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Honeycomb Packaging Market by Type, Material, and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR45517
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The honeycomb packaging market share is expected to increase by USD 689.62 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.56%.

This honeycomb packaging market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers honeycomb packaging market segmentation by type (interior packaging, exterior packaging, pallets packaging, and others), material (paperboard and plastic), and geography (North America, APAC, Europe, MEA, and South America). The honeycomb packaging market report also offers information on several market vendors, including American Containers Inc., Cascades Inc., Corint Group, DS Smith Plc, Honicel Nederland BV, IPC Industrial Packaging Corp., Packaging Corp. of America, Smurfit Kappa Group Plc, Taylor Packaging Ltd., and YOJ pack-kraft among others.

What will the Honeycomb Packaging Market Size be During the Forecast Period?

Honeycomb Packaging Market Size

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Honeycomb Packaging Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The growing automotive market in emerging economies is notably driving the honeycomb packaging market growth, although factors such as rising prices of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the honeycomb packaging industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Honeycomb Packaging Market Driver

The growing automotive market in emerging economies is notably driving the honeycomb packaging market growth. Honeycomb packaging is used in the automotive market to pack automotive parts. The global automotive industry is expected to grow on the backdrop of the rising demand from emerging markets, such as China and India. Compared with the mature markets, India and China have a low vehicle penetration. As the middle-class population grows and increases in disposable income, the sales of the automotive industry are expected to rise as one of the aspirations of the middle-class population is owning a car. Global automotive production is estimated to increase during the forecast period. As the market for the automotive industry grows, OEMs will increase the production of automotive parts that are used in the final automotive vehicle. Thus, the increasing demand for honeycomb packaging needed to pack automotive parts will drive the global honeycomb packaging market.

Key Honeycomb Packaging Market Trend

The rising e-commerce sales is the key market trend driving the honeycomb packaging market growth. In the e-commerce sector, the products being sold must be securely packed. Otherwise, they may get damaged while they are being shipped or transported across long distances. This may increase the chances of consumers not opting for the same supplier again by 50%. Hence, e-commerce players use protective packaging, such as honeycomb packaging. In addition, the consumers may use the Internet to publicly show their dissatisfaction with the experience with the supplier. This may create a negative image of the supplier in public. Even if a consumer returns the damaged product, the company must bear the additional cost. Therefore, it is essential for e-commerce companies to invest in quality packaging to protect their products. At present, the use of the Internet is extensive. This has contributed to the growth of the e-commerce industry during the past few years. The industry is expected to continue to grow during the forecast period. The growing e-commerce sales will increase the need for honeycomb packaging, thereby fueling the growth of the global honeycomb packaging market.

Key Honeycomb Packaging Market Challenge

The rising prices of raw materials is the key challenge impeding the honeycomb packaging market growth. In general, a major part of honeycomb packaging is made of paperboard. This employs substantial use of wood pulp as a raw material for making paperboard. These increased prices of wood pulp led to a rise in the production cost incurred by the packaging companies, including the companies in the global honeycomb packaging market. Several factors that contribute to the rise in the wood pulp prices are mentioned in the exhibit below: Increased demand for wood pulp due to rising economies across the world Increased construction activities Increased industrial activities Rise in the supply chain input cost The rise in the prices of packaging materials will increase the prices of production for companies in the global honeycomb packaging market and will, therefore, prove challenging for the companies to balance this rise.

This honeycomb packaging market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global honeycomb packaging market as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the honeycomb packaging market during the forecast period.

Who are the Major Honeycomb Packaging Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • American Containers Inc.
  • Cascades Inc.
  • Corint Group
  • DS Smith Plc
  • Honicel Nederland BV
  • IPC Industrial Packaging Corp.
  • Packaging Corp. of America
  • Smurfit Kappa Group Plc
  • Taylor Packaging Ltd.
  • YOJ pack-kraft

 

This statistical study of the honeycomb packaging market encompasses successful business strategies deployed by the key vendors. The honeycomb packaging market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • American Containers Inc. - The company offers honeycomb packaging such as corrugated honeycomb which is used in load securement solutions.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The honeycomb packaging market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Honeycomb Packaging Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the honeycomb packaging market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Honeycomb Packaging Market?

Honeycomb Packaging Market Market segmentation by region

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34% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for the honeycomb packaging market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The expansions by the end-users such as the food and beverages sector will influence the demand for packaging solutions which will facilitate the honeycomb packaging market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The honeycomb packaging market in the region is witnessing certain challenges due to the COVID-19 pandemic. The US is the most affected country by the pandemic. For instance, as of August 24, 2021, there were 38 million COVID-19 cases in the US. Most of the industrial operations in the region are negatively affected by the creation of significant downtime, shipment delays, and challenges in manufacturing due to the pandemic. This has negatively affected the demand for packaging solutions for various manufacturers. Hence, these factors hindered the potential growth of the market in the region during the first half of 2020. However, the market is expected to grow during the forecast period due to the lifting of lockdowns and the resumption of supply chain activities.

What are the Revenue-generating Type Segments in the Honeycomb Packaging Market?

Honeycomb Packaging Market Segmentation

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The honeycomb packaging market share growth in the interior packaging segment will be significant during the forecast period. The end-user expansion with new variants can influence the demand for interior components, thereby influencing the growth of packaging solutions as well during the forecast period. This rise in the number of cars sold will result in original equipment manufacturers (OEM) packaging their products in protective packagings, such as honeycomb die-cuts.

This report provides an accurate prediction of the contribution of all the segments to the growth of the honeycomb packaging market size and actionable market insights on post COVID-19 impact on each segment.

 

Honeycomb Packaging Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.56%

Market growth 2021-2025

$ 689.62 million

Market structure

Fragmented

YoY growth (%)

5.30

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 34%

Key consumer countries

US, China, Germany, UK, and Japan

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

American Containers Inc., Cascades Inc., Corint Group, DS Smith Plc, Honicel Nederland BV, IPC Industrial Packaging Corp., Packaging Corp. of America, Smurfit Kappa Group Plc, Taylor Packaging Ltd., and YOJ pack-kraft

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Honeycomb Packaging Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive honeycomb packaging market growth during the next five years
  • Precise estimation of the honeycomb packaging market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the honeycomb packaging industry across North America, APAC, Europe, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of honeycomb packaging market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis for metal and glass containers market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Type

    • 5.1 Market segments
      • Exhibit 15: Type - Market share 2020-2025 (%)
    • 5.2 Comparison by Type
      • Exhibit 16: Comparison by Type
    • 5.3 Interior packaging - Market size and forecast 2020-2025
      • Exhibit 17: Interior packaging - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Interior packaging - Year-over-year growth 2020-2025 (%)
    • 5.4 Exterior packaging - Market size and forecast 2020-2025
      • Exhibit 19: Exterior packaging - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Exterior packaging - Year-over-year growth 2020-2025 (%)
    • 5.5 Pallets packaging - Market size and forecast 2020-2025
      • Exhibit 21: Pallets packaging - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Pallets packaging - Year-over-year growth 2020-2025 (%)
    • 5.6 Others - Market size and forecast 2020-2025
      • Exhibit 23: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Others - Year-over-year growth 2020-2025 (%)
    • 5.7 Market opportunity by Type
      • Exhibit 25: Market opportunity by Type

    6 Market Segmentation by Material

    • 6.1 Market segments
      • Exhibit 26: Material - Market share 2020-2025 (%)
    • 6.2 Comparison by Material
      • Exhibit 27: Comparison by Material
    • 6.3 Paperboard - Market size and forecast 2020-2025
      • Exhibit 28: Paperboard - Market size and forecast 2020-2025 ($ million)
      • Exhibit 29: Paperboard - Year-over-year growth 2020-2025 (%)
    • 6.4 Plastic - Market size and forecast 2020-2025
      • Exhibit 30: Plastic - Market size and forecast 2020-2025 ($ million)
      • Exhibit 31: Plastic - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Material
      • Exhibit 32: Market opportunity by Material

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 34: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 35: Geographic comparison
    • 8.3 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.4 APAC - Market size and forecast 2020-2025
      • Exhibit 38: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 39: APAC - Year-over-year growth 2020-2025 (%)
    • 8.5 Europe - Market size and forecast 2020-2025
      • Exhibit 40: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 41: Europe - Year-over-year growth 2020-2025 (%)
    • 8.6 MEA - Market size and forecast 2020-2025
      • Exhibit 42: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 43: MEA - Year-over-year growth 2020-2025 (%)
    • 8.7 South America - Market size and forecast 2020-2025
      • Exhibit 44: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 45: South America - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 46: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 47: Market opportunity by geography ($ million)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • Exhibit 48: Impact of drivers and challenges
      • 9.3 Market trends

        10 Vendor Landscape

        • 10.1 Overview
          • Exhibit 49: Vendor landscape
        • 10.2 Landscape disruption
          • Exhibit 50: Landscape disruption
          • Exhibit 51: Industry risks

        11 Vendor Analysis

        • 11.1 Vendors covered
          • Exhibit 52: Vendors covered
        • 11.2 Market positioning of vendors
          • Exhibit 53: Market positioning of vendors
        • 11.3 American Containers Inc.
          • Exhibit 54: American Containers Inc. - Overview
          • Exhibit 55: American Containers Inc. - Product and service
          • Exhibit 56: American Containers Inc. - Key offerings
        • 11.4 Cascades Inc.
          • Exhibit 57: Cascades Inc. - Overview
          • Exhibit 58: Cascades Inc. - Business segments
          • Exhibit 59: Cascades Inc. - Key offerings
          • Exhibit 60: Cascades Inc. - Segment focus
        • 11.5 Corint Group
          • Exhibit 61: Corint Group - Overview
          • Exhibit 62: Corint Group - Product and service
          • Exhibit 63: Corint Group - Key offerings
        • 11.6 DS Smith Plc
          • Exhibit 64: DS Smith Plc - Overview
          • Exhibit 65: DS Smith Plc - Business segments
          • Exhibit 66: ?DS Smith Plc - Key news
          • Exhibit 67: DS Smith Plc - Key offerings
          • Exhibit 68: DS Smith Plc - Segment focus
        • 11.7 Honicel Nederland BV
          • Exhibit 69: Honicel Nederland BV - Overview
          • Exhibit 70: Honicel Nederland BV - Product and service
          • Exhibit 71: Honicel Nederland BV - Key offerings
        • 11.8 IPC Industrial Packaging Corp.
          • Exhibit 72: IPC Industrial Packaging Corp. - Overview
          • Exhibit 73: IPC Industrial Packaging Corp. - Product and service
          • Exhibit 74: IPC Industrial Packaging Corp. - Key offerings
        • 11.9 Packaging Corp. of America
          • Exhibit 75: Packaging Corp. of America - Overview
          • Exhibit 76: Packaging Corp. of America - Business segments
          • Exhibit 77: Packaging Corp. of America - Key offerings
          • Exhibit 78: Packaging Corp. of America - Segment focus
        • 11.10 Smurfit Kappa Group Plc
          • Exhibit 79: Smurfit Kappa Group Plc - Overview
          • Exhibit 80: Smurfit Kappa Group Plc - Business segments
          • Exhibit 81: Smurfit Kappa Group Plc - Key news
          • Exhibit 82: Smurfit Kappa Group Plc - Key offerings
          • Exhibit 83: Smurfit Kappa Group Plc - Segment focus
        • 11.11 Taylor Packaging Ltd.
          • Exhibit 84: Taylor Packaging Ltd. - Overview
          • Exhibit 85: Taylor Packaging Ltd. - Product and service
          • Exhibit 86: Taylor Packaging Ltd. - Key offerings
        • 11.12 YOJ pack-kraft
          • Exhibit 87: YOJ pack-kraft - Overview
          • Exhibit 88: YOJ pack-kraft - Product and service
          • Exhibit 89: YOJ pack-kraft - Key offerings

        12 Appendix

        • 12.1 Scope of the report
          • 12.2 Currency conversion rates for US$
            • Exhibit 90: Currency conversion rates for US$
          • 12.3 Research methodology
            • Exhibit 91: Research Methodology
            • Exhibit 92: Validation techniques employed for market sizing
            • Exhibit 93: Information sources
          • 12.4 List of abbreviations
            • Exhibit 94: List of abbreviations

          Research Framework

          Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

          TechnavioINFORMATION SOURCES

          Primary sources

          • Manufacturers and suppliers
          • Channel partners
          • Industry experts
          • Strategic decision makers

          Secondary sources

          • Industry journals and periodicals
          • Government data
          • Financial reports of key industry players
          • Historical data
          • Press releases
          Technavio

          TechnavioDATA ANALYSIS

          Data Synthesis

          • Collation of data
          • Estimation of key figures
          • Analysis of derived insights

          Data Validation

          • Triangulation with data models
          • Reference against proprietary databases
          • Corroboration with industry experts
          Technavio

          TechnavioREPORT WRITING

          Qualitative

          • Market drivers
          • Market challenges
          • Market trends
          • Five forces analysis

          Quantitative

          • Market size and forecast
          • Market segmentation
          • Geographical insights
          • Competitive landscape
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          Honeycomb Packaging Market market growth will increase by $689.62 mn during 2021-2025.
          The honeycomb packaging market market is expected to grow at a CAGR of 5.56% during 2021-2025.
          Technavio has segmented the honeycomb packaging market market by type (interior packaging, exterior packaging, pallets packaging, and others) ,material (paperboard and plastic) , and geography (North America, APAC, Europe, MEA, and South America).
          American Containers Inc., Cascades Inc., Corint Group, DS Smith Plc, Honicel Nederland BV, IPC Industrial Packaging Corp., Packaging Corp. of America, Smurfit Kappa Group Plc, Taylor Packaging Ltd., YOJ pack-kraft are a few of the key vendors in the honeycomb packaging market market.
          APAC will register the highest growth rate of 34% among the other regions. Therefore, the honeycomb packaging market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
          The key factors driving the honeycomb packaging market market growth are:
          • Growing automotive market in emerging economies
          • Rising trend of using lightweight packaging materials
          The honeycomb packaging market market vendors should focus on grabbing business opportunities from the interior packaging segment as it accounted for the largest market share in the base year.
          • What are the key global market and the regional market share?
          • What are the revenue-generating key market segments?
          • What are the key factors driving and challenging this market’s growth?
          • Who are the key market vendors and their growth strategies?
          • What are the latest trends influencing the growth of this market?
          • What are the variables influencing the market growth in the primary regions?
          • What are the factors influencing the growth of the parent market?
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          • Five-force market analysis

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