The corrugated bulk bins market size was valued at US$ 15.09 billion in 2023 and is projected to reach US$ 22.59 billion by 2031; it is estimated to register a CAGR of 5.2% from 2023 to 2031.

Based on application, the market is segmented into food and beverage, industrial equipment and parts, construction, electrical and electronics, chemicals, pharmaceuticals, and others. The food and beverage segment held the largest share in 2023. The food & beverages segment held the largest share of the global corrugated bulk bins market in 2023, and it is expected to record a significant CAGR during the forecast period. In the food & beverages industry, corrugated bulk bins are used for transporting and storing high-volume products such as fruits, vegetables, and beverages due to their durability, lightweight, and cost-effective properties. These boxes are manufactured in extreme temperatures exceeding 180?F, eliminating bacterial growth in the bins making it an ideal packaging choice in food and beverage manufacturing facilities. Their ability to protect the products from contamination and transit-related damage makes them ideal for carrying perishable products. The food & beverage segment is further segmented into fresh produce, poultry, meat and seafood, packaged food, tobacco, and others.

Asia Pacific holds the largest market share for corrugated bulk bins in the base year 2023. This is attributed to the increased demand from the food & beverage industry. The region is the largest producer and exporter of rice and grain crops. According to the U.S. Department of Agriculture, major US rice imports are from Asian countries. For instance, in 2023, Australia exported 38,600 tons of short grain and medium grain milled rice to the US. The country also imports basmati rice from Pakistan & India and jasmine rice from Thailand. Such increased production and export of rice crops from Asia countries boost the demand for corrugated bulk bins in the region.

Additionally, the pharmaceutical industry is witnessing rapid growth in Asia Pacific, especially in China, India, Japan, and other emerging economies. Various key players operating in the pharmaceutical industry are expanding their footprint in Asia Pacific to meet the growing demand for pharmaceutical products. For instance, in March 2024, Novo Nordisk A/S, one of the leading pharmaceutical companies, announced an investment of US$ 556 million to expand its sterile preparations project in Tianjin, China. Such expansions in the production facilities in the region help meet the growing demand for pharmaceutical products. With the growing pharmaceutical industry in Asia Pacific, the demand for corrugated bulk bins is also growing, which are used for packaging medical and pharmaceutical products.

A few players operating in the global corrugated bulk bins market include 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. Players operating in the market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global corrugated bulk bins market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers-along with external consultants such as valuation experts, research analysts, and key opinion leaders-specializing in the corrugated bulk bins market.