The demand within the global honeycomb packaging market is expected to expand on account of the need to transport fragile objects, finds Transparency Market Research (TMR). Honeycomb packaging is believed to be extremely effective and safe as against other forms of manufacturing. The vendors within the global honeycomb packaging market initially entered the market due to the nascence of this form of packaging. Over the years, the key vendors in the global honeycomb packaging market have developed unique packaging products and services to asset their relevance. Hence, the revenue index of these vendors in the global honeycomb packaging market is projected to improve in the years to come.
The leading vendors in the global honeycomb packaging market have followed an all-inclusive approach to growth and advancements. These vendors have infused a mix of marketing hacks, research expertise, and business supremacy in order to retain their position in the market. It is expected that the leading vendors within the global honeycomb packaging market would go an extra mile and acquire the smaller vendors in the years to come. Some of the leading players in the global honeycomb packaging market are BASF SE, Sonoco Products Company, Sealed Air Corporation, ACH Foam Technologies, Inc., and Lsquare Eco-Products Pvt. Ltd.
Transparency Market Research (TMR) finds that the global market for honeycomb packaging would expand at a stellar CAGR of 5.7% over the period between 2016 and 2024. Furthermore, the global honeycomb packaging market is expected to accumulate revenues worth US$14.1 bn by 2024-end, rising up from a value of US$8.6 bn in 2015. On the basis of end-use, the food and beverages industry has emerged as a key consumer of honeycomb packaging. On the basis of geography, the demand for honeycomb packaging in North America is projected to rise at a robust rate.
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