The global corrugated bulk bins market size was worth around USD 12.236 Billion in 2022 and is predicted to grow to around USD 16.942 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.32% between 2023 and 2030.
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➤ In order to stimulate market expansion, there is an increasing demand for sustainability.
As a result of the growing demand for sustainable solutions, particularly in the packaging and storage sector, the global corrugated bulk containers market is expected to expand. It is one of the sectors that has generated a significant quantity of waste, and it is also highly environmentally harmful. The environment is further harmed by the absence of an effective disposal system in numerous regional packaging industries.Nevertheless, the demand for sustainable solutions is on the rise as a result of the increasing awareness of the negative effects of poor consumption choices and the escalating pressure of businesses. Corrugated bulk containers are produced from wood pulp, which is a renewable resource. It is effortless to harvest and regenerate.
➤ Increasing competition from alternative sources to limit market expansion
The global corrugated bulk containers market is currently facing a significant growth constraint in the form of increasing competition from alternatives in the packaging sector. Despite the favorable responses of end-users to corrugated bulk containers, a significant portion of the potential consumer bases continues to rely on alternative solutions. For instance, the application of storing units made of plastic or metal is contingent upon a variety of external factors, such as personal preference and the availability of corrugated bulk containers in the area, and they also offer certain associated advantages.
➤ Multiple growth opportunities to be provided by the expansion of the e-commerce sector
The corrugated bulk containers industry is anticipated to expand further as a result of the increasing demand in the packaging sector, which is primarily driven by the expanding e-commerce sector. The demand for sustainable packaging solutions is anticipated to increase as the sales revenue from a variety of online portals, such as social media and e-commerce websites, continues to increase. Many individuals opt to make small or large purchases through web-based purchasing sites due to factors such as the increasing use of smartphones and other devices, the availability of affordable internet, and the attractive offers available on e-commerce portals.
➤ The industry may face a challenge as a result of the pressure to reduce costs.
The manufacturing of other alternatives may be less expensive than the production and maintenance of corrugated bulk containers. This may result in the corrugated bulk bins industry participants being compelled to reduce the cost of the final product, which may not be in accordance with the trading companies’ profit objectives. Additionally, the final element of the corrugated bulk bins is directly influenced by any change in the initial price of the primary source material, which is wood pulp. Consequently, the entire supply chain is affected.
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The Global Corrugated Bulk Bins Market is segmented based on product, application and region
Global Corrugated Bulk Bins Market: Product Segment Analysis
● Hinged
● Pallet Packs
● Others
Global Corrugated Bulk Bins Market: Application Segment Analysis
● Triple Wall
● Double Wall
● Single Wall
● Others
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The global Corrugated Bulk Bins market profiles key players such as:
● WestRock Company
● Smurfit Kappa Group
● Nine Dragons Paper (Holdings) Limited
● Mondi Group
● DS Smith Plc
● International Paper Company
● Svenska Cellulosa Aktiebolaget SCA
● Sonoco Products Company
● Lee & Man Paper Manufacturing Limited
● Georgia-Pacific LLC
● Oji Holdings Corporation
● Norampac Industries Inc.
● Packaging Corporation of America
● Rengo Co. Ltd.
● Klabin S.A.
???? Recent Developments:
• Sabert Corporation, a prominent manufacturer of innovative food packaging products and corresponding solutions, introduced the Kraft collection in July 2020. This collection is a new addition to the company’s existing line of sustainable packaging solutions. The collection comprises a diverse selection of recyclable corrugated and paperboard food packaging solutions. Additionally, they are compostable, which emphasizes the importance of sustainability.
• Smurfit Kappa, a prominent corrugated packaging company in Europe, disclosed its intention to construct a new corrugated packaging facility in the Morocco region in June 2022. Our objective is to enhance the quality of service that we offer to our current regional clientele in the North African nation. The investment is anticipated to be approximately USD 37.37 million and could potentially create more than 300 employment.
➤ The dominance of North America is expected to persist.
North America is anticipated to experience the most significant growth in the global corrugated bulk bins market, as it is presently one of the largest contributors to the industry. The primary factor contributing to the elevated regional CAGR is the increasing demand for sustainable bulk packaging alternatives. The United States government has implemented more stringent regulations regarding sustainability in various sectors and business entities, which has resulted in an increase in the number of end-users selecting environmentally friendly packaging alternatives.
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