Corrugated Bulk Bins Market Size, Share, Trends, Growth 2030

Corrugated Bulk Bins Industry Prospective:

The global corrugated bulk bins market size was worth around 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.

The report analyzes the global corrugated bulk bins market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the corrugated bulk bins industry.

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Corrugated Bulk Bins Market: Overview

Corrugated bulk bins are packaging or storage units developed from corrugated cardboard. They are used for the storage and transportation of bulk products, such as agricultural produce, dry goods, and industrial materials. The term ‘corrugated’ means a material or a surface that has a series of grooves or ridges. The industry deals with the designing, manufacturing, and distribution of corrugated bulk bins across end-user verticals. In recent years, as the demand for sustainable packaging solutions has increased, the industry has also thrived.

Other advantages of using corrugated bulk bins have also resulted in greater demand for the products. However, the corrugated bulk bins industry is also highly competitive especially due to the growing number of players entering the packaging sector. During the forecast period, the industry players may expect several growth opportunities while they may also have to navigate through certain challenges.

Key Insights: 

• As per the analysis shared by our research analyst, the global corrugated bulk bins system market is estimated to grow annually at a CAGR of around 4.32% over the forecast period (2023-2030)
• In terms of revenue, the global corrugated bulk bins market size was valued at around USD 12.236 billion in 2022 and is projected to reach USD 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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Corrugated Bulk Bins Market: Growth Drivers

Growing demand for sustainability to propel market growth

The global corrugated bulk bins market is projected to grow owing to the increasing demand for sustainable solutions especially in the packaging and storage sector. It is one of the highly environment-polluting sectors which has led to a tremendous amount of waste generation. Several regional packaging industries lack the presence of an effective disposal system which leads to further damage to the environment. .However, due to the mounting pressure of businesses along with the growing awareness rate amongst the population about the ill impact of poor consumption choices, the demand for sustainable solutions is on the rise. Corrugated bulk bins are derived from renewable sources which are wood pulp. It can be easily harvested and renewed.

Corrugated Bulk Bins Market: Restraints

Growing competition from alternatives to restrict market growth

One of the key growth restraints existing in the global corrugated bulk bins market is in the form of growing competition from alternatives that are present in the packaging sector. Although corrugated bulk bins hold favorable responses from the end-users, a larger part of the potential consumer groups still relies on alternative solutions. For instance, storing units made out of plastic or metal, since they also offer certain associated advantages and their application depends on various external factors like personal choice and availability of corrugated bulk bins in the region.

Corrugated Bulk Bins Market: Opportunities

Growth in e-commerce segment to provide multiple growth opportunities

The corrugated bulk bins industry size is expected to grow further owing to the rising expansion of the e-commerce segment which is one of the leading causes of higher demand in the packaging sector. As the sales revenue from various online portals including social media and e-commerce websites grow, the demand for sustainable packaging solutions is expected to rise. Factors like increasing use of smartphones & other devices, access to cheap internet, and lucrative offers on e-commerce portals are some of the crucial reasons why many people choose to use web-based shopping sites to make small or large purchases.

Corrugated Bulk Bins Market: Challenges

Pressure to reduce costs may act as a challenge for the industry

The production and maintenance of corrugated bulk bins may be more expensive than the manufacturing of other alternatives. This may lead to the corrugated bulk bins industry players coming under pressure to reduce the cost of the final good which may not align with the profit goal of the trading companies. Furthermore, any impact on the initial price of the main source material which is wood pulp, directly impacts the final piece of the corrugated bulk bins, thus impacting the overall supply chain.

Corrugated Bulk Bins Market: Segmentation

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

Based on load capacity, the global market segments are more than 1500 kg, 1000-1500 kg, and below 1000 kg. In 2022, the industry witnessed the highest growth in the 1000-1500 kg segment since they are most commonly used in various end-user industries like agriculture, food, and automotive. Load capacities in the range of below 1000 kg are mostly used for lighter or smaller products. The least common type used is the ones above the range of 1500 kg which is used for heavier products. The bins in the range of 1000-1500 kg are more versatile since they can transport a wide range of products. They also offer better sturdiness and maneuverability. As per the Indian Paper Manufacturers Association (IPMA), the country produced 23.77 million metric tonnes of wood pulp in 2019-2020.

Based on type, the corrugated bulk bin industry divisions are hinged, pallet packs, and others.

Based on format, the global market segments are triple wall, double wall, single wall, and others. The industry is expected to witness the highest growth in the double wall segment during the forecast period. These cardboards are made of 2 layers of cardboard along with the presence of a linerboard in between the two layers. This provided the entire structure with more durability and strength. Tripe wall bins consist of an additional layer of linerboard and corrugated cardboard and are most commonly used for heavy-duty applications. Double wall bins exhibit a load capacity of between 500 to 1500 kg.

Recent Developments:

• In July 2020, Sabert Corporation, a leading producer of innovative food packaging products and corresponding solutions, announced the launch of the Kraft collection, its new addition to the existing range of sustainable packaging solutions. The collection is made of a wide range of corrugated and paperboard food packaging solutions which can be recycled. They are also compostable thus focusing on improved sustainability
• In June 2022, Smurfit Kappa, one of Europe’s leading corrugated packaging companies, announced its plan to build a new corrugated packaging facility in the Morocco region. The company aims to provide better service to its existing regional client base in the North African country. The investment is expected to be close to USD 37.37 million and may generate over 300 associated jobs

Corrugated Bulk Bins Market: Report Scope

Corrugated Bulk Bins Market: Regional Analysis

North America to continue its dominance

The global corrugated bulk bins market is expected to witness the highest growth in North America since it is currently one of the largest contributors to the industry. The main reason for the high regional CAGR is the growing demand for bulk packaging options while being sustainable. The US government has intensified its regulations surrounding sustainability across business units and sectors leading to more end-users opting for eco-friendly packaging options.

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Furthermore, the presence of key industry players investing in further development of the regional market with the aid of building new manufacturing facilities that can produce a large number of products in a shorter time is essential to the North American market. As the demand in the food & beverages sector is on the rise in Asia-Pacific, the requirement for corrugated bulk bins is projected to rise alongside. China, India, South Korea, and Japan could be leading contributors.

Corrugated Bulk Bins Market: Regional Analysis

The global corrugated bulk bins market is:

• 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

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

By Region

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