Agricultural Packaging Market Scenario
The agricultural packaging market is estimated to garner a CAGR of 4.7% during the forecast period (2017-2023), unveils Market Research Future (MRFR) in a detailed report. Agricultural packaging assists in maintaining the original properties of agro-based products, which are packed and then transported to the grocery stores. It prevents agricultural products from spoiling before reaching the end users. Using the ideal agricultural packaging is essential for delivering fresh products.
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The top players dominating the global agricultural packaging market includes [MM1] H.B. Fuller Company (US), Ondi (Austria), Sonoco Products Company (US), Anderson Packaging Inc (US), Atlantic Packaging (US), RM CONVERTERS (India), LC Packaging (The Netherlands), Packaging Corporation of America (US), Flex-Pack (US), ProAmpac (US), NNZ Group (Netherlands), and Greif (US), Novolex (The US).
June 08, 2019: Makegrowlab has recently developed a new and innovative packaging which can compost easily. The packaging has been named Scoby and is entirely made of agricultural waste, weaved into a material. The material can be made into all kinds of packaging, which includes sachets for spices, wrappers for soap, and bags for cereal and rice. It can also be used as a clingfilm replacement to pop over bowls so that the food is kept fresh. The packaging acts as an ideal barrier from microbes, oxygen, and water and has a 2-year shelf life.
Market Potential and Pitfalls
The agricultural packaging market has witnessed a tectonic surge over the past few years, mainly due to the evolving e-commerce sector across the globe. With consumers preferring online shopping, there is a high requirement for product protection. This further elevates the scope for the agricultural packaging market across the globe. People are getting more conscious regarding food depletion and agro-based products. This acts as a major driving factor for the market. Governments across the world are taking initiatives for adequate storing and packaging of the products to reduce wastage. The ever-increasing population in economies like India and China has led to tremendous pressure on the production channels of food. This has further resulted in an increased demand for cost-efficient and effective packaging, thereby contributing to the growth of the agricultural packaging market. Agricultural packaging protects the items from breakage or leakage until used. It also protects the food against hazards during storage and distribution. Such benefits of agricultural packaging are fueling the market growth.
The swelling demand for convenient and user-friendly packaging for agricultural products is anticipated to expedite agricultural packaging market trends in the foreseeable future. These packaging products also provide a moisture and oxygen barrier, which improves the shelf life of agro-based products. This is further estimated to help the market garner hefty returns in the coming years. The escalating demand for increasing the shelf life of fertilizers and pesticides is enabling the market to accrue high proceeds.
On the contrary, the high capital investment and technical expertise required for the technology used in agricultural packaging are some of the major concerns likely to restrict the growth of the market in the coming years. Fluctuating prices of raw materials for plastic packaging also curb the growth of the market.
Global Agricultural Packaging Market: Segmental Analysis
The agricultural packaging market is segmented on the basis of material, product, barrier strength, and application.
By material, the agricultural packaging market is segmented into paper & paperboard, plastic, glass, and metal, and others. Among these, the plastic material dominates the market owing to its flexible properties.
Based on the product, the agricultural packaging market constitutes bags, pouches, trays, bottles, and others.
By barrier strength, the market is segmented into low, medium, and high. Among these, the medium barrier strength segment dominates the market as it is highly preferred by agrochemical manufacturers and farmers due to their cost-effective packaging solutions.
The application segment comprises chemical pesticides, chemical fertilizers, biologicals, and others. Among these, chemical fertilizers are used on a large scale.
Geographically, the agricultural packaging market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, the Asia Pacific region acquire the largest share in the global market. The regional market is likely to expand at the highest CAGR over the forecast period, mainly due to the increasing demand for food in the region’s ever-increasing population. The large production capacity of agrochemicals in India and China has made it possible for local and private companies to launch their products. The fragmented packaging industry, high labor power, and increased availability of packaging materials in the region have resulted in lower production cost. Also, with the surging demand for biologicals, efficient infrastructure, and growing trade opportunities for agrochemicals, the agricultural packaging market is experiencing an upthrust.
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