Global Silo Bags Market Driven by Increased Demand for Grain Storage and Anticipated to Register Strong CAGR of 6.5% by 2026
Global market for silo bags is likely to witness strong growth, registering 6.5% CAGR during 2017-2026. The market is also likely to reach US$ 693.2 million revenue by the end of 2026.
Albany, NY -- (SBWire) -- 12/22/2017 --Grain storage systems are essential in today's volatile agricultural environment. According to the latest study, the pressure on the production of agricultural crops is increasing owing to the rising population, which has led to the convenient packaging solution of crops. Silo bags are the perfect solution for this, which are being used on a large scale for storing grains as it provides protection from UV rays. Moreover, their flexibility makes them ideal for shipping bulk materials. Market Research Hub (MRH) has recently included this new study to its wide repository, which is titled as "Silo Bags Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026", and offers a holistic outlook of the market covering market trends, factors along with industry growth prospects from 2012 to 2017, and forecast to 2026.
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The regional outlook offered in the report offers analysis and insights on the markets in North America, Europe, Latin America, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA). Looking to the global market scenario, it has been analyzed that storing grains for a long time with help of silo bags is also allowing producers to plan logistics in an efficient way, thereby increasing sales. According to the recent findings, the global market for silo bags is likely to witness strong growth, registering 6.5% CAGR during 2017-2026. The market is also likely to reach US$ 693.2 million revenue by the end of 2026.
Silo bags are the types of bags used in packaging and protecting product from exterior storage for a long period, especially food grains. Considering this, the report also adds that silo bags are likely to find the largest application in grain storage during the forecast period 2017-2026. By the end of 2026, grain storage segment is probable to reach closely US$ 500 million revenue. Other applications include forages storage, fertilizers storage, dried fruits storage and others.
In this study, a detailed discussion of the segmentation of the silo bags market provides readers with a clear view of the various components of the market. Apart from the region and application-wise segmentation, the global silo bags market is segmented into material type, length type. The material used in this bags include Polyethylene (PE) and Polypropylene (PP). Based on the length type, the market is segmented into 60 meters, 75 meters and 90 meters.
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Moving further, the study includes the profiles of key players in the market and the strategies adopted by them to sustain in the competition. The subsequent section also present company details, market performance, SWOT analysis, sales, volume and revenue forecast till 2026. Some of the crucial players profiled in the report include RKW Group, BagMan LLC, IPESA, Canadian Tarpaulin Manufacturers LTD, Grain Bags Canada, Temudjin Flex-Pack BV, GEM Silage Products, Brain Chamber Polysacks PVT.Ltd, Sigma AG (Sigma Stretch Film), GrainPro Philippines, Inc., and Hangzhou Xinguang Plastic Co., Ltd.
Research also finds that increasing demand for convenient packaging is driving manufacturers to focus on developing silo bags with optimum space, storage efficiency, flexibility and high performance.
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