Agricultural Packaging Market
Global Agricultural Packaging Market Expanding to Surpass USD 7.6 Billion by 2028
Published | 14 September 2022
Global Agricultural Packaging Market is growing mainly due to the exploding world population, rapid urbanization, an increasing demand for crops used as feed, fuel, fiber, and feedstock, and technology advancements focused on reducing food waste and sustainable packaging.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Global Agricultural Packaging Market size at USD 5.36 billion in 2021. And BlueWeave expects the Global Agricultural Packaging Market to grow at a CAGR of 5.3% between 2022 and 2028 to reach a value of USD 7.68 billion by 2028. The market growth during the forecast period (2022–2028) is driven by an increasing need to feed rapidly growing world population and a growing need for and focus on reducing waste in agriculture produces and food in a sustainable way.
Global Agricultural Packaging Market - Technology Advancements
KM Packaging introduced a new line of compostable products in January 2021. Shrink wrap, stretch wrap, sticky tape, netting, and bags are among the bioplastic packaging products in the C-Range. These bioplastic items were created in collaboration with Treetop Biopak, a company that specializes in offering cutting-edge solutions for compostable packaging. With the introduction of BanaBag in October 2020, Smurfit Kappa, a manufacturer of paper-based packaging solutions, expanded its line of environment friendly and biodegradable products for the agriculture industry. The requirement for quality control during the entire growth cycle of the banana plant is addressed. In addition to shielding the fruit from pests and illness, BanaBag helps prevent overheating, which can happen when using other materials such as plastic. The "BioNanocel" R&D Project, started in April 2020 by the Spanish technological center for plastics Andaltec, aims to create bio-based active plastic packaging made with cellulose derived from vegetal biomass. The goal of this program is to provide improved, sustainable plastic materials for the food sector. It will recycle the often discarded vegetable biomass waste from agriculture activities.
Spurring Need to Feed Rapidly Growing World Population
As food and beverage packaging regulations have become more stringent, agriculture packaging has become more common. The expanding population is another important aspect affecting the sector. The demand for importing and exporting goods related to agriculture has also grown dramatically as a result of globalization. Additionally, the production per yield has increased as a result of the green revolution and additional research and development. Modern packaging techniques have made it simpler for farmers and wholesalers to store the goods with less waste and have also made them more practical for transportation. The demand for food has greatly increased due to the growing world population. The world's population was 7.8 billion in 2020, exploded from 6.1 billion in 2000, according to figures from the World Bank. In 2050, the population may exceed 9.7 billion, according to the UN. To feed a rapidly growing global population, the need for food has dramatically increased. Along with the rise in demand for food, there has been an increase in demand for crops used as feed, fuel, fiber, and feedstock. Agriculture packaging has also made transportation and storage simpler in response to the growing urban population. More than 56% of the population resides in urban areas, according to the World Bank. As a result, processed food and junk food demand rises.
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Global Agricultural Packaging Market - Segmental Coverage
The market for agricultural packaging can be divided into pouches and bags, bottles, cans, and other containers such as jars, tubes, and sacks based on the products they contain. Agrochemical products in solid/dry formulation have been introduced by several major firms. The protection of agrochemicals against loss during handling and storage is improved by the use of pouches and bags. Consequently, it is projected that the pouches and bags segment would grow rapidly during the projected period. Agriculture packaging materials can be segmented into plastics, metals, paper & paperboards, composite materials, and others including glass, nano-materials, and jute. The market's plastics category can be further divided into rigid and flexible plastics. Pesticides and fertilizers are frequently packaged in plastic. As low-cost raw materials such as polythene are widely available, the plastics market is expected to grow during the forecast period. The agricultural packaging market based on barrier strength can be categorized into low, medium, and high barrier strength. By 2028, the market for medium barrier strength is expected to be a lucrative segment as medium barrier containers are reasonably priced and have a medium level of barrier strength.
Global Agricultural Packaging Market - Regional Insights
Global Agricultural Packaging Market by geography is segmented into major regions: North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. When it comes to market share, Asia Pacific is expected will dominate the agricultural packaging industry during the forecast period. It is mainly because of the region's rising demand for agricultural packaging. North America is forecast to record the fastest growth rate during the period in analysis, due to the region's expanding use of packaging for solid grains, liquid insecticides, and seed storage.
Impact of COVID-19 for Global Agricultural Packaging Market
Many countries declared a surplus for the agriculture industry during the Covid-19 pandemic to reinforce the sector's supply chain and storage, which includes agricultural packaging. However, the COVID 19 pandemic did have some impact on the market for agricultural packaging. For instance, the Indian government has declared a surplus for agricultural arrangements of INR 1 lakh crore. All of them will aid in the market's quick recovery following the outbreak. The enormous growth of the agriculture industry and the expanding global market for agriculture produces, on the other hand, are expected to fuel the expansion of agricultural packaging market across the globe. Additionally, harvest shipments are increasingly being transported securely across various regions of the world as a result of the growing population and the necessity for food and agricultural packing solutions.
Details about each competitor are provided in the competitive landscape for agriculture packaging in the study. The report on Global Agricultural Packaging Market includes major companies’ financials, revenue, market potential, investments in R&D, new market initiatives, global presence, production sites and facilities, production capacities, strengths and weaknesses, product launches, product width and breadth, and application dominance. The data points mentioned above only pertain to the companies' market focus on farm packaging. TIPA Ltd. (Israel) and SmartSolve Industries (US) are one of the few top players in the global agricultural packaging market.
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- Agricultural Packaging Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Material (Plastic, Metal, Paper & Paperboard, Composites), By Product (Pouches & Bags, Drums, Bottles & Cans), By Application (Chemical Pesticides, Chemical Fertilisers, Biologicals), By Barrier Strength (Low, Medium, High), By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: September 2022
The demand for the Global Agricultural Packaging Market is anticipated to rise at a CAGR of 5.81%, from USD 4.53 billion in 2020 to USD 7.12 billion in 2028.
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