Vantage Market Research published a new research report titled “Agricultural Packaging Market by Material (Plastic, Metal, Paper & Paperboard, Composites, and others), by Product (Pouches & Bags, Drums, Bottles & Cans, and others), by Barrier Strength (Low, Medium, High), by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
According to study, the demand of global Agricultural Packaging Market size & share expected to reach to $7.12 billion by 2028 from USD 4.53 Billion in 2020, at a compound annual growth rate (CAGR) of 5.81% during the forecast period 2021 to 2028.
Agricultural Packaging in recent years has taken new level of importance considering that 58% of waste food is lost during production process, after harvest and storage transportation. Major companies all over the globe have taken initiatives towards low-waste or waste-free packaging. For instance, cucumber sealed in cling wrap lasts over four times as long as an unwrapped cucumber in a retail setting.
Rising Demand in Agricultural Product Packaging to Increase the Shelf Life is Expected to Drive the Agricultural Packaging Market
The importance in Agricultural Packaging is that, it protects the agro products and also increases the shelf life. For instance, due to poor supply chain management hundreds of pounds of edible food is wasted every day. It is estimated that around one third of food produced worldwide is wasted every year; that’s approximately 1.33 billion tons of food. If proper packaging can help reduce this massive food waste, it is important to balance the packaging waste that concerns with food waste. Consumers are attracted to good-quality packaging methods. The relation between a polished outer appearance and the assumed excellence of its contents is strong, and an important part of marketing. Due to such factors, there is high demand for Agricultural Packaging Market globally.
Increase in Packaging Sustainability and Adoption of Eco Packaging Methods is Expected to Drive the Agricultural Packaging Market
Factories and companies often use a huge amount of energy and fossil fuels to create packaging products. Finding a balance with the push-and-pull of sustainable, effective packaging products presents a challenge to many companies. Composting packages may break down within a few years, rather than hundreds, but often don’t keep produce as fresh as plastic. Sustainability does not refer solely to the use of the packaging, but its entire cycle, from its origins to its eventual breakdown. Additionally, this system of packaging promises efficient and dynamic packaging solutions, reducing overall costs of packaging and transportation.
The COVID-19 outbreak has affected various industries worldwide. The pandemic has affected most countries in the world, with severe impacts on the global economy and the food production, and distribution sector. The agriculture packaging manufacturing industry also had a huge impact due to shutdown of food processing industries. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries.
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