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.
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
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.
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.
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.
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.