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Pharmacy benefit management market
REPORT OVERVIEW
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The global agricultural grow bags market size was USD 219 million in 2022. As per our research, the market is projected to touch USD 314 million by 2028, exhibiting a CAGR of 6.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
An agricultural grow bag is a sort of impermeable bag used to preserve agricultural crops. The use of an agricultural grow bag has the benefit of keeping the product fresh and free of pests and diseases. Irrigation facilities have experienced significant technological advances for enhanced crop productivity during the previous few decades. Furthermore, water scarcity is a major concern related with irrigation infrastructure all over the world. Implementing agricultural grow bags is a solution to these problems.
COVID-19 Impact: The COVID-19 Underlying Condition Disrupted the Supply and Downgraded the Market Growth
The COVID-19 pandemic expanded throughout North America, particularly the United States. Globally, the country has been hit the hardest by the pandemic. During the COVID-19 scenario, agriculture and food production have been highlighted as crucial areas. The most major factor affecting the agricultural grow bags market is supply chain disruption. Additionally, logistics concerns have impacted the supply of containers and vessels, as well as the shipment of specific micro-ingredients. However, because to the pandemic, food shortages in supermarkets and delays in the food supply chain spurred agricultural activity in the region. Furthermore, after the restrictions are relaxed, demand for agricultural grow sacks is projected to increase.
LATEST TRENDS
"Growing Popularity of Fabric Grow Bags is the Primary Trend Driving Market Growth "
Growing plants in a container, such as a plastic pot, can cause the roots to form a ring. Girdled roots are created by a strong plastic coating that limits the free flow of air and hinders roots from growing freely. For plants to grow properly, roots must grow downward or laterally. When roots strike the plastic walls of a pot, they tend to form a circular pattern rather than developing downwards as is natural. The girdling of roots in this manner causes structural harm to the plants; growth is hampered since the plant's stem becomes constricted. Another reason for the widespread use of fabric agricultural grow bags is that they are often less expensive than alternative containers such as pots.
SEGMENTATION
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- By Type
Based on type the agricultural grow bags market is classified into upright, horizontal and others.
The upright is the leading part of the type segment.
- By Application
Based on application the agricultural grow bags market is classified as fruits & vegetables, commercial crops and others.
The fruits & vegetables is the leading part of the application segment.
DRIVING FACTORS
"The Advent of Double Layered Bags Are Notably Driving the Market Growth"
Double-layered agricultural grow bags have two layers of growing medium, one with coir and the other with chips. The coir layer enables for horizontal root expansion, while the chips layer allows for greater drainage. When compared to other growing substrates such as rock wool, the combination of cocoa coir on top and coco chips on the bottom is more effective at eliminating excess water and permitting air retention. Since the launch of these bags, the use of cocoa as a substrate material for agricultural grow bags has expanded. The fact that Dutch Plantin had to expand its production capacity with an extra factory to fulfil demand reflects the increased popularity of double-layer agricultural grow bags.
"Rising Prevalence of Drip Irrigation System to Drive Up the Market Demand "
The growing population drives up demand for agricultural products, which drives up demand for agricultural commodities grown with limited resources. Demand for worldwide drip irrigation systems is predicted to be driven by the potential of drip irrigation systems to give higher output with limited water availability over the forecast period. Furthermore, governments around the world are taking the lead in encouraging the adoption of drip irrigation systems by giving subsidies in various regions. Over the projected period, increased agricultural activity in emerging economies such as India and Brazil is predicted to fuel demand for drip irrigation systems.
RESTRAINING FACTORS
"Lack of Competent Organisation and Government Policies a""re Major Challenges Impeding Market Grow"th
In greenhouses, agricultural grow bags have a two-year average lifespan. The lifespan is even shorter in open places. Agricultural grow sacks are discarded when their useful life has expired, and they pose possible environmental risks. Plastic bags are made of polythene, polyvinyl chloride (PVC), and polypropylene. These polymers are non-biodegradable and lead to pollution in the environment. Agricultural grow sacks have a two-year average lifespan in greenhouses. In open places, the lifespan is even shorter. The agricultural grow sacks are discarded once their useful life has finished, highlighting potential environmental hazards. These elements could limit the agricultural grow bags market growth throughout the anticipated timeframe.
REGIONAL INSIGHTS
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"Asia Pacific to Dominate the Market with Rising Population and Agricultural Activities"
In terms of revenue, Asia Pacific dominated the in 2019, accounting for almost half of the agricultural grow bags market share. The area is predicted to increase significantly in the projected period as a result of rising food production demand and growing farmer awareness of crop protection products in countries such as China, India, and Japan. The Asia Pacific region's expanding population will drive up demand for food items. Polypropylene bags are used by agricultural growers as an alternate method of planting crops because they improve soil aeration and drainage, resulting in higher crop output. Thus, increased population is likely to propel the agricultural to grow bag sales market throughout the predicted year.
KEY INDUSTRY PLAYERS
"Prominent Manufacturers to Contribute Towards Expansion of Market"
The worldwide market is quite fragmented due to the presence of numerous companies. In order to generate large revenues in the ensuing years, numerous businesses are engaging in big alliances and merger and acquisition plans. Other competitors are spending a lot of money and concentrating on expanding their geographic reach in order to compete well in the entire market.
List of Market Players Profiled
- Grow Organic (U.S.A)
- Cape Agricultural Products (South Africa)
- Imerys (France)
- Dutch Plantin (The Netherlands)
- FibreDust (Mexico)
- Greenyard (U.S.A)
- Laizhou Guoliang Packing Products (China)
- WHS Australia (Australia)
- FarmTek (U.S.A).
REPORT COVERAGE
The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 219.4 Million in 2022 |
Market Size Value By |
US$ 314.9 Million by 2028 |
Growth Rate |
CAGR of 6.2% from 2022 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the agricultural grow bags market expected to touch by 2028?
The global agricultural grow bags market is expected to reach USD 314.9 million by 2028.
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What CAGR is the agricultural grow bags market expected to exhibit by 2028?
The agricultural grow bags market is expected to exhibit a CAGR of 6.2% by 2028.
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Which are the driving factors of the agricultural grow bags market?
The advent of double layered bags and rising prevalence of drip irrigation systems are the driving factors of the agricultural grow bags market.
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Which are the top companies operating in the agricultural grow bags market?
Grow Organic, Cape Agricultural Products, Imerys, Dutch Plantin, FibreDust, Greenyard, Laizhou Guoliang Packing Products, WHS Australia, FarmTek and others are the top companies operating in the agricultural grow bags market