Future Market Insights (FMI) unveils optimistic projections for the global agriculture packaging market, signaling a substantial rise from US$ 6,478.3 million in 2022 to US$ 6,831 million by the end of 2023, representing a Year-on-Year (Y-o-Y) growth rate of 5.4%. The market’s trajectory is set to expand further, with an anticipated Compound Annual Growth Rate (CAGR) of 5.3% from 2023 to 2033, culminating in a valuation of US$ 11,449.1 million.
Driving Forces Behind Market Expansion:
The escalating demand for efficiency in supply chains, coupled with the imperative to reduce food waste, propels the increasing adoption of agricultural packaging solutions worldwide. With over 90% of food waste in emerging countries occurring during storage and transportation, the urgency to address this challenge drives the demand for cost-effective and sustainable packaging solutions across agricultural sectors.
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Meeting the Demand for Crop Protection Chemicals:
The rise in pest attacks necessitates robust packaging solutions for crop protection chemicals such as fertilizers and pesticides. Advanced packaging materials minimize risks during storage, handling, and transportation of agrochemicals, driving the demand for innovative agricultural packaging solutions.
Eco-Friendly Packaging Solutions:
Increasing awareness regarding eco-friendly packaging in developed countries fuels the adoption of paper and jute-based agriculture packaging bags and pouches, enabling companies to retain their customer base while embracing sustainable practices.
Growth Prospects in North America:
North America emerges as a key driver of market growth, accounting for 22.8% of the revenue share in 2022. The region is expected to expand its market share to 24.1% by the end of 2023, propelled by the growing utilization of packaging for solid grains, silage, liquid insecticides, and seed storage.
The rising trend of automation in the agricultural industry further drives the demand for innovative packaging solutions compatible with automated systems. As food travels an average of 4,100 miles before reaching end-users, the need for advanced packaging solutions intensifies to meet the requirements of farmers, processors, and distributors in international and national markets.
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Trends in the Agriculture Packaging Industry:
- Biodegradable and Compostable Materials: There is a noticeable shift towards the use of biodegradable and compostable packaging materials in the agriculture sector, driven by increasing environmental awareness and regulations promoting sustainable practices.
- Smart Packaging and IoT Integration: The adoption of smart packaging solutions, including RFID tags and sensors, is on the rise to enable real-time monitoring of product conditions such as temperature, humidity, and freshness throughout the supply chain.
- Reduced Plastic Usage: In response to environmental concerns, there is a growing trend towards reducing the reliance on traditional plastic packaging. Alternatives such as bio-based plastics and other sustainable materials are gaining traction.
- E-commerce Packaging Solutions: With the increasing trend of online grocery shopping, there is a demand for packaging solutions that cater to the specific requirements of e-commerce, such as compact packaging, easy handling, and product protection during transportation.
- Focus on Food Safety and Quality: Stringent regulations and consumer demand for safe and high-quality food products are driving the adoption of packaging solutions that maintain the integrity of agricultural products, preventing contamination and ensuring freshness from farm to table.
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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.
Key Companies Profiled
- 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.
Key Segments:
Product Type:
- Pouches
- Bags/Bins
- Silo Bags
- Clamshells
- Bottle
- Trays
- Bulk Containers
- Others
Material Type:
- Plastic
- Rigid
- Flexible
- Paperboard
- Corrugated Board
- Glass
- Jute
- Others
Barrier Type:
- Low-barrier
- Medium-barrier
- High-barrier
Application:
- Seeds & Pesticides
- Silage
- Food Grains
- Vegetables & Fruits
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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