Global Agriculture Packaging Market Set to Surge to US$ 11,449.1 Million by 2033, Fueled by Demand for Efficiency and Sustainability

Posted on 2024-04-30 by Future Market Insights in Advertising, Retail // 0 Comments

In 2022, the market for packaging used in agriculture was estimated to be worth $6,478.3 million. This is anticipated to increase at a Y-o-Y growth rate of 5.4% to reach US$ 6,831 million by the end of 2023, according to Future Market Insights. With an anticipated CAGR of 5.3% from 2023 to 2033, the market for farm packaging is further positioned to grow. A valuation of US$ 11,449.1 million is anticipated by 2033.

The demand for sustainable agricultural products is on the rise due to the increasing oceanic pollution coupled with the high usage of plastic packaging. As a result, the requirement for convenience packaging of agricultural products will soar, largely contributing to market growth.

Also, with rise in disposable income across developing countries, consumers have increased the consumption of packaged foods, which in turn supports the market growth.

Request Sample Report to learn about recent in the Agriculture Packaging industry observed by FMI! https://www.futuremarketinsights.com/reports/sample/rep-gb-7076

Agricultural packaging manufacturers are increasingly focusing on offering sustainable packaging solutions including bags, pouches, and bottles to consolidate their footprint. The market will continue showcasing a steady rate of growth, especially on account of expansion of the e-commerce sector globally.

Apart from this, the surging adoption of agrochemicals will give tailwinds to the sales of agricultural packaging.

Among various products, the bags/bins and pouches segment is forecast to grow at over 5.8% cumulatively over the forecast period, accounting for over 70% of market share in 2021. Meanwhile, in terms of materials, the plastic agriculture packaging segment will gain traction in the market due to easy availability of plastics.

Growth prospects for the North America market are likely to remain positive driven by increasing export and production of agriculture packaging products in the U.S. As per FMI, the North America market for agricultural products will expand at 4.4% in 2021.

“Increasing investment in research and development activities in the packaging industry will boost the market. Besides this, the implementation of strict laws regarding usage of non-biodegradable packaging for insecticides and pesticides will create a conducive environment for growth,” said a FMI analyst.

Key Takeaways from the Agriculture Packaging Market Survey

North America will remain a dominant market, expanding at a CAGR of 4.4% in 2021.
Asia Pacific excluding Japan (APEJ) is anticipated to register a highest CAGR of 6.9% over the forecast period 2021-2031.
Based on product, the demand for the bags/bins and pouches segment is estimated to grow at a CAGR of 5.8% over the forecast period, accounting for over 70% of market share in 2021.
Europe market for agricultural packaging is estimated to rise at 3.7% CAGR driven by increasing export and production in Germany, France and other countries.
Japan and South Korea are projected to exhibit growth at a CAGRs of 13% and 8% respectively of East Asia in 2021.

Key Drivers

Increasing demand for effective storage and transport of pesticides and fertilizers is supporting the market growth.
Adoption of agrochemicals and biologicals is driving the growth of the agricultural packaging market.
Increasing preference for e-commerce retailing is significantly contributing towards agricultural packaging sales.

Key Restraints

Volatility in the cost of raw material is a key factor impeding growth of agricultural packaging market.

Competitive Landscape

Agricultural packaging market manufacturers are focusing on acquisitions, partnerships and new product offerings to expand their market footprint and gain a competitive edge in the market.

For instance, in 2021, Mondi announced the acquisition of Olmuksan, a leading Turkish corrugated packaging producer. With this acquisition, Mondi expands its presence in the region, fostering operational improvements and paper integration upside.

In 2021, Polysack, a global leader for manufacturing flexible packaging film products, collaborated with an Italian packaging manufacturer Flessofab and introduced a series of recyclable, eco-friendly, and stand up pouch packaging for large variety of applications.

Some of the leading players operating in the agriculture packaging market profiled by FMI are:

Bemis Company, Inc.
Sonoco Products Company
Mondi Group
LC Packaging International BV
Packaging Corporation of America
H.B. Fuller Company
Atlantic Packaging
NNZ Group
Parakh Agro Industries Ltd.
International Paper Company
DS Smith Plc
Smurfit Kappa Group Plc
KapStone Paper and Packaging Corp
Silgan Holdings, Inc.
Tetra Pak International S.A.
Greif, Inc.
Time Technoplast Ltd.
Berry Global, Inc.
Proampac LLC
Klöckner Pentaplast Group

Purchase Now to Access Segment-specific Information and uncover Key Trends, Drivers, and Challenges: https://www.futuremarketinsights.com/checkout/7076

More Valuable Insights on Agriculture Packaging Market

FMI, in its new report, offers an unbiased analysis of the global agriculture packaging market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in agriculture packaging market with detailed segmentation:

By Product Type:

Pouches
Bags / Bins
Silo bags
Clamshells
Bottle
Trays
Bulk Containers
Others

By Material Type:

Plastic
Rigid
Flexible
Paper Board
Corrugated Board
Carton board
Glass
Jute
Others

By Barrier Type:

Low-barrier
Medium-barrier
High-barrier

By Application:

Seeds & Pesticides
Silage
Food grains
Vegetable & Fruits

By Region:

North America
U.S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Western Europe
Germany
France
U.K.
Spain
Italy
Benelux
Nordic
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific Excluding Japan
China
India
Australia & New Zealand
ASEAN
Rest of APEJ
Japan
Middle East and Africa
GCC Countries
South Africa
Rest of MEA

Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Matched content

Editor’s pick