NEW YORK, United States, May 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Silo Bags Market By Capacity Of Bags (Up To 2000 Mt And Above 2000 Mt), By Storage (Fertilizer, Dry Grains, Wood Chips, Forages, Dried Fruits, Rolled/Crushed Grains, Wet Grains, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Silo Bags Market size & share in terms of revenue was valued at USD 390 million in 2022 and it is expected to surpass around USD 921 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.61% during the forecast period 2023 to 2030.”
What are Silo Bags? How big is the Silo Bags Industry?
Silo Bags Market Coverage & Overview:
Silo bags are sometimes known as grain bags or silage bags. They are tubes made of plastic that are used for storing agricultural items like grain, silage, and haylage, among other things. The majority of the time, silo bags are constructed out of multi-layered high-density polyethylene (HDPE) plastic due to the material's strength, flexibility, and impermeable tendency towards moisture or air. As a result, the object that is being stored is afforded an increased level of protection. It is possible to use a grain cart or a forage harvester in order to fill the bags. In order to seal the silo bags after they have been filled, a specialized machine is necessary.
This machine guarantees that the bag's air content is evacuated before sealing, so generating an airtight seal that is beneficial in preventing the growth of mould or bacteria. The hermetically sealed products are protected from any form of damage throughout the entire process of storage and transportation. During the entire procedure, neither the food nor its nutritional content is altered in any way.
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Global Silo Bags Market: Growth Factors
It is anticipated that the global market for silo bags will expand as a result of the rising demand for food products in every region of the world. According to projections made by the United Nations (UN), the global population has already surpassed 8 billion people, and it is anticipated that this number would climb to more than 9.5 billion by the year 2050. Given that food is one of humanity's most fundamental need, the rapid rate at which the world's population is expanding is an indication of the enormous amount of pressure that is being placed on the agricultural sector. Every individual, regardless of their financial or economic circumstances, will have access to an appropriate amount of food grains thanks to a number of new programmes that have been launched jointly by government agencies and private businesses.
As a result of its high level of efficiency in preventing the food contained within the bag from being tainted by any form of damage brought on by external forces, silo bags are highly sought items in the agricultural industry. In addition, farmers are experiencing a severe lack of available storage facilities, and silo bags have the potential to serve as an excellent source of storage at a cost that is relatively lower, which would ultimately result in increased consumption.
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Report Scope
| Report Attribute | Details |
| Market Size in 2022 | USD 390 Million |
| Projected Market Size in 2030 | USD 921 Million |
| CAGR Growth Rate | 6.61% CAGR |
| Base Year | 2022 |
| Forecast Years | 2023-2030 |
| Key Market Players | RKW Group, GrainPro, Inc., Silo Bag India Pvt. Ltd., The Context Network, Canadian Tarpaulin Manufacturers Ltd., The Andersons, Inc., Hangzhou Xinguang Plastic Co., Ltd., IPESA Silo Bags, Sigma AgriScience, LLC, KSI Supply, Inc., Flexipol Packaging Limited, Temudjin Flexible Packaging, RKD Rubber Pvt. Ltd., International Plastics Inc., Global-Pak, Inc., Blue Lake Plastics, LLC, PT. Delta Jaya Mas, Grain Bags Canada, RKW North America, Inc., Gaoqing Kuanbao Plastic Products Co., Ltd., Tianjin Yingtong Metal Products Co., Ltd., GreenBag America, Inc., Hangzhou Zon Packaging Machinery Co., Ltd., ESKO s.r.l., and Trucent. |
| Key Segment | By Capacity of Bags, By Storage, And By Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Purchase Options | Request customized purchase options to meet your research needs. Explore purchase options |
Silo Bags Market: Segmentation Analysis
The market for silo bags is broken down into many submarkets based on the capacity of the bags, the storage, and the regions.
The capacity of bags is used to categorise the global market into two distinct segments: up to 2000 mt and above 2000 mt. Because these silo bags are the ones that are most generally used for the large-scale storage of food grains such wheat, rice, corn and soybeans, the industry saw the biggest increase in 2022 in silo bags that had a capacity of more than 2,000 metric tonnes. These bags have a greater variety of commercial applications, and as a result, they create a greater amount of cash. This is because businesses have larger budgets than individual farmers or other smaller players in the agricultural market. By utilising these bags, significant quantities of food grain can be preserved for an extended period of time. In most cases, silo bags with a capacity of less than 2,000 metric tonnes are utilised by less significant businesses or by individual farmers. The estimates provided by the United States Department of Agriculture (USDA) indicate that in the year 2020, Russia produced around 85 million metric tonnes (MMT) of wheat and 13 MMT of barley.
Fertiliser, dry grains, wood chips, forages, dried fruits, rolled/crushed grains, wet grains, and other applications are the categories that make up the storage-based segments of the worldwide silo bags market. Dry grains such as corn, wheat, rice, soybeans and barley are the commodities that are most frequently kept in silo bags for storage purposes. These items are then put to use in the manufacturing of other goods, such as food, animal feed, and raw materials for industry. In these kinds of situations, silo bags are an extremely cost-efficient option because they not only extend the amount of time that food can be stored, but they also guarantee that the food's nutritional value will not degrade with time. As a result, they are ideal storage solutions, and not just for farmers but also for corporations. According to the Food and Agriculture Organisation (FAO) of the United Nations, annual estimates suggest that around 25 percent of the world's food output is either lost or wasted owing to a variety of factors, including moisture, pests, and other causes. These estimates are based on estimates provided by the FAO.
The global Silo Bags market is segmented as follows:
By Capacity of Bags
- Up to 2000 mt
- Above 2000 mt
By Storage
- Fertilizer
- Dry Grains
- Wood Chips
- Forages
- Dried Fruits
- Rolled/Crushed Grains
- Wet Grains
- Others
Browse the full “Silo Bags Market By Capacity Of Bags (Up To 2000 Mt And Above 2000 Mt), By Storage (Fertilizer, Dry Grains, Wood Chips, Forages, Dried Fruits, Rolled/Crushed Grains, Wet Grains, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report at https://www.zionmarketresearch.com/report/silo-bags-market
Competitive Landscape
Some of the main competitors dominating the global Silo Bags market include -
- RKW Group
- GrainPro Inc.
- Silo Bag India Pvt. Ltd.
- The Context Network
- Canadian Tarpaulin Manufacturers Ltd.
- The Andersons Inc.
- Hangzhou Xinguang Plastic Co. Ltd.
- IPESA Silo Bags
- Sigma AgriScience LLC
- KSI Supply Inc.
- Flexipol Packaging Limited
- Temudjin Flexible Packaging
- RKD Rubber Pvt. Ltd.
- International Plastics Inc.
- Global-Pak Inc.
- Blue Lake Plastics LLC
- PT. Delta Jaya Mas
- Grain Bags Canada
- RKW North America Inc.
- Gaoqing Kuanbao Plastic Products Co. Ltd.
- Tianjin Yingtong Metal Products Co. Ltd.
- GreenBag America Inc.
- Hangzhou Zon Packaging Machinery Co. Ltd.
- ESKO s.r.l.
- Trucent.
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Silo Bags market is likely to expand at a CAGR of around 6.61% during the forecast period (2023-2030).
- In terms of revenue, the Silo Bags market size was valued at around US$ 390 million in 2022 and is projected to reach US$ 921 million by 2030.
- The silo bags market is projected to grow at a significant rate due to the growing demand for food.
- Based on capacity of bags segmentation, above 2000 MT was predicted to show maximum market share in the year 2022.
- Based on storage segmentation, dry grains were the leading storage in 2022.
- On the basis of region, North America was the leading revenue generator in 2022
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Key questions answered in this report:
- What is the market size and growth rate forecast for Silo Bags industry?
- What are the main driving factors propelling the Silo Bags Market forward?
- What are the leading companies in the Silo Bags Industry?
- What segments does the Silo Bags Market cover?
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Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Capacity of Bags, By Storage, And By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
- North America to witness massive growth rate
The global silo bags market is expected to witness the highest growth rate in North America with the US acting as the dominant nation. 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 production and consumption of silo bags in the region may also witness a high growth rate. Europe is another significant contributor to the global industry with Germany and the US leading with higher CAGR due to the growing adoption of modern-age farming practices along with the need for flexible storage units. In Asia-Pacific, the growth may be the result of higher agricultural production in Russia, India, and China. Agriculture is the primary occupation in India and these regions collectively export a large number of food products. They are also registering high domestic demand as the population continues to rise.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Recent Developments
- In September 2022, Marcher Brasil announced the launch of a new food extractor tool called OUTGRAIN211. The machine effectively removes stored food grains from silo bags. The product is known to be efficient, safe, and quick, and promotes zero losses. OUTGRAIN211 was launched at the Expointer 2022 and has promised to make the most of the storage system by avoiding grain contamination
- In October 2022, Adani Agri Logistics Ltd, a part of the Adani Group, announced signing a contract with the Food Corporation of India (FCI) for building 4 silo complexes across Bihar and Uttar Pradesh states of India. These units are expected to improve silo storage capacity by 3.5 lakh tonnes.
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