North America Silo Bags Market Set for Steady Growth with a 5% CAGR Until 2033: Unveiling Trends and Projections

The current valuation of the North American silo bags market stands at approximately US$ 47.2 million in 2023, with a projected Compound Annual Growth Rate (CAGR) of 5% anticipated until 2033, as analyzed by FMI. According to the market analysis report, the North American silo bags market is expected to witness steady growth, reaching a value of US$ 76.9 million by the conclusion of 2033. This forecast underscores the sustained demand for silo bags in the region, driven by factors such as increased agricultural activities and the need for efficient storage solutions in the evolving landscape of the agricultural sector.

Packaging is amongst the vital constituents in the present-day scenario owing to need for aversion of wastage of grains. As such, the customers are showing inclination toward silo bags. They are available in customized format. In other words, the bags’ length is dependent on quantity of the material to be stored along with packaging purposes.

Grain wastage does hinder the crops’ overall production. Plus, population explosion is likely to make way for tremendous pressure on agricultural crops’ overall production. Silo bags do help in increasing the life-span of crops as well. Plus, silo bags do proffer comfort of ‘supple storage’ at a proper location when it’s not possible to go for permanent storage.

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Saving the crops would certainly help in growing North America Silo Bags market as quantitative frequency would be increasing. These factors are expected to accelerate North America Silo Bags Market in the near future. Eco-friendliness is another factor that North America revolves around.

Future Market Insights has walked through these facades with future perspectives in its latest market study entitled ‘North America Silo Bags Market’. The team of analysts and consultants is there to execute with its eagle’s eye view in primary, secondary, and tertiary modes of research.

“Growing awareness regarding grains’ wastage at the time of cultivation is expected to take North America Silo Bags Market by storm in the forecast period”, says an analyst from Future Market Insights.

Market Drivers:

1. Growing Agricultural Production: Increased demand for food due to population growth and changing dietary patterns is driving higher agricultural production, which, in turn, boosts the need for efficient storage solutions like silo bags.
2. Cost-Effective Storage: Silo bags are often considered a cost-effective alternative to traditional storage methods such as silos or warehouses. Farmers may opt for silo bags to reduce initial investment costs.
3. Flexibility and Mobility: Silo bags provide flexibility in terms of location, allowing farmers to store crops closer to the field. This flexibility is advantageous, especially in regions with a dispersed agricultural landscape.
4. Reduced Post-Harvest Losses: Silo bags help in minimizing post-harvest losses by providing a protective environment against pests, weather conditions, and spoilage. This reduction in losses is a significant driver for the adoption of silo bags.
5. Technology Advancements: Continuous advancements in the design and materials used in silo bags contribute to improved durability, airtight sealing, and overall performance, making them more appealing to farmers.

Market Restraints:

1. Limited Storage Capacity: Silo bags may have limited storage capacity compared to traditional silos. This can be a constraint for larger-scale agricultural operations that require extensive storage.
2. Environmental Concerns: The use of plastic materials in some silo bags raises environmental concerns, particularly regarding disposal and the long-term impact on ecosystems. This can lead to regulatory challenges and a shift toward more sustainable alternatives.
3. Infrastructure and Awareness: Lack of awareness and inadequate infrastructure in some regions may impede the widespread adoption of silo bags. Farmers need to be educated about the benefits and proper usage of these storage systems.
4. Risk of Damage: Silo bags are susceptible to damage from wildlife, rodents, and sharp objects. In areas with a high risk of such issues, farmers may be hesitant to invest in silo bags.
5. Seasonal Nature of Usage: Silo bags are typically used seasonally during harvest times. The limited usage throughout the year may affect the overall cost-effectiveness for some farmers.

Key Takeaways from North America Silo Bags Market

• The US is expected to hold a sizable market share due to the USDA (US Department of Agriculture) stating that agriculture and industries related to it did contribute 5.2% to the GDP in 2023 alone.
• Canada comes in second with Government of Canada being subject to production of oilseeds and grains reaching 90K thousand tons in the year 2021. The scenario is expected to remain unchanged going forward.

Competitive Landscape

• In March 2019, RKW Hyplast NV installed a multilayer extrusion line to expand its production capacity for silo bag production.
• In August 2021, it announced a seven-figure investment to enhance the production of highly recycled content plastic films at the Echte, Germany plant.

The Major Key Players Are:

• IPESA – Rio Chico S.A.
• GEM Silage Products
• RKW Hyplast NV.
• BagMan LLC
• Canadian Tarpaulin Manufacturers Ltd.
• Grain Bags Canada
• Blue Lake Plastics, LLC
• Grain Pro, Inc.
• KSI Supply, Inc.
• Temudjin Flex-Pack B.V.

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Key Segments Covered by North America Silo Bags Industry Survey Report

by Length Type:

• 60 Meters
• 75 Meters
• 90 Meters

by Capacity:

• Up to 200 Metric Ton
• More than 200 Metric Ton

by Material Type:

• Polyethene (PE) Silo Bags
  • Low-Density Polyethylene (LDPE) Silo Bags
  • High-Density Polyethylene (HDPE) Silo Bags
• Polypropylene (PP) Silo Bags
• Other Silo Bags

by Application:

• Grain Storage
  • Dry Grains
  • Wet or Humid Grains
  • Rolled Grains
• Forage Storage
• Fertilizer Storage
• Dried Fruits Storage
• Wood Chips Storage
• Other Applications

by Country:

• The United States Market
• Canada Market

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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