The corrugated bin boxes market is estimated to grow at a CAGR of 3.25% during the forecast period.
The market is anticipated to expand significantly in the coming years as a result of rising demand from end-use sectors including food and beverage and pharmaceutical. Throughout the forecast period, the corrugated bulk bins market is expected to increase due to factors such as the expansion of contemporary retailing, rising consumer income, and accelerated industrial activity, particularly in emerging nations.
Introduction:
Given its sustainable nature, capacity to be recycled, and adaptable qualities, corrugated board is a desirable material for packaging and is used to make corrugated bin boxes. Corrugated materials are chosen over other traditional materials by manufacturers due to their superior performance. Recycled materials such as old newspapers, mixed papers, corrugated containers, and Kraft papers are used in the production of corrugated bin boxes, which are made from naturally renewable resources and remove items from the public solid waste stream. The growing need for convenient deliveries to homes or workplaces has contributed to the enormous expansion of the e-commerce industry throughout time. Corrugated bin box demand gradually increased at a notable rate. Corrugated bin boxes are growing in popularity as a result of well-known e-commerce enterprises implementing eco-friendly packaging techniques to cut costs and waste. Sales of corrugated bulk bins are expected to be driven in the next years by the widespread usage of these boxes in a variety of end-use industry verticals, such as food and beverage and pharmaceutical.
Drivers:
Products offered by key companies:
The prominent growth in the Food and beverages sector under the End-User segment
In the worldwide market for corrugated bin boxes, the food and beverage sector segment holds a sizable portion of the market. The three main categories in the food and beverage business are non-perishables, processed food, and fresh produce. Packaging is used in the food and beverage industry to handle, store, and transport goods. Food products with varied strengths, such as processed food products and extremely delicate, perishable goods, must be transported in corrugated boxes. Corrugated bin boxes are a suitable medium for packaging, transporting, and storing food for an extended amount of time since they are not reactive. Processed food packaging involves using safe packaging materials that are appropriate for the customer and that also verify the product's safety. Processed food is thus packaged in corrugated bin boxes.
The North American region is expected to hold a significant share of the corrugated bin boxes market:
The market for corrugated bin boxes was dominated by North America. Due to the country's booming e-commerce and pharmaceutical industries, the region is predicted to continue growing during the forecast period. With the leadership of well-known e-commerce giants like Amazon, Walmart, Alibaba, Facebook, and others, the e-commerce sector has grown significantly over time. These businesses have begun packing individual things in corrugated bin boxes. Many companies in the market are concentrating on switching from single-use plastics to paper bags and corrugated bin boxes to reduce packaging waste and become more environmentally friendly. Similarly, a significant portion of the corrugated bin boxes used to package pharmaceuticals are disposed away by pharmaceutical companies. Moreover, the recent technological advancements are boosting market dynamics. Barcodes and QR codes, which enhance the usefulness, robustness, and ease of the shipping process, are the fundamental building blocks of packaging. These developments make it simpler to monitor packages to make sure they aren't being tampered with.
Key developments:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Growth Rate | CAGR of 3.25% from 2022 to 2029 |
| Base Year | 2022 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Segments