The corrugated bulk bins market is projected to grow from US$ 15.09 billion in 2023 to US$ 22.59 billion by 2031; the market is expected to register a CAGR of 5.2% from 2023 to 2031. The increasing need for durable packaging solutions with the continuously evolving packaging and supply chain management processes in various industries, and the growing demand for convenience food owing to busy lifestyles and disposable incomes are likely to remain key trends driving the growth of the corrugated bulk bins market
The food & beverages industry generates a huge demand for efficient and cost-effective packaging solutions. Corrugated bulk bins are collapsible containers, which makes storage applications more efficient. The food & beverages industry often deals with large quantities of products that need to be transported and stored efficiently. Corrugated bulk bins hold a significant volume of goods, making them ideal for mass transportation and storage. These containers are made from recyclable materials, which makes them an environment-friendly option compared to containers made from plastics. As the food & beverages industry faces increasing pressure to adopt sustainable practices, the demand for recyclable storage and transportation products such as corrugated bulk bins is on the rise in this industry. Thus, the flourishing food & beverages industry drives the corrugated bulk bins market growth.
Corrugated bulk bins are containers whose sides are made from an outer layer, inside layer, and middle layer of a certain raw material. The middle layer of the corrugated bulk bin is fluted in wave-shaped rigid arches to provide support and cushioning for heavy products placed in the bin. These bins are widely used to store and transport bulk quantities of food products and beverages, industrial equipment, pharmaceuticals, construction and building materials, and others.
Triple-wall corrugated bulk bins are made with three layers of corrugated cardboard. As a result, they offer superior strength, durability, and protection compared to single- or double-wall bins. Moreover, with such high structural integrity, these bins can withstand heavy loads and extreme handling conditions compared to other types of corrugated bulk bins. Fast-moving consumer goods are subject to various stresses during long-distance transportation, where utilization of triple-wall bins is necessary to provide robustness to prevent damage. Triple-wall bins ensure safe and secure transportation of bulky and heavy components used or produced in the automotive and industrial sectors, reducing the risk of damage. Triple-wall corrugated bins also exhibit superior stacking strength, allowing for more efficient use of warehouse space. Thus, this type is also preferred in industries such as food & beverages, electronics, agriculture, and pharmaceuticals.
Key manufacturers operating in the corrugated bulk bins market are investing significantly in strategic development initiatives such as product innovation, R&D, mergers and acquisitions, and business expansions to enhance their market position by attracting a broad customer base. Expanding into new geographic locations allows market players to reach untapped customer bases, further increasing their market share and revenue streams. The expansion strategy also allows them to achieve economies of scale by increasing production volumes. In April 2024, Greif Inc announced the construction of a manufacturing facility in Texas, US. With this facility, Greif intends to significantly expand its corrugated bulk bins manufacturing capacity and create opportunities in the South and Southwest regions of the US and in Mexico. In February 2024, Jamestown Container Companies acquired the packaging business of Midwest Box Company Inc in the US. In 2023, Smurfit Kappa opened an integrated corrugated plant in Rabat, Morocco, with an investment of US$ 37.5 million. This manufacturing facility signifies its geographic expansion and efforts to boost customer support in North Africa.
Key segments that contributed to the derivation of the corrugated bulk bins market analysis are type, form, and application.
In terms of geography, the corrugated bulk bins market is primarily segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. Asia Pacific held the largest market share in 2023 and is expected to register the highest CAGR during the forecast period. Market growth in the region is attributed to the increased demand for these bins from the food & beverages industry. The region is the largest producer and exporter of rice and grain crops. According to the US Department of Agriculture, the US imports vast volumes of rice from Asian countries. For instance, in 2023, Australia exported 38,600 tons of short-grain and medium-grain milled rice to the US. With the growing food & beverages industry in Asia Pacific, the demand for corrugated bulk bins is also growing for packaging purposes.
The regional trends and factors influencing the Corrugated Bulk Bins Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Corrugated Bulk Bins Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 15.09 Billion |
| Market Size by 2031 | US$ 22.59 Billion |
| Global CAGR (2023 - 2031) | 5.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Corrugated Bulk Bins Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Corrugated Bulk Bins Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The corrugated bulk bins market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
The “Corrugated Bulk Bins Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies - Corrugated Bulk Bins Market
The continuous growth of the food & beverages industry and rising demand for triple-wall corrugated bulk bins fuel the market growth.
The integration of RFID in corrugated bulk bins is expected to emerge as a future trend in the market.
DS Smith Plc, WestRock Co, Smurfit Kappa Group Plc, Mondi plc, Packaging Corp of America, Monte Package Company LLC, Atlantic Packaging Products Ltd., Greif Inc, Georgia-Pacific LLC, Elsons International, Cartocor SA, Hobbs Container Co, Indevco Paper Containers, International Paper Co, Napco National, Reusable Transport Packaging, The Cary Company, and Tri-Wall Limited are among the leading market players.
The market is expected to register a CAGR of 5.2% during 2023–2031.
The pallet segment held the largest share in the global corrugated bulk bins market in 2023.
The triple-walled segment held the largest share in the global corrugated bulk bins market in 2023.