Silage Bags Market estimated high revenue by 2016-2024

Deerfield Beach, FL -- (SBWire) -- 10/11/2017 --Silage bags are used in the storage and packaging of green fodder known as silage. Silage has to be stored in airtight and compact conditions for which silage bags are ideal. These bags are mainly used by the farmers as they provide better storage capacity. Also, they are cost-effective as compared to the other storage alternatives such as bunkers, piles, and silo system which requires higher investments. There is a growing demand for food due to the increasing population across the globe. Silage bags are used to store agricultural produce as it prevents wastage through external damage. These features of the silage bag make them a highly demanded product in the market.

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The global silage bag market is segmented into its capacity, grain type, and geography. On the basis of capacity, the market is divided into very large, large, and small sized bags. Based on grain type, the market is segregated into dried fruits, crushed grains, wet grains, dry grains, and others. On the basis of geography, the market is classified into Latin America, Asia Pacific, the Middle East and Africa, Europe, and North America.

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There is a great demand for silage bags in the market as they have convenient storage quality which makes them ideal for the storage of agricultural products like food grains, crops, fodder, and feed. Also, the reduction in the production of crops and increasing demand of the agricultural products is expected to fuel the market demand for silage bags. Features of the silage bag such as minimum space requirement, low-cost investment, and ease of handling influence the market significantly. Farmers prefer silage bags over larger silo system owing to their short-term requirements and the cost-effectiveness of silage bags. However, the presence of alternatives having better storage capacity such as ditches, bunkers, containers may cause hindrance to the market demand.

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The largest share in the silage market is held by Asia Pacific. Growth can be attributed to the growing population coupled with the rapidly developing middle-class population and rising incomes of the individuals in this region. Countries such as China, India, Australia, Japan, and New Zealand are some of the major growth centers in Asia Pacific region. Following the growth of Asia Pacific is Latin America owing to the growing demand for silage bags in this region. Mexico and Brazil will show considerable growth in Latin America. Growth in North America and Europe, however, is at a moderate pace. Also, the Middle East and Africa region will be witnessing a sluggish growth rate during the future years.

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Some of the major companies in the silage bag market include Silo Bags International Limited, RKW Groups, Flex Pack, Silo Bags India, Grain Bags Canada, Silo Bag Grain, Ipesa – Rio Chico S.A., and The Panama Group.