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; it is estimated to register a CAGR of 4.5% from 2023 to 2031.
As per the US Department of Transportation's Freight Analysis Framework – 2023, the freight volumes of cereal grains, seafood/meat, and milled grains transported to the US in 2023 were 1.19 million tons, 112,050 tons, and 156,863 tons, respectively. Further, 727,493 tons of food products and 4,031 tons of tobacco products were transported across the US in 2023. As per the US Department of Agriculture, the total sales value of retail food and beverages in Japan was US$ 327 billion in 2022.
The food & beverages industry generates a huge demand for efficient and cost-effective packaging solutions. Corrugated bulk bins are collapsible containers, which makes storage applications more efficient. The food & beverages industry often deals with large quantities of products that need to be transported and stored efficiently. Corrugated bulk bins hold a significant volume of goods, making them ideal for mass transportation and storage. These containers are made from recyclable materials, which makes them an environment-friendly option compared to containers made from plastics. As the food & beverages industry faces increasing pressure to adopt sustainable practices, the demand for recyclable storage and transportation products such as corrugated bulk bins are on the rise in this industry. Thus, the flourishing food & beverages industry drives the North America corrugated bulk bins market growth.
The food & beverage industry in the US is witnessing significant growth owing to increased imports and exports of agricultural produce to major economies such as Canada, China, Japan, Mexico, EU, and others. According to the U.S. Department of Agriculture, agricultural exports to China held the largest share, with a value of US$ 33.7 billion in 2023. Increased demand for agricultural produce such as fruits and vegetables boost the demand for corrugated bulk bins in the country. Additionally, the country is the largest contributor to the electrical & electronics industry in North America. The demand for products such as semiconductors and circuit boards are growing rapidly in the country. To meet this demand, the US government introduced the Science and CHIPS Act in 2022 to support semiconductor manufacturing incentives and research investments in the country. The growth of the electrical and electronics industry propels the demand for corrugated bulk bins in the US.
The North America corrugated bulk bins market is categorized into type, form, application, and country.
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 the largest market share in 2023.
In terms of form, the North America corrugated bulk bins market is categorized into hinged, totes, pallet, and others. The pallet segment held the largest market share in 2023.
By application, the North America corrugated bulk bins market is segmented into food & beverages, industrial equipment & parts, construction, electrical & electronics, chemicals, pharmaceuticals, and others. The food & beverages segment held the largest market share in 2023. Furthermore, the food & beverages segment are sub segmented into fresh produce, poultry meat & seafood, packaged foods, tobacco, and others.
By country, the North America corrugated bulk bins market is segmented into the US, Canada, and Mexico. The US dominated the North America corrugated bulk bins market share in 2023.
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 are some of the leading companies operating in the North America corrugated bulk bins market.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 2,892.35 Million |
| Market Size by 2031 | US$ 4,123.01 Million |
| CAGR (2023 - 2031) | 4.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Corrugated Bulk Bins Market is valued at US$ 2,892.35 Million in 2023, it is projected to reach US$ 4,123.01 Million by 2031.
As per our report North America Corrugated Bulk Bins Market, the market size is valued at US$ 2,892.35 Million in 2023, projecting it to reach US$ 4,123.01 Million by 2031. This translates to a CAGR of approximately 4.5% during the forecast period.
The North America Corrugated Bulk Bins Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Corrugated Bulk Bins Market report:
The North America Corrugated Bulk Bins Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Corrugated Bulk Bins Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Corrugated Bulk Bins Market value chain can benefit from the information contained in a comprehensive market report.
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