Newark, Feb. 21, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 700 million in 2023 global silo bags market will reach USD 1377 million in 2033. Grain bags are substantial, pliable storage bins of sturdy materials such as polyethylene. These bags temporarily store agricultural products, especially grains and fodder crops. To accommodate varying contents, silo bags can be as long as a few metres or as long as over a hundred metres. The contents of silo bags can be kept in an airtight atmosphere. The crops are protected from air, moisture, and pests by this airtight seal, which also helps to maintain the crops' quality. When conventional storage facilities like silos or bins are insufficient, they serve as a temporary storage substitute. Other uses for them include crises and bumper harvests. Farmers can strategically install silo bags for convenient harvesting and transportation because they give flexibility in terms of location. Because of their versatility and handleability, they are a sensible option for farmers without access to heavy machinery. They are productive and economical. Because of their adaptability, farmers may store their crops closer to the field, saving money on transportation and expediting the harvesting process. Comparing silo bags to conventional storage methods can result in financial savings, less environmental effects, and more effective use of resources.
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Key Insight of the Global Silo Bags Market
North America will dominate the market during the forecast period.
The region's propensity for large-scale commercial agriculture has increased demand for flexible and scalable storage options, which in turn has increased demand for silo bags. Modern storage techniques and agricultural technical advancements have further increased the popularity of silo bags. Initiatives aimed at raising awareness and educating farmers about the advantages of silo bags have contributed to their widespread use. The region's sizable cattle industry also plays a role in the use of silo bags to preserve forage crops like silage. The accessibility and supportive infrastructure also play a part in expanding the regional market.
In 2023, the 75-meter segment dominated the market with the largest market share of 40% and revenue of 280 million.
The length segment is divided into 60 meters, 75 meters, and 90 meters. In 2023, the 75-meter segment dominated the market with the largest market share of 40% and revenue of 280 million.
In 2023, the polyethylene (PE) segment dominated the market with the largest share of 46% and revenue of 322 million.
The material type segment is divided into polyethylene (PE), polypropylene (PP), and others. In 2023, the polyethylene (PE) segment dominated the market with the largest share of 46% and revenue of 322 million.
In 2023, the grain storage segment dominated the market with the largest market share of 48% and revenue of 336 million.
The application segment is divided into grain storage, forage storage, fertilizers storage, dried fruits storage, and others. In 2023, the grain storage segment dominated the market with the largest market share of 48% and revenue of 336 million.
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Advancement in market
In the Argentine province of Trilí, Louis Dreyfus Co. (LDC) purchased a grain and oilseeds collection plant that will be prepared to accept and condition grains after planned modifications and reactivation. The plant can handle 40,000 tonnes of silo bags and 1,600 tonnes of silos. According to LDC, the facility could handle large amounts of oilseeds and grains all year round. This is the Netherlands-based LDC's second facility in the province and its eleventh in Argentina. Once in operation, the Trilí Acopio is anticipated to create additional indirect jobs in neighbouring areas and directly employ a dozen individuals.
Market Dynamics
Driver: the growing need for food as the world's population grows.
The agriculture industry will require effective and adaptable storage solutions to meet the growing demand for food. This need is met by silo bags, which are an affordable substitute for permanent constructions, can handle varying harvest sizes, and can be tailored to fit a variety of agricultural environments. Farmers have a flexible tool to handle excess output because of the silo bags' intrinsic flexibility, which fits with the dynamic nature of agriculture in terms of installation convenience and placement. The use of silo bags is also encouraged by the growing government funding for sustainable projects and advanced farming methods. The growing usage of silo bags in horticulture, which extends beyond conventional grain storage, diversifies their application and increases their attractiveness to a greater variety of crops. Consequently, as the world's population grows, there will be a greater need for food, which will spur the market's expansion and creative and efficient crop storage solutions like silo bags are needed.
Restraints: The difficulties in maintaining silo bags.
Farmers that require long-term storage may encounter difficulties because silo bags are only appropriate for short-term storage. Furthermore, the airtight seal of silo bags is threatened by the possibility of punctures by sharp objects or wildlife, which could lower the quality of crops that are stored. Exposure to harsh weather conditions can eventually affect the bags' durability, thus shortening their lifespan. Limited-size alternatives may also constrain growth in the market. Larger size difficulties demand specialized equipment, which raises the cost of people and machines. The ignorance of silo bag maintenance further constrains the expansion of the market.
Opportunities: developments in technology.
Technological developments and innovations aimed at enhancing the robustness, capacity for sealing, and general effectiveness of silo bags contribute to the steady and increasing demand for these storage options. The resilience and resistance capabilities of advanced materials guarantee the longevity of silo bags in a range of weather scenarios. Farmers can now access real-time data on storage conditions given the integration of monitoring and control systems, which promotes proactive management and lowers the chance of crop deterioration. Thus, throughout the course of the forecast period, these developments and innovations will fuel the growth and expansion of the worldwide silo bag market.
Challenges: Environmental concerns given the use of polyethylene for silo bags.
Concerns over plastic waste and sustainability issues may hinder adoption of silo bags. The lack of familiarity and awareness on the part of farmers poses another challenge for the market’s growth. Market access and availability may be limited in certain regions, hindering adoption, particularly in remote or less developed agricultural areas. Therefore, the challenges related to environmental concerns, awareness, accessibility and other concerns will limit the adoption of silo bags and could impact the growth of the market.
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Some of the major players operating in the global silo bags market are:
• Agroflex
• ARGSELMASH
• Berry Global Inc.
• Blue lake Plastics, LLC
• Canadian Tarpaulin Manufacturers Ltd.
• GEM Silage Products
• IG Industrial Plastics, LLC
• IPESA USA LLC
• Planet Plastic LLC
• PLASTAR
Key Segments covered in the market:
By Length
• 60 Meters
• 75 Meters
• 90 Meters
By Material Type
• Polyethylene (PE)
• Polypropylene (PP)
• Others
By Application
• Grain Storage
• Forage Storage
• Fertilizers Storage
• Dried Fruits Storage
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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