The Agricultural Films Market size to grow at a CAGR of 6.17% from 2022 to 2027

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02 Aug, 2023, 11:45 ET

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NEW YORK, Aug. 2, 2023 /PRNewswire/ -- The agricultural films market is expected to grow by USD 4,252.46 million during the five-year forecast period, according to Technavio. As per the latest report, the market will progress at a CAGR of 6.17% from 2022 to 2027. The increasing adoption of biodegradable mulch films is a major trend in the market. Agricultural films increase crop yields by maintaining soil temperature, reducing moisture, and controlling weed growth. Disposal of polyethylene agricultural films leads to soil and water contamination. The dumped waste can pose a serious threat to microbial, fish, and mammalian life. Furthermore, due to the difficulty of disposing of agricultural films, farmers are turning to eco-friendly alternatives such as biodegradable mulch films. Biodegradable mulch films not only reduce disposal issues but decompose in the field after felling. Hence, the adoption of biodegradable mulch films is expected to drive market growth during the forecast period. View the new Sample Report within minutes!

Agricultural Films Market 2023-2027: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our agricultural films market report covers the following areas:

Agricultural Films Market 2023-2027: SegmentationAgricultural films Market is segmented as below:

The market share growth by the LLDPE segment will be significant during the forecast period. Linear Low-Density Polyethylene (LLDPE) is a soft, flexible material with an opaque appearance that exhibits higher impact strength, tensile strength, puncture resistance, and elongation as compared to LDPE. The packaging industry mostly uses LLDPE packaging films. Due to its strength and durability, it is also commonly used in grocery bags, garbage bags, and shrink wrap. Additionally, LLDPE water tanks are UV stabilized and corrosion resistant, as well as lightweight and easy to carry, making them ideal for outdoor use. Hence, these factors are expected to drive segment growth during the forecast period.

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Agricultural Films Market 2023-2027: Vendor Analysis

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Ab Rani Plast Oy, Achilles Corp., AL PACK Enterprises Ltd., Armando Alvarez Group, Barbier Group, BASF SE, Berry Global Inc., Coveris Management GmbH, Dow Chemical Co., Essen Multipack Ltd., Exxon Mobil Corp., Industrial Development Co. sal, LyondellBasell Industries Holdings B.V., Novamont S.p.A., PLASTIKA KRITIS SA, Polypak Packaging Corp., RKW SE, SHANDONG LONGXING PLASTIC FILM TECHNOLOGY CORP. LTD., KURARAY Co. Ltd., and C.I. TAKIRON Corp. are some of the major market participants.

Vendor Offering

Agricultural Films Market 2023-2027 - Market Dynamics

Key Driver

The need to improve the quality of silage is a key factor driving market growth. Silage is a high-moisture stored fodder used to feed livestock. This is essential during the dry season when nutrient levels and availability of natural pasture are insufficient to feed livestock. Also, if the silage is not stored well, it may become too wet, such as during the rainy season, to cause poor fermentation and leaks. Agricultural films are used to cover silage to prevent poor fermentation and high moisture levels in the feed. Hence, these factors are expected to drive market growth during the forecast period.

Significant Challenges

The decline in the use of silage films is a significant challenge in the agricultural films market. Food consumption habits have changed in many countries as incomes have increased due to urbanization. For example, the Dutch government has developed a plan to reduce dairy farming to combat rising phosphate levels in groundwater. Forage is preserved in silage film, which prevents moisture and UV rays from penetrating the film, preventing the forage from getting wet and dry and extending the life of the forage. Fewer livestock means less need for fodder storage and, consequently less silage use by farmers. Hence, the above-mentioned factors are expected to restrict market growth during the forecast period.

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

Agricultural Films Market 2023-2027: Key Highlights

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Agricultural Films Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.17%

Market growth 2023-2027

USD 4,252.46 million

Market structure

Fragmented

YoY growth 2022- 2023 (%)

5.64

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 79%

Key countries

US, China, India, Germany, and Brazil

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Ab Rani Plast Oy, Achilles Corp., AL PACK Enterprises Ltd., Armando Alvarez Group, Barbier Group, BASF SE, Berry Global Inc., Coveris Management GmbH, Dow Chemical Co., Essen Multipack Ltd., Exxon Mobil Corp., Industrial Development Co. sal, LyondellBasell Industries Holdings B.V., Novamont S.p.A., PLASTIKA KRITIS SA, Polypak Packaging Corp., RKW SE, SHANDONG LONGXING PLASTIC FILM TECHNOLOGY CORP. LTD., KURARAY Co. Ltd., and C.I. TAKIRON Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table Of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Type

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

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Contact

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SOURCE Technavio