The Packaging Bins Market is expected to expand its roots at an average CAGR of 4.5% during the forecast period. The market is likely to hold a revenue of USD 2.04 billion in 2023 while it is anticipated to cross a value of USD 3.17 billion by 2033.
The market registered escalating growth in 2020 to 2021 with revenues up by 3.5% Y-O-Y. Future Market Insights (FMI) has forecast that the revenue of the market is expected to rise from 2023 to 2033. It is estimated to create an incremental opportunity of USD 1.1 billion.
Newly released data from the market exhibit that global sales of the overall paper bins market are projected to expand at a CAGR of 5.6% from 2023 to 2033. It is estimated to hold a market value of USD 1.3 billion by the end of 2033.
According to FMI, increasing consumption of large-sized bins in food and other large industries is creating revenue-earning opportunities for the key players. The future of the market is estimated to remain promising through the course of the assessment period.
The overall demand for packaging bins is projected to expand 1.6x the current market value by the end of 2033. The demand for packaging bins may consistently rise with the top 3 countries the United States, China, and Germany forecast to hold 30 to 35% of the global packaging bins market in 2022.
Europe is estimated to remain the leading region followed by North America for the sales of packaging bins in the other regions. Europe and North America collectively are projected to hold around 52% of the market value share by the end of 2032. With the end-user industries completely restoring at their full capacity and following a reduction in trade restrictions, demand for packaging bins is again high. Industries such as automotive, chemical, and others have seen fair growth post-pandemic which had a significant impact on the market. Moreover, the players operating in the market started to offer innovative and sustainable packaging bins which gains traction among the end-use industries.
| Attribute | Details |
|---|---|
| Market CAGR (2023 to 2033) | 4.5% |
| Market Size (2023) | USD 2.04 billion |
| Market Size (2033) | USD 3.17 billion |
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The global packaging bins market is anticipated to expand by 1.6x the current market value from 2023 to 2033 and is estimated to create an incremental opportunity of USD 1.13 billion due to the increasing preference for packaging bins for transporting bulk consignments.
Packaging bins are bulk packaging solutions used for storing and transporting a large volume of consignment which may get damaged during transit. Packaging bins are made from plastic or paper or metal material which are durable and versatile.
These bins are used by various end-use industries such as food, automotive, construction, chemical, electronics & furniture, and others. Also, they are made available in different capacities as per the requirement of end users. The increasing need for versatile bulk storage capacities bolsters the demand for packaging bins.
The rise in production activities among the end-use industries drives the demand for packaging solutions for bulk cargo such as packaging bins. Thus, the future outlook for the packaging bins market is projected to grow during the forecast period.
Packaging bins are used for storing and transporting products in bulk. Features of packaging bins such as toughness, durability, versatility, cost-effectiveness, and others make them best suitable for bulk packaging.
The rising need for packaging solutions among the various industries to store and transport a large volume of consignments is fueling the demand for packaging bins. Also, the growth in trade across the world propels the sales of packaging solutions such as packaging bins. As it ensures product integrity along with maintaining the quality of the product.
The availability of corrugated packaging bins helps to reduce the cost of transport as these bins are light in weight. This is attracting many industries as they seek cost-effective and tough solutions for transporting large volumes of consignments.
Principal Consultant
Corrugated packaging bins have many benefits such as recyclability, reusability, lightweight, printability, and sustainability. Growing concerns regarding eco-friendly packaging options among industries have been fuelling the demand for corrugated packaging bins.
These bins address sustainability as well as eco-friendly concerns. The rising concern about environmental sustainability among consumers is driving the demand for eco-friendly packaging solutions, which is augmenting the sales of corrugated packaging bins.
The use of eco-friendly packaging solutions is rising in the food industry which is creating growth opportunities for corrugated packaging bins sales. Since the food industry holds the leading share of the packaging bins market.
These corrugated packaging bins are durable, tough, and unbreakable which attracts various end-use industries. Overall, the growing adoption of eco-friendly packaging solutions in the end-use industry. As well as among consumers creates a growth opportunity for the market of corrugated packaging bins.
| Countries | Revenue Share % (2022) |
|---|---|
| United States | 21.0% |
| Germany | 2.9% |
| Japan | 4.3% |
| Australia | 3.7% |
| North America | 24.2% |
| Europe | 17.9% |
| Countries | CAGR % (2023 to 2033) |
|---|---|
| China | 5.2% |
| India | 5.8% |
| United Kingdom | 3.2% |
The United States packaging bins market is estimated to register a CAGR of 3.3% from 2023 to 2033 and is projected to reach USD 575.5 million by 2033. Though, the market held a market share of 21.0% in 2022 while the whole North American region covered a total of 24.2% of the global share in 2022.
According to the United States Department of Agriculture (USDA), the consumption of fruits and vegetables is comparatively more in the region. This indicates impressive growth opportunities for the packaging bins market as corrugated packaging bins are used for storing fresh produce products such as fruits & vegetables. Thus, the rising consumption of fruits propels the demand for packaging bins among retail shops and other fruit shops.
China is estimated to hold around 52% of the East Asia packaging bins market and is anticipated to create an incremental opportunity of USD 95.8 million during the forecast period. The country’s market thrives on a CAGR of 5.2% between 2023 and 2022.
The rising import and export of bulk products in China are projected to create growth opportunities for the packaging bins market. According to the World Integrated Trade Solution (WITS), China is among one of the top importing & exporting countries. This indicates the high growth prospects for the packaging bins market.
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| Category | By Material Type |
|---|---|
| Leading Segment | Paper |
| Market Share (2022) | 38.1% |
| Category | By End Use |
|---|---|
| Leading Segment | Food |
| Market Share (2022) | 37.5% |
By material type, paper packaging bins are primarily preferred by maximum end users. This segment is estimated to hold nearly 3/7th share of the market by the end of the next ten years. It is projected to expand at a CAGR of 5.7% during the forecast period. The segment held a market share of 38.0% in 2022.
The food segment followed by the automotive segment is estimated to remain the leading end user of packaging bins. These target segments are anticipated to create an incremental opportunity of USD 736.9 million from 2022 to 2033. The segment also held a market share of 37.5% in 2022.
Rising focus on eco-friendly packaging solutions, which are also cost-effective may drive sales of paper packaging bins. Besides this, consistently high demand for corrugated boxes drives growth prospects within the food sector.
The key players operating in the packaging bins market are focusing on expanding their production capacity. Also, the key players are focusing on adopting advanced technology by investing in new machines. This may help in providing innovative products along with improving production capabilities.
Market Developments
The market is valued at USD 2.04 billion in 2023.
The key market players are Smurfit Kappa Group, DS Smith, and WestRock Company.
The key consumer of the Packaging Bins market is the food and beverage industry.
The market is estimated to reach USD 3.17 billion by 2033.
The packaging bins market CAGR for 2033 is 4.5%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Plastic 5.2. Paper 5.3. Metal 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Capacity 6.1. Less than 15 Gallons 6.2. 15 to 40 Gallons 6.3. 41 to 120 Gallons 6.4. More than 120 Gallons 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Food 7.2. Automotive 7.3. Construction 7.4. Electronics & Furniture 7.5. Chemical 7.6. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. DS Smith plc 16.2. International Paper Company 16.3. WestRock Company 16.4. Atlantic Packaging Products Ltd. 16.5. Smurfit Kappa Group plc 16.6. Mondi plc 16.7. REMCON Plastics Inc. 16.8. TranPak Inc. 16.9. Napco National 16.10. DuraCast Products 16.11. Schaefer Systems International, Inc. 16.12. Quadwall Ltd. 16.13. Rondo Ganahl AG 16.14. RPP Containers 16.15. S LESTER PACKING MATERIALS LTD. 17. Assumptions & Acronyms Used 18. Research Methodology
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Packaging Bins Market
