The global corrugated bulk bins industry has witnessed high growth primarily because of the increasing demand for food and pharmaceutical products worldwide, especially during the COVID-19 pandemic. Demand for sustainable and durable protective packaging for the pharmaceutical industry is another key factor contributing to the increasing growth of the corrugated bulk bins market over the next few years.
New York, Jan. 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Corrugated Bulk Bins Market by type, format, load capacity, Application and Region - Global Forecast to 2025" - https://www.reportlinker.com/p06011426/?utm_source=GNW
In terms of both value and volume, pallet pack segment to lead the corrugated bulk bins market by 2025.
The pallet pack segment is expected to lead the global corrugated bulk bins market by 2025.Whereas, totes segment is projected to grow at the highest CAGR from 2020 to 2025.
The increase in the demand for totes can be attributed to the rise in the demand for durable and convenient packaging solutions across end-use industries. The growth of the totes segment will be supported by the increase in demand from the manufacturers in the food, chemicals, and pharmaceutical industries, and growth of the e-commerce sector during the forecast period.
In terms of both value and volume, food is projected to be the fastest-growing segment from 2020 to 2025, for corrugated bulk bins.
Food is projected to be the fastest-growing segment in the corrugated bulk bins market.Corrugated bulk bins help in the hygienic transportation and storage of various foods and beverages.
Packaging reduces exposure to contaminants in the air and bacteria during handling, which can lead to illnesses, including food poisoning. Corrugated bulk bins for the food industry are made using high-tech equipment to prevent loose thread contamination and adhere to hygiene standards.
The increase in exports of food grains from Southeast Asia and Europe is expected to boost the demand for corrugated bulk bins by 2025. Distributors in the food industry prefer bulk containers over other types of packaging options, such as wood, metal, and plastics, due to their higher operational efficiency coupled with the sustainable packaging. Furthermore, corrugated bulk bins are widely used for the transportation and storage of fresh food, snack food, protein supplements, poultry & seafood, and others
In terms of both value and volume, the Asia Pacific corrugated bulk bins market is projected to grow at the highest CAGR during the forecast period.
In terms of value and volume, the Asia Pacific region is projected to grow at the highest CAGR from 2020 to 2025 due to the strong demand for the corrugated bulk bins products from countries such as China, India, and Japan.Rising demand for food & vegetables, particularly in China and India, is expected to fuel the growth of the corrugated bulk bins market in the region.
An increase in the usage of bulk packaging products for snacks, grains, and fresh produce, has resulted in high demand for corrugated bulk bins in the food & beverage segment.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the corrugated bulk bins market.
•?By Company Type: Tier 1: 35%, Tier 2: 40%, and Tier 3: 25%
•?By Designation: C-level: 40%, D-level: 35%, and Others: 25%
•?By Region: North America: 20%, Europe: 35%, Asia Pacific: 25%, Middle East & Africa: 15%, and South America: 5%
The global corrugated bulk bins market comprises major manufacturers, such as WestRock Company (US), International Paper Company (US), Mondi (Austria), Sonoco (US), and Greif Inc. (US).
The market study covers the corrugated bulk bins market across various segments.It aims at estimating the market size and the growth potential of this market across different segments based on type, load capacity, format, application, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the corrugated bulk bins market.
Key Benefits of Buying the Report
The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall corrugated bulk bins market and its segments and sub-segments.This report is projected to help stakeholders understand the competitive landscape of the market and gain insights to improve the position of their businesses and plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
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