Future Market Insights projects that the silo bags market will expand from 2022 to 2032 at a value CAGR of 6.1%. The market is projected to be worth US$ 387 million by 2022’s end and is anticipated to reach US$ 700 million by the end of the forecast period.
Growing Public Awareness of Grains Wasted During Cultivation Driving the Growth of the Silo Bags Market
Due to reduced waste, simple transit and storage, and a consumer trend toward frequent bag usage, packaging is becoming an essential part of modern life. The need for clever packaging options like silo bags is increasing as more people are becoming aware of the grain waste that occurs during agriculture.
Packaging plays an important role in attracting customers towards any product offered by a manufacturers. Apart from that, packaging is also used for protection and bulk material shipping. One such type of packaging is silo bags packaging. Silo bags are 2.4 to 3.6 meter elongated and flexible plastic bags.
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The length of these bags depends on the quantity of material to be stored and the machine used for packing purposes. As the cultivable land is decreasing, the demand for silo bags is gradually increasing. Silo bags are also being used to protect grains from any kinds of external damage.
Silo bags: Market Dynamics
The silo bags market is being driven by the increase in awareness about wastage of grains during cultivation. Grain wastage hampers the overall production of crops. Moreover, the rising population of the world is expected to create huge pressure on the overall production of agricultural crops. Silo bags are useful as they can be used to protect grains and thus, help in meeting increased demand for crops.
The primary function of silo bags is to provide increased protection to the crops as well as to increase their shelf life. Silo bags have monitoring equipment which can be used to trail the quality of any product as well as adjust the temperature. These features are likely to increase the demand for silo bags in the near future.
Silo bags Regional Outlook
In terms of geography, the global Silo bags market has been divided into five key regions — North America, Latin America, Europe, Asia-Pacific and the Middle East. The Asia Pacific region is expected to dominate the silo bags market during the forecast period. The presence of developing economies like China and India will bolster this market.
Also, Australia is expected to have massive impact on the Global Silo bags market as agriculture is one of the most important means of sustenance in the country. It is expected that the Latin America region will witness a decent CAGR by the end of the forecast period.
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Silo bags packaging Market: Key players
Some of the key players in the global Silo bags market are
- Silo Bag India Pvt. Ltd.,
- Silo Bags International Limited,
- The Context Network, LLC,
- HYPLAST N.V,
- Grain Bags Canada,
- The Panama Group,
- Richiger, and
- Silo bag grain, etc.
The companies are focusing on launching products in emerging economies where the agriculture sector is very strong.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
Silo bags: Market Segmentation
The global Silo bags market is segmented on the basis of storage and the capacity of the bags.
Based on the storage, the global silo bags market is segmented into:
- Dry grains
- Wet grains
- Rolled/crushed grains
- Forages
- Fertilizer
- Dried fruits
- Wood chips
- Others
Based on the capacity of bags, the global silo bags market is segmented into:
- Upto 200 mt
- Above 200 mt
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