The global agriculture packaging market, valued at US$ 6,478.3 million in 2022, is set to witness steady growth. Predicted to reach US$ 6,831 million by the end of 2023 with a Y-o-Y growth rate of 5.4%, the industry is on a trajectory to expand further, projecting a CAGR of 5.3% from 2023 to 2033, ultimately reaching a valuation of US$ 11,449.1 million by 2033.
This growth is driven by the imperative need for efficient supply chains, which can reduce food waste, particularly during storage and transportation in emerging countries. Agriculture packaging not only safeguards contents but also aligns with the growing demand for food, increased fertilizer and pesticide use, and enhanced shelf life of agrochemicals, contributing to market stability and progress.
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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 industry will continue showcasing a steady rate of growth, especially on account of expansion of the e-commerce sector globally.
Apart from this, the 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 industry due to easy availability of plastics.
“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.
Agriculture Packaging Industry Growth Divers:
- Increasing Global Population: The growing world population necessitates intensified agricultural production, driving demand for innovative packaging solutions to ensure efficient storage and transportation of agricultural products.
- Technological Advancements: Adoption of advanced technologies in agriculture, such as precision farming and controlled environment agriculture, creates opportunities for specialized packaging solutions to protect and preserve crops throughout the supply chain.
- Rising Export Activities: As international trade in agricultural products expands, the agriculture packaging industry experiences increased demand for durable and compliant packaging solutions to meet stringent global quality and safety standards.
- Sustainability Initiatives: Growing awareness and concerns about environmental sustainability prompt the agriculture packaging industry to innovate eco-friendly solutions, aligning with global efforts to reduce plastic waste and adopt more sustainable packaging practices.
- Supply Chain Optimization: The need for efficiency in the agricultural supply chain drives the development of packaging solutions that enhance shelf life, reduce post-harvest losses, and ensure product quality, contributing to the overall growth of the agriculture packaging industry.
Key Takeaways:
- 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’s 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 industry.
- Increasing preference for e-commerce retailing is significantly contributing towards agricultural packaging sales.
Key Companies Profiled
- 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.
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Key Segments:
Product Type:
- Pouches
- Bags/Bins
- Silo Bags
- Clamshells
- Bottle
- Trays
- Bulk Containers
- Others
Material Type:
- Plastic
- Rigid
- Flexible
- Paperboard
- Corrugated Board
- Glass
- Jute
- Others
Barrier Type:
- Low-barrier
- Medium-barrier
- High-barrier
Application:
- Seeds & Pesticides
- Silage
- Food Grains
- Vegetables & Fruits
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Author
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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