Global Octabin Market is valued at USD 336.5 Million in 2021 and is expected to reach USD 493.0 Million by 2028 with a CAGR of 5.61% over the forecast period.
Octabin Market Global Size, Trends, Competitive, Historical & Forecast Analysis to 2022-2028, Increasing growth of packaging industry and rising advancements in the packaging sectors worldwide are some of the major factors driving the growth of the Global Octabin Market.
Octabin is a heavy-duty octagon-shaped packaging product solution which are used for the storage and transportation of large quantity and quality powdered, granulated, and other loose-fill products. Octabin also known as bulk box, skid box, Gaylord or bulk bin. The octabin are made of corrugated fiberboard, the wooden boxes are also used in octabin. For some packaging reusable plastic toes are used for particular products and logistics chains.
Due to the Covid-19 pandemic, most of the countries have gone under lockdown, and increasing problems due to the outbreak of Covid-19 have affected many industries including packaging industry. The decline in the growth of packaging industry has affected the demand for octabin market as well.
The Global Octabin market is segmented on the basis of type, application, and region & country level. On the basis of type, the global octabin market is classified as slandered octabin, base discharge Octabin, self-assembly Octabin and telescopies Octabin. Based on application, the global octabin market is segmented as end industry, consumer goods, chemical industry and others.
The regions covered in Octabin market report are North America, Europe, Asia-Pacific, Latin America, and the Rest of the World. On the basis of country level, the market of Octabin is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Global Octabin Market report covers the prominent players like:
On January 18th, 2022;– Smurfit Kappa is one of the leading providers of paper-based packaging solutions in the world, has an investment of over USD33 million in Brazil to expand the capacity of its plant in Fortaleza to meet the growing demand for innovative and sustainable packaging. The expansion, including the installation of a new corrugator, will significantly extend the plant’s Shelf Ready Packaging capability for FMCG customers in a range of sectors including fresh fruit, home appliances, and pharmaceuticals. Several high-end printers will also be installed to provide the high level of precision and quality that is required for eCommerce packaging. In addition, a new innovation center will foster even more customer collaboration and enhance the development of impactful, sustainable, and market-leading packaging solutions.
On December 2nd, 2021; Mondi, opened a new ISTA-certified laboratory at Mondi Bupak in Ceske Budejovice (CZ), which is one of its Central European corrugated solutions flagship plants and a hub for the development and production of eCommerce packaging. The laboratory offers various transport performance tests, including ISTA 6 certification testing for packaging. In addition, Mondi’s laboratory is an approved member of the Amazon Packaging Support and Supplier Network (APASS) and hence a partner of choice for testing Amazon’s Tier 1-3 compliant packaging (FFP, SIOC and PFP), which is a market standard of the online retailer for reducing packaging volume in eCommerce logistics.
The different characteristics of octabin are such as its durability, versatility, lightweight, cost-effectiveness, and bulk packaging leads to increase the demand of octabin in food industry. Due to these factors, octabins are highly being used for the transportation and storage of fresh vegies, fruits, products, ingredients, and other dry products. Additionally, increasing customer preference towards adopting eco-friendly packaging solutions, due to the rising concerns about environmental sustainability is further motivating the food industry players to adopt sustainable packaging solutions such as octabins. The demand of octabin is increasing in many industries to achieve companies sustainability goals, owing to their eco-friendly attributes such as reusability, recyclability, effective printability, and metal-free closure options. Additionally, the growing e-commerce and courier services are also anticipated to drive the market growth. Additionally, the implementation of rigid regulations regarding the use of plastics for the packaging of food across many countries such as the U.S., Germany, Australia, and China among others is expected to supplement the growth of the market.
However, strict rules and regulations by the government regarding deforestation, transportation may act as a restraint for the octabin market. Additionally, high cost for packaging than any other food packaging leads to impeding the growth of octabin market. In spite of that, the ban on plastic has positively affected the demand for alternative packaging products, which acts as a new opportunity to generate more revenues for the global octabin market.
The Asia Pacific is expected to show the fastest growth in the global octabin market due to the increasing demand in various end-use industries especially in the countries like Japan, India and China. For example; many pharmaceutical companies in India use octabins for the storage of products and delivery, which creates bigger opportunities for octabin packaging to grow in the region. The developing economic stability in the Asia Pacific region and the logistics business is predicted to drive the demand for the octabin market in this region.
North America is expected to show significant growth in the global octabin market owing to the growing use of octabins in the transportation of beverage containers and growing advancements in packaging, eco-friendly and sustainable packaging solution. Additionally, the rising number of players in this market is also fostering the octabin market growth in this region. The rise in e-commerce and courier services for delivering of consumer products also leads to an increase the demand of octabin market. For example around 36 million packages of courier are delivered per day in North America. Furthermore, the region also provides which may increase the demand of the octabin market in this region.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2021:||USD 336.5 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 493.0 Million|
|Tables, Charts & Figures:||175|
|Octabins Manufacturers||Smurfit Kappa, DS Smith, Mondi, IBC International, International Paper, Europac, Rondo Ganahl, Nipro Europe Group Companies, Quadwall, Avon Containers Pvt. Ltd., others|
|Segments Covered||By Type, By Applications|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Middle East and Africa
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