According to a report by Fortune Business Insights, the global agricultural films market is anticipated to achieve a valuation of USD 14,315.4 million by 2026, showcasing a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The market's growth prospects are attributed to the increasing utilization of films in various agricultural applications such as tunnels, greenhouses, plastic reservoirs, irrigation systems, mulching, silage, and others. The incessantly growing demand for food has propelled the need for effective additives for plastics in agricultural applications, consequently driving trends in the agricultural films market. Moreover, agricultural films demonstrate the ability to enhance crop productivity, further augmenting their demand and fostering healthy market growth.
In 2018, the agricultural films industry recorded a size of USD 8,686.0 million. The agricultural films market report provides a detailed focus on the definition, types, applications, and major players. A comprehensive analysis of the market status, competition pattern, enterprise, advantages and disadvantages of enterprise products, industry development trends, regional industrial layout characteristics, macroeconomic policies, and industrial policies is presented within the synopsis. The report aims to offer companies, investors, potential shareholders, and venture capitalists a comprehensive view of industrial development and market characteristics. Additionally, the report benefits its readers by providing unparalleled data in an organized manner.
Market Driver:
Biodegradable Films to Address Environmental Concerns
Growing environmental concerns and threats to human health have prompted the adoption of biodegradable films as an alternative solution in the agricultural films sector. Efforts to develop biodegradable or edible films from biopolymers, aimed at improving crop performance and farming practices among end-users, are expected to positively impact the agricultural films market share. Biodegradable agricultural films, derived from natural polymers, offer several benefits such as improved crop quality, increased yields, reduced water usage for irrigation, enhanced pest control, and pesticide reduction. Moreover, stringent government regulations regarding environmental protection are anticipated to drive market expansion in the coming years. Furthermore, these films are entirely organic, facilitating their transformation by bacterial flora into water and biomass, thereby reducing water pollution.
Regional Analysis:
Asia Pacific Poised for Growth due to Surge in Food Production
The growing population and favorable government regulations are expected to propel market growth in the Asia Pacific region. North America is forecasted to witness high growth rates during the forecast period, driven by consumers' shifting preferences towards plant-based food. Europe is anticipated to exhibit consistent growth in the coming years, owing to the increasing use of biodegradable agricultural films in the region. The Asia Pacific market, valued at USD 5,924.4 million in 2018, is poised for rapid growth during the forecast period, driven by increased food production in developing countries such as India and China. The growing adoption of mulching agricultural films is expected to further drive market growth in the Asia Pacific region.
Source:
https://www.fortunebusinessinsights.com/agricultural-films-market-102701
