The global silo bags market is expected to reach value of around US$ 712.2 Mn by 2026 and growing at a CAGR of 6.4% during the forecast period 2019 to 2026.
Silo bags are a kind of packaging which is utilized to protect the item from external harm particularly crops and grains. Also, silo bags give protection from UV rays and increment the shelf life of the items. They are prolonged plastic bags and flexible utilized for bulk material transportation. These characteristics make them an alluring item in the market. Manufacturers are paying attention towards this kind packaging because they doesn’t only protect product but also attract the customers towards product. These packaging are majorly used by farmers as they give better storage capacity.
The growth of the silo bags market is essentially driven by the rising demand for convenient packaging, lesser cost investment, lesser space requirement, and ease of handling influence the market significantly. The essential function of silo bags is to give increased protection and increase their shelf life. Also, they are cost effective in comparison to steel bins and provide comfort supple storage at a suitable place. Additionally, silo bags are utilized for the storage of agricultural items such as food grains, crops etc. apart from fodder and feed. The growing demand for agricultural items and decrease in manufacturing of feed and fodder crops are anticipated to accelerate the demand for silo bags. Government of various are taking steps to reduce food wastage, maintain food grain quality during storage for that many loss reduction programs are helping farmers to store food grains for a long time are propelling the growth tof market during the forecast period. However, presence of alternative having better storage capacity like bunkers, containers, ditches is anticipated to hamper the growth of the global silo bags market in the forthcoming years.
By material type, polyethylene (PE)segment dominated the silo bags market
Based on material type, the market has been segmented into polyethylene (PE), polypropylene (PP), and others. The polyethylene segment accounts of the largest share in the market and are expected to grow at a CAGR during the forecast period.
Various advantages of polyethylene such as lightweight, versatile, not reacting chemically with the material stored, fully recyclable, makes polyethylene as the preferred material for manufacturing silo bags. These properties are driving the growth of polyethylene segment in the global market during the forecast period.
Based on application, the grain storage segment is expected to dominate during the forecast period
Based on application, the market has been segmented into grain storage, forage storage, fertilizers storage, dried fruits storage, and others. The grain storage segment accounts of the largest share in the market in 2018. The major factors that are driving the growth of this segment are the increasing demand agricultural products, producers are manufacturing silo bags in different sizes and shapes, innovative technologies to develop silo bags. This anticipated to fuel the dominance of the grain storage segment in the global market throughout the forecast period.
The market research study on “Silo Bags Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”,offers a detailed insight into the global silo bags market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global silo bags market, length type, material type, application and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global silo bags market size and volume, and segment markets by length type, material type, application and geography along with the information on companies operating in the market. The silo bags market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North America accounted for the high market share of the corrugated boxes market and the region is also expected to maintain its dominance during the forecast period. Rapidly increase in small farmers, rise in demand storage purpose for short duration, affordable packaging, increase in innovation and development in packaging are the major driving factors for the region in the global market.Europe is anticipated to account for second largest in the global market over the forecast period. Government of various developing countries are taking initiatives is contributing to the shift from normal grain bags to silo bags are expected to accelerate the regional market growth in the global corrugated boxes market during the forecast.
Asia Pacific is anticipated to hold the highest CAGR in the global market throughout the forecast period. The growing population along with the rapidly developing middle class population, rise in per capita income, growing GDP, strong economic growth in countries, such as China, Japan, and India, are anticipated to fuel the market growth in the global silo bags market over the forecast.
The players profiled in the report Gain Pro, KSI Supply, Silo Bag Grain, Panama Group, Grain Bags Canada, Richiger, HYPLAST NV, Silo Bags International Limited, Context Network, and Silo Bag India Pvt. Ltd. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
Market By Length Type
Market By Material Type
Market By Material Type
Market By Geography
Middle East & Africa
Silo bags are a kind of packaging which is utilized to protect the item from external harm particularly crops and grains.
The rising demand for convenient packaging, lesser cost investment, and lesser space requirement are driving the silo bags.
Acumen Research and Consulting predict that the silo bags market value is anticipated to be worth around US$ 712.2 million in 2026.
The silo bags market is anticipated to grow over 6.4% CAGR during the forecast period 2019 to 2026.
North America held maximum share in 2018 for silo bags market.
Asia Pacific is projected to grow at a fast pace during forecast period in the silo bags market.
Gain Pro, KSI Supply, Silo Bag Grain, Panama Group, Grain Bags Canada, Richiger, HYPLAST NV, and Silo Bags International Limited are the top players operating in the silo bags market.