Global Corrugated Bulk Bins Market Size/Share Revenue is Projected to Grow Around $16.942 Billion by 2030, growing at a CAGR of 4.3%

Houston, TX, April 28, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Corrugated Bulk Bins Market By Load Capacity (More Than 1500 Kg, 1000 -1500 Kg, And Below 1000 Kg), By Type (Hinged, Pallet Packs, And Others), By Format (Triple Wall, Double Wall, Single Wall, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Corrugated Bulk Bins Market size & share in terms of revenue was valued at USD 12.236 billion in 2022 and it is expected to surpass around USD 16.942 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 4.32% during the forecast period 2023 to 2030.”

What are Corrugated Bulk Bins? How big is the Corrugated Bulk Bins Industry?

Report Overview:

The global corrugated bulk bins market size was valued at USD 12.236 Billion in 2022 and is predicted to grow to around USD 16.942 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.32% between 2023 and 2030.

Corrugated bulk bins are large, sturdy containers designed for shipping and storing bulk quantities of goods. They are made from corrugated cardboard, a type of material that is lightweight yet strong enough to withstand the rigors of transportation. These bins come in various sizes & shapes and are commonly used in the agriculture, food processing, and manufacturing industries. They offer several advantages over other types of containers, including their low cost, recyclability, and ease of customization. Corrugated bulk bins can also be collapsed and stacked when not in use, making them an efficient storage solution. Additionally, these bins can be printed with branding and product information, helping to promote products and create a professional image.

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Global Corrugated Bulk Bins Market: Growth Factors

The global corrugated bulk bin market is driven by various factors, such as the growing demand for sustainable & eco-friendly packaging solutions, the increasing need for efficient transportation and storage of goods, and the rising adoption of automation in the manufacturing industry. The market also presents opportunities for players to offer customized and innovative solutions that cater to specific industry needs, such as temperature-controlled bins for the food industry.

However, the corrugated bulk bins industry also faces certain challenges, such as the high competition from alternative packaging materials, fluctuations in raw material prices, and the limitations of corrugated cardboard in terms of durability and moisture resistance. The market players need to address these challenges by developing more durable and moisture-resistant corrugated materials and leveraging technology to enhance their production and delivery processes.

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Report Scope

Corrugated Bulk Bins Market: Segmentation Analysis

The global corrugated bulk bins market is segmented based on load capacity, type, format, and region.

Based on load capacity, the market is segmented into more than 1500 kg, 1000-1500 kg, and below 1000 kg. The 1000-1500kg segment held the largest market share in 2022 and is further projected to grow rapidly at a remarkable CAGR during the forecast period. This growth can be attributed to the increasing demand for large-capacity containers that can transport and store bulk quantities of goods, particularly in industries such as agriculture, food processing, and manufacturing. Moreover, as businesses strive for greater efficiency and cost savings in their supply chain operations, the use of larger containers such as the 1000-1500 kg corrugated bulk bins can help to reduce transportation costs, as fewer trips are required to move the same amount of goods. Therefore, the 1000-1500 kg segment of the corrugated bulk bin market presents a significant growth opportunity for players, who must continue to innovate and develop new products that cater to the specific needs of different industries, while also ensuring that their offerings are sustainable, efficient, and cost-effective.

Based on type, the corrugated bulk bins industry is segmented into hinged, pallet packs, and others. The hinged segment held the dominating market share in 2022 and is further projected to grow remarkably during the forecast period. This is mainly because the hinged segment is a common and popular type of corrugated bulk bin that is widely used in various industries, including agriculture, food processing, and retail. Hinged bulk bins are designed to be collapsible, making them easy to transport and store when not in use. They are also durable and can withstand the rigors of transportation, ensuring that goods arrive at their destination in good condition. These factors drive the growth of the segment during the forecast period.

Based on format, the market is bifurcated into triple wall, double wall, single wall, and others. The double wall segment held the dominating market share in 2022 and is further predicted to surge rapidly during the forecast period.

The global Corrugated Bulk Bins market is segmented as follows:

By Load Capacity

• More Than 1500 Kg
• 1000 -1500 Kg
• Below 1000 Kg

By Type

• Hinged
• Pallet Packs
• Others

By Format

• Triple Wall
• Double Wall
• Single Wall
• Others

Browse the full “Corrugated Bulk Bins Market By Load Capacity (More Than 1500 Kg, 1000 -1500 Kg, And Below 1000 Kg), By Type (Hinged, Pallet Packs, And Others), By Format (Triple Wall, Double Wall, Single Wall, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/corrugated-bulk-bins-market

Competitive Landscape

Some of the main competitors dominating the global Corrugated Bulk Bins market include - 

• WestRock Company
• Smurfit Kappa Group
• Nine Dragons Paper (Holdings) Limited
• Mondi Group
• DS Smith Plc
• International Paper Company
• Svenska Cellulosa Aktiebolaget SCA
• Sonoco Products Company
• Lee & Man Paper Manufacturing Limited
• Georgia-Pacific LLC
• Oji Holdings Corporation
• Norampac Industries Inc.
• Packaging Corporation of America
• Rengo Co. Ltd.
• Klabin S.A.
• Pratt Industries Inc.
• Stora Enso Oyj
• Cascades Inc.
• VPK Packaging Group NV
• Grupo Gondi
• UPM-Kymmene Corporation

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Corrugated Bulk Bins market is likely to expand at a CAGR of around 4.32% during the forecast period (2023-2030).                                
• In terms of revenue, the Corrugated Bulk Bins market size was valued at around US$ 12.236 billion in 2022 and is projected to reach US$ 16.942 billion by 2030.
• The corrugated bulk bins market is projected to grow at a significant rate due to the growing demand for sustainability.
• Based on format segmentation, the double wall was predicted to show maximum market share in the year 2022.
• Based on load capacity segmentation, 1000-1500 kg was the leading capacity in 2022.
• On the basis of region, North America was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Corrugated Bulk Bins industry?
• What are the main driving factors propelling the Corrugated Bulk Bins Market forward?
• What are the leading companies in the Corrugated Bulk Bins Industry?
• What segments does the Corrugated Bulk Bins Market cover?
• How can I receive a free copy of the Corrugated Bulk Bins Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Load Capacity, By Type, By Format, And By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The North American region held the largest corrugated bulk bins market share in 2022 and is further projected to grow exponentially during the forecast period. The corrugated bulk bin market in North America is expected to witness steady growth in the coming years, driven by factors such as the increasing adoption of sustainable packaging solutions, the growth of the e-commerce industry, and the rising demand for efficient transportation and storage solutions. Additionally, the region's established manufacturing base and supply chain infrastructure make it an attractive market for corrugated bulk bin manufacturers.

The food and beverage industry is expected to be a major contributor to the growth of the corrugated bulk bin market in North America, particularly as companies seek to reduce their carbon footprint and adopt more eco-friendly packaging solutions. Furthermore, the region's strict environmental regulations and initiatives aimed at promoting sustainability are likely to fuel the adoption of corrugated bulk bins. Thus, the North American corrugated bulk bin market presents a significant growth opportunity for players, who must stay ahead of the competition by developing innovative and sustainable solutions that cater to the specific needs of different industries.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

• In February 2021, DS Smith Plc announced the launch of a new line of circular corrugated bulk bins, designed to be more sustainable and eco-friendlier. These bins are made from 100% recycled materials and can be recycled after use. The company also partnered with a major retailer to pilot the use of these bins in their supply chain.
• In September 2021, Smurfit Kappa announced the expansion of its corrugated packaging plant in Texas, USA, to meet the growing demand for sustainable packaging solutions. The expansion included the addition of new equipment and technology to enhance the plant's efficiency and production capacity.
• In July 2021, Cascades Inc. announced the launch of a new line of corrugated bulk bins made from recycled plastic. These bins offer superior strength and durability compared to traditional cardboard bins, making them ideal for heavy-duty applications. The company plans to expand its production of these bins in the coming years

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FREQUENTLY ASKED QUESTIONS

• What is the corrugated bulk bins?
• Which key factors will influence corrugated bulk bins market growth over 2023-2030?
• What will be the value of the corrugated bulk bins market during 2023-2030?
• What will be the CAGR value of the corrugated bulk bins market during 2023-2030?
• Which region will contribute notably towards the corrugated bulk bins market value?
• Which are the major players leveraging the corrugated bulk bins market growth?

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