Global Octabins Market Size study, by Product Type (Standard octabins, Base discharge octabins, Self-assembly octabins, Telescopic octabins, Free flow base octabins), by Capacity (Standard, Customised), by End Use Industries (Food industry, Consumer Goods, Chemical industry, Others) and Regional Forecasts 2022-2028
Global Octabins Market is valued approximately USD 0.27 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.50 % over the forecast period 2022-2028.
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Octabins refers to packaging solution which are used for transportation and storage of bulk cargo such as granular, power, and other loose fill products. Octabins are made from corrugated board, the octagonal shaped pack consists of a base, sleeve, and lid, which can be manually erected. Octabins provide a cost effective and environmentally friendly alternative to wooden and metal crates. Growing demand for sustainable packaging solutions and rising food and beverages sector are key drivers for the growth of Octabins market.
For instance, according to Reusable Packaging Association in 2020, the global packaging market reached to USD 950 billion in value. Approximately USD 200 billion of this market is considered transport or transit packaging. Out of the USD 200 billion global transport packaging market, reusable transport packaging (RTP) market is estimated at USD 100 billion RTP market and Plastic-corrugated Boxes, Panels, & Sleeves estimated at USD 6.7 billion. Also, on March 11th, 2020, The EU released its new Circular Economy Action Plan. To ensure that all packaging in the European market is reusable or recyclable in a cost effective way by the year 2030.
Also, with the increasing demand from end use industries and increasing development of innovative products by major players, the adoption & demand for Octabins is likely to increase the market growth during the forecast period. However, slow penetration rate and supply chain disruptions due to covid 19 pandemic impede the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Octabins market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading region across the world in terms of market share owing to shifting customer preference towards sustainable packaging solutions in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2022-2028. Factors such as growing food & beverages sector and rising e-commerce sector would create lucrative growth prospects for the Octabins market across Asia-Pacific region.
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Major market player included in this report are: Smurfit Kappa IBC International. PAYPER Bagging India Pvt. Ltd. Nipro Europe Group Companies. vQm packaging. Napco National. Palamatic Process Papierwerke GmbH & Co. KG Groupe Barbier Nittel
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type: Standard octabins Base discharge octabins Self-assembly octabins Telescopic octabins Free flow base octabins
By End Use Industries: Food industry Consumer Goods Chemical industry Others
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By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019, 2020 Base year – 2021 Forecast period – 2022 to 2028
Target Audience of the Global Octabins Market in Market Study:
Key Consulting Companies & Advisors Large, medium-sized, and small enterprises Venture capitalists Value-Added Resellers (VARs) Third-party knowledge providers Investment bankers Investors
Smurfit Kappa IBC International. PAYPER Bagging India Pvt. Ltd. Nipro Europe Group Companies. vQm packaging. Napco National. Palamatic Process Papierwerke GmbH & Co. KG Groupe Barbier Nittel
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What aspects regarding the regional analysis Market are included in this report?
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