Forecast Report on Global Mulch Market Size & Share [2022-2028] Worth USD 5957.97 Million | Exhibiting a CAGR of 6.2%: Industry Trends, Demand, Companies, Sales & Analysis | Zion Market Research
NEW YORK, May 24, 2022 /PRNewswire/ -- As per Zion Market Research study, The global mulch market was worth around USD 4152.90 million in 2021 and is estimated to grow to about USD 5957.97 million by 2028, with a compound annual growth rate (CAGR) of approximately 6.20 percent over the forecast period. The report analyzes the mulch market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the mulch market.
Key Industry Insights & Finding of the Mulch Market Reports:
- As per the analysis shared by our research analyst, the Mulch Market is expected to grow annually at a CAGR of around 6.20 % (2022-2028).
- Through the primary research, it was established that the Mulch Market was valued approximately USD 4152.90 Million in 2021 and is projected to reach to roughly USD 5957.97 Million by 2028.
- Asia-Pacific dominates mulch films market due to rising rapid industrialization and urbanization, rise in demand for food products, increasing government awareness programs meant to encourage the adoption of advanced farming techniques are the major factors for the growth of the mulch market over the upcoming years.
- North America is expected to be the fastest growing market within the forecast period due to growing adoption of advanced technology in agricultural along with the availability of cultivable lands and new horticultural technology implementation to enhance crop yield is projected to fuel the growth of the mulch market during the forecast period.
Zion Market Research published the latest report titled as "Mulch Films Market; Material Type(clear/ transparent, black, colored, degradable and others), By Element(Polyethylene [PE], Polypropylene [PP], Polyvinyl Chloride [PVC], Polylactic Acid [PLA]/Polyhydroxyalkanoates[PHA], Polybutylene Succinate [PBS], Ethylene-vinyl Acetate [EVA]), and Other Bio-based Material; Technology: Cast and Blown); and applications: Agriculture and Horticulture), By Location (Rural and Urban), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data and Forecasts 2022 – 2028." into their research database.
Mulch Market: Overview
Mulch films are increasingly used to modify soil temperature, minimize weed growth, and improve crop yield expanding population and the subsequent increase in food demand is driving sustained growth in the global agriculture industry. Mulch films are organic mulching materials derived from plants and animals, offering benefits such as weed control, maintenance of soil structure, and prevention of crops from soil contamination. Rising demand in greenhouse application coupled with rising environmental concerns about synthetic counterparts and rising population coupled with a shrinking agricultural land due to rapid urbanization and industrialization are the major factors propelling the growth of mulch films market.
The global mulch films market is anticipated to register fastest growth over the forecast period due to increasing crop productivity demand, rise in population and the increase in the per capita income of consumers are some of the factors driving the growth of the market during the forecast period. Furthermore, market players are responding to these new opportunities of increasing crop output by expanding their global presence and product lines. New farming methods and increase in awareness regarding mulch films is also driving the growth of the market over the upcoming years.
Increasing advancement in farming techniques coupled with growing awareness on crop wastage reduction is expected to have a positive influence on mulch films market. However, cost of installation of these films is relatively high which is considered as a restraining factor accountable to hamper growth of mulch films market. On the other hand, high concern towards environment and its surroundings, use of biodegradable mulch films in is projected to rise which is further anticipated to propel growth of mulch films market with more growth opportunities in the forthcoming period.
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Industry Dynamics:
Mulch Market: Growth Dynamics
Drivers: Increase in Government Initiatives.
Government initiatives are increasing the demand of agricultural crops which acts as a driver for the mulch films market during the forecast period. Due to heavy pressure of population and increasing demand for food at a fast rate owing to which the governments are spending heavily on initiatives and investments in the field of agriculture.
Restraints: High cost of installation is hampering the market growth.
High films disposal cost coupled with adverse chemical effect-based mulch films is expected to hamper the growth of mulch films market. Due to its high cost the low- and middle-income farmers are unable to purchase it which in turn is expected to restrain its market growth over the forecast period. The COVID-19 pandemic is expected to create a further rise in the price of Mulch Films owing to temporary shutdown of production facilities, labor movement, transport and roadblocks and eventually causing a disrupt in the supply chain of mulch films thereby increasing its price and restraining its market growth.
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Challenges: High service & treatment charges in mulches to hamper the market growth.
The charges connected with mulches are challenging the growth of mulch films market during the forecast period. This is mostly due to high operational costs and service charges. Technology is always improving, which has an impact on the cost because they must keep up with the latest equipment and technologies to maintain a competitive advantage.
Global Mulch Market: Segmentation
- The global mulch films market is segregated based on type, applications, element, and region.
By type, market is segmented into clear/transparent, black, colored, degradable, and others. Clear/transparent mulch is projected to grow at the highest CAGR during the forecast period due to their ability to block sun's infrared radiations. The films play a vital role in maintaining soil warmth, reducing growth of weeds, and conserving water, thereby leading to easy harvesting and increased crop yield.
By applications market is divided into horticulture and agriculture. Agriculture segment dominated the mulch films market and is growing at a highest CAGR during forecast period. Owing to large population and income increases, expanding urbanization, and dietary changes, food demand is expected to witness lucrative growth over the upcoming years.
By element, is segmented into LLDPE, LDPE, HDPE, EVA, PLA PHA, and others. LLDPE accounted for the largest share of the mulch films market. The EVA segment is projected to grow with the highest CAGR from during the forecast period due to high flexibility and strong weatherability which has led to the growth in demand for EVA. The rise in demand for plastic mulch films will lead to the growth of mulch films in the coming years.
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List of Key Players of Mulch Market:
- Dow Chemical Company FKuR Kunst Stoff GmbH
- Novamont
- S.p. ABerry Global
- IncAEP Industries Inc
- Trioplast Industrier AB
- Tilak Polypack Pvt. Ltd
- Ab Rani Plast Oy
- RKW Agri Gmbh & Co
- Industrial Development Company Sal (Indevco)
- Armando Alvarez Group
- BioBag International AS
- Exxon Mobil Corp
- BASF SE and Ginegar Plastic Products Ltd
Key questions answered in this report:
- What are the growth rate forecast and market size for Mulch Market?
- What are the key driving factors propelling the Mulch Market forward?
- What are the most important companies in the Mulch Market Industry?
- What segments does the Mulch Market cover?
- How can I receive a free copy of the Mulch Market sample report and company profiles?
Report Scope:
Free Brochure: https://www.zionmarketresearch.com/requestbrochure/mulch-film-market
Regional Dominance:
- Higher growth rate throughout the projection period.
Asia-Pacific dominates mulch films market due to rising rapid industrialization and urbanization, rise in demand for food products., iincreasing government awareness programs meant to encourage the adoption of advanced farming techniques are the major factors for the growth of the mulch market over the upcoming years.
North America is expected to be the fastest growing market within the forecast period due to growing adoption of advanced technology in agricultural along with the availability of cultivable lands and new horticultural technology implementation to enhance crop yield is projected to fuel the growth of the mulch market during the forecast period.
Global Mulch Market is segmented as follows:
Mulch Market: By Type Outlook (2022-2028)
- Clear/transparent
- Black
- Colored
- Degradable
- Others
Mulch Market: By Application Outlook (2022-2028)
- Agriculture
- Horticulture
Mulch Market: By Element Outlook (2022-2028)
- Polyethylene (PE)
- Polypropylene (PP)
- Polyvinyl Chloride (PVC)
- Polylactic Acid (PLA) / Polyhydroxyalkanoates (PHA)
- Polybutylene Succinate (PBS)
- Ethylene-vinyl Acetate (EVA)
- Other
Mulch Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Press Release For Mulch Market: https://www.zionmarketresearch.com/news/global-mulch-market
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