Nurturing Efficiency and Preservation: Rising Demand for Agriculture Packaging Solutions Driven by Food Waste Reduction Goals

In 2022, the market for packaging used in agriculture was estimated to be worth $6,478.3 million. This is anticipated to increase at a Y-o-Y growth rate of 5.4% to reach US$ 6,831 million by the end of 2023, according to Future Market Insights. With an anticipated CAGR of 5.3% from 2023 to 2033, the market for farm packaging is further positioned to grow. A valuation of US$ 11,449.1 million is anticipated by 2033.

The demand for sustainable agricultural products is on the rise due to the increasing oceanic pollution coupled with the high usage of plastic packaging. As a result, the requirement for convenience packaging of agricultural products will soar, largely contributing to market growth.

Also, with rise in disposable income across developing countries, consumers have increased the consumption of packaged foods, which in turn supports the market growth.

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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. 

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.

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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.    

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

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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

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About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.

This release was published on openPR.