Competition in Agricultural Packaging Market will soar as Players Eye on Strategic Collaborations for Edge: Future Market Insights
The demand for sustainable agricultural products is on the rise due to the increasing oceanic pollution coupled with high usage of plastic packaging. As a result, the requirement for convenience packaging of agricultural products will soar, largely contributing to the market growth.
Also, with rise in disposable income across developing countries, consumers have increased the consumption of packaged foods, which in turn supporting the market growth.
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 steady rate of growth especially on account of expansion of e-commerce sector globally.
Apart from this, 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.
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Key Takeaways from Agriculture Packaging Market Survey
Key Drivers
Key Restraints
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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:
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:
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By Region:
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Key Questions Covered in the Agriculture Packaging Market Report
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