Analysis

35.1 Honeycomb Packaging Market In 2028 - Countries Offering Most New Opportunities
35.2 Honeycomb Packaging Market In 2028 - Segments Offering Most New Opportunities
35.3 Honeycomb Packaging Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer