As businesses becomes increasingly globalized, the demand for better packaging solutions has grown significantly. Convenience, ease of use and ease of transport are the three major factors that are considered when it comes to selecting the right packaging medium. The growth of the organized sector and e-commerce industry are the two key drivers of innovations in the global packaging market. According to analysts at Technavio, transparent barrier films and honeycomb paperboard packaging are the two major advancements in this industry.
Honeycomb paperboard packaging
An ideal substitute for corrugated boxes and expanded polystyrene (EPS), honeycomb paperboards provide greater cushioning, are light in weight and high in strength. Also, as they have good printing surfaces, they make eye-catching packaging material. Most of all, renewable raw materials are used to manufacture honeycomb so that it can easily be recycled and the carbon footprint can be reduced.
In 2015, the Americas held the largest share of the global honeycomb paperboard packaging market. EMEA and APAC held the second and third places, respectively. Increasing demand for premium packaging along with the trend towards adopting sustainable packaging solutions has propelled the market for honeycomb paperboards. Research analysts predict that, by 2020, the global market for Honeycomb packaging will post a CAGR of 5%. Smurfit Kappa Group, Packaging Corporation of America, and Cascades are some of the key vendors of honeycomb paperboards.
Transparent barrier packaging films
Microwave compatibility and the ability to extend the shelf-life of products are the key reasons behind the popularity of transparent barrier packaging films. Transparent barrier films are usually made of plastic, as it is lightweight, non-corrosive, and relatively cheaper than other materials, and can be molded into different shapes.
Advantages of transparent barrier packaging films
Source: Technavio
Market analysts believe that, as the demand for biodegradable and soluble films will grow in the next five years, the market for transparent barrier films will also grow substantially. In fact, manufacturers are shifting towards sustainable, specialty, and high-performance films for pharmaceuticals, health products, and other edibles.
Analyzing innovations in the global packaging market also means taking into account packaging inks and coatings as well. Packaging inks play a crucial role in improving the visibility of products on sale. Also, as the market for flexible packaging products such as bags and pouches is growing, the demand for packaging inks and coatings has also witnessed a increase. Apart from flexible packaging products, the food and beverage market account for a huge share of the packaging inks and coatings market. In 2015, the food sector held 25%, and the beverages sector held 33% of the market.
To overcome competition, vendors are experimenting with inkjet technology, water-based ink, LED inks, inks from recycled ink cartridged, faster printing technology, and sustainable inks and coatings. On the whole, the packaging industry is going through a period in which a number of technological innovations are taking place. It is predicted that in the next five years, packaging will become more sustainable, eco-friendly and highly competitive in nature.
Want to find out how honeycomb paperboard packaging can help your business?
Order the 2016-2020 Report on the Global Honeycomb Paperboard Packaging Market
You might also be interested in:
The 2016-2020 Report on Global Transparent Barrier Packaging Film Market
The 2016-2020 Report on Global Packaging Inks and Coatings Market
