The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Global agricultural packaging market was valued at US$3.852 billion in 2017 and is projected to expand at a CAGR of 5.62% over the forecast period to reach US$5.349 billion by 2023. Growing global population is pressurizing the agricultural sector to increase the productivity on the limited arable land. However, a large share of food loss stems from inefficient supply chains. According to the UK’s Birmingham Energy Institute, more than 90% of the food wastage in developing countries occurs during storage and transportation. Thus, rise in awareness regarding the loss of food products during harvest and shipping across global market is significantly driving the demand for sustainable and cost-effective agricultural packaging solutions. Growing cases of pest attacks is boosting the usage of various crop protection chemicals which, in turn, escalating the demand for agricultural packaging solutions for agrochemicals.
By material, plastic holds a considerable market share on account of high demand for packaging of pesticides and fertilizers. Moreover, pesticides in liquid form are often packed in plastic bottles or cans, thus positively impacting the demand for plastic as packaging material. Companies are investing heavily in the manufacturing sustainable plastic packaging solutions for agri-products. Recently in August 2018, global packaging provider Mondi presented its latest containerboard portfolio member, ProVantage Powerflute at the major industry events Fachpak and Scanpak.This packaging solution is specifically designed for the safe packaging and long-distance transport of fruits and vegetables.
Geographically, APAC holds the largest market share of global agricultural packaging market owing to the rising production capacities of agrochemicals in countries like China and India. Recently in January 2018, multi-business entity SRF Ltd has received the environment clearance for the expansion of its specialty chemicals, pesticide, and fluorochemicals manufacturing plant at Dahej in Gujarat. Rising exports of various agricultural commodities of APAC countries across the globe also contributes to the dominance of this regional market. As per the Australian Agriculture Trade Performance 2016/17, agri-food exports accounted for 13.7% of all Australian exports during that year.
Market players are competing by launching innovative and advanced agricultural packaging solutions for different commodities in order to gain a larger market share. In 2016, ROP collaborated with the Volcani Centre Agricultural Research Organization’s storage lab and unveiled the new environmental-friendly packaging for avocado, persimmon, and lychee that preserves the fruits’ freshness as well as nutritional values.
Agricultural Packaging market has been analyzed through following segments:
? By Material
- ·Composite Materials
- ·Paper and Paperboards
? By Product
- ·Pouches and Bags
? By Geography
- ·North America
- ·South America
- ·Middle East and Africa
? Saudi Arabia