Agriculture Packaging Market Growth, Trends Analysis Report 2033

The global agriculture packaging market continues to witness steady growth, with a valuation of USD 6,478.3 million in 2022. According to Future Market Insights, this is projected to rise at a year-on-year (Y-o-Y) growth rate of 5.4%, reaching USD 6,831 million by the end of 2023. The market is poised for further expansion, with an expected compound annual growth rate (CAGR) of 5.3% from 2023 to 2033, culminating in a projected valuation of USD 11,449.1 million by 2033.

Efficiency in Supply Chains:

The increasing demand for efficiency in supply chains, particularly to reduce food waste, is driving the demand for agricultural packaging. According to the Birmingham Energy Institute, over 90% of food waste in emerging countries occurs during storage and transportation. Hence, there is a growing awareness of the importance of minimizing food product loss during harvesting and shipping, which is expected to boost the demand for cost-effective and sustainable agricultural packaging solutions.

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Superior Protection:

Agricultural packaging provides superior protection, keeping the contents free from contaminants, microorganisms, wetness, and toxins. This aspect is expected to further fuel the demand for agricultural packaging solutions in the coming years, as consumers and producers prioritize product safety and quality.

Agricultural packaging manufacturers are increasingly focusing on offering sustainable packaging solutions including bags, pouches, and bottles to consolidate their footprint. The market will continue showcasing a steady rate of growth, especially on account of expansion of the e-commerce sector globally.

Apart from this, the surging adoption of agrochemicals will give tailwinds to the sales of agricultural packaging.

Among various products, the bags/bins and pouches segment is forecast to grow at over 5.8% cumulatively over the forecast period, accounting for over 70% of market share in 2021. Meanwhile, in terms of materials, the plastic agriculture packaging segment will gain traction in the market due to easy availability of plastics.

Growth prospects for the North America market are likely to remain positive driven by increasing export and production of agriculture packaging products in the U.S. As per FMI, the North America market for agricultural products will expand at 4.4% in 2021.

Key Takeaways from the Agriculture Packaging Market Survey

North America will remain a dominant market, expanding at a CAGR of 4.4% in 2021.
Asia Pacific excluding Japan (APEJ) is anticipated to register a highest CAGR of 6.9% over the forecast period 2021-2031.
Based on product, the demand for the bags/bins and pouches segment is estimated to grow at a CAGR of 5.8% over the forecast period, accounting for over 70% of market share in 2021.
Europe market for agricultural packaging is estimated to rise at 3.7% CAGR driven by increasing export and production in Germany, France and other countries.
Japan and South Korea are projected to exhibit growth at a CAGRs of 13% and 8% respectively of East Asia in 2021.

Competitive Landscape

Agricultural packaging market manufacturers are focusing on acquisitions, partnerships and new product offerings to expand their market footprint and gain a competitive edge in the market.

For instance,

In 2021, Mondi announced the acquisition of Olmuksan, a leading Turkish corrugated packaging producer. With this acquisition, Mondi expands its presence in the region, fostering operational improvements and paper integration upside.
In 2021, Polysack, a global leader for manufacturing flexible packaging film products, collaborated with an Italian packaging manufacturer Flessofab and introduced a series of recyclable, eco-friendly, and stand up pouch packaging for large variety of applications.

Some of the leading players operating in the agriculture packaging market profiled by FMI are: