Mulch Films Market Size Forecast to Reach $5.7 Billion by 2026

 Breaking News
  • No posts were found

Mulch Films Market Size Forecast to Reach $5.7 Billion by 2026

Mulch Films Market Size Forecast to Reach $5.7 Billion by 2026
Mulch Films Market
Increasing Demand for Agricultural Crops Driving the Growth of Mulch Films Market.

Mulch Films Market size is forecast to reach US$5.7 billion by 2026, after growing at a CAGR of 7.8% during 2021-2026. Mulch films are the plastic coverings designed for plants. These are designed to preserve the level of moisture in the soil. Due to evaporation, significant loss of soil moisture is observed that has raised the demand of mulch films among the agricultural areas. Also, to fulfill the need of food for growing population, demand for mulch films is increasing. Furthermore, increasing investments by various government bodies in agriculture is set to propel its market growth. For instance, The United States Department of Agriculture took an initiative – “The Agriculture and Food Research Initiative (AFRI)” to ensure food safety and security, enhance human nutrition, and train the next generation of the agricultural workforce. Therefore, these factors are influencing mulch films market growth.

Mulch Films Market Segment Analysis – By Type 

Color mulch film segment dominated the mulch films market in 2020, and is growing at a CAGR of 7.3% during forecast period 2021-2026, owning to the entail investment in additional manufacturing capacity. A farmer can influence the crop outcome by using different colors of mulch film. Some colors provide a significant benefit to a crop, while others provide a small benefit and still others possibly provide no benefit but add a significant amount to a grower’s cost. There are a number of other colors that appear and vanish over time. Some of these colors have merit in a regulated environment such as a laboratory. The most common color of plastic mulch film used today is black. It’s one of the cheapest to produce and can offer a lot of value to the grower. By absorbing and transmitting solar heat to the soil, black plastic mulch films may provide heat to the bed. By preventing light from reaching the soil, black mulch film may also help to minimize weed strain. Therefore, owning to these ben4efits its demand is increasing.

Mulch Films Market Segment Analysis – By Product Type

Non-biodegradable mulch films dominated the Mulch Films market in 2020 and is forecasted to grow at a CAGR of 7.7% during the forecast period. The rising usage of non-biodegradable mulch films in Europe is expected to fuel its market growth. Besides, this the recent research conducted by various research institutes is expected to flourish its market growth. For instance, researchers at Cornell University, Washington State University and University of Tennessee have shown that the biodegradable plastic mulches performed comparably to polyethylene mulch in controlling weeds, raising soil temperature and increasing crop yields despite some breakdown of biodegradable mulch during the growing season. Moreover, the biodegradable biobased mulch film is currently allowed under the National Organic Program regulation at 7 CFR 205.601(b) (2) (iii) for use as mulch in organic crop production with the annotation:”Must be produced without organisms or feedstock derived from excluded methods”. Hence, such policies are expected to fuel its market growth in the upcoming years.

Request for Sample Report @ https://www.industryarc.com/pdfdownload.php?id=505106

Report Price: $ 4500 (Single User License)

Mulch Films Market Segment Analysis – By Crops

Vegetables dominated the Mulch Films market in 2020 and is forecasted to grow at a CAGR of 8.2% during the forecast period. The increased use of Mulch Films in vegetable cultivation can be attributed to rising fresh vegetable production and fresh and frozen vegetable exports. Many farmers have been persuaded to use Mulch Films to maintain steady growth in vegetable production as a result of rising vegetable exports. According to the FAO, global vegetable production increased by 1.3 percent year on year (y-o-y) in 2017. ITC announced a 3.8 percent year-over-year rise in the volume of global fresh or chilled onion and shallot exports in 2018. Mulch films are mainly used for growing food and vegetable crops over extensive areas, much films offer the following advantages: Improved crop quality. 

Mulch Films Market Segment Analysis – By End Use

Agriculture segment dominated the mulch films market in 2020, and is growing at a CAGR of 7.8% during forecast period 2021-2026. Vegetables and Fruits together contribute to 72% demand for mulch films in 2020 with Vegetables holding 40% share. Agriculture is the major sector in the major regions North America, APAC and so on which leads to the market growth rate. With agriculture being the backbone of the North American economy, it provides an impetus for the mulch films market to grow. Crop output in North America increased by 10%, led by maize and soybeans. Owing to large population and income increases, expanding urbanization, and dietary changes, food demand in China & India is expected to increase significantly in the coming decades. According to the World of Organic Agriculture Statistics, there are more than 2.7 million organic producers globally, with India having the maximum share 835,00 farmers. The increasing demand for food due to the rising population followed by the limited availability of cultivable land enhances the growth of the Mulch Films market in India.

Mulch Films Market Segment Analysis – By Geography 

APAC dominated the market with a share of 48% in 2020, and is growing at a CAGR of 8.6% during forecast period 2021-2026, owing to the increasing investments on agricultural activities in the region. The government of various countries are spending heavily on initiatives and investments in the field of agriculture. For instance, in 2016, according to China’s Ministry of Agriculture, over 1,300 Chinese enterprises had overseas investments in agriculture, forestry, and fisheries valued at $26 billion. The total quantum of private investment in India is projected to increase (with added investment of Rs. 78,424 crore) from Rs. 61,000 crores in 2015-16 to Rs. 139,424 crores by 2022-23. The Indian government introduced Pradhan Mantri Samman Nidhi Yojana under Budget 2019-20, in which a minimum fixed pension of Rs 3000 (US$ 42.92) is to be provided to the eligible small and marginal farmers, on attaining the age of 60 years. Thus, such government initiatives are increasing the demand of agricultural crops which is further influencing mulch films demand.

Mulch Films Market Drivers

Increasing Governments Initiatives

Due to heavy pressure of population in underdeveloped and developing countries and its rapid increase, the demand for food is increasing at a fast rate owing to which the governments are spending heavily on initiatives and investments in the field of agriculture. For instance, in 2020, the Canadian government invested a total of $560,000 on the Canadian Federation of Agriculture (CFA) to develop the Canadian Agri-Food Sustainability Initiative. The Indian government funded a total of US$ 1.66 billion to 558 deals in between 2013-17 to agrifood start-ups in India. The 2010- 2013 National Strategy for France’s Sustainable Development aimed to develop a more sustainable food production and support green economy and business innovation, and during the tenure it achieved a higher domestic organic production and consumption. Thus, due to the various initiatives by the government the agricultural production is also increasing in various regions, which acts as a driver for the mulch films market during the forecast period.

Increasing Demand for Agricultural Crops

With rise in population and per capita income of individuals, the demand for agricultural crops will also increase. The United Nations Department of Economic and Social Affairs, estimated the world’s population to increase by 2 billion persons in the next 30 years, i.e. from 7.7 billion currently to 9.7 billion in 2050, and per capita income is projected to grow in nearly all the world’s regions. For a 10-percent rise in global population, total crop consumption and production is projected to increase by almost 10 percent and for a 10-percent rise in global per capita income, consumption and production of major crops is anticipated to increase by about 3 percent. Also, according to India brand Equity Foundation, agriculture is the primary source of livelihood for about 58 per cent of India’s population. During 2018-19 crop years, food grain production was estimated at record 283.37 million tons. In 2019-20, Government of India targeted the food grain production of 291.1 million tones. Thus, the increasing supply and demand of agricultural crop acts as a driver for the mulch films market.

Mulch Films Market Challenges

High Cost of Mulching Film

High prices of mulching film such as silver and black mulching film is set to hamper its market growth in the upcoming years. For instance, average selling of silver & black mulching film ranges from $1.96/kg. Hence, owing to its high cost the low and middle income farmers are unable to purchase it which in turn is expected to restrain its market growth over the forecast period 2021-2026. Moreover, rise in Covid 19 cases caused reduced access to inputs and services, labor movement, transport and road blocks and eventually causing a disrupt in the supply chain of mulch film thereby increasing its price and restraining its market growth. The COVID-19 pandemic is expected to create a further rise in the price of Mulch Films owing to temporary shutdown of production facilities which caused increase in price as the import, export and storage of mulch film has decreased.

Mulch Films Market Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Mulch Films Market. The key players in the Mulch Films Market includes BASF SE, The Dow Chemical Company, Berry Global Inc., Novamont S.p.A., RKW Group, among others.

Relevant Reports

A. Herbicides Market

https://www.industryarc.com/Report/15124/herbicides-market.html

B. Organic Farming Market

https://www.industryarc.com/Report/18141/organic-farming-market.html

For more Agriculture Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/


Warning: count(): Parameter must be an array or an object that implements Countable in /home/atlantanewsonlin/public_html/news.augustaheadlines.com/wp-content/themes/legatus-theme/includes/single/post-tags.php on line 5
Share

Categories