Global Honeycomb Packaging market is expected to grow at a compound annual growth rate of XX% over the period 2019 to 2024 to reach a market size of US$XX billion by 2024 from US$XX billion in 2018. Simultaneously, the estimated volume of honeycomb packaging is expected to increase from XX metric tonnes in 2018 to XX metric tonnes in 2024. Honeycomb packages are light-weight materials made up of paper which are used for packaging of various products. The significance on eco-friendly packaging is expected to be a key factor driving the market for honeycomb packaging. Further demand from various end users like food and beverage, logistics pharmaceutical industries for protective packaging is anticipated to boost the market growth. In addition, growing e-commerce industry coupled with increasing transportation of goods is expected to create growth opportunities for honeycomb packaging market during the forecast period.
Growing demand for eco-friendly packaging.
Rising e-commerce and logistics industry.
Presence of substitutes.
The major players profiled in the honeycomb packaging market include Packaging Corporation of America, WestRock Company, Smurfit Kappa Group, Lsquare Eco Products Pvt Ltd, Hexcel Corporation, Greencore Packaging, Sonoco Products Company, DS Smith Plc, BASF SE, Sealed Air, Rebul Crating Solutions, Dufaylite Developments Ltd.
The honeycomb packaging market has been analyzed through the following segments:
Food and beverage
Middle East and Africa