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A recent report published by Infinium Global Research on silo bags market provides 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, forecast and dollar values of global silo bags market.
Silo bags were originally developed for the 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 kind 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 a study by the World Wildlife Fund and Tesco Plc, about 1.2 billion tons are lost on 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. An increasing number of government subsidies to farmers is anticipated to support market growth. Several governments across the world offer subsidies to 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 2018-20 in some form of subsidy to their agricultural sectors. However, the 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 farmers. Nevertheless, the development of silo bags with advanced technologies is likely to boost market growth over the forecast period.
The silo bags market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is expected to hold a maximum share of the silo bags market during the projected period. The United States is one of the largest producers of agricultural products such as corn, soybeans, and wheat. As the demand for efficient and cost-effective storage solutions is on the rise, the demand for silo bags in the region is expected to grow during the forecasted period. Moreover, the Europe region is anticipated to grab a significant share of the market due to the, growing adoption of modern-age farming practices along with the need for flexible storage units. Silo bags offer a versatile and convenient storage option for agricultural products, allowing farmers to store their harvests effectively and with greater flexibility. The ability to store grains, crops, and other agricultural produce in silo bags provides an efficient way to manage inventory, reduce spoilage, and protect crops from adverse weather conditions.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 613.71 Million |
| Market Size by 2030 | USD 1,061.88 Million |
| Growth Rate from 2023 to 2030 | CAGR of 6.30% |
| Largest Market | North America |
| No. of Pages | 180 |
| Market Drivers |
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| Market Segmentation | By Length Type, and By Application |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on 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 over 90 meter. On the basis of application, the sub-markets include grain storage, forages storage, fertilizers storage, dried fruits storage, and other applications.
The report provides profiles of the companies in the market such as IPESA - RIO CHICO S.A., LLC Planet Plastic, Up North Plastics, Inc., The RKW Group, Berry Global Inc., Plastika Kritis S.A., Rishi FIBC Solutions Pvt.Ltd., grainbags.ro, Poly-Ag Corp., and Agroflex.
The report provides deep insights into 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 forecasts from 2023-2030. 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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