Silo bags Market

Global North America Silo Bags Market 2016 - 2026

Increasing demand for storage during harvest season coupled with growing consumer spending are the key growth drivers of the North America silo bags market over the forecast period

The need for a cost-efficient solution for storage of grains and animal fodder has led to extensive preference for silo bags among farmers in the U.S. and Canada. The North America silo bags market is expected to witness healthy growth rate owing to small farmers demanding silo bags for short-term and affordable packaging and storage purposes. Silo bags, also known as harvest grain bags are used as an alternative storage system for grains such as wheat, corn, maize, sorghum, etc. in order to fulfil shortage of cattle fodder during dry seasons. The North America silo bags market is expected to create good opportunities for suppliers, distributors and manufacturers operating in the market.

Revenue generated from the North America silo bags market is estimated to touch nearly US$ 34 Mn in 2017 and is forecast to reach nearly US$ 51 Mn in 2024, registering a CAGR of 4.8% during the forecast period. In terms of volume, the North America silo bags market is projected to register a CAGR of 4.4% to reach 62,700 units by 2026.

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The need to provide optimal protection for agricultural produce is coming at a great price for North American farmers and agroindustrialists. Serving this purpose, silo bags are likely to lose out in terms of demand, owing to rising prices of raw materials. Future Market Insights’ latest report on North America’s silo bags market indicates that undulating prices of raw materials such as polyethylene films is curbing the production of silo bags. Contingent upon the monotony of this scenario in the years to come, North America’s silo bags is less likely to soar at a steady momentum, and will probably exhibit revenue growth at 4.8% CAGR.

Nonetheless, the decline in demand for silo bags across North America is not solely orchestrated by volatility of raw material prices. Future Market Insights’ report, titled “Silo Bags Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” predicts that strict environmental regulations associated with industrial use and large-scale production of plastic films is restraining a cost-effective production of silo bags. Silo bags, made from raw materials such as polyethylene or polypropylene films, are another burden on such regulatory authorities as dumping waste silo bags leads to environmental degradation. Key findings of the report indicate that through 2026, more than 90% of North America’s silo bags revenues emanate from sales of polyethylene bags, which further aggravates the environmental regulatory conditions.

Silo bags Market: Introduction

Packaging plays an important role in attracting customers towards any product offered by a manufacturers. Apart from that, packaging is also used for protection and bulk material shipping. One such type of packaging is silo bags packaging. Silo bags are 2.4 to 3.6 meter elongated and flexible plastic bags. The length of these bags depends on the quantity of material to be stored and the machine used for packing purposes. As the cultivable land is decreasing, the demand for silo bags is gradually increasing. Silo bags are also being used to protect grains from any kinds of external damage.

Silo bags: Market Dynamics

The silo bags market is being driven by the increase in awareness about wastage of grains during cultivation. Grain wastage hampers the overall production of crops. Moreover, the rising population of the world is expected to create huge pressure on the overall production of agricultural crops. Silo bags are useful as they can be used to protect grains and thus, help in meeting increased demand for crops.

Silo bags Market: Introduction

Packaging plays an important role in attracting customers towards any product offered by a manufacturers. Apart from that, packaging is also used for protection and bulk material shipping.  One such type of packaging is silo bags packaging. Silo bags are 2.4 to 3.6 meter elongated and flexible plastic bags. The length of these bags depends on the quantity of material to be stored and the machine used for packing purposes. As the cultivable land is decreasing, the demand for silo bags is gradually increasing. Silo bags are also being used to protect grains from any kinds of external damage.

Silo bags: Market Dynamics

The silo bags market is being driven by the increase in awareness about wastage of grains during cultivation. Grain wastage hampers the overall production of crops. Moreover, the rising population of the world is expected to create huge pressure on the overall production of agricultural crops. Silo bags are useful as they can be used to protect grains and thus, help in meeting increased demand for crops.