Global honeycomb paperboard packaging market to grow at a CAGR of more than 5% by 2020. One of the key drivers contributing to the growth of this market is the high demand for protective and sustainable packaging.Rise of e commerce is boosting the demand of honeycomb paperboard packaging market globally due to an inevitable need of safe transit of products. The material used for the production of honeycomb paperboard is recyclable, thus a safe option for manufacturers considering the environment point of view. Honeycomb paperboard packaging is an ecological alternative to the traditional packaging or wrapping material.
premium packaging is one of the latest trends gaining traction in this market. The increased purchasing power of consumers and high demand for premium products have given way to the premium packaging of products, which ensures high quality. Owing to the growing consumer demand for premium packaging, vendors are using several expensive elements, technologies, colors, and raw materials to develop premium packs. They are using decorative items made of precious metals and 100% recyclable materials, giving maximum focus on quality.
Honeycomb Paperboard Packaging market by studying various definitions and classification of the industry. In addition to, the applications of the industry and chain structure are given by thorough market research perspective. Furthermore, prime strategically activities in the market initiated by the key players, which includes product developments, mergers and acquisitions, partnerships, etc., are discussed in this report.
The Americas is estimated to continue to dominate the market over the next four years. Much of the region’s growth can be attributed the rising consumer preference for sustainable packaging materials, and increasing awareness about honeycomb paperboard packaging. Factors such as an increase in cross-border trade and a growing demand for online shopping will contribute positively to the growth of the market in the region in the coming years.In 2017, the global Honeycomb Paperboard Packaging market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2018-2025.
Key Player Analysis:
Some major key players in this market are Smurfit Kappa Group, Premier Packaging Products, Cascades Inc., Dufaylite Developments Ltd, Grigeo Klaip?da AB, Eltete TPM Ltd, Pheng Hoon Honeycomb Paper Products Pte Ltd, Eltete Middle East FZE, and Lsquare Eco-Products Pvt. Ltd.