According to Future Market Insights (FMI), the global packaging bins market is projected to reach over US$ 3 billion in 2032, showing a significant increase from US$ 2 billion in 2022. The market is expected to grow at a CAGR of 4.4% between 2022 and 2032, driven by the growing demand for bulk packaging.
Packaging bins, specifically bulk bins, are designed for storing and transporting large volumes of materials or contents. These bins are typically made from plastic, paper, or metal, offering strength and durability during storage and transportation.
Bulk bins find applications in various industries such as food, automotive, construction, electronics, furniture, chemicals, and more. They are favored for their cost-effectiveness, durability, versatility, and lightweight nature, making them attractive to a wide range of end-users. These bins are available in different capacities, including less than 15 gallons, 15 to 40 gallons, 41 to 120 gallons, and more than 120 gallons.
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The increasing awareness and preference for sustainable packaging solutions are expected to drive the demand for paper bulk bins. These bins can be reused and recycled, making them an environmentally friendly choice that resonates with diverse end-users. Furthermore, the growth in the trade of bulk goods presents attractive opportunities for the global market.
In summary, the packaging bins market is poised for significant growth, fueled by the demand for bulk packaging solutions. The market is expected to witness increased adoption of paper bulk bins due to their sustainability benefits, while the expansion of trade in bulk goods further contributes to market growth.
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.
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.
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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
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.
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Packaging Bins Market by Category
By Material Type:
- Plastic Packaging Bins
- Paper Packaging Bins
- Metal Packaging Bins
- Less than 15 Gallons
- 15 to 40 Gallons
- 41 to 120 Gallons
- More than 120 Gallons
By End Use:
- Electronics & Furniture
- Others (Retail, Waste Management, etc.)
- North America
- Latin America
- Middle East and Africa (MEA)
- East Asia
- South Asia
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
Future Market Insights Inc.