Agricultural Films Market to be Worth $23.39 Billion by 2031

Meticulous Research®- a leading global market research company, published a research report titled 'Agricultural Films Market by Type (Greenhouse Films, Mulching Films, Silage Films), Raw Material (Conventional Plastics {LLDPE, LDPE, HDPE}, Biodegradable Plastics {Thermoplastic Starch, Polyhydroxyalkanoates, Polylactic Acid}) - Global Forecast to 2031.'

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According to this latest publication from Meticulous Research®, the agricultural films market is projected to reach $23.39 billion by 2031, at a CAGR of 6.9% during the forecast period 2024-2031. Factors propelling the growth of this market are the increasing food demand owing to the rise in population, adverse effects of global warming and changing climate conditions, growing demand for high-quality food crops, and rising innovations in agricultural films. However, the high cost associated with the installation and stringent environmental regulations on plastic usage are restraining the growth of this market. Moreover, the rising number of nano greenhouses and the growing number of biodegradable films in developed regions are expected to generate significant growth opportunities for the stakeholders in this market. On the other hand, environmental concerns and plastic waste pose major challenges to market growth.

Key Players

Some of the key players operating in the agricultural films market are Berry Global Group, Inc. (U.S.), Coveris Flexibles UK Ltd. (U.K.), RKW SE (Germany), BASF SE (Germany), Ab Rani Plast Oy (Finland), Exxon Mobil Corporation (U.S.), POLIFILM GmbH (Germany), PLASTIKA KRITIS S.A. (Greece), Armando Álvarez S.A. (Spain), Novamont SpA (Italy), Groupe Barbier (France), Sigma Plastics Group (U.S.), The Dow Chemical Company (U.S.), Agripolyane (France), and Trioworld Industrier AB (Sweden).

The agricultural films market is segmented based on type (greenhouse films {classic greenhouse films, macro tunnels/walking tunnels, and low tunnels}, mulching films {black mulches, transparent or clear mulches, and other mulches}, silage films {silage stretch wraps, silage sheets, and silage bags}, and other applications), raw material (conventional plastics {linear low-density polyethylene [LLDPE], low-density Polyethylene [LDPE], high-density polyethylene [HDPE], polypropylene [PP], and other conventional plastics}), biodegradable plastics {thermoplastic starch, polyhydroxyalkanoates [PHA], polylactic acid [PLA], and other biodegradable plastics}), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on type, the mulching films segment is expected to account for the largest share of the agricultural films market in 2024. The segment's large market share is mainly attributed to its benefits, such as inhibiting the growth of weeds, preventing moisture loss, regulating soil temperature, and improving crop yield. In addition, mulching films minimize the need for pesticides and conserve water, which aligns with sustainable and environment-friendly farming techniques. Farmers across a variety of agricultural landscapes appreciate the economic and environmental benefits of mulching films, which has led to their widespread use.

However, the greenhouse films segment is projected to witness significant growth during the forecast period of 2024-2031. The rapid growth of this segment is mainly driven by its low installation costs, increased soil protection, controlled climatic conditions, control of pests and diseases, and the high durability of greenhouse films.

Based on raw material, the conventional plastics segment is expected to account for the largest share of the agricultural films market in 2024. The segment's large market share is mainly attributed to its easy availability, low cost, excellent mechanical properties, flexibility, resistance to cracking and UV rays, and high tensile strength. In addition, it can be employed to make thinner films with better environmental stress and good resistance to chemicals.

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Based on geography, the agricultural films market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, the Asia-Pacific region is expected to account for the largest share of the agricultural films market. The large share of this regional market is mainly attributed to the growing awareness about the benefits of modern farming techniques, rising demand for food, favorable regulations & government policies on agricultural produce & trade, and growing emphasis on high-value and export-oriented cultivation of fruits & vegetables.

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