According to Future Market Insights, the silo bags market Size is anticipated to flourish at a value CAGR of 6.1% from 2022 to 2032. By 2022-end, the market is expected to be worth US$ 387 Million, and is likely to touch a valuation worth US$ 700 Million by the end of the said forecast period.
Increasing Awareness about Wastage of Grains during Cultivation Propelling the Growth of Silo Bags Market
Packaging is becoming a vital constituent of modern life due to the avoidance of wastage, ease of transportation, storage and inclination of the consumer towards an extensive usage of bags. The recent awareness about the wastage of grains during cultivation is accelerating the demand for intelligent packaging solutions like silo bags.
The length of these bags depends on the quantity of material to be stored and the machine used for packing purposes. As the cultivable land is decreasing, the demand for silo bags is gradually increasing as they are being used to protect grains from any kinds of external damage.
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Future Market Insights recent study suggests that the growth of the global silo bags market is being driven by the increase in awareness about wastage of grains during cultivation. Grain wastage hampers the overall production of crops.
The FMI report further indicated that the rising population of the world is expected to create huge pressure on the overall production of agricultural crops. Silo bags are useful as they can be used to protect grains and thus, help in meeting increased demand for crops.
Research shows great potential of blockchain technology bringing a huge change in the silo bags. The technology is helpful in efficiently transporting the food worldwide and reducing the food wastage. Furthermore, it helps the producers of the food in accessing information regarding food grains from remote locations along with storing information pertaining to post-harvest storage processes.
To reach potential outcomes, organizations are investing in intelligent and innovative packaging solutions. Moreover, companies in the silo bags market are adopting major sanitization measures to keep packaging units away from the harmful viruses. For instance, Symaga— a manufacturer of industrial silos, is complying with government instructions to conduct factory operations and business activities in offices.
Not just organizations, but various regions of the world are pushing their limits to attain maximum growth in the industry. For instance, Australia is expected to have a massive impact on the global silo bags market as agriculture is one of the most important means of sustenance in the country.
Therefore, in order to achieve maximum food security, Australia is using silo bags that help to maintain the quality of grains. Successful organizations are partnering with providers that understand their maturity, offer appropriate solutions, and provide insight to improve packaging solutions and deliver better business outcomes.
Silo bags Market Overview
Packaging plays an important role in attracting customers towards any product offered by a manufacturers. Apart from that, packaging is also used for protection and bulk material shipping. One such type of packaging is silo bags packaging. Silo bags are 2.4 to 3.6 meter elongated and flexible plastic bags.
The length of these bags depends on the quantity of material to be stored and the machine used for packing purposes. As the cultivable land is decreasing, the demand for silo bags is gradually increasing. Silo bags are also being used to protect grains from any kinds of external damage.
Silo bags: Market Dynamics
The silo bags market is being driven by the increase in awareness about wastage of grains during cultivation. Grain wastage hampers the overall production of crops. Moreover, the rising population of the world is expected to create huge pressure on the overall production of agricultural crops. Silo bags are useful as they can be used to protect grains and thus, help in meeting increased demand for crops.
The primary function of silo bags is to provide increased protection to the crops as well as to increase their shelf life. Silo bags have monitoring equipment which can be used to trail the quality of any product as well as adjust the temperature. These features are likely to increase the demand for silo bags in the near future.
Silo bags also provides UV protection, yet another feature that is expected to fuel the demand for silo bags during the forecast period. In addition, they are economical in comparison to permanent steel bins and this is positive affecting the demand for silo bags market. Also, silo bags offer the comfort of supple storage at an appropriate location when permanent storage is a restrictions.
Steel silos are expected to hinder the growth of silo bags because steel silos keep grains more safe than normal silo bags. Also, silo bags offer limited unitary capacity and this can adversely affect the demand for them.
Silo bags Regional Outlook
In terms of geography, the global Silo bags market has been divided into five key regions — North America, Latin America, Europe, Asia-Pacific and the Middle East. The Asia Pacific region is expected to dominate the silo bags market during the forecast period. The presence of developing economies like China and India will bolster this market.
Also, Australia is expected to have massive impact on the Global Silo bags market as agriculture is one of the most important means of sustenance in the country. It is expected that the Latin America region will witness a decent CAGR by the end of the forecast period.
On the other hand, Europe and North America are expected to witness slower growth as compared to the Latin America. Similarly, the Middle East and Africa region is also expected to register sluggish growth throughout the forecast period.
Silo bags packaging Market: Key players
Some of the key players in the global Silo bags market are Silo Bag India Pvt. Ltd., Silo Bags International Limited, The Context Network, LLC, HYPLAST N.V, Grain Bags Canada, The Panama Group, Richiger, and Silo bag grain, etc. The companies are focusing on launching products in emerging economies where the agriculture sector is very strong.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.
The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Rest of Latin America)
- Europe (EU5 Countries, Nordic countries, BENELUX, Poland, Russia, Rest of Europe)
- APAC (China, India, ASEAN, Australia & New Zealand, Japan)
- MEA (GCC Countries, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Silo bags: Market Segmentation
The global Silo bags market is segmented on the basis of storage and the capacity of the bags.
Based on the storage, the global silo bags market is segmented into:
- Dry grains
- Wet grains
- Rolled/crushed grains
- Dried fruits
- Wood chips
Based on the capacity of bags, the global silo bags market is segmented into:
- Upto 200 mt
- Above 200 mt
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