Vantage Market Research
Dec 08, 2021
The global agricultural packaging market exhibited moderate growth during 2015-2020. The market is anticipated to grow at a CAGR of 5.81% during 2021-2026. Agricultural packaging refers to the storing and packaging of fertilizers, pesticides, yield, and other products. Some of the common types of agricultural packaging include silo bags, bulk bags, pouches, bottles, drums, cans, trays, clamshells, etc., and are manufactured using paperboard, metal, glass, and jute. They can also be produced using high-density polyethylene (HDPE), low-density polyethylene (LDPE), and polypropylene (PP). These products offer ample ventilation and protection to the contents from spoilage during post-harvest treatments, storage, and transportation.
Key Findings:
- The agricultural packaging market is estimated to be valued at USD 3.93 billion in 2018.
- The agricultural packaging market is projected to grow at a CAGR of 5% from 2018 to 2023.
- The Asia Pacific region dominated the market in 2017.
The key players have been identified through secondary sources such as Bloomberg, Businessweek, Factiva, agricultural magazines, and the company’s annual reports while their market share in the respective regions has been determined through both primary and secondary research. The research methodology includes the study of annual and financial reports of top market players, as well as interviews with industry experts (such as CEOs, VPs, directors, and marketing executives) for key insights (both quantitative and qualitative) for the agricultural packaging market.
The agricultural packaging market is a relatively small sector of the industrial packaging market; significant evolution has been observed with regard to the packaging of chemical pesticides and fertilizers. Regulatory guidelines and R&D are the major factors that have been fueling the growth of this market. The application of PET and HDPE plastics for the confinement of pesticides revolutionized the agrochemical packaging industry. The increasing need for effective storage and transport of pesticides and fertilizers and rising demand for the longer shelf life of these products are the driving factors for the steady growth of this market.
The Asia Pacific is estimated to account for the largest market share in 2018, followed by North America in the agricultural packaging market over the next five years. The growing trade opportunities of agrochemicals across the globe, especially in countries such as China, India, the US, Canada are the major factors contributing to the high growth opportunities in these regions. Agricultural packaging for fertilizers is expected to boost the growth rate in Europe as the growth in the region has been highly hampered by the growing regulations on chemical pesticide usage and maximum residue limit.