HEXAGONAL PACKAGING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The increasing volatility in raw material prices is proving to be a major limiting factor for the expansion of the global hexagonal packaging market. Hexagonal packaging solutions are widely used across numerous industries like food products, beverages, personal care, healthcare and more. These packages are manufactured using various raw materials such as paper, plastic, metal etc. However, the prices of these raw materials have become quite unpredictable in recent years.  The Covid-19 pandemic disrupted global supply chains and created huge shortages for many commonly used commodities. This resulted in sharp price fluctuations for materials like paper, resins and metals within a short time frame.

Market Opportunities: Expansion in Developing Economies

Expansion in developing economies has great potential to boost the global hexagonal packaging market going forward. As emerging economies in Asia Pacific, Latin America, Middle East and Africa experience strong economic growth and development over the next decade, their consumption levels and purchasing power will increase substantially. This will lead to higher demand for consumer products as well as electronics, industrial goods and pharmaceuticals which are routinely shipped and stored in hexagonal containers.