LONDON--(BUSINESS WIRE)--Technavio's latest report on the global honeycomb packaging market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global honeycomb packaging market is growing due to factors, such as rising automotive sales in emerging economies and growing global e-commerce sales. One of the factors for the growing automotive and e-commerce sales is the rising disposable income of the consumers.
Shakti Jakhar, a lead analyst from Technavio, specializing in research on packaging sector, says, "There are certain market impeding factors, such as the growing stock keeping unit proliferation and rising demand for alternatives. Due to the growing SKU proliferation, it becomes a challenge for the companies to design various types of packaging, such as packaging dividers for various packages or die-cuts for various shapes."
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.
The top three emerging trends driving the global honeycomb packaging market according to Technavio research analysts are:
- Rising trend of using lightweight packaging materials
- Rising popularity of ship from store
- Growing innovation in protective packaging market
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Rising trend of using lightweight packaging materials
There is an increased focus on using lightweight packaging to reduce the weight of packaging. This is done to use less packaging material and reduce the cost. Hence, lightweight container board was developed. Due to reduced weight, the shipping cost is also reduced. This is because generally shipping services providers charge companies according to the weight of the package.
"Lightweight container board is corrugated board with base weight less than around 24 to 28 lbs per thousand square feet. The manufacturing process of lightweight containerboard requires a different corrugating process than the regular corrugated board," according to Shakti.
Rising popularity of ship from store
There is an increased demand from the consumers due to the rise in e-shopping. To meet the consumer demand, companies are coming up with omnichannel approaches. One of the methods of omnichannel is ship from store. Ship from store is the fulfillment process by which retailers use the stock in any of the retail stores to complete an order, which was received from any channel, such as online order.
The ship from store strategy allows companies to use the stocks available in retail outlets. This strategy also decreases the chances of having clearance sales at a later time due to the non-selling of the products. This way companies can increase their profits as they sell the item at markup price instead of discounted price later in a sale.
Growing innovation in protective packaging market
Many protective packaging companies are coming up with innovate solutions to reduce the environmental impact of protective packaging. IPC, one of the global manufacturers of temperature control materials, manufactured an eco-friendly product named Ecoliner. Ecoliner is made of ultra-insulating recycled cotton sandwiched by the eco-friendly plastic liner.
The regulatory bodies for packaging are also encouraging these types of biodegradable materials. Hence, honeycomb packaging companies will also need to come up with new innovative ideas to reduce the space occupied by the protective packaging material at the warehouse. At the same time, it must be environment-friendly.
Key vendors:
- DS Smith
- Smurfit Kappa Group
- Packaging Corporation of America
- Cascades
Browse Related Reports:
- Global Packaging Market 2017-2021
- Global Industrial Packaging Market 2017-2021
- Global Isothermal Packaging Market 2017-2021
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
