Future Market Insights (FMI) predicts the global packaging bins market size to top US$ 3 Bn in 2032, up from US$ 2 Bn in 2022. Driven by surging demand for bulk packaging, the market is poised to grow by 4.4% between 2022 and 2032.
Bulk bins are packaging solutions used for storing and transporting bulk materials/contents. These bins are made from plastic or paper or metal which offer improved strength and durability during storage and transportation of large volume of consignments.
Bulk bins are used by various industries such as food, automotive, construction, electronics & furniture, chemical, and others. These bins are cost-effective, durable, versatile, lightweight bulk packaging solutions which attracts various end use industries. Bulk packaging bins are available in different capacities such as less than 15 gallons, 15 to 40 gallons, 41 to 120 gallons, and more than 120 gallons.
The rising awareness and preference for sustainable packaging solutions will propel the demand for paper bulk bins. These bins can be reused and recycled hence, they are gaining traction among diverse end users. Moreover, the surge in trade of bulk goods will create attractive prospects for the growth of the market worldwide.
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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.
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.
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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.
Bulk Bins Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global bulk bins market, analyzing historical demand from 2015-2021 and forecast statistics for 2022-2032. The study reveals market growth projections on the bulk bins based on the material type (plastic bulk bins, paper bulk bins, and metal bulk bins), capacity (less than 15 gallons, 15 to 40 gallons, 41 to 120 gallons, and more than 120 gallons), and end use (food, automotive, construction, electronics & furniture, chemical, and others) across seven regions.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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