CHICAGO, June 21, 2024 /PRNewswire/ -- The report "Agricultural Films Market by Type (LDPE, LLDPE, EVA, Reclaim, HDPE), Application (Greenhouse Film (Classic Greenhouse, Low Tunnel), Mulch Film (Black Mulches, Transparent Mulches), Silage Film (Silage Stretch Wrap, Silage Bag) - Global Forecast to 2029", Agricultural Films Market size was USD 13.8 billion in 2024 and is projected to reach USD 19.5 billion by 2029, at a CAGR of 7.1%, between 2024 and 2029.
The market is projected to grow because of growing demand for dairy products and vegetables, growing agricultural output, and inventions regarding agricultural films. The agricultural films contribute to increased food production, improved resource management, and enhanced crop quality, making them a crucial tool for farmers in today's world. In addition, due to the increasing population, increasing demand for food, technological advancements and changing consumer preferences the demand for agricultural films can increase due to various applications.
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"LLDPE segment type are projected to register the third-highest CAGR, in terms of value, of the global agricultural films market during the forecast period."
The LLDPE market is set to grow notably during the forecast period. This impressive growth is attributed to a winning combination of properties. LLDPE boasts superior strength and durability, making it ideal for harsh agricultural environments. Furthermore, its flexibility allows for a close fit around crops and uneven terrain, maximizing the effectiveness of applications like mulch films. Moreover, LLDPE offers a cost-effective solution for farmers, particularly in regions where affordability is a key concern. With these advantages, LLDPE is positioned to be third largest type in the agricultural films market, driving growth and improvements in agricultural efficiency.
"Greenhouse film is estimated to be the second-largest application of agricultural films market, in terms of value, during the forecast period."
Greenhouse films are the second-largest application in the agricultural films market because of their ability to create controlled environments for crops, enabling year-round production, higher yields, and efficient resource use. This is particularly valuable for specialty crops and in regions with harsh climates. Greenhouse films allow farmers to create customized environments for their crops, regardless of external weather conditions. This enables them to extend growing seasons, cultivate fruits and vegetables out of season, and achieve optimal growing conditions for higher yields and quality produce. Also, their price is lower than the mulch and silage films which makes them a cost-effective choice for agriculture.
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"North America is estimated to be the second-largest market for the agricultural films market, in terms of value, during the forecast period."
North America secures the second-largest position in the agricultural films market, by following Asia Pacific. This strength come from a well-established agricultural industry in the US, readily embracing advancements like greenhouse films and mulch films to optimize yields and resource use. Furthermore, North American producers are leaders in film innovation, constantly developing new features for improved performance and environmental considerations. The vast areas dedicated to large scale farming further strengthen demand for films used in silage wraps and row covers.
The key players profiled in the report include Berry Global Group, Inc. (US), Dow Inc. (US), RKW Group (Germany), BASF SE (Germany), Coveris (Austria), Kuraray Co., Ltd. (Japan), Rani Group (Finland), Armando Alvarez Group (Spain), Industrial Development Company sal (Lebanon)and others.
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