At 5.0% CAGR, Europe Corrugated Bulk Bins Market is Projected to be Worth US$ 5,731.06 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Europe corrugated bulk bins market was valued at US$ 3,888.16 million in 2023 and is estimated to reach US$ 5,731.06 million by 2031, recording a CAGR of 5.0% from 2023 to 2031. Strategic initiatives by key market players and integration of RFID in the corrugated bulk bins are among the critical factors attributed to drive the Europe corrugated bulk bins market growth.

Key manufacturers operating in the corrugated bulk bins market are investing significantly in strategic development initiatives such as product innovation, R&D, mergers and acquisitions, and business expansions to enhance their market position by attracting a broad customer base. Expanding into new geographic locations allows market players to reach untapped customer bases, further increasing their market share and revenue streams. The expansion strategy also allows them to achieve economies of scale by increasing production volumes. Investments in advanced manufacturing technologies such as automation and robotics also allow enterprises to enhance their production efficiency and product quality. The subsequent product diversification through innovations, such as triple-wall or hybrid corrugated bins, further provides them a competitive edge. In February 2024, Atlantic Packaging Products Ltd launched second-generation beverage carrier packaging. It is manufactured from paper by eliminating single-use plastics from the packaging supply chain. Thus, such strategic initiatives are expected to create lucrative opportunities for the corrugated bulk bins market players during the forecast period.

On the flip side, availability of alternatives hampers the growth of Europe corrugated bulk bins market.

Based on type, the Europe corrugated bulk bins market is segmented into single-wall, double-wall, and triple-wall. The triple- wall segment held 56.2% market share in 2023, amassing US$ 2,185.18 million. It is projected to garner US$ 3,283.94 million by 2031 to register 5.2% CAGR between 2023-2031.

By form, the Europe corrugated bulk bins market is categorized into hinged, totes, pallet, and others. The pallet segment held 41.0% share of Europe corrugated bulk bins market in 2023, amassing US$ 1,594.27 million. It is anticipated to garner US$ 2,349.35 million by 2031 to expand at 5.0% CAGR during 2023-2031.

In terms of application, the Europe corrugated bulk bins market is categorized into food & beverages, industrial equipment & parts, construction, electrical & electronics, chemicals, pharmaceuticals, and others. The food & beverages segment held 52.3% share of Europe corrugated bulk bins market in 2023, amassing US$ 2,034.34 million. It is anticipated to garner US$ 3,092.73 million by 2031 to expand at 5.4% CAGR during 2023-2031.

Based on country, the Europe corrugated bulk bins market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 27.4% share of Europe corrugated bulk bins market in 2023. It was assessed at US$ 1,066.52 million in 2023 and is likely to hit US$ 1,503.76 million by 2031, registering a CAGR of 4.4% during 2023-2031.

Key players operating in the Europe corrugated bulk bins market are DS Smith Plc, Georgia-Pacific LLC, Greif Inc, Indevco Paper Containers, International Paper Co, Mondi Plc, Smurfit Kappa Group Plc, Tri-Wall Limited, WestRock Co, and VISY Industries Australia Pty Ltd, among others.

• In 2024, Smurfit Kappa announces US$ 54 million investment in Spanish Bag-in-Box plant.
• In 2024, International Paper Announces Agreement to Acquire DS Smith.

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