Agricultural Packaging Market worth 5.02 Billion USD by 2023

1. MarketsandMarkets™ Presents Agricultural Packaging Market – Global Forecast to 2023 https://www.marketsandmarkets.com/Market-Reports/agricultural-packaging-market-181856573.html

2. The report "Agricultural Packaging Market by Material (Plastic, Metal, Paper & Paperboard, Composites), Product (Pouches & Bags, Drums, Bottles & Cans), Barrier Strength (Low, Medium, High), Application, and Region - Global Forecast to 2023“ • The agricultural packaging market is projected to reach USD 5.02 Billion by 2023, from USD 3.93 Billion in 2018, at a CAGR of 5.00% during the forecast period. The market is driven by factors such as rising consumption of pesticides and fertilizers across the globe, increasing adoption of high barrier packaging materials for agrochemicals, increasing demand for extended shelf life of these products, and rising demand for biologicals across the globe owing to the increasing ban on chemical pesticides. • The agricultural packaging market is a relatively small sector of the industrial packaging market; significant evolution has been observed with regard to the packaging of chemical pesticides and fertilizers. Regulatory guidelines and R&D are the major factors that have been fueling the growth of this market.  • Browse 92 market data Tables and 42 Figures spread through 171 Pages and in-depth TOC on "Agricultural Packaging Market- Global Forecast to 2023" • The years considered for the study are as follows: • Base year – 2017 • Estimated year – 2018 • Projected year – 2023 • Forecast period – 2018 to 2023 • Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=12667441

3. Rigid plastics segment is estimated to be the most widely used material for agricultural packaging • Plastics are the most preferred packaging material used for pesticides and fertilizers, owing to the properties such as medium-barrier strength, cost-effectiveness, flexibility, and inertness. The packaging of chemical pesticides consumes a large amount of packaging material, when compared to fertilizers as fertilizers are usually packaged in larger volumes while pesticides are available across a wide volume range. Pesticides are majorly prepared in liquid formulation, which is most often packed in plastic bottles, cans, or containers. Rigid plastics such as HDPE are used for manufacturing such packaging solutions. Hence, the rigid plastics segment dominated the market share in plastics. • Medium-barrier strength segment is projected to be the fastest-growing during the forecast period • Medium-barrier strength materials such as plastics and some composites are widely used for packaging purposes across various industries, including agriculture. Their molding and low cost properties in comparison to other materials such as metals are the major reasons for the adoption of these materials by both the manufacturers and end use farmers on a wide scale. Composite materials are increasingly gaining interest among agrochemical manufacturers; however, the share of packaging in the agrochemical value chain is at a higher scale, when compared to plastic packaging. The demand for medium-barrier strength materials is expected to continue its dominance in next few years; hence, the segment is projected to grow at the highest rate during the forecast period. • Application of PET and HDPE plastics for the confinement of pesticides revolutionized the agrochemical packaging industry. Increasing need for effective storage and transport of pesticides and fertilizers and rising demand for longer shelf life of these products are the driving factors for the steady growth of this market. • Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=181856573

4. Asia Pacific is projected to dominate the market for agricultural packaging at the highest rate through 2023 Asia Pacific is the largest consumer of agricultural packaging owing to the large production capacities of agrochemicals prevailing in China and India, which makes it easier for most private, local companies to launch their products. The high labor power, fragmented packaging industry, and easy availability of packaging materials in Asia Pacific countries have resulted in significantly lower production costs. Additionally, factors such as growth in demand for biologicals, increase in trade opportunities of agrochemicals, and efficient infrastructure are the key competitive advantages for the Asia Pacific market. The major factors restraining the growth of the agricultural packaging market are volatility observed in raw material prices and recycling of used and discarded packaging materials. Plastics, for instance, are majorly prepared from petroleum and crude oil. The price fluctuations of oil prices is so high that the industry faces a major challenge in balancing the prices of the packaging products. Recycling of packaging waste has been a challenge across the industrial packaging industry, and more for agrochemical packaging due to the confinement of hazardous chemicals inside them. The global market for agricultural packaging is dominated by large players such as Amcor Limited (Australia), Bemis Company, Inc. (US), Sonoco Products Company (US), Greif Inc. (US), and Mondi Group (South Africa). Some emerging players in the agricultural packaging market include Packaging Corporation of America (US), NNZ Group (Netherlands), LC Packaging International BV (Netherlands), Silgan Holdings, Inc. (US), Proampac LLC (US), Flex-Pack (US), Purity Flexpack Limited (India), Epac Holdings LLC (US), Kenvos Biotech Co., Ltd. (China), and Parakh Group (India). Request Sample: https://www.marketsandmarkets.com/requestsampleNew.asp?id=181856573

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