AGRICULTURAL FILMS MARKET ANALYSIS

Agricultural Films MarketSize and Trends

Market Dynamics:-

Increasing global population, which leads to high food demand is also expected to boost growth of the agricultural films market. Agriculture films are assumed to increase crop quality and yield. According to Population Reference Bureau (PRB), world population is expected to reach 9.9 billion by 2050 up by 29%, from 7.6 billion in 2018. Therefore, significant growth in global population is expected to boost the agriculture film market growth during the forecast period.

Market Outlook:-

Among product type, Linear Low Density Polyethylene (LLDPE) is expected to drive growth of agriculture film market during the forecast period. This is owing to increasing use of LLDPE in agricultural films due to its properties such as resistance to sunlight and cracking, high tensile strength, and high puncture resistance. Low-density Polyethylene (LDPE) is replaced by LLDPE in many application areas due to its high performance and lower production cost.

Among applications, the greenhouse film segment is expected to witness significant growth in the global agricultural films market. Greenhouse films offer durability and protect crops from UV rays.

Asia Pacific holds dominant position in the agriculture films market and is the fastest growing market during the forecast period. This is due to increasing adoption of controlled agriculture (controlled environment agriculture is a technology, which maintains optimal growing conditions and provides protection throughout the development of crops) and growing population in the region. A significant growth in the agricultural sector and increasing demand for food in countries such as India is also expected to contribute to growth of the agricultural films market in the region. For instance, according to India Brand Equity Foundation, Government of India is targeting food grain production of 285.2 million tons in 2019 from 284.83 million tons in 2017.