Honeycomb paperboard packaging: Key market research findings
- The Americas dominate the market geographically
- Honeycomb paperboard interior packaging segment is the key revenue generating vertical of the market
- Key vendors – Smurfit Kappa, PCA, and Cascades
Technavio’s market research analysts predict the global honeycomb paperboard packaging market to grow at a CAGR of around 6% between 2016 and 2020. The growth of this market can be accredited to the increasing application of honeycomb paperboard packaging in the e-commerce industry. The need to deliver products within small time frames without damages is spurring an increase in the adoption of protective packaging solutions like honeycomb paperboard packaging among vendors in the e-commerce industry. The Americas accounted for almost 38% of the overall market share during 2015 to become the dominant shareholder of the global market. Consumer preference for sustainable packaging materials, an increase in cross-border trade, growing demand for online shopping, and rising awareness of honeycomb paperboard packaging will drive the growth of the market in the Americas over the next four years.
The new market research report from Technavio presents a breakdown and analysis of the honeycomb paperboard packaging segments based on the type.
“The market is currently witnessing an increase in the demand for premium packaging. Consumers are looking for products with premium packaging, especially for premium consumer products such as cosmetics and other household items, as they associate premium packaging as an indication of high-quality products. Another reason driving the demand for premium packaging is because premium-packaged products are given these as gifts. This trend is particularly prominent in developed and mature markets such as the US, Japan, and Western Europe,” says Sharan Raj, Lead Analyst, Transportation & Logistics, Technavio Research.
The honeycomb paperboard interior packaging segment accounted for around 36% of the overall market share to become the key revenue generating vertical of the global market. Honeycomb paperboard interior packaging is widely used as it is shock resistant, provides cushioning, and can be molded into any shape. Honeycomb paperboard is mainly used in the interior packaging segment for in-box packaging and void filling.
The key vendors in the global honeycomb paperboard packaging market include Smurfit Kappa, PCA, and Cascades. The vendors in the market are focused on the development of products that are safe, easy-to-use, and cost-effective. Majority of the global players have their manufacturing plants and principle market in North America and Western Europe. For example, PCA had around 90 manufacturing facilities within the US itself in 2015, and only 30 outside this region. Another big vendor, Cascades, has businesses within North America, mainly in Canada.
A more detailed analysis is available in the Technavio report, Global Honeycomb Paperboard Packaging Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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