Agricultural Packaging Market to surpass $14.9 billion by 2032, Says Global Market Insights Inc.
Agricultural Packaging Industry size is predicted to register 5.8% CAGR between 2023 and 2032 driven by enhanced farming techniques.
Selbyville, Delaware , Sept. 13, 2023 (GLOBE NEWSWIRE) — Agricultural Packaging market size is predicted to reach around USD 14.9 billion by 2032, cites a recent report by Global Market Insights Inc. The report claims that the increasing focus on sustainability and growing environmental concerns will stimulate market growth over 2023-2032. Sustainability has become a significant driver in the agriculture packaging market. Both consumers and industry stakeholders are increasingly concerned about the environmental impact of packaging materials.
As a result, there is a growing shift towards eco-friendly and recyclable packaging solutions, such as biodegradable films and reusable packaging, to reduce waste and minimize the carbon footprint of the agriculture industry. For instance, in June 2023, Nestle unveiled a strategic collaboration with Yield Lab Latam, a venture capital fund based in Latin America specializing in the agri-food sector. This partnership aims to drive initiatives related to regenerative farming and sustainable packaging. Yield Lab Latam functions as a catalyst for agri-food enterprises throughout Latin America, serving as a bridge between startups, investors, corporations, farmers, research institutions, and government entities.
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The agricultural packaging industry from the paper & paperboard segment could garner appreciable gains throughout 2023-2032, claims the report. Paper and paperboard-based agricultural packaging is gaining significant traction due to its eco-friendly attributes and versatility. As sustainability becomes a top priority, these materials offer biodegradability and recyclability, aligning with global efforts to reduce plastic waste. For instance, in 2022, PepsiCo introduced paper-based bags for its snack brands, reducing plastic use. Additionally, paper packaging provides excellent protection against moisture and external factors, preserving the freshness of agricultural products. The shift towards more sustainable practices in agriculture and food industries is driving the increasing adoption of paper and paperboard packaging solutions.
The study cites that the agriculture packaging bags market will register noteworthy expansion between 2023 and 2032. Agricultural packaging bags are experiencing surging popularity due to their versatility and role in optimizing supply chain efficiency. These bags offer protection from pests, moisture, and physical damage, ensuring the quality and freshness of agricultural products. For instance, the adoption of hermetic storage bags in regions like Africa has helped reduce post-harvest losses. Additionally, the convenience and cost-effectiveness of these bags in packaging various crops, such as grains, seeds, and produce, have contributed to their widespread use, meeting the demands of both farmers and consumers in an increasingly competitive market.
The dairy products segment could dominate the agricultural packaging market share by 2032, as per the report. Consumers are increasingly seeking convenience, and dairy packaging, such as milk cartons and yogurt cups, offers easy portion control and extended shelf life. The growing popularity of dairy alternatives like almond and soy milk has propelled the demand for a variety of packaging formats. Besides, sustainability concerns have driven innovation in eco-friendly dairy packaging, like plant-based materials or recyclable options. For instance, in 2021, Danone introduced plant-based yogurt cups, reflecting the industry’s shift towards sustainable dairy packaging solutions.
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The Asia Pacific agricultural packaging industry is experiencing a surge in demand. The region’s population growth and rising middle class have led to increased consumption of agricultural products, necessitating efficient packaging solutions for transportation and storage. There is a growing awareness of food safety and quality, driving the need for secure and hygienic packaging. Additionally, as sustainability gains importance, eco-friendly packaging materials like biodegradable plastics are in demand. For example, in India, the adoption of biodegradable bags for packaging fresh produce has gained momentum, showcasing the trend towards sustainable agricultural packaging in the Asia Pacific.
Major companies in the agricultural packaging market are Greif, Inc., Coveris Holdings S.A., Amcor plc, DS Smith plc, Sonoco Products Company, Sealed Air Corporation, Mondi Group, Smurfit Kappa Group, Bemis Company Inc., and Berry Global Inc. These companies are focusing on strategic collaborations, introducing innovative products, and actively working to expand their market presence. They are dedicating substantial resources to research and development to unveil cutting-edge offerings, ultimately aiming to capture a significant share of the market revenue.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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