North America is poised for robust growth in the agriculture packaging market, with its revenue share expected to increase from 22.8% in 2022 to 24.1% by the end of 2023, driven by a projected CAGR of 5.2%. The region, led by the United States capturing 20.8% of the global market share in 2022, benefits from advanced packaging technologies and a strong presence of industry leaders. Increasing demand for sustainable packaging solutions adds to the growth trajectory, promising new avenues for expansion.
Key Insights on the Agricultural Packaging Market
- Market Size in 2023: The agricultural packaging market is valued at US$ 6,831 million in 2023.
- Growth Forecast: The market is forecast to register a compound annual growth rate (CAGR) of 5.3% through 2033.
- Projected Market Size in 2033: By 2033, the global market size is projected to reach US$ 11,449.1 million.
- Historical Performance: From 2018 to 2022, the market grew at a CAGR of 4.8%.
- Prominent Market Drivers: The growing demand for agrochemicals is a significant driver fueling market expansion. This demand is primarily driven by the need for crop protection chemicals due to increasing pest attacks.
- Growth Prospects in North America:
- North America accounted for 22.8% of the revenue share in 2022 and is expected to accumulate a 24.1% market share by the end of 2023.
- The market in this region is projected to grow at a CAGR of 5.2% during the forecast period.
- Impact of Agrochemical Demand: The rise in pest attacks is increasing the demand for fertilizers and pesticides, which are toxic and require advanced packaging materials for safe storage, handling, and transportation. This trend is driving the demand for agricultural packaging solutions tailored to agrochemicals.
These insights provide a comprehensive overview of the agricultural packaging market’s current state, growth trajectory, and key drivers, particularly focusing on the influence of agrochemical demand and regional growth dynamics.
Key Market Drivers:
- Supply Chain Efficiency: With over 90% of food waste in emerging countries occurring during storage and transportation, as highlighted by the Birmingham Energy Institute, there is a growing awareness of the need for efficient and sustainable agricultural packaging solutions to minimize food product loss.
- Innovations and Population Growth: Innovations in farming processes and the growing global population are fostering demand for food and, consequently, for agricultural packaging. The improved shelf life of biologicals and agrochemicals also contributes to market expansion.
- Eco-Friendly Packaging: Increased awareness and adoption of eco-friendly packaging materials, such as paper and jute-based bags and pouches, are helping companies retain their customer base and sustain market growth.
- Use of Bulk Bags: The adoption of bulk bags for local and international transportation is becoming an industry standard due to their reliability, affordability, and durability, ensuring agricultural products arrive in optimal condition with minimal damage.
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.
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 market.
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 Companies Profiled
- Bemis Company, Inc.
- Sonoco Products Company
- Mondi Group
- LC Packaging International BV
- Packaging Corporation of America
- 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.
Access Full Report: https://www.futuremarketinsights.com/reports/agriculture-packaging-market
Key Segments Profiled in the Agriculture Packaging Devices Market Industry Survey
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
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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