Mulch Film Penetration Increases in Agriculture, Demand to Quadruple in Next Ten Years to 4 Million Ton :Fact.MR

NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global agricultural films market is poised to grow at a CAGR of 6% between 2021 and 2031. Fact.MR predicts the overall sales to hit US$ 10 Bn by the end of 2021. Agricultural films sold for manufacturing silo bags will total US$ 6.5 bn by 2021. NEW YORK,Aug. 3, 2021/PRNewswire/ --Fact.MR – A Market Research and Competitive Intelligence Provider:The global agricultural films...

NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global agricultural films market is poised to grow at a CAGR of 6% between 2021 and 2031. Fact.MR predicts the overall sales to hit US$ 10 Bn by the end of 2021. Agricultural films sold for manufacturing silo bags will total US$ 6.5 bn by 2021.

According to the study, the global agricultural films market registered a CAGR of 3.5% during its historical period of 2016 to 2020. The rising demand in the U.S., Japan, India, and China will continue presenting growth opportunities.

Coupled with this, sales will soar as focus on environmentally-friendly and biodegradable solutions multiply in the agricultural sector. Market value will increase at an impressive pace as some of the leading manufacturing adopt latest technologies to offer more sustainable solutions.

The advent of agricultural film laying machines has made this possible, enabling effortless and more precise production of films, that too on a large scape. These developments will bode well for the market, bolstering sales prospects through forecast period.

Growing adoption of agricultural films such as greenhouse films and mulch for crop production will continue creating attractive growth prospects through the forecast period.

Fact.MR has identified East Asia as a chief region for sales. The regional market is expected to witness double-digit growth amid rising demand from Chinese consumers. Multiplying focus on sustainable agricultural practices will have a positive impact on the East Asia market.

Meanwhile, the market in the Middle East and Africa is still at a nascent stage, presenting lucrative prospects for market players to capitalize on. Swift growth of economic activities and focus on agricultural expansion will enable agricultural films sales in the region to top US$ 705 Mn by 2031.

"Product launches and expansion of manufacturing units remain key strategies adopted by the market players. These strategies also will remain crucial for expansion of their footprint across emerging markets," says a Fact.MR analyst.

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Competitive Landscape

Companies operating in the global agricultural films market are focusing on product launches and expanding their footprint in developing regions.

For instance, on 12^thJanuary 2021, Ab Rani Plast Oy launched a product named, "RaniWrap Ecol" in Europe. Its trial delivered brilliant results and is considered as a more sustainable product that helps in reducing carbon footprint.

On 4^thMarch 2021, Berry Global announced investment of US$30 mn so that it can increase production capacity of ultra-high performance machines and hand stretch films.

The key players operating in the global agricultural films market as profiled by Fact.MR are:

More Valuable Insights on Agricultural Films Market

Fact.MR, in its new report, offers an unbiased analysis of the global agricultural films market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections in agricultural films market with detailed segmentation:

By Film

By Material

By Application

Regions

Key Questions Covered in the Agricultural Films Market Report 

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