The global packing bins market will increase from US$ 2 Bn in 2022 to US$ 3 Bn in 2032, predicts Future Market Insights (FMI). Between 2022 and 2032, the market is projected to grow by 4.4%, propelled by growing demand for bulk packaging.
Bulk commodities are typically transported and stored in bulk bins, a type of packaging. These containers, which are made of plastic, paper, or metal and offer increased strength and durability, can be utilised for the storage and transportation of big loads of consignments.
Several industries, including those in the food, automotive, building, electronics & furniture, chemical, and others, employ bulk bins. These bins are attractive to a variety of end use industries because they are inexpensive, dependable, adaptable, and lightweight bulk packaging solutions. There are several capacities for bulk packaging bins, including less than 15 gallons, 15 to 40 gallons, 41 to 120 gallons, and more than 120 gallons.
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The demand for paper bulk bins will increase as people become more aware of and prefer environmentally friendly packaging options. Because these containers may be recycled and reused, they are becoming more popular with a variety of end customers. Additionally, the spike in bulk products trade will open up promising opportunities for the global market to expand.
Key Takeaways from Bulk Bins Market
- The paper packaging bins segment is projected to register a CAGR of 5.7% during 2022-2032.
- By capacity, the 15 to 40 gallon is forecast to remain the dominant segment in terms of capacity over the forecast period.
- The food segment is expected to account for 5/8 of overall packaging bins sales in 2025.
- Europe, North America, and East Asia are projected to exhibit the high demand for bulk bins. These segments collectively are projected to hold approximately 68% of the market value share by the end of 2032.
“The rising preference for the eco-friendly and sustainable packaging solution among various end-use industries will bolster the sales of corrugated (paper) packaging bins. To capitalize on existing opportunities, market players are likely to focus on product launches,” says an FMI analyst.
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Trend of Customization & Environment-Friendly Packaging Solution Fuelling Demand for Bulk Bins
Bulk bins can be customized as per the requirement of end use industry based on their capacity as well as the material which drives the demand for bulk bins. The customized bulk bins market is anticipated to bolster during the forecast period. The key players operating in the bulk bins are offering customization such as providing a double and triple wall for the bulk bins as per the requirement of the end-users.
This attracts the end use industry. Moreover, the customized printing option adds to the benefit of bulk bins. The development of corrugated bulk bins helps in easy printability which augment the sales of bulk bins among various end use industries.
The availability of corrugated bulk bins offers various features such as reusability, recyclability, and sustainability which addresses the environmentally friendly concern which boosts the demand for bulk bins. Thus, the bulk bin offering customization as well as an eco-friendly option for the bulk packaging drives the demand for bulk bins among the end use industry.
- Bulk Bins Market Landscape
- DS Smith plc,
- International Paper Company,
- WestRock Company,
- Atlantic Packaging Products Ltd., and
- Smurfit Kappa Group plc
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are the key players operating in the bulk bins market. Furthermore, Mondi plc, REMCON Plastics Inc., Napco National, and Schaefer Systems International, Inc. are also noticeable players in the bulk bins market. The Tier 1 players in the market hold 15-20% in the global bulk bins market.
Competitive Landscape
The key players operating in the packaging bins market are focusing on expanding their production capacity. Also, the key players are focusing on adopting the latest technology by investing in the new machines which will help in providing innovative products along with improving the production capabilities.
- In January 2022, Mondi plc helped the industrial customer to switch to heavy-duty corrugated packagings such as corrugated octabins and others by expanding its production capacities.
- In August 2021, S LESTER PACKING MATERIALS LTD. announced its investment of US$ 2.8 Mn in the new technology which will help the company to improve its capabilities for manufacturing packaging solutions such as corrugated boxes, octabins, bespoke packaging, and others.
Packaging Bins Market by Category
By Material Type:
- Plastic Packaging Bins
- Paper Packaging Bins
- Metal Packaging Bins
By Capacity:
- Less than 15 Gallons
- 15 to 40 Gallons
- 41 to 120 Gallons
- More than 120 Gallons
By End Use:
- Food
- Automotive
- Construction
- Electronics & Furniture
- Chemical
- Others (Retail, Waste Management, etc.)
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
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