Dublin, March 23, 2021 (GLOBE NEWSWIRE) -- The "Agriculture Chemical Packaging Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
Agricultural Chemical Packaging Market is expected to grow at a CAGR of 4.3% during the forecast period 2021 - 2026. Packaging plays a crucial role in the agriculture industry, as agrochemical products such as fertilizers and pesticides are toxic. Hence they need advanced packaging solutions, which can reduce the risk of handling, storing, and transporting these chemical products. Therefore, the packaging of these products is designed for better sealing to avoid the risk of loss during transportation.
Plastics are the most widely used as packaging material for agricultural chemical products. However, the use of bags, pouches, bottles, and containers is rapidly increasing due to the environmental sustainability of these products. For instance, Scholle IPN offers bag in box and pouch packaging solutions to protect the agrochemical products.
High demand for pest resistance across the globe and the advancement of biodegradable packaging solutions is fuelling the growth of this market. For instance, Mauser packaging solutions recently launched, which is not only suitable to carry agrochemical products but also can reduce the industrial wastes.
Recycling and environmental concerns are vital challenges for this market. However, the significant fluctuations in the price of raw materials can restrain the growth of this market. For instance, petroleum and crude oil are the primary raw material for plastic. Hence, any fluctuation in oil prices can create a significant threat to this industry.
Key Market Trends
Plastic Packaging to Hold Significant Market Share
Plastic bags and pouches are mostly used for packaging different agrochemical products, such as fertilizer and pesticides. Polyethylene terephthalate (PET) and HDPE are the preferred materials for manufacturing plastic bottles and jars. These medium barrier solutions deliver moderate levels of moisture barrier, heat resistance, gas permeability, and oxygen barrier, which is suitable to use agrochemical industries.
According to The Wall Street Journal,500 billion to 1 trillion plastic bags are consumed worldwide. The factors which are influencing the adoption of plastics in this market are its lightweight, reliable, and economic nature. For instance, in 2019, Nexus packaging launched innostacker, which is lightweight and can also have the capacity of recycling.
Flexible plastics are used for flexible packaging solutions, and this can also reduce an organization's carbon footprint. The application of pouches & bags in agrochemical packaging has increased due to its higher safety against transportation losses in a sustainable manner. For instance, Scholle IPN offers pouch packaging fertilizer solutions that provide a better product to package ration than rigid formats like bottles and jars.
Asia-Pacific to Hold the Significant Market Share
Asia Pacific region is expected to retain a significant market share within this forecast period. The growing trade opportunities in these regions, such as China, India is fuelling the growth of this market. However, the Chinese agrochemical market is growing slowly due to the government regulations on zero residue in the food crops. According to the World Economic Forum, the chemical fertilizer use in China is reduced by 15% per crop, which can be one of the major restraints for this region.
Moreover, the demand for agrochemical packaging is increasing in different developing countries such as India, Indonesia, and Thailand. The increasing trend of food production and the consumption of chemical fertilizer are creating substantial market potentials for the key vendors in this market. According to the Department of Agriculture Corporation India, the total food grain production in India is estimated at 291.95 million, which is higher by 6.74 million tonnes from its previous year 2018.
Major key vendors in this market are also offering innovative bags and pouches formats, sizes, and functionality in response to the consumer demand for convenience. For instance, Mauser Packaging Solutions launched IBC Valve Seal with its recyclable and tamper-evident, which makes this product suitable to use in the Agriculture Chemical Packaging market.
The Agriculture Chemical Packaging market is highly competitive due to the presence of many vendors operating their business in national and international boundaries. The market is highly fragmented, and some major key vendors of these markets are United Caps, Mauser Packaging Solutions, Grief, Inc, Nexus Packaging Ltd, EVAL Europe N.V., etc.
Some vendors in this market are expanding their production facility to create a unique advantage from their competitors. For instance, In 2019, United Caps expanded its production facility by introducing a new manufacturing plant in Malaysia to serve the Asian market better.
In 2020, Grief INC launched a real-time tracking for its IBC solutions. Greif's GCUBE Connect solution provides real-time tracking information about a customer's IBC through its IoT based device. This innovative technology not only supports any organization to track its product but also significantly simplifies the supply chain of an organization.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHT
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.2 Market Challenges
5.3 Impact of COVID-19 on the Agri Packaging Industries
6 MARKET SEGMENTATION
6.1 By Material Type
6.1.3 Other Material Types
6.2 By Product Type
6.2.1 Bags & Pouches
6.2.2 Bottles & Containers
6.2.3 Drums & Intermediate Bulk Containers (IBC's)
6.2.4 Other Product Types
6.3 By Chemical
6.3.3 Other Chemicals
6.4 By Geography
6.4.1 North America
6.4.4 Rest of the World
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 United Caps
7.1.2 Mauser Packaging Solutions
7.1.3 Grief, Inc
7.1.4 Ipackchem Group
7.1.5 EVAL Europe N.V.
7.1.6 Nexus Packaging Ltd
7.1.7 ALPLA-Werke Alwin Lehner GmbH & Co KG
7.1.8 P. Wilkinson Containers Ltd
7.1.9 KSP International FZE
7.1.10 BERICAP Holding GmbH
8 INVESTMENT ANALYSIS
9 FUTURE OPPORTUNITIES
For more information about this report visit https://www.researchandmarkets.com/r/l9efg3
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