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Silo Bags Market (Length Type - 60 Meter, 75 Meter, and 90 Meter); Application - Grain Storage, Forages Storage, Fertilizers Storage, Dried Fruits Storage, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : April, 2021

  • Rep Id : HC0066

  • Category : Consumer Goods and Packaging

  • Status : Published

A recent report published by Infinium Global Research on the silo bags market provides an in-depth analysis of segments and sub-segments in the global as well as regional silo bags market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional silo bags market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global silo bags market. According to the report, the global silo bags market is projected to grow at a CAGR of 6.25% over the forecast period of 2020-2026.

 

Market Insight

Silo bags were originally developed for anaerobic storage of chopped forages. These bags are now being adapted for bulk grain storage. Silo bags are based on hermetic storage technology that reduces post-harvest losses while providing an economic alternative for farmers to gain control over marketing their stored grain between crop harvests. These bags generally consist of three to seven layers of polyethylene of about 250 microns’ thickness. The outer layer is white to reflect solar radiation, and the inner layer is black to block sunlight. A typical silo bag is about 60 meters long, 3 meters in diameter, and can store as much as 200 tons of wheat, maize and soybeans. They can also be used for smaller quantities by simply using less of the bag. A properly sealed silo bag is watertight and has a high degree of gas tightness to CO2, and O2. These bags are also being used to protect grains from any kinds of external damage. All these characteristics make them an alluring item in the market. In addition, as the cultivable land is decreasing, the demand for silo bags is progressively increasing.

 

According to study by World Wildlife Fund and Tesco Plc, about 1.2 billion tons is lost on the farms due to inefficient storage solutions. Silo bags are one of the most effective and efficient storage solutions for grains. The growing demand for efficient grain storage solutions is majorly driving the silo bags market. In addition, the rising demand for convenient packaging, lesser cost investment, and ease of handling are the factors boosting the silo bags market significantly.  Increasing number of government subsidies to farmers is anticipated to support the market growth. Several governments across the world offer subsidies to the farmers for their agricultural operations. According to the Organization for Economic Co-operation and Development’s (OECD) Agricultural Policy Monitoring and Evaluation 2021, governments across the world spent around an average of USD 719 billion annually during 2018-20in some form of subsidy to their agricultural sectors. However, availability of various storage alternatives is expected to hamper the market growth. Solutions such as grain bins, metal silos, bunkers, and containers offer storage capabilities to the farmers. Nevertheless, development of silo bags with advanced technologies is likely to boost the market growth over the forecast period.

 

 Among the regions, South America held the dominant position in the global silo bags market. The region occupied majority shares in the global markets with Argentina occupying majority of the shares in the region. Major South American countries such as Argentina and Brazil are also largest producers of grains such as soyabean and wheat. According to FAO, it is the 7th largest exporter of wheat in the world. Moreover, Argentina's soybean production in the 2021-22 marketing year will be boosted by an increased planting area, according to a Global Agricultural Information Network (GAIN) report from the US Department of Agriculture (USDA). Silo bags are majorly used for storing these grains.

 

Furthermore, Asia Pacific region is expected to exhibit the highest growth rate in the global silo bags market. The presence of emerging economies such as China and India will augment this market. Moreover, as China is the top country by wheat production in the world that accounts for 20.65% of the world's wheat production. Also, Australia is anticipated to have an immense impact on the global silo bags market as agriculture is one of the most important means of sustenance in the country.

 

Segment Covered

The report on the global silo bags market covers segments such as length type, and application. On the basis of length type, the sub-markets include 60 meter, 75 meter, and 90 meter. On the basis of application, the sub-markets include grain storage, forages storage, fertilizers storage, dried fruits storage, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Armando Alvarez Group, PlastikaKritis S.A, Plastar Group, Ipesa - Rio Chico SA, RKW Group, Berry Global, Inc., Up North Plastics Inc., IG Industrial Plastics,  Rishi FIBC Solutions PVT. Ltd., and LLC Planet Plastic.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the silo bags market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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