At 3.5% CAGR, South & Central America Corrugated Bulk Bins Market is Projected to be Worth US$ 1,258.99 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the South & Central America corrugated bulk bins market was valued at US$ 952.55 million in 2023 and is anticipated to reach US$ 1,258.99 million by 2031, recording a CAGR of 3.5% from 2023 to 2031. Continuous growth of food & beverages industry and integration of RFID in the corrugated bulk bins are among the critical factors attributed to drive the South & Central 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. Thus, the integration of RFID in the corrugated bulk bins is expected to emerge as a significant trend in the South & Central America corrugated bulk bins market in the coming years.

On the contrary, availability of alternatives hampers the growth of South & Central America corrugated bulk bins market.

Based on type, the South & Central America corrugated bulk bins market is segmented into single-wall, double-wall, and triple-wall. The triple- wall segment held 59.4% market share in 2023, amassing US$ 565.40 million. It is projected to garner US$ 760.36 million by 2031 to register 3.8% CAGR between 2023-2031.

By form, the South & Central America corrugated bulk bins market is categorized into hinged, totes, pallet, and others. The pallet segment held 48.5% share of South & Central America corrugated bulk bins market in 2023, amassing US$ 461.88 million. It is anticipated to garner US$ 607.49 million by 2031 to expand at 3.5% CAGR during 2023-2031.

In terms of application, the South & Central 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 60.6% share of South & Central America corrugated bulk bins market in 2023, amassing US$ 577.33 million. It is anticipated to garner US$ 779.75 million by 2031 to expand at 3.8% CAGR during 2023-2031.

Based on country, the South & Central America corrugated bulk bins market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 47.2% share of South & Central America corrugated bulk bins market in 2023. It was assessed at US$ 449.89 million in 2023 and is likely to hit US$ 607.00 million by 2031, registering a CAGR of 3.8% during 2023-2031.

Key players operating in the South & Central America corrugated bulk bins market are Cartocor SA, DS Smith Plc, Georgia-Pacific LLC, Greif Inc, Indevco Paper Containers, International Paper Co, Mondi Plc, Smurfit Kappa Group Plc, Tri-Wall Limited, WestRock Co, and VISY Industries Australia Pty Ltd, among others.

• In 2024, Atlantic Packaging rolls out second-gen beverage carrier packaging.
• In 2024, International Paper Announces Agreement to Acquire DS Smith.
  
  

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