At 4.5% CAGR, North America Corrugated Bulk Bins Market is Projected to be Worth US$ 4,123.01 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America corrugated bulk bins market was valued at US$ 2,892.35 million in 2023 and is projected to reach US$ 4,123.01 million by 2031, registering a CAGR of 4.5% from 2023 to 2031. Integration of RFID in the corrugated bulk bins and strategic initiatives by key market players are among the critical factors attributed to drive the North America corrugated bulk bins market growth.

The integration of radio-frequency identification (RFID) technology into corrugated bulk bins represents a significant advancement in packaging and supply chain management. The RFID integration aids in enhanced inventory management, improved logistics, better security, and greater overall operational efficiency. The technology enables real-time tracking of corrugated bulk bins throughout a supply chain. The scanning of RFID tags attached to the bins in transit offers instant updates on their location and status. The real-time visibility helps in maintaining accurate inventory levels and reducing discrepancies. It also eliminates the need for manual inventory management, which can be time-consuming and prone to errors. Thus, RFID technology helps streamline logistic operations by automating the tracking and management of corrugated bulk bins. RFID technology also speeds up the processing of corrugated bulk bins at various checkpoints, such as receiving docks, warehouses, and distribution centers. The enhanced traceability benefit allows businesses to build confidence among their customers. Food manufacturers are making significant investments to enable visibility into the supply chain and get real-time insights. In June 2023, the US Food and Drug Administration updated tools for the Food Traceability Rule, designed to facilitate faster identification and rapid food recalls. Thus, the integration of RFID in the corrugated bulk bins is expected to emerge as a significant trend in the North America corrugated bulk bins market in the coming years.

On the contrastingly, availability of alternatives hampers the growth of North America corrugated bulk bins market.

Based on type, the North America corrugated bulk bins market is segmented into single-wall, double-wall, and triple-wall. The triple- wall segment held 55.8% market share in 2023, amassing US$ 1,614.09 million. It is projected to garner US$ 2,346.62 million by 2031 to register 4.8% CAGR between 2023-2031.

By form, the North America corrugated bulk bins market is categorized into hinged, totes, pallet, and others. The pallet segment held 42.2% share of North America corrugated bulk bins market in 2023, amassing US$ 1,219.98 million. It is anticipated to garner US$ 1,731.38 million by 2031 to expand at 4.5% CAGR during 2023-2031.

In terms of application, the North America corrugated bulk bins market is categorized into food & beverages, industrial equipment & parts, construction, electrical & electronics, chemicals, pharmaceuticals, and others. The food & beverages segment held 50.2% share of North America corrugated bulk bins market in 2023, amassing US$ 1,450.97 million. It is anticipated to garner US$ 2,125.36 million by 2031 to expand at 5.1% CAGR during 2023-2031.

Based on country, the North America corrugated bulk bins market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.0% share of North America corrugated bulk bins market in 2023. It was assessed at US$ 2,197.61 million in 2023 and is likely to hit US$ 3,162.43 million by 2031, registering a CAGR of 4.7% during 2023-2031.

Key players operating in the North America corrugated bulk bins market are Atlantic Packaging Products Ltd., DS Smith Plc, Elsons International, Georgia-Pacific LLC, Greif Inc, Hobbs Container Co, Indevco Paper Containers, International Paper Co, Mondi Plc, Monte Package Company LLC, Packaging Corp of America, Reusable Transport Packaging, Smurfit Kappa Group Plc, The Cary Company, Tri-Wall Limited, VISY Industries Australia Pty Ltd, and WestRock Co, among others.

• In 2024, Greif Inc. is Opening New Bulk Corrugated Manufacturing Facility in Dallas, Texas.
• In 2024, International Paper Announces Agreement to Acquire DS Smith.

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