According to Future Market Insights, this is expected to rise at a Y-o-Y growth rate of 5.4% to reach US$ 6,831 million by the end of 2023. The scope for agriculture packaging is further poised to expand, with an expected CAGR of 5.3% from 2023 to 2033. By 2033, a valuation of US$ 11,449.1 million is projected.
The demand for agricultural packaging is increasing due to the growing demand for efficiency in supply chains by reducing food waste. The Birmingham Energy Institute says over 90% of food waste in emerging countries occurs during storage and transportation. Hence, increasing awareness with regard to food product loss during harvesting and shipping is expected to drive the demand for cost-effective and sustainable agricultural packaging solutions. The superior protection offered by agricultural packaging helps in keeping the inside contents free from any contaminants, microorganisms, wetness, and toxins. This is expected to fuel the demand for agriculture packaging solutions in the coming years.
This story is from the JUNE - 2023 edition of Food & Beverages Processing.
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This story is from the JUNE - 2023 edition of Food & Beverages Processing.
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