Agriculture packaging is anticipated to make inroads at a value CAGR of ~6% over 2019-2028. According to a study published by Insure Insights on the agriculture packaging market, the growing focus to protect and preserve agricultural products and development of sustainable packaging is anticipated to augment the demand in the global agriculture packaging market.
Top Driver: Robust Demand for Organic Food Such as Vegetables and Fruits
Increasing population, increasing urbanization, and changing lifestyles are leading to change in consumer eating and food habits. This is leading to a demand for packaged food such as organic and gluten-free food. In the last few years, it is noted that the demand for organic and natural food is increasing owing to consumer’s preference for healthy diets that are low in carbohydrates, gluten-free, and contain fewer antibiotics and growth hormones. As organic agricultural products need superior packaging to growth its shelf life will subsequently result in the high demand for agricultural packaging during the forecast period.
Increased Use of Plastic Packaging to Make Crucial Contribution to Growth of Global Agriculture Packaging Market
Among material segments of the global agriculture packaging market, plastic is predicted to show significant growth in the future. Plastic is the most commonly used packaging material and occupies almost 30%-40% of the market by material type. Growing demand for light lightweight, corrosion-related material has led to continuous innovation in the market. Factor such as increased acceptance of packaged fruits and vegetables are also increasing the adoption of plastic packaging for agriculture products. Plastic packaging material helps in oxygen and moisture barrier, which in turn helps in extending product shelf life, and the plastic packaging also helps the products to keep safe from the outside atmosphere and bacteria.
Rising demand for pesticides and fertilizers to Benefit Asia Pacific Market
Asian countries such as the Indi and China are predicted to maximize their spending on fertilizers are increasing the demand for packaging products. The growing need to increase agriculture productivity to meet the demand of the expanding population is the major factor boosting demand for pesticides and specialty chemicals in the region. With the increasing ban on pesticides in countries such as India, there is an enormous scope and a rising need for the development of agricultural packaging for fertilizers. The reducing development time and cost-related with packaging solutions for agrochemicals such as fertilizers and pest resistance across the region and the introduction of biodegradable packaging solutions are expected to propel the market growth in the region.
Players to Focus on Expanding Product Portfolio
The global agriculture packaging market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Proampac LLC, Flex-Pack, NNZ Group, Sonoco, Pro-Pac, Mondi Group, Greif Inc., and Parakh Group, Columbia Packaging Group (CPG) among others could be at the forefront of the competition in the global agriculture packaging market.
Columbia Packaging Group (CPG): CPG is custom plastic bag manufacturer for agriculture, bakery and medical industries. In January 2020, the company formed partnership with biodegradable material developer Danimer Scientific to develop home compostable produce bags for the flexible packaging of agriculture market.
Sonoco: Sonoco is a diversified packaging company who offers packaging solution to variety of industries. In May 2018, the company formed partnership with Harvest CROO Robotics to improve harvesting efficiency, decrease food waste, and extend freshness life of agriculture products by offering innovating fresh food packaging solutions. The company is planning to utilize Harvest CROO Robotics’ robotic harvesting technology with the packaging to offers a unique solution. Sonoco is developing the packaging which supports automatic and autonomous harvester that can pick almost eight acres of strawberries in a day.
Pro-Pac Packaging: In September 2017, the company entered into an agreement to merge with Integrated Packaging Group which will benefit both the companies in numerous ways. With the merger Pro-Pac is planning to increase its offerings in areas such as agriculture films.
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