According to the latest report by IMARC Group, titled "Agricultural Packaging Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global agricultural packaging market reached a value of US$ 24.3 Billion in 2022. 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.
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 4.2% during 2023-2028.
- On the basis of the material type, the market has been divided into plastic (flexible and rigid), metal, paper and paperboards, composite materials, and others.
- Based on the product, the market has been classified into pouches and bags, drums, bottles and cans, and others.
- On the basis of the barrier strength, the market has been categorized into low, medium and high.
- Based on the application, the market has been segmented into food products, fertilizers, pesticides and biologicals and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include Amcor Group GmbH, Bemis Company, Inc., Sonoco Products Company, Greif, Inc., Mondi plc, LC Packaging International BV, Flex-Pack, NNZ BV, Silgan Holdings Inc., ProAmpac Intermediate, Inc., Purity Flexpack Limited, and ePac Holdings, LLC.
|Base Year of the Analysis
||Material Type, Product, Barrier Strength, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Amcor Group GmbH, Bemis Company, Inc., Sonoco Products Company, Greif, Inc., Mondi plc, LC Packaging International BV, Flex-Pack, NNZ BV, Silgan Holdings Inc., ProAmpac Intermediate, Inc., Purity Flexpack Limited, and ePac Holdings, LLC
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