Corrugated Bulk Bins Market Forecasts to 2028 - Global Analysis By Type, Material, Format, Load Capacity, Application and By Geography

According to Stratistics MRC, the Global Corrugated Bulk Bins Market is accounted for $13.08 billion in 2022 and is expected to reach $18.76 billion by 2028 growing at a CAGR of 6.2% during the forecast period. Corrugated Bulk Bins have properties like sustainability, recyclability, and adaptability, and corrugated board is one of the most commonly used materials to make containers, including corrugated bin boxes. Because corrugated materials perform so well, manufacturers are choosing them over more traditional materials. High percentages of recovered fibers, including used newspapers, kraft paper, mixed papers, and old corrugated containers, are used in the production of these boxes, which are made from naturally renewable resources.

Market Dynamics:

Driver:

Rising demand from various industries

The demand for corrugated bulk bins is expected to increase from a variety of end-use industry verticals in the coming years, including the pharmaceutical and food and beverage industries. Other significant factors for the growth of the global corrugated bulk bins market for goods and services include the quick development of contemporary retailing, the significant acceleration of industrial activity, and rising consumer income in emerging and developing economies. The demand for bulk packaging solutions has increased as more people purchase daily essentials and fresh food online.

Restraint:

Lack of awareness & high cost of bins

Small and medium-sized businesses aren't aware of the advantages of using corrugated bulk bins. This is a result of SMEs being ignorant of the advantages of using corrugated bulk bins, such as lowering the cost of packaging and enhancing product safety. They are therefore hesitant to spend money on these bins. Additionally, a significant obstacle to the market's expansion is the high price of corrugated bulk bins. Bulk containers made of corrugated material are more expensive than those made of plastic or metal. This is due to the complicated nature of the corrugated bulk bin manufacturing process and the need for specialized equipment.

Opportunity:

Usage of renewable & biodegradable packaging

Due to their sustainability, recyclability, and adaptability, corrugated bin boxes are among the most popular. Because corrugated materials perform so well, manufacturers are choosing them over more traditional materials. Corrugated bulk bins are primarily made of wood pulp as a raw material. Consumers and commodity producers now use packaging that is recyclable and friendly to the environment. Therefore, a major contributing factor to the expansion of the global market for corrugated bulk bins is that these corrugated bulk bins are recyclable.

Threat:

Availability of low cost alternatives

There are a few alternatives that corrugated bulk bins compete with. Jute sacks and corrugated plastic boxes are two such substitutes that are more cost-effective, attractive, and long-lasting than corrugated bulk bins. Contrary to corrugated bulk bins, corrugated plastic boxes can withstand rain, moisture, and snow and are reusable, water-resistant, and have a longer shelf life. In addition, producing a plastic box is less expensive than producing a corrugated bulk container. This has aided in its broad adoption in the packaging sector. Therefore, the availability of affordable alternatives might serve as a market restraint for corrugated bulk bins.

Covid-19 Impact

During the COVID-19 pandemic panic buying as well as bulk stocking was observed. The demand for bulk packaging solutions has risen as a result of this as well as an increase in the number of people ordering fresh food and daily necessities online. Because they are afraid of lockdowns, people are turning to panic buying. Daily necessities and fresh food are being ordered more frequently online, which raises the need for bulk packaging solutions. In order to prevent supply-side shocks, shortages, and interruptions in supply, the governments of many affected nations, including India, have asked the players in the food industry to increase production.

The food & beverage segment is expected to be the largest during the forecast period

Over the forecast period, the Food & Beverage segment is anticipated to register the largest share. The demand for corrugated packaging is being driven by the rising demand for packaged food, beverages, and other consumer goods. Additionally, the market is expanding due to the fast globalization of the food and beverage industry through a variety of distribution channels, including online channels and e-commerce.

The pallet packs segment is expected to have the highest CAGR during the forecast period

The Pallet packs segment is anticipated to have the highest CAGR over the course of the forecast period. The rise in demand for convenient and long-lasting packaging solutions across end-use industries is what's causing the demand for pallets to increase. Pallet packs are in demand more than the other types of packs because tracking technologies built into them help with supply chain monitoring. Additionally, demand for pallets for their packaging applications has also increased as a result of the expanding opportunities in the offline and online retail industries.

Region with largest share:

Due to the improvements in the world economy, rising regional demand for convenience and ready-to-eat packaged food items, and an increase in the number of workers in the area. The Asia Pacific region is anticipated to witness largest share in the global corrugated bulk bins market during the forecast period. In addition, rising demand from local industries like those in the food, chemical, consumer goods, automotive, and pharmaceutical are anticipated to accelerate the growth trajectory of the Asia Pacific corrugated bulk bins market in the ensuing years.

Region with highest CAGR:

The Asia Pacific region is anticipated to witness lucrative growth throughout the forecast period. The expanding economy and rising domestic demand for packaged and ready-to-eat food products are to blame for this. Due to the high demand for convenience foods, the region's market will also benefit significantly from the region's growing working population, particularly the growing number of working women. Additionally, the region's residents' rising disposable income is probably going to increase their purchasing power, which will amplify the expansion of the local market.

Key Players in the market

Some of the key players profiled in the Corrugated Bulk Bins Market include B&B Triplewall Containers Ltd, DS Smith Plc, Elite Packaging, Georgia-Pacific, LLC, International Paper Company, Jayaraj Fortune Packaging Pvt. Ltd, Larsen Packaging Products Inc., Greif Inc., Mondi, Orora Packaging Australia Pty Ltd, Sonoco Products Company, Supack Industries Pvt. Ltd, WestRock Company, Packaging Corporation of America, Saica Group and Smurfit Kappa.

Key Developments:

In January 2023, DS Smith, the leading provider of sustainable packaging solutions, and E.ON, one of Europe's largest operators of energy networks and infrastructure, today announced ambitious plans for a new Waste To Energy (WTE) and Combined Heat and Power plant at the Aschaffenburg paper mill in Germany. The new plant will combine technologies to generate energy from production waste at the site with a highly efficient combined heat and power process.

In August 2022, DS Smith developed new sustainable alternative to shrink wrap for PET bottle multipack. DS Smith is collaborating with Krones to develop an alternative solution to shrink wrap on PET bottle multipack called the ECO Carrier.

Types Covered:

• Pallet Packs
• Hinged
• Totes
• Wire Retractors
• Other Types

Materials Covered:

• Polypropylene
• Polyethylene
• Polyethylene Terephthalate
• Others Materials

Formats Covered:

• Single-Wall
• Double-Wall
• Triple-Wall
• Other Formats

Load Capacities Covered:

• Below 1000 KG
• 1000-1500 KG
• More Than 1500 KG

Applications Covered:

• Automotive
• Building & Construction
• Chemical
• Food & Beverage
• Oil & Lubricant
• Pharmaceutical
• Other Applications

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances