Packaging Bins Market: Overview, Data Updates, Reports Analysis & Forecast | FMI

ByNiranjan karde

The Global packaging bins market is poised for significant growth, with an expected average CAGR of 4.5% during the forecast period. By 2023, it is anticipated to reach a revenue of US$ 2.04 billion, and this figure is projected to surge to US$ 3.17 billion by 2033. This growth follows a notable uptick in revenues from 2020 to 2021, with a 3.5% year-on-year increase.

Future Market Insights (FMI) predicts a promising trajectory for the market over the coming decade, with an estimated incremental opportunity of US$ 1.1 billion between 2023 and 2033. Furthermore, the global paper bins market is also on an upward trend, set to expand at a CAGR of 5.6% during the same period, reaching a market value of US$ 1.3 billion by 2033.

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Key drivers of this growth include the increasing demand for large-sized bins, particularly in the food and other large industries. This trend is creating revenue-earning opportunities for key players in the packaging bins market, making its future outlook quite promising throughout the assessment period. As industries continue to evolve, the demand for efficient packaging solutions is expected to fuel this market’s expansion.

Key Points

  1. The United States market leads the packaging bins market in terms of market share in North America. The United States region held a market share of 21.0% in 2023. The growth in this region is attributed to the expansion of manufacturing and packaging units and higher penetration of online markets. The North American region held a market share of 24.2% in 2022.
  2. Germany’s market is another successful market in the European region. The market holds a market share of 4.9% in 2023. The growth is attributed to internal trade and government compliance around sustainable packaging. Though, the European region held a market share of 17.9% in 2022
  3. The India packaging bins market captures a CAGR of 5.8% during the forecast period. The market’s growth is attributed to the restored packaging line and the higher impact of e-commerce platforms.
  4. The China market also thrives at a CAGR of 5.2% between 2023 and 2033. The growth is caused by expanding international trade and enhanced focus on manufacturing.
  5. Based on material type, the paper segment held the leading market share of 38.0% in 2022.
  6. Based on end-use type, the food segment performs well as it holds a leading market share of 37.5% in 2022.

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Packaging Bins Market by Category

By Material Type:

  • Plastic Packaging Bins
  • Paper Packaging Bins
  • Metal Packaging Bins

By Capacity:

  • Less than 15 Gallons
  • 15 to 40 Gallons
  • 41 to 120 Gallons
  • More than 120 Gallons

By End Use:

  • Food
  • Automotive
  • Construction
  • Electronics & Furniture
  • Chemical
  • Others (Retail, Waste Management, etc.)

By Region:

  • North America
  • Latin America
  • Europe
  • Middle East and Africa (MEA)
  • East Asia
  • South Asia
  • Oceania