Global Octabin Market – Industry Trends and Forecast to 2029

Global Octabin Market, By Product (Free Flow Base Octabins, Base Discharge Octabins, Self-Assembly Octabins, Standard Octabins, Telescopic Octabins), Capacity (Customized, Standard), End User (Consumer Goods, Food Industry, Chemical Industry, Others) – Industry Trends and Forecast to 2029

Market Analysis and Size

Octabins carriers are bulky material packaging solutions largely used to transport food products such as dry products and vegetables across the globe. Due to the large use of octabins in food storage, the manufacturers have upgraded their present packaging product with additional features such as free flow base and base discharge, improving the convenience of emptying the bulk box. The other factor driving the octabin sales in this market is the availability of octabins in several sizes and forms depending on the food product being sent. This has accelerated the demand and adoption of octabins in the food business, causing their sales to skyrocket in the upcoming years.

Data Bridge Market Research analyses that the octabin market was valued at USD 358.00 million in 2021 and is expected to reach USD 543.20 million by 2029, registering a CAGR of 5.35 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Report Scope and Market Segmentation

Market Definition

Octabins are a heavy-duty packaging solution which is mainly used for the storage and transportation of bulk cargo such as power, granular and other loose fill products. The octabins are made from heavy-duty corrugated board and this octagonal shaped pack consists of a sleeve, base and lid, which can be manually erected. Octabins provide an environmentally friendly and cost effective alternative to wooden and metal crates. The heavy-duty but lightweight material declines the load's weight and reduces the shipping charges and carbon emissions.

Octabin Market Dynamics

Drivers

• Increasing demand for storage and transits

Octabins are the bulk packaging solutions due to this increase the demand of octabin for transportation and storage of large volumes of consignments in several sectors such as chemical and petroleum, food, agriculture services, pharmaceuticals sectors have resulted in a rapid surge in the growth of the octabin market. 

• Rising demand in food industry

The demand for octabins is rapidly increasing overall the food industry due to their lightweight, cost-effectiveness, durability, versatility and bulk packaging feature. The octabin market are expected to drive by these factors. octabins are mainly used to transport and store fresh produce, fruits, vegetables, ingredients, and other dry food products. The rising demand of octabin in food industry are expected to drive the revenue growth of the market.

Opportunities

• Growing demand for eco-friendly solutions

Octabins are becoming more popular among industries and aiming to achieve their sustainability goals, due to their eco-friendly nature such as effective printability, reusability, recyclability, and metal-free closure options. The growing consumer inclination towards adopting environment friendly packaging solutions are expected to create the ample opportunities for the growth of the octabin market.

Moreover, the rise in number of strategic collaborations and increase in emerging new markets will also act as market drivers and boost the beneficial opportunities for the market's growth rate.

Restraints/ Challenges

• Availability of alternatives

However, the availability of lighter and smaller packaging solution and presence of many other alternatives will act as market restraints and further challenge the growth of the octabins market during forecast period.

Also, higher cost of packaging than any other type of food packaging will be expected to obstruct the growth of the octabin market during the forecast period. 

This octabin market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the octabin market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Octabin Market

COVID-19 had a negative effect on the several market. The pandemic has affected various industries. The major reason for the reducing demand of products was supply chain disruption and shut down of manufacturing units. On the other hand, the market is anticipated to accelerate in the upcoming years whichwill lead to improve the market share of the octabins in the forecast period.

Recent Development

• In January 2022, Smurfit Kappa is one of the major providers of paper-based packaging solutions in the globe, which has completed an investment of over USD33 million in Brazil to enlarge the capacity of its plant in Fortaleza to meet the increasing demand for sustainable and innovative packaging. The expansion, including the installation of a new corrugator, will significantly outspread the plant’s Shelf Ready Packaging capability for FMCG consumers in a range of sectors including home appliances, fresh fruit, and pharmaceuticals. 
• In December 2021, Mondi, opened a new laboratory at Mondi Bupak in Ceske Budejovice which is ISTA-certified laboratory. This is hub for developing and producing eCommerce packaging and one of its Central European corrugated solutions flagship plants. The laboratory provides various transport performance tests, including ISTA 6 certification testing for packaging. 

Global Octabin Market Scope

The octabin market is segmented on the basis of product, capacity and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Free Flow Base Octabins
• Base Discharge Octabins
• Self-Assembly Octabins
• Standard Octabins
• Telescopic Octabins

 Capacity

• Customized
• Standard

 End User

• Consumer Goods
• Food Industry
• Chemical Industry
• Others

Octabin Market Regional Analysis/Insights

The octabin market is analysed and market size insights and trends are provided by country, product, capacity and end-user as referenced above.

The countries covered in the octabin market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.

Asia-Pacific dominates the octabin market in terms of revenue and will continue to flourish its during the forecast period. This is due to the growing demand for octabin in this region. The Asia-Pacific region dominates the octabin market, with india and China leading the way in terms of growth of the many industries along with growing number of research and development activities in this region.

During the estimated period, North America is anticipated to be the fastest developing region due to its ability to withstand bulkiest loads, cost-effectiveness, and versatility attributes .

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Octabin Market Share Analysis

The octabin market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to octabin market.

Some of the major players operating in the octabin market are:

• Smurfit Kappa (Ireland)
• DS Smith (U.K.)
• Mondi (U.K.)
• International Paper (U.S.)
• TRICOR AG (Germany)
• Rondo Ganahl Aktiengesellschaft (Austria)
• Quadwall (U.S.)
• Avon Containners (India)
• Udit Packaging (India)
• PAYPER (India)
• vQm packaging (Netherland)
• Napco National (Saudi Arabia)
• Klingele Group (Germany)
• DVA Group (Germany)
• Georgia-Pacific (U.S.)
• Menasha Corporation (U.S.)
• Rengo Co., Ltd (Japan)
• WestRock Company (U.S.)