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Global Corrugated Bulk Bins Market Size, Analysis - Forecasts to 2026 By Type (Pallet Packs, Hinged, Totes, Others), By Format (Single Wall, Double Wall, Triple Wall, Others), By Load Capacity (Below 1000 Kg, 1000-1500 Kg, More Than 1500 Kg), By Application (Chemicals, Pharmaceuticals, Food- Fresh Produce/Protein Supplements/Snack Food/Poultry & Seafood, Consumer Goods, Tobacco, Others), By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Factors such as the growing e-commerce sector, growing inclination towards retail-ready methods of packaging, growth in consumer income, increasing industrial activities are contributing to the market growth. Using bulk bins as secondary packaging material to build better branding, and the fact that Fibre Box Association (FBA) had proved through a test that there was no trace of any micro-organisms in 90% of the corrugated containers that were tested, are driving the growth of this market.
Besides, the market of corrugated bulk bins is expected to grow significantly in the future because of its massive demand from pharmaceuticals and food & beverage industries. This packaging type is mainly about enclosing multiple rows of air columns between the papers, which makes it much more robust than usual. Some of the advantages are - recyclability and the availability of cost-efficient alternatives which are supporting the market growth.
Market segregation based on product type is pallet packs, hinged, totes, and others. In the forecast period, the Pallet packs segment is expected to have the highest CAGR value. Pallet packs lead the segment because tracking technologies are embedded in them aid in monitoring the supply chain, which is a cause for more demand than the other types.
Based on the format, the market is segmented into the single-wall, double-wall, triple wall, and others. The single wall segment will grow faster than the double and triple wall segment due to its wide usage as shipping packages and its cost-effectiveness than other formats.
Based on load capacity, the market is segmented into below 1000 kg, 1000-1500 kg, and more than 1500 kg. The 1000-1500 kg load capacity will be the fastest-growing segment as compared to other ranges.
Based on application, the market is segmented into tobacco, pharmaceuticals, chemicals, F&B, consumer goods, others. The food segment is further divided into fresh produce, protein supplements, snack food, poultry & seafood. Food followed by the consumer goods category will dominate the market by application during the forecast period of 2021-2026, due to COVID-19, which started in early 2020. Rising food delivery service and ordering of essential food and grocery items through online channels has led to the increased demand in bulk packaging, which has boosted this market.
Based on the region, the market is segmented into Europe, North America, Asia-Pacific, Middle East & Africa, and Central & South America. Asia-Pacific economies like India and China are expected to dominate the market during the forecast period with the highest CAGR value, driven majorly by the e-commerce industry. The exponential growth in the packaging, transportation and logistics industry will drive the market rapidly.
The key players operating in the market include Jayaraj Fortune Packaging Pvt. Ltd, Westrock Company, International Paper Company, Mondi Group, Sonoco Products Company, Georgia-Pacific LLC, Greif Inc, Smurfit Kappa, Orora Limited, Packaging Corporation of America (PCA), Larsen Packaging Products Inc., Supack Industries Pvt. Ltd, B&B Triplewall Containers Limited, Saica Group, Cartocor S.A., Ds Smith, Emenac Packaging, Deluxe Packaging, Elite Packaging, New-Indy TriPAQ, B.A.G. Corp, Elsons International, and Bulk Bin Packaging Company.
Please note: This is not an exhaustive list of companies profiled in the report.
In May 2020, International Paper had vowed to donate around 2 million corrugated bulk bin boxes to the hunger relief organizations in the North American region owing to the COVID-19 pandemic. This had helped the company gain a presence in more countries.
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The Global Corrugated Bulk Bins Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Corrugated Bulk Bins Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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