Silo Bags Market
Silo Bags Market (Length Type: 60 Meters, 75 Meters, and 90 Meters; Material: Polyethylene [PE] and Polypropylene [PP]; Application: Grain Storage, Forages Storage, Fertilizers Storage, Dried Fruits Storage, and Others) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026
COVID-19 Contagion Prevention Training Helps Manufacturers Maintain Steady Supply Chains
As the COVID-19 (coronavirus) outbreak sweeps across the world, companies in the agriculture industry are increasing efforts to strengthen their supply chains. They are keeping their employees and consumers safe, whilst providing the necessary equipment, commodities, and services. Likewise, companies in the silo bags market are adopting robust sanitization measures to keep packaging units away from the exposure of the virus. Symaga— a manufacturer of industrial silos, is complying with government instructions to conduct factory operations and business activities in offices.
Companies in the silo bags market are working in full capacity in countries of China, Japan, Australia, and South Korea to revive market growth since the pandemic has drastically subsided in these regions. Employees are receiving hygiene and contagion prevention training to avoid exposure to the virus.
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Proliferation of IoT in Agroindustry Bolsters Market Growth
The silo bags market is expected to expand at a growth of 6% during the assessment period. With the proliferation of IoT (Internet of Things) in the agricultural industry, producers are harnessing the advantages of the technology. For instance, Wiagro— a provider of wireless solutions for agriculture, is manufacturing smart silo bags that facilitate real-time monitoring of grains inside the bag with the help of the IoT technology.
Blockchain-based traceability platforms are bringing a significant change in the silo bags market. These platforms help in efficient transportation and reduce food losses worldwide. Moreover, producers are able to access information regarding food grains from remote locations through online capabilities. Blockchain-based traceability platforms are helping producers to store information that plays a key role in post-harvest storage processes. Thus, the blockchain technology is ensuring reliability in grain quality.
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Silo Bags or Gunny Bags: Which Are Better?
Silo bags are a more cost-efficient solution as compared to gunny bags for grain storage. However, limited unitary capacity of silo bags and the need for large land area for storage are some of its disadvantages. As such, silo bags can be stored under optimal conditions and this advantage is helping manufacturers in the silo bags market to increase unit uptake.
Apart from grain storage, companies in the silo bags market are expanding their business in composting applications. Proper management of organic waste is an indispensable part of farming and harvesting activities. Farmers are increasingly using silo bags for proper management of organic waste. Silo bags are eliminating concerns regarding liquid spills and undesirable odors. The growing demand for closed composting systems has led to increased sales of silo bags.
Food Security and Demand for Good Grain Quality Creating Business Opportunities
The silo bags market is projected to witness a Y-o-Y growth during the forecast period. Cutting-edge silo loading systems are contributing toward market growth. Lorandi Silos— a specialist in material handling and storage, is manufacturing robust silo loading systems that can be moved by forklift for loading applications at multiple locations.
The increasing world population has stressed the importance of food security. This can be achieved with silo bags that help to maintain the quality of grains. With increasing yields in the upcoming years, manufacturers in the silo bags market need to boost their output capacities in order to safely distribute food grains worldwide. Due to the growing demand for good grain quality, producers are looking for ways to optimize their storage facilities.
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The COVID-19 pandemic has caused supply chain disruptions, but food producers are adopting social distancing measures while loading and unloading trucks and containers. Handling, grading, and packaging needs are being undertaken by food producers with the help of silo bags to ensure food security. The silo bags market is advancing with the proliferation of IoT and blockchain technologies. However, silo bags are subject to frequent breakage of the plastic film, which leads to rodent attacks and food losses. Hence, companies should educate food producers to optimize their storage practices in order to avoid food wastage. Cutting-edge silo loading systems are being mobilized in multiple storage locations.
Silo Bags Market: Overview
- According to Transparency Market Research’s latest report on the global silo bags market for the forecast period of 2020-2026, the market is estimated to be propelled due to their advantage of simplifying harvest logistics by providing flexible storage at a suitable location especially when permanent storage is a constraint
- The global silo bags market is expected to grow at a CAGR of 6% during the forecast period. Silo bags are an easy means for on-farm segregation of commodities, thereby providing identity preservation, which is likely to augment the expansion of silo bags market in the years to come.
Cost-Effectiveness Anticipated to Drive Sales of Silo Bags
- Silo bags are a temporary on-farm storage facility that are an enticing alternative to full-size warehouses. Silo bags can stock grain, forage, and other agricultural produce at the farm itself, allowing cost savings for small farmers in terms of storage facilities and harvest logistics
- Animal feed and other fodder have to be stowed securely to fulfil shortages that may arise during dry spells or seasons. Investing in permanent facilities is naturally expensive and can scarcely be afforded by small scale farmers, particularly in emerging economies, making it unsurprising that silo bags are the preferred choice for farmers with smaller levels of agricultural produce.
- Conventional steel bins or other permanent structures such as silos cannot be erected on short notice and need high initial cost compared to silo bags. This makes silo bags one of preferred alternatives that farmers will most likely consider.
Stringent Environmental Norms and Regulations a Challenge in Silo Bags Market
- The world has slowly begun its economic recovery after the devastating recession of 2008 -09 and this has posed a challenge to unencumbered growth in the silo bags market. A number of countries have laid down guidelines pertaining to the use of harmful chemical substances. Silo bags are often made of polypropylene and polyethylene that adversely affect the natural environment.
- Guidelines from organizations such as the U.S. FDA are fairly onerous and have norms for a specific silo bag thickness, length, and breadth. Farmers have begun to look at environment-friendly options in lieu of silo bags and companies will have to innovate with eco-friendly packaging materials to convince their customers about the recyclability and green credentials of silo bags.
Silo Bags Market: Key Findings
- Among length types, 75 meters segment is estimated to account for more than 2/5th of the revenue share by the end of 2020 and is likely to create an incremental opportunity of more than US$ 160 Mn by the end of next five forecast years
- Among material types, Polyethylene (PE) silo bags segment is expected to expand at a CAGR of 6.7%. The segment is anticipated to account for more than 4/5th of the market share by value by the end of the forecast period.
- Grain storage segment, among other applications, is estimated to account for more than 2/3rd market share by revenue by the end of the year 2020
- Forages storage silo bags segment is expected to expand at a CAGR of 6.7% and is projected to create absolute $ opportunity of more than US$ 60 Mn by the end of 2026
- In terms of market share, North America is likely to emerge as the dominating region in the global silo bags market, owing to the increasing demand for silo bags for affordable packaging and long-term storage
Silo Bags Market: Competition Landscape
- TMR analysed that the global silo bags market is highly competitive, owing to large number of local players in the market. This competition among key players is carefully studied based on developments, strategies, and segmental revenue of the company over the past five years.
- TMR group includes outlines of key players in the latest silo bags market study, which includes
- RKW SE
- Panama Group
- RPC Group Plc
- Ipesa - Rio Chico S.A
- Grainpro Inc.
- Plastar S.A
- Canadian Tarpaulin Manufacturer
- Up North Plastics Inc.
- Plastika Kritis S.A.
- TMR distinguished these silo bags market players as per their segmental earnings into different tier slabs. Among these players, RKW SE, Up North Plastics Inc., and RPC Group Plc are identified as Tier 1 companies. The Tier 2 players includes Ipesa - Rio Chico S.A., Grainpro, Inc, Panama Group, Plastar S.A., and Canadian Tarpaulin Manufacturer.
COVID–19 to Create New Opportunities for Silo Bags Market
- The COVID-19 pandemic has intensified challenges that agriculture faces. The increased need for food security was one of the important concerns for nations across the globe.
- Disruptions in the global supply chains have further highlighted the importance of having more local providers, which could increase the resilience of smaller farms and boost sustainable sourcing of farm produces.
- Food & beverages and healthcare are some of the sectors, which did not witness decline in demand, as consumers demanded the same amount of food products or pharmaceuticals in spite of the pandemic. However, dramatic decline in the demand from food service, restaurants, and institutions was witnessed.
- This shows a concern that consumers will spend less in the coming months, as the economy slows and unemployment worsens. It also reflects worries about food security and slowdown in agro-allied industries.
- Many farmers depend on local markets for most of their sales. With restaurant business severely cut, farmers who sell harvest and produce directly to restaurants are more dependent on direct-to-consumer sales which might result in spoilage of harvests.
- Silo bags are excellent for maintaining grain moisture in storage when a hermetic (air-tight) environment is maintained. This would preserve the harvest consumable for a longer duration.
- For the global food system to be secured, more food grain must be produced and less must be lost post-harvest and wasted before consumption. This is likely to create opportunities for silo bags market to grow as they are cost effective and serve their purpose well.
Silo Bags Market – Scope of the Report
Transparency Market Research (TMR) started a new study on the global silo bags market, providing forecast for the period of 2020-2026. In the study, growth opportunity for the silo bags market is witnessed. The report provides valuable insights, which enable readers to make winning business decisions for future growth of their businesses. The report highlights significant factors that are constantly determining the growth of the silo bags market, untapped opportunities for manufacturers, trends and developments, and other insights across various key segments. Macroeconomic factors that are directly or indirectly affecting market growth are also incorporated in the report.
Key Questions Answered in TMR’s Silo Bags Market Report
- What will be the impact of COVID-19 on silo bags market?
- Which application will be the most lucrative for silo bags?
- What will be market size for silo bags by the end of 2026?
- Which is the most preferred material type for silo bags in the global market?
- Which region will remain most lucrative for market growth?
- Which are the top five countries of silo bags market?
- Which length type holds maximum share of the global silo bags market?
- Who are major key players in the silo bags market?
Key indicators associated with the silo bags market have been calculated thoroughly in the report. The study enumerates vital market dynamics such as key drivers, challenges, and trends, along with opportunities in the global silo bags market. A comprehensive study on the value chain, which includes component suppliers, manufacturers, distributors, and end users have been incorporated in the global market report. Other key aspects laid down in the market include pricing strategy of leading market players and comparative analysis of silo bags. Furthermore, forecast factors and forecast scenarios of the silo bags market have been covered in the report to understand future prospects of the market.
A comprehensive evaluation and forecast on the silo bags market are provided on the basis of length type, material type, application, and region.
Y-o-Y growth comparison, volume and revenue comparison, and market share comparison of various market segments are provided in the report. The silo bags market is analyzed at both regional and country levels.
The report delivers an exhaustive assessment on the structure of the silo bags market, in tandem with a dashboard view of all leading company profiles in the report. Every company’s share analysis on market players have also been presented in the report, apart from the footprint matrix of profiled market players. The report depicts the presence of silo bags manufacturers by leveraging an intensity map. It also highlights key end users for silo bags.
The report includes company overview of key players. Some of the key companies profiled in the silo bags market report include RKW SE, Panama Group, RPC Group Plc, Ipesa - Rio Chico S.A, Grainpro, Inc, Plastar S.A, Canadian Tarpaulin Manufacturer, Up North Plastics Inc., and Plastika Kritis S.A.
A realistic methodology, along with a holistic approach makes the base for sharp insights, which are provided in the silo bags market for the study evaluation period. The TMR report comprises of detailed information on growth prospects, along with riveting insights into the forecast assessment of the market.
Extensive primary and secondary researches have been employed to garner keen insights into the forecast study of the silo bags market. The report has further undergone a cross-validation by in-house professionals to make the silo bags market report one-of-its-kind, with the highest credibility.
Silo Bags Market – Segmentation
The global silo bags market has been divided on the basis of length type, material type, application, and region. Each of these segments have been analyzed to provide readers with the holistic view of the market.