Agricultural Packaging Market worth 5.02 Billion USD by 2023

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MarketsandMarkets Presents
Agricultural Packaging Market Global Forecast
to 2023
https//www.marketsandmarkets.com/Market-Reports/a
gricultural-packaging-market-181856573.html
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• The report "Agricultural Packaging Market by
  Material (Plastic, Metal, Paper Paperboard,
  Composites), Product (Pouches Bags, Drums,
  Bottles Cans), Barrier Strength (Low, Medium,
  High), Application, and Region - Global Forecast
  to 2023
• The agricultural packaging market is projected to
  reach USD 5.02 Billion by 2023, from USD 3.93
  Billion in 2018, at a CAGR of 5.00 during the
  forecast period. The market is driven by factors
  such as rising consumption of pesticides and
  fertilizers across the globe, increasing adoption
  of high barrier packaging materials for
  agrochemicals, increasing demand for extended
  shelf life of these products, and rising demand
  for biologicals across the globe owing to the
  increasing ban on chemical pesticides.
• The agricultural packaging market is a relatively
  small sector of the industrial packaging market
  significant evolution has been observed with
  regard to the packaging of chemical pesticides
  and fertilizers. Regulatory guidelines and RD
  are the major factors that have been fueling the
  growth of this market. 
• Browse 92 market data Tables and 42 Figures
  spread through 171 Pages and in-depth TOC
  on "Agricultural Packaging Market- Global
  Forecast to 2023"
• The years considered for the study are as
  follows
• Base year 2017
• Estimated year 2018
• Projected year 2023
• Forecast period 2018 to 2023
• Download PDF Brochure https//www.marketsandmarke
  ts.com/pdfdownloadNew.asp?id12667441

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Rigid plastics segment is estimated to be the
most widely used material for agricultural
packaging Plastics are the most preferred
packaging material used for pesticides and
fertilizers, owing to the properties such as
medium-barrier strength, cost-effectiveness,
flexibility, and inertness. The packaging of
chemical pesticides consumes a large amount of
packaging material, when compared to fertilizers
as fertilizers are usually packaged in larger
volumes while pesticides are available across a
wide volume range. Pesticides are majorly
prepared in liquid formulation, which is most
often packed in plastic bottles, cans, or
containers. Rigid plastics such as HDPE are used
for manufacturing such packaging solutions.
Hence, the rigid plastics segment dominated the
market share in plastics. Medium-barrier
strength segment is projected to be the
fastest-growing during the forecast
period Medium-barrier strength materials such as
plastics and some composites are widely used for
packaging purposes across various industries,
including agriculture. Their molding and low cost
properties in comparison to other materials such
as metals are the major reasons for the adoption
of these materials by both the manufacturers and
end use farmers on a wide scale. Composite
materials are increasingly gaining interest among
agrochemical manufacturers however, the share of
packaging in the agrochemical value chain is at a
higher scale, when compared to plastic packaging.
The demand for medium-barrier strength materials
is expected to continue its dominance in next few
years hence, the segment is projected to grow at
the highest rate during the forecast
period. Application of PET and HDPE plastics for
the confinement of pesticides revolutionized the
agrochemical packaging industry. Increasing need
for effective storage and transport of pesticides
and fertilizers and rising demand for longer
shelf life of these products are the driving
factors for the steady growth of this
market. Make an Inquiry https//www.marketsandmar
kets.com/Enquiry_Before_BuyingNew.asp?id181856573
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Asia Pacific is projected to dominate the market
for agricultural packaging at the highest rate
through 2023 Asia Pacific is the largest consumer
of agricultural packaging owing to the large
production capacities of agrochemicals prevailing
in China and India, which makes it easier for
most private, local companies to launch their
products. The high labor power, fragmented
packaging industry, and easy availability of
packaging materials in Asia Pacific countries
have resulted in significantly lower production
costs. Additionally, factors such as growth in
demand for biologicals, increase in trade
opportunities of agrochemicals, and efficient
infrastructure are the key competitive advantages
for the Asia Pacific market. 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 global market for
agricultural packaging is dominated by large
players such as Amcor Limited (Australia), Bemis
Company, Inc. (US), Sonoco Products Company (US),
Greif Inc. (US), and Mondi Group (South Africa).
Some emerging players in the agricultural
packaging market include Packaging Corporation of
America (US), NNZ Group (Netherlands), LC
Packaging International BV (Netherlands), Silgan
Holdings, Inc. (US), Proampac LLC (US), Flex-Pack
(US), Purity Flexpack Limited (India), Epac
Holdings LLC (US), Kenvos Biotech Co., Ltd.
(China), and Parakh Group (India). Request
Sample https//www.marketsandmarkets.com/requests
ampleNew.asp?id181856573
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