North America plays a pivotal role in propelling the growth of the agriculture packaging market, boasting a significant market share. In 2022, it accounted for 22.8% of the revenue share, and this figure is anticipated to rise to 24.1% by the end of 2023, with a notable CAGR of 5.2% during the forecast period. This growth is underpinned by the region’s increasing utilization of packaging for various agricultural needs, including solid grains, silage, liquid insecticides, and seed storage.
The United States, in particular, stood out in 2022, commanding a remarkable 20.8% of the global industry share. This dominance is expected to persist, with the region accumulating a 22.5% market share by the close of 2023. This robust performance is driven by the widespread adoption of advanced packaging technologies and the presence of key industry players. Furthermore, the escalating demand for sustainable packaging solutions is poised to open new avenues for industry expansion in the North American region.
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The global agriculture packaging market, valued at US$ 6,478.3 million in 2022, is set to witness steady growth. Predicted to reach US$ 6,831 million by the end of 2023 with a Y-o-Y growth rate of 5.4%, the industry is on a trajectory to expand further, projecting a CAGR of 5.3% from 2023 to 2033, ultimately reaching a valuation of US$ 11,449.1 million by 2033.
This growth is driven by the imperative need for efficient supply chains, which can reduce food waste, particularly during storage and transportation in emerging countries. Agriculture packaging not only safeguards contents but also aligns with the growing demand for food, increased fertilizer and pesticide use, and enhanced shelf life of agrochemicals, contributing to market stability and progress.
Agricultural packaging manufacturers are increasingly focusing on offering sustainable packaging solutions including bags, pouches, and bottles to consolidate their footprint. The industry 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 industry due to easy availability of plastics.
“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:
- 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’s 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 industry.
- Increasing preference for e-commerce retailing is significantly contributing towards agricultural packaging sales.
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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 industry.
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.
Key Players:
- 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
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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.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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