Market Analysis
As per the analysis by Market Research Future Reports, the Agricultural Packaging Market is projected to thrive at a CAGR of 4.7% by the end of 2023. The objective of packaging is the prevention of products from the impact of light, heat, and moisture, which can cause the quality deterioration of the product. In order to protect the products, the demand for agricultural packaging has increased. It is a primary factor leading to the expansion of the global agricultural packaging market 2020. Besides, the demand for agricultural packaging is rising owing to the growing e-commerce sector across the world. The companies are spending enormously in research and development due to the increasing inclination of consumers towards packaging. The companies are integrating advanced methods of packaging because of the rising preference of online shopping, which demands more durable product protection. The new methods adopted by the companies include better sealing capabilities, extended shelf life, leakage proof, and reusability. The demand for agricultural packaging is increasing due to the aforementioned advancements made. Furthermore, the demand for agricultural packaging is rising due to the expanding e-commerce across the world. However, the need for high capital investment, lack of technical expertise are some of the elements hampering the expansion of the market. Moreover, the fluctuating prices of raw materials for plastic packaging are a major factor impeding the expansion of the market.
The outbreak of COVID-19 has affected the market in several ways. We will provide COVID-19 impact analysis with the report.
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Regional Analysis
The geographical analysis of Asia-Pacific, North America, Europe, and the Rest of the World (RoW) has been conducted. As per the analysis, the APAC region is estimated to dominate the market in the global agricultural packaging market. Apart from this, APAC is also likely to grow with the maximum CAGR during the forecast period. Besides being the fastest growing economy of the world, India and China is also the two largest populations of the world. Hence, the packaging market in the region is rising exponentially as the population is expanding at a swift pace.
Furthermore, rapid urbanization has also propelled the market for the agricultural packaging market. The export and import of vegetables, fruits, and other grains are increasing which has a direct impact on the agricultural packaging market. Europe and North America are projected to expand significantly during the forecast period.
Market Segmentation
Global Agricultural packaging market has been segregated on the basis of product, material, barrier strength, application, and region.
On the basis of product, the global agricultural packaging market can be classified into bags, pouches, trays, bottles, and others.
On the basis of material, the global agricultural packaging market can be classified into glass, paper & paperboard, plastic, metal, and others. Among all, plastic dominates the material segment.
On the basis of application, the global agricultural packaging market can be classified into chemical fertilizers, biologicals, and chemical pesticides.
On the basis of barrier strength, the global agricultural packaging market can be classified into high, medium, and low. Among all, the medium-barrier strength material dominates the market.
On the basis of region, the global agricultural packaging market can be classified into Asia-Pacific, North America, Europe, and the Rest of the World (RoW).
Key Players
The most significant players of the global agricultural packaging market consist of H.B. Fuller Company (US), ondi (Austria), Anderson Packaging Inc (US), LC Packaging (The Netherlands), Sonoco Products Company (US), Atlantic Packaging (US), Flex-Pack (US), Packaging Corporation of America (US), RM CONVERTERS (India), ProAmpac (US), NNZ Group (Netherlands), Greif (US), Novolex (The US).
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