According to the latest report by IMARC Group, titled "Agricultural Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global agricultural packaging market is currently experiencing healthy growth. Agricultural packaging is essential for storing and packaging fertilizers, pesticides, yield and other agricultural products. It aids in avoiding spoilage or spillage of the contents during storage and transportation while providing them with ample ventilation and protection. The usage of good quality packaging helps in the preservation of perishable items for an extended period. These packing solutions are also durable and puncture-resistant in nature, which ensures safe and untampered transit of the contents. Consequently, agricultural packaging is widely used for product differentiation and food labeling across the agricultural sector.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Agricultural Packaging Market Trends:
The market is primarily driven by significant growth in the agricultural sector. Population explosion and rapid urbanization have contributed to an increase in the demand for food products, which, in turn, is contributing to the increased uptake of cost-effective agricultural packaging. Moreover, the rising awareness regarding the spoilage and loss of more than half the produced food between harvesting and consumption, due to poor handling and transportation, is expected to act as a major growth-inducing factor. Apart from this, there has been an increase in the trade of agricultural products on the global level. The growing utilization of good quality packaging solutions for the increasing import and export activities across diversified geographical locations is providing a thrust to the market growth. The advent of sustainable packaging materials with monitoring equipment is acting as another major growth-inducing factor. These materials are designed to adjust the temperature and track the quality of the packaged product while providing excellent barrier protection against air and moisture. On account of the aforementioned factors, the market is projected to grow at a CAGR of more than 4% during 2020-2025.
Market Summary:
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