Competition in Agricultural Packaging Market will soar as Players Eye on Strategic Collaborations for Edge: Future Market Insights
- The agriculture packaging market study by Future Market Insights (FMI) offers exclusive insights into key segments including product and material. It underscores product launches as key strategy adopted by market players aiming at expanding their footprint globally.
DUBAI, UAE, Aug. 31, 2021 /PRNewswire/ -- The global market for agricultural packaging is anticipated to grow at a CAGR of 5.4% over the forecast period, from 2021 to 2031, totaling US$ 6,152 Mn in 2021.
The demand for sustainable agricultural products is on the rise due to the increasing oceanic pollution coupled with high usage of plastic packaging. As a result, the requirement for convenience packaging of agricultural products will soar, largely contributing to the market growth.
Also, with rise in disposable income across developing countries, consumers have increased the consumption of packaged foods, which in turn supporting the market growth.
Agricultural packaging manufacturers are increasingly focusing on offering sustainable packaging solutions including bags, pouches and bottles to consolidate their footprint. The market will continue showcasing steady rate of growth especially on account of expansion of e-commerce sector globally.
Apart from this, surging adoption of agrochemicals will give tailwinds to the sales of agricultural packaging.
Among various products, the bags/bins and pouches segment is forecast to grow at over 5.8% cumulatively over the forecast period, accounting for over 70% of market share in 2021. Meanwhile, in terms of materials, the plastic agriculture packaging segment will gain traction in the market due to easy availability of plastics.
Growth prospects for the North America market are likely to remain positive driven by increasing export and production of agriculture packaging products in the U.S. As per FMI, the North America market for agricultural products will expand at 4.4% in 2021.
"Increasing investment in research and development activities in the packaging industry will boost the market. Besides this, the implementation of strict laws regarding usage of non-biodegradable packaging for insecticides and pesticides will create a conducive environment for growth," said a FMI analyst.
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Key Takeaways from Agriculture Packaging Market Survey
- North America will remain a dominant market, expanding at a CAGR of 4.4% in 2021.
- Asia Pacific excluding Japan (APEJ) is anticipated to register a highest CAGR of 6.9% over the forecast period 2021-2031.
- Based on product, the demand for the bags/bins and pouches segment is estimated to grow at a CAGR of 5.8% over the forecast period, accounting for over 70% of market share in 2021.
- Europe market for agricultural packaging is estimated to rise at 3.7% CAGR driven by increasing export and production in Germany, France and other countries.
- Japan and South Korea are projected to exhibit growth at a CAGRs of 13% and 8% respectively of East Asia in 2021.
Key Drivers
- Increasing demand for effective storage and transport of pesticides and fertilizers is supporting the market growth.
- Adoption of agrochemicals and biologicals is driving the growth of the agricultural packaging market.
- Increasing preference for e-commerce retailing is significantly contributing towards agricultural packaging sales.
Key Restraints
- Volatility in the cost of raw material is a key factor impeding growth of agricultural packaging market.
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Competitive Landscape
Agricultural packaging market manufacturers are focusing on acquisitions, partnerships and new product offerings to expand their market footprint and gain a competitive edge in the market.
For instance, in 2021, Mondi announced the acquisition of Olmuksan, a leading Turkish corrugated packaging producer. With this acquisition, Mondi expands its presence in the region, fostering operational improvements and paper integration upside.
In 2021, Polysack, a global leader for manufacturing flexible packaging film products, collaborated with an Italian packaging manufacturer Flessofab and introduced a series of recyclable, eco-friendly, and stand up pouch packaging for large variety of applications.
Some of the leading players operating in the agriculture packaging market profiled by FMI are:
- Bemis Company, Inc.
- Sonoco Products Company
- Mondi Group
- LC Packaging International BV
- Packaging Corporation of America
- H.B. Fuller Company
- Atlantic Packaging
- NNZ Group
- Parakh Agro Industries Ltd.
- International Paper Company
- DS Smith Plc
- Smurfit Kappa Group Plc
- KapStone Paper and Packaging Corp
- Silgan Holdings, Inc.
- Tetra Pak International S.A.
- Greif, Inc.
- Time Technoplast Ltd.
- Berry Global, Inc.
- Proampac LLC
- Klöckner Pentaplast Group
More Valuable Insights on Agriculture Packaging Market
FMI, in its new report, offers an unbiased analysis of the global agriculture packaging market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in agriculture packaging market with detailed segmentation:
By Product Type:
- Pouches
- Bags / Bins
- Silo bags
- Clamshells
- Bottle
- Trays
- Bulk Containers
- Others
By Material Type:
- Plastic
- Rigid
- Flexible
- Paper Board
- Corrugated Board
- Carton board
- Glass
- Jute
- Others
By Barrier Type:
- Low-barrier
- Medium-barrier
- High-barrier
By Application:
- Seeds & Pesticides
- Silage
- Food grains
- Vegetable & Fruits
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific Excluding Japan
- China
- India
- Australia & New Zealand
- ASEAN
- Rest of APEJ
- Japan
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-7076
Key Questions Covered in the Agriculture Packaging Market Report
- The market survey also highlights projected sales growth for agriculture packaging market between 2021 and 2031
- The report offers insight into agriculture packaging demand outlook for forecast period 2021-2031.
- Agriculture packaging market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
- Agriculture packaging market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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