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.
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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.
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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
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