Corrugated Bulk Bins Market 2031 Revenue to Reach USD 22.58 Billion, Driven by Continuously Growing Food & Beverages Industry

US & Canada, Nov. 27, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the Global Corrugated Bulk Bins Market Size and Growth 2031 is observing significant growth owing to the continuous growth of the food & beverages industry and rising demand for triple-wall corrugated bulk bins.

The corrugated bulk bins market focuses on an array of products that are expected to contribute to its strength in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.

The report from The Insight Partners, therefore, provides several stakeholders—including raw material providers, manufacturers, distributors/suppliers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

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Overview of Report Findings

1. Market Growth: The corrugated bulk bins market is expected to reach US$ 22.58 billion by 2031 from US$ 15.08 billion in 2023, recording a CAGR of 5.2% during the forecast period. Corrugated bulk bins are bulk containers whose sides are made of multiple layers of materials, including an outer layer, an inside layer, and a middle layer. The middle layer of corrugated bulk bins 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 and beverages, industrial equipment, pharmaceuticals, construction and building materials, etc.
   
   
2. Continuous Growth of Food & Beverages Industry: 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. As per the US Department of Transportation's Freight Analysis Framework – 2023, the freight volumes of cereal grains, seafood/meat, and milled grains transported to the US in 2023 were 1.19 million tons, 112,050 tons, and 156,863 tons, respectively. 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.
   
   
3. Rising Demand for Triple-Wall Corrugated Bulk Bins: 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-wall 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.
   
   
4. Geographical Insights: In 2023, Asia Pacific led the market with a substantial revenue share, followed by Europe and North America, respectively. Asia Pacific is expected to register the highest CAGR during the forecast period.
   
   

Report Scope & Segmentation-

Market Segmentation

• Based on type, the corrugated bulk bins market is single-wall, double-wall, and triple-wall. The triple-wall segment held the largest share of the corrugated bulk bins market in 2023.
• By form, the corrugated bulk bins market is segmented into hinged, totes, pallets, and others. The pallets segment held the largest market share in 2023.
• Based on application, the corrugated bulk bins market is segmented into food & beverages, (fresh produce, poultry meat and seafood, packaged foods, tobacco, etc.), industrial equipment and parts, construction, electrical and electronics, chemicals, pharmaceuticals, and others. The food and beverages segment held the largest market share in 2023.
• The corrugated bulk bins market is segmented into five major regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Competitive Strategy and Development

• Trending Topics: Recycled Corrugated Bulk Bins, Heavy-Duty Corrugated Bins, Pallets, Laminated Bulk Bins, Totes Packaging, Corrugated Cartons, Collapsible Bulk Bins, etc.
  
  

Global Headlines on Corrugated Bulk Bins

• Sabert Launches Corrugated and Paperboard Food Packaging Solutions
• Mondi Provides Aromsa with Corrugated Cardboard Shipping Boxes for Food Flavoring Products
• Greif Prepares for Opening of New Manufacturing Facility in Dallas, Texas
  
  

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Conclusion

The need for durable and reliable bulk packaging solutions is rising with the rapid growth of various industries globally, and the advancing trend of bulk purchases and shipping. Corrugated bulk bins benefit end-user industries through features such as bacterial resistance, cushioning properties, and physical damage protection. They act as a barrier against external environmental conditions, including temperature fluctuations and moisture. Thus, the flourishing food & beverages industry drives the corrugated bulk bins market growth. Triple-wall corrugated bins meet the demand for efficient material storage and handling products with their strength. Moreover, triple-wall corrugated bulk bins provide a lightweight option compared to alternative materials such as wood or metal, which makes their handling easy and reduces further labor costs.

Major players operating in the Corrugated Bulk Bins Market are:

• Ameripak
• MK Packaging
• International Plastics Inc
• Deluxe Packaging
• Saxon Packaging Limited
• Gabriel Container Co
• Cactus Containers Packbox LLC
• Mondi Plc
• Smurfit Kappa Group
• Georgia-Pacific LLC
• DS Smith Plc
• VPK Packaging

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