The corrugated bulk bins market was valued at approximately US$ 15.09 billion in 2023 and is anticipated to grow to US$ 22.59 billion by 2031, reflecting a compound annual growth rate (CAGR) of 5.2% from 2023 to 2031.

The market is categorized based on application into several segments, including food and beverage, industrial equipment and parts, construction, electrical and electronics, chemicals, pharmaceuticals, and others. Among these, the food and beverage sector dominated the market in 2023. This segment is projected to experience a robust CAGR throughout the forecast period. In the food and beverage sector, corrugated bulk bins are essential for the transportation and storage of large quantities of products such as fruits, vegetables, and beverages, owing to their lightweight, durable, and cost-effective nature. These bins are produced under extreme conditions, exceeding 180?F, which effectively prevents bacterial growth, making them an optimal choice for packaging in food and beverage manufacturing environments. Their design ensures protection against contamination and damage during transit, making them particularly suitable for perishable goods. The food and beverage segment can be further divided into categories such as fresh produce, poultry, meat and seafood, packaged food, tobacco, and others.

In terms of regional market share, the Asia Pacific region led the corrugated bulk bins market in 2023, primarily due to the rising demand from the food and beverage industry. This region is recognized as the largest producer and exporter of rice and grain crops. According to the U.S. Department of Agriculture, a significant portion of rice imports to the United States comes from Asian nations. For example, in 2023, Australia exported 38,600 tons of short and medium grain milled rice to the U.S., while also importing basmati rice from Pakistan and India, as well as jasmine rice from Thailand. The heightened production and export activities of rice in Asian countries have significantly increased the demand for corrugated bulk bins in the region.

Moreover, the pharmaceutical sector in Asia Pacific is experiencing rapid expansion, particularly in countries like China, India, and Japan, along with other emerging markets. Numerous key players in the pharmaceutical industry are broadening their operations in this region to cater to the escalating demand for pharmaceutical products. For instance, in March 2024, Novo Nordisk A/S, a prominent pharmaceutical company, announced a substantial investment of US$ 556 million aimed at expanding its sterile preparations project in Tianjin, China. Such developments in production facilities are crucial for meeting the rising demand for pharmaceutical goods. Consequently, as the pharmaceutical industry flourishes in Asia Pacific, the need for corrugated bulk bins, which are utilized for packaging medical and pharmaceutical items, is also on the rise.

Several notable companies are active in the global corrugated bulk bins market, including 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. These market participants are committed to delivering high-quality products to meet customer needs and are also focused on launching innovative and superior products to enhance their offerings.

The overall size of the global corrugated bulk bins market has been determined through a combination of primary and secondary research methodologies. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the corrugated bulk bins market.