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. 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. Thus, the flourishing food & beverages industry contributes significantly to the corrugated bulk bins market growth.
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- 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. Triple-wall corrugated bins also exhibit superior stacking strength, allowing for more efficient use of warehouse space. The need for durable and reliable bulk packaging solutions is rising with the rapid growth of industries such as food & beverages, automotive, electronics, agriculture, and pharmaceuticals globally, and the advancing trend of bulk purchases and shipping. The cost-effectiveness, sustainability, customization, and logistical advantages contribute to the growing popularity of triple-wall corrugated bulk bins across various industries. Moreover, these bins provide a lightweight option compared to alternative materials such as wood or metal, which makes their handling easy and reduces labor costs.
Corrugated Bulk Bins Market: Segmental Overview
Based on type, the corrugated bulk bins market is segmented into single-wall, double-wall, and triple-wall. In 2023, the triple-wall segment held the largest market share and it is expected to record a significant CAGR during the forecast period. Tripple-wall corrugated bulk bins are the most durable type of packaging material. They are made of three layers of corrugated fluting placed between four separate liner boards. These bins offer the highest level of protection during shipping and transportation. Thus, triple-wall corrugated bulk bins are preferred in heavy automotive and castings manufacturing facilities. Double-wall bins form another attractive segment in the corrugated bulk bins market. These bins consist of two layers of corrugated fluting between three separate liner boards. With the double layer, these products exhibit greater durability and strength than single-wall corrugated bulk bins, which makes them ideal for carrying heavier and larger products such as electronics, appliances, and large industrial goods requiring extra protection during shipment.
Based on form, the corrugated bulk bins market is segmented into hinged, tote, pallet, and others. In 2023, the pallet segment held the largest market share. The totes segment is expected to record a significant CAGR during the forecast period. Corrugated bulk bins in the pallet form include a firm shipping surface with no gaps between the boards, eliminating the possibility of any damage to products. The pallet form of corrugated bulk bins helps reduce shipping and transportation costs owing to their high product-holding capacity. They are suitable for protecting larger unboxed products during transit. These bins can be stacked in warehouses, which unlocks the space-saving benefits. They are widely used in transport packaging as they can be loaded and unloaded in less time using standard forklift trucks, which significantly reduces labor costs.
Based on application, the corrugated bulk bins market is segmented into food & beverages, industrial equipment and parts, construction, electrical & electronics, chemicals, pharmaceuticals, and others. The market for the food & beverages segment is further fragmented into fresh produce, poultry meat and seafood, packaged foods, tobacco, and others. The food & beverages segment held the largest share of the global corrugated bulk bins market in 2023, and it is expected to record a significant CAGR during the forecast period. In the food & beverages industry, corrugated bulk bins are used for transporting and storing high-volume products such as fruits, vegetables, and beverages due to their durability, lightweight, and cost-effective properties. These boxes are manufactured in extreme temperatures exceeding 180°F, eliminating bacterial growth in the bins and making them an ideal packaging choice in food and beverage manufacturing facilities. Their ability to protect the products from contamination and transit-related damage makes them ideal for carrying perishable products. The industrial equipment and parts application is expected to record the fastest CAGR in the corrugated bulk bins market during the forecast period. Shipping industrial equipment and parts is a complex process as these heavy items require extra protection during transit. Due to their robust designs, corrugated bulk bins can withstand substantial weight and provide extra protection for heavy items during transit. These bins can be customized to fit specific industrial equipment and parts, which indicates their versatility for various industrial applications. Further, their stackability helps optimize warehouse space, which is critical to the large-scale production of industrial equipment.
Corrugated Bulk Bins Market: Competitive Landscape
DS Smith Plc, WestRock Co, Smurfit Kappa Group Plc, Mondi plc, Packaging Corp of America, Monte Package Company LLC, Atlantic Packaging Products Ltd., Greif Inc, Georgia-Pacific LLC, Elsons International, Cartocor SA, Hobbs Container Co, Indevco Paper Containers, International Paper Co, Napco National, Reusable Transport Packaging, The Cary Company, and Tri-Wall Limited are among the key players operating in the global corrugated bulk bins market. Players operating in the market focus on providing high-quality products to fulfill customer demand.