Hexacomb Packaging Market

Analysis from GMI Research finds that the Hexacomb Packaging Market earned revenues of USD 14.1 billion in 2022 and estimated to touch USD 23.3 billion in 2030 will grow at a CAGR of 6.5% from 2023-2030

Hexacomb Packaging Market Overview

Hexacomb packaging refers to the heavy paperboard packaging solutions that are majorly used for transportation because of their high durability. Hexacomb packaging serves as protective packaging solutions for furniture, electronics, FMCG products, etc. These packaging boxes are easy to design and are available in a different range of shapes and sizes.

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Major Hexacomb Packaging Market Drivers

Rising modernization, urbanization, and globalization are propelling the growth of the hexacomb packaging market. Increasing demand for hexacomb packaging solutions by transportation and logistics industries, and rising expansion of the food and beverages industry has also boosted the growth of hexacomb packaging market size. Moreover, an increase in the development of sustainable packaging from various sectors, including the furniture, vehicle, and consumer products industries, is the most substantial driver for the market growth. The expanding desire for the e-Commerce sector boosted by the growing use of smartphones has resulted in expansion of the packaging business, which has, in turn, accelerated the rise of hexacomb wrapping. Furthermore, stringent government regulation by a government agency such as the U.S. Environmental Protection Agency and other regulatory bodies on the environmental hazards of the material used in flexible packaging such as plastic and aluminum is expected to drive the market growth.

Restraint in the Hexacomb Packaging Market

However, the high initial cost of hexacomb packaging material and fluctuations in the prices of raw materials will hamper the market growth. Moreover, a lack of awareness and consciousness in underdeveloped economies will hinder the hexacomb packaging market growth rate.

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Packaging Type – Segment Analysis

Based on the Packaging Type, exterior packaging is expected to grow at a higher CAGR in the global hexacomb packaging market during the forecast period. Exterior packaging is widely used in transportation and logistics due to its various advantages. It enhances the safety in product transportation and is easy to handle & carry.

End-Use Industry – Segment Analysis

Based on the End-Use Industry, the automotive segment is projected to grow at a higher CAGR in the global hexacomb packaging market during the forecast period. Protective packaging is a crucial part of the automotive supply chain. Hexacomb packaging is an effective method for packaging automotive bulky products as it provides more safety while transporting the product from one place to another. Thus, this factor is propelling segmental growth.

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Regional – Segment Analysis:

Based on the region, the Asia Pacific region is expected to grow at a higher CAGR in the global hexacomb packaging market during the forecast period due to increasing demand for packaging from automotive and e-Commerce sectors in emerging economies such as China and India. For instance, according to IBEF, in 2021, the total e-commerce sales were recorded around USD 52.57 billion in 2020. Moreover, the easy availability of raw materials and increased personal disposable income of consumers are also fuelling the market’s growth.

Top Market Players

Various notable players operating in the market, include, Base SE, Huhtamaki, Constantia Flexibles, Sonoco Products Company, Mondi, Smurfit Kappa, Amcor plc, DS Smith, Sealed Air, GreenPackaging, among others.

Key Developments:

• • In 2020, Smurfit Kappa launched new sustainable packaging for frozen food products which will keep fresh throughout the supply chain. New pack is a 100% paper-based combination of Hexacomb and corrugated.

Segments covered in the Report:

The global Hexacomb Packaging Market has been segmented on the basis of Packaging Type, End-Use Industry, Product Type, and regions. Based on Packaging Type, the market is segmented into Exterior packaging, Interior packaging and Others. Based on End-Use Industry, the market is segmented into Automotive, Building & Construction, Household Appliances, Food & Beverage and Others. Based on Product Type, the market is segmented into Container, Boxes, Cartons and Others.

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Market Segmentation

Global Hexacomb Packaging Market by Packaging Type

• • Exterior packaging
  • Interior packaging
  • Others

Global Hexacomb Packaging Market by End-Use Industry

• • Automotive
  • Building & Construction
  • Household Appliances
  • Food & Beverage
  • Others

Global Hexacomb Packaging Market by Product Type

• • Container
  • Boxes
  • Cartons
  • Others

Global Hexacomb Packaging Market by Region

• • North America Hexacomb Packaging Market (Option 1: As a part of the free 25% customization)

    • By Packaging Type
    • By End-Use Industry
    • By Product Type
    • US Market All-Up
    • Canada Market All-Up

  • Europe Hexacomb Packaging Market (Option 2: As a part of the free 25% customization)

    • By Packaging Type
    • By End-Use Industry
    • By Product Type
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Hexacomb Packaging Market (Option 3: As a part of the free 25% customization)

    • By Packaging Type
    • By End-Use Industry
    • By Product Type
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Hexacomb Packaging Market (Option 4: As a part of the free 25% customization)

    • By Packaging Type
    • By End-Use Industry
    • By Product Type
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Hexacomb Packaging Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Base SE
  • Huhtamaki
  • Constantia Flexibles
  • Sonoco Products Company
  • Mondi
  • Smurfit Kappa
  • Amcor plc
  • DS Smith
  • Sealed Air
  • GreenPackaging