HONEYCOMB PACKAGING MARKET ANALYSIS

Honeycomb Packaging MarketSize and Trends

The honeycomb packaging market is expected to reach US$ 25.6 billion by 2030, which is US$ 14 billion in 2022, registering a CAGR of 7.84% during the forecast period of 2023 to 2030. Demand for honeycomb packaging is attributable to the rising amount of damage and wastage to products that are in transit. The need to keep valuable products such as heavy consumer electronics, industrial machinery, glass items, and other equipment have produced a need for sustainable packaging. The increasing need for honeycomb packaging is also attributable to the appearance of e-commerce and the reduced footfall of retail outlets, which boosted the demand for transport, thus creating a need for safe packaging methods.

Honeycomb packaging market: Growth drivers

Increasing demand for eco-friendly solutions

Honeycomb packaging is the modern trend in numerous packaging industries, it is the major sustainable packaging solution and also has better options for the packaging of products than other packaging solutions, specially plastic packaging which can lead to unnecessary junk that pollutes the environment and ecosystem. This packaging are biodegradable and won’t cause any harm to the environment. This packaging can be easily recycled. These benefits can aid the products in making an eco-friendly brand image that attracts more customers. Therefore, all these factors surged the demand for honeycomb packaging, which is expected to drive the market's growth.

Surging usage of honeycomb packaging in packaging industry

Packaging is probably the largest application for the honeycomb packaging market. In conveying or shipping products, honeycomb packaging is extensively used due to its high durability, which protects products from damage. Honeycomb packaging refers to strong paperboard packaging solutions, which are majorly used for transportation. Honeycomb packaging works as protective packaging solution for numerous products such as furniture, FMCG, electronics, products, and many others. Thus, the surging usage of honeycomb packaging in the packaging industry is expected to drive market growth.

Honeycomb packaging market: Market Restraints

Environmental concerns associated with the production of paper-based packaging

Rise in the emission of gases during the production of paper-based packaging has adversely affected the environment which will act as major market restraint for market growth. Also, honeycomb packaging manufacturing threatens natural habitats due to a surge in the consumption of paper. So, environmental concerns are the major challenge that will obstruct the growth rate of the market.