Increasing Demand For Extended Shelf Life Of Agricultural Products Driving The Agricultural Packagin

By Author: Sonal
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The agricultural packaging market is projected to reach USD 5.02 Billion by 2023, at a CAGR of 5.00% from 2018 to 2023. The market has been growing at a steady rate due to the increasing need for optimum packaging solutions due to increasing need for higher shelf life products in agricultural operations in developed countries. Strong research funding by key manufacturers for product development such as compatible packaging solutions for pesticides and fertilizers is expected to drive the growth of the market in the next five years.

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Asia Pacific is estimated to account for the largest market share in 2018, followed by North America in the agricultural packaging market over the next five years. The growing trade opportunities of agrochemicals across the globe, especially in countries such as China, India, the US, Canada are the major factors contributing to the high growth opportunities in these regions. Agricultural packaging for fertilizers is expected to boost the growth rate in Europe as the growth in the region has been ...
... highly hampered by the growing regulations on chemical pesticide usage and maximum residue limit.

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The major factors restraining the growth of the agricultural packaging market are volatility observed in raw material prices and recycling of used and discarded packaging materials. Plastics, for instance, are majorly prepared from petroleum and crude oil. The price fluctuations of oil prices is so high that the industry faces a major challenge in balancing the prices of the packaging products. Recycling of packaging waste has been a challenge across the industrial packaging industry, and more for agrochemical packaging due to the confinement of hazardous chemicals inside them.

The various contributors involved in the value chain of the agricultural packaging market include raw material suppliers, R&D institutes, agricultural packaging manufacturing companies such as Amcor Limited (Australia), Bemis Company, Inc. (US), Greif, Inc. (US), Sonoco Products Company (US), and Mondi Group (South Africa), agrochemical manufacturers, and government bodies & regulatory associations such as the US Department of Agriculture (USDA) and Food and Agricultural Organization (FAO).