MarketAs specified by an all-encompassing report of Vantage Market Research, providing insights on material, product type, application, and barrier strength, the global agricultural packaging marketis valued at USD 4.53 Billion in 2020. Agricultural packing is a small sector of the industrial packing market. The agricultural packaging market growth has observed a positive growth in the last decade mainly owing to the increasing packing of components such as chemicals, fertilizers, and pesticides. The stringent regulatory guidelines of governments and the research and development (R&D) sector are the major factors that are driving the agricultural packaging market.
The material segment is classified into plastic {flexible plastic, rigid plastic), metal, paper & paperboards, composite materials, and others (glass, nanomaterials, and jute). The application segment is split into chemical pesticides, chemical fertilizers, and 10;Furthermore, the product type segment is fragmented into pouches & bags, drums, bottles & cans, others (sacks, tubes, and jars). Additionally, the Barrier Strength segment is divided into low, medium, and high.
The COVID-19 pandemic has fraught several sectors and led to tremendous loss of revenue for almost all the sectors globally, and the agricultural packaging market wasn’t an exception. With travel restrictions on board, companies suffered the loss of revenue and it also made a significant dent in the agricultural packaging market growth. Due to the strict lockdown, the local companies were shut down, which has led to a decrease in the production of packaging material making the huge supply and demand gap for packaging materials.
However, owing to the COVID-19 pandemic, the government has passed several regulations regarding safety which is likely to increase the demand for the packaging market, which in turn, will further propel the market growth.
The Asia Pacific region is projected to embrace the largest share of the agricultural packaging market for the year 10;However, North America is estimated to be second leading in the market owing to the presence of the major manufacturers in the region. The rising trade opportunities in countries such as India, China, Canada, and the U.S. for agrochemicals across the globe is likely to compel the market players for better & advanced material, and technology for packing agricultural products. Thus, which in turn will further boost the agricultural packaging market growth.
Some of the key players in the Agricultural Packaging market include Amcor Limited, NNZ Group, Bemis Company, Inc., LC Packaging International BV, Sonoco Products Company, Parakh Group, Greif Inc., Mondi Group, and Packaging Corporation of America, Flex-Pack, Purity Flexpack Limited, Silgan Holdings, Inc., Epac Holdings LLC, Kenvos Biotech Co., 10;Proampac LLC, and others.