Growth Drivers
Challenges
Base Year |
2022 |
Forecast Year |
2023-2033 |
CAGR |
~6% |
Base Year Market Size (2022) |
~USD 12 Billion |
Forecast Year Market Size (2033) |
~USD 18 Billion |
Regional Scope |
|
Global Agricultural Films Market Size, Forecast, and Trend Highlights Over 2023 – 2033
The global agricultural films market is estimated to garner a revenue of ~USD 18 Billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 12 Billion in the year 2022. The worldwide increasing population which has further estimated to boost the demand for food is estimated to fuel the market growth during the coming years. As per The World Bank data, the world’s population in 2018 was 7.6 billion and increased to 7.84 billion in 2021. Hence has population is increasing the production of food all across the globe. Food is essential part of population’s life since it provides nutrition to them. However, producing more food is huge challenge for farmers. Hence they are seen adopting more sustainable method of agriculture in order to provide quality food. Hence the adoption for agriculture films is anticipated to increase.
The use of biodegradable films in agriculture, helps to increase crop yield and improve water use efficiency by retaining soil moisture and increasing soil temperature. Therefore, increasing use of biodegradable films and government regulations to use traditional plastic in crop products are major factors expected to rise the farm films market growth during the forecast period. For instance, as per the observations, in 2018 the use of polyethylene plastic film rose the crop yield to 1.5 million cubic tons or over 18 million hectares which is equal to more than 14% of the total fertile land of China. Furthermore, significantly increasing demand to lower the soil erosion and compaction are some further factors that are fueling up the growth of the market over the forecast period.
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
6.8% |
Base Year Market Size (2024) |
USD 13.23 billion |
Forecast Year Market Size (2037) |
USD 30.29 billion |
Regional Scope |
|
Author Credits: Rajrani Baghel
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