Leading silage film market players include The Dow Chemical Company, Coveries Management GmbH, Exxon Mobil Corporation, Groupe Barbier, BASF SE, RPC Group plc, Berry Global, Inc., Ball Corporation, RPC Group plc and Sonoco Products Company.
New York, Sept. 26, 2023 (GLOBE NEWSWIRE) — The global silage film market size is expected to expand at ~ 5% CAGR from 2023 to 2033. The market is anticipated to garner a revenue of USD 4 Billion by the end of 2033, up from a revenue of ~USD 2 Billion in the year 2022. The growing trend of livestock rearing and animal husbandry for farming and irrigation activities such as plowing, sowing, pulling stones, carts, and running machinery as well as to get milk, eggs, meat, and wool, together with the increasing number of dairy product consumers, meat eaters or nonvegetarians, and egg consumers, is leading to elevated demand for a high-quality, succulent feed every season of the year in the cattle industry at a low expense. For instance, predictions are made that over 5,500 facilities in the United States alone produce nearly 250 million tons of animal food every year.
Request Free Sample Copy of this Report @
Global Silage Film Market: Key Takeaways
- Market in North America to propel the highest growth
- High Density Polyethylene segment to garner the highest growth
- Market in Asia Pacific to grow at a highest rate
Growth in Demand and Production of Silage to Boost Market Growth
The widespread augmentation of the dairy farming industry, as well as the growing volume of farm animals together with cattle production, is leading to the demand for bulk silage and baled silage to feed dairy cattle and beef cattle, sheep, and horses, respectively. In the United States, cattle production represented around 17% of the overall USD 462 billion in cash receipts for agricultural commodities in 2022. As the preservation of crop quality and energy in the silo requires limited plant respiration, plant proteolytic activity, clostridial activity, and aerobic microbial activity, silage films are used. They preserve silage, hay, and corn, maintain the nutritional value of the contents, and prevent undesirable fermentation processes. Therefore, with the increasing demand for silage, its production is also expected to skyrocket in the projected period, leading to global silage film market growth. For instance, in 2022, Wisconsin and Minnesota produced nearly 19.8 million tons and 9.7 million tons of corn for silage, respectively.
Global Silage Film Market: Regional Overview
The global silage film market is majorly segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Production of Corn Silage to Drive Growth in the North American Region
The silage film in the North American region market is estimated to garner the largest revenue by the end of 2033. The growing demand for silage, combined with increased cattle production and a thriving beef industry, is primarily responsible for regional market growth.As of 2021, almost 100 million tons of corn were produced solely for silage in the United States. Moreover, as any green crop with adequate water-soluble carbohydrates and the correct moisture content can be cut, chopped, and ensiled, there is a rise in demand and supply of silage chopping and silage bagging in the region with the notable expansion in agricultural land and arable land crops. It was discovered that in 2019, approximately 50% of agricultural land was used for arable land crops.Hence, the silage film market in the North American region is expected to grow in the projected period.
Flourishing Agricultural Economy and Livestock Industry to Drive Growth in the Asia Pacific Region
The silage film in the Asia Pacific market is estimated to garner the highest CAGR by the end of 2033. The region is a decisive component in the global food chain, as it accounts for ~19% of total global food and agriculture exports and nearly 30% of total food and agriculture imports. This trend is majorly attributed to Asia’s vast and fastest-growing population, coupled with increasing incomes and a burgeoning middle class, which has led to an increase in cereal consumption, besides gradual shifts from staples to protein and other high-value food items like dairy, meat, and pork. Hence, the rapidly growing production of cereals such as maize as well as a heightening demand for silage from the pork and beef industries is expected to escalate the silage film market in the region in the projected period. Asia accounted for about 25% of the world’s maize production in 2019. Moreover, China was home to over 50% of the global pig population in 2022 and was the leading pork producer worldwide, with almost 55 million metric tons of pork production each year.
Make an Inquiry Before Buying this Report @
Global Silage Film, Segmentation by Type
- Linear Low-Density Polyethylene (LLDPE)
- Low-Density Polyethylene (LDPE)
- High-Density Polyethylene (HDPE)
- Ethylene-Vinyl Acetate (EVA)
The HDPE segment is anticipated to hold the largest revenue by the end of 2033. The growth of the segment can be accounted to the growing demand for recyclable and eco-friendly high-density polyethylene. In 2022, the production value was nearly USD 65 million for 150,000 metric tons. As consumer preference for environmentally friendly products grows owing to growing concern about greenhouse gases and the increasing carbon footprint, so does demand for HDPE, which is cost-effective with an affordable silage film price, mini-gas permeable, UV resistant, tear and puncture resistant, and provides high stretchability properties. Owing to the above-stated properties and benefits, the HDPE segment is expected to garner the largest market share. As per an estimation, the agricultural films’ recycling rate does not exceed 30%.
Request for Customization of this Report @
Global Silage Film, Segmentation by Film Type
The multilayer segment is anticipated to hold the largest revenue by the end of 2033. The factors applicable to the growth of the segment include the rapidly rising demand for multilayer silage film, as it is useful to protect the silage from UV radiation. The holding and stretching power of multilayer silage is greater than that of monolayer silage, and it can prevent the damage caused to silage by puncture, abrasion, and tearing. The shelf life of multilayer silage films is longer, and the requirement for storage space for silage is less as it squeezes the silage tight. Overall, as per projections, the multilayer silage films increase the yield of silage by nearly 30% while reducing waste production by ~70%. Moreover, the UV resistance of multilayer silage films is estimated to be more than 150 hours.
Global Silage Film, Segmentation by Application
A few of the well-known market leaders in the global silage film market that are profiled by Research Nester are The Dow Chemical Company, Coveries Management GmbH, Exxon Mobil Corporation, Groupe Barbier, BASF SE, RPC Group plc, Berry Global, Inc., Ball Corporation, RPC Group plc, Sonoco Products Company, and other key market players.
Recent Development in the Global Silage Film Market
- Coveries Management GmbH a provider of innovative, sustainable packaging solutions that protect and prolong product lifecycles collaborates with start-up Notpla to offer recyclable, biodegradable, and printed food cartons. Notpla shared its new award-winning barrier coating technology with Coveries Management GmbH for tackling the lack of kerbside and street recycling infrastructure.
- BASF SE a European multinational chemical company introduces product carbon footprints (PCFs) for its plastic additive customers. The company’s step forward is to aid customers to gain greenhouse gas emission reduction targets.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach to helping global industrial players, conglomerates, and executives for their future investments while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided the right guidance at the right time is available through strategic minds.
CONTACT: AJ Daniel Corporate Sales, USA Research Nester Email: firstname.lastname@example.org USA Phone: +1 646 586 9123 Europe Phone: +44 203 608 5919
- HII’s Ingalls Shipbuilding Christens Amphibious Assault Ship Bougainville (LHA 8) - December 2, 2023
- ROSEN, SKILLED INVESTOR COUNSEL, Encourages FMC Corporation Investors to Secure Counsel Before Important Deadline in Securities Class Action – FMC - December 2, 2023
- DG INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Files Class Action Lawsuit Against Dollar General Corporation and Announces Opportunity for Investors with Substantial Losses to Lead Class Action Lawsuit - December 2, 2023