LONDON--(BUSINESS WIRE)--The global agricultural packaging market is expected to grow at a CAGR of over 4% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global agricultural packaging market for 2016-2020. The market is further categorized into two product segments, including plastic packaging and agricultural packaging market by other materials, of which the agricultural packaging market by other materials segment dominated the market with more than 63% of the overall market share in 2015.
“With an increase in consumer focus on quality, the importance of hygiene and convenience in the agricultural packaging market has increased. For perishable food products such as vegetables and fruits, packaging not only ensures hygiene and convenience but also protects the products during transit,” says Sharan Raj, a lead packaging research expert from Technavio.
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Technavio’s research study segments the global agricultural packaging market into the following regions:
- APAC
- Europe
- North America
- ROW
- South America
In terms of revenue, APAC accounted for the major share, with 35.14% of the global agricultural packaging market in 2015, followed by Europe with 30.55%, North America with 23.42%, South America with 6.99%, and ROW with 3.90%.
Agricultural packaging market in APAC
Growth in fresh produce production is helping packaging to play a significant role in the protecting, tracing, and marketing of products in the market. The demand for fresh produce packaging will increase due to growing preference toward the consumption of fresh and nutritious food in the fruits sector, which will rise at a faster pace than the vegetables sector.
“Corrugated boxes are most preferred for packaging fresh produce for bulk shipments due to the light weight, low cost, graphics capabilities, and recyclability. The demand for corrugated boxes in APAC will increase during the forecast period,” says Sharan.
Agricultural packaging market in Europe
In Europe, more than 70% of fruits and vegetables are sold in unpacked form. Corrugated board is the most preferred packaging product in the region for the transportation of fresh products as corrugated boxes are soft and do not affect the outer layers of fruits and vegetables, unlike wooden crates which are rough. Around 70% of the fresh products that are transported in the region, use crates made from corrugated board.
More than 100 million tons of fresh fruits and vegetables are consumed each year in Europe and, the consumption will continue to increase, propelling the growth of the corrugated board market, which saw a 25% increase in sales between 2006 and 2016.
Agricultural packaging market in North America
Agricultural packaging market in North America is dominated by the US. The market is very competitive. California, Wisconsin, and Idaho generate most of the revenue for fresh food packaging. Most of the agricultural packaging vendors in North America are from the US. There are approximately 2.2 million farms in the US, and the average American consumes roughly 273.2 pounds of fruits each year.
Agricultural packaging is very important as 44% of the food wastage in North America happens either during the production process, post-harvest treatment procedures and during storage and transportation.
The top vendors in the global agricultural packaging market highlighted in the report are:
- Amcor
- Bemis
- DS Smith
- KapStone Paper and Packaging
- LINPAC
- Mondi
- Tetra Laval
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