Agro Textiles Market
The global agro
textiles market size is projected to reach USD
13,458.7 million by 2027, exhibiting a CAGR of 5.2% during
the forecast period. Rising concerns surrounding food security across the globe
will be a key growth propeller for this market, states Fortune Business Insights™
in its report, titled “Agro Textiles Market Size, Share & Industry
Analysis, By Product (Shade Nets, Mulch Nets, Fishing Nets, Anti-Hail &
Bird Protection, and Others), By Application (Agriculture, Aquaculture,
Horticulture & Floriculture, and Others), and Regional Forecast, 2020-2027”.
According to the Food and Agriculture Organization (FAO) of the UN, around 9.2%
of the global population suffered from acute food insecurity and 17.2%
experienced moderate food insecurity in 2018. The intensity of food insecurity
is likely to get heightened with rapid growth in global population, which is
forecasted to reach 9.7 billion by 2050, as per data from the World Bank. In
such a situation, the need for improved agricultural productivity is dire and
technologies such as agro textiles will play an instrumental role in meeting
the challenge of food security in the coming decades, thereby boosting the
growth of this market.
Speedy Expansion of Urban Areas to
Stimulate Market Growth
The Department of Economic and Social
Affairs of the UN estimates that urban population around the world will sharply
rise from the current 55% to 70% by 2050, amounting to an addition of 2.5
billion people in these areas. Urban spaces are characterized by hectic
lifestyles, sedentary habits, pollution, and overconsumption of unhealthy
foods. As a result, the demand for organic and naturally-derived snacks is
increasing in these areas, reflecting a marked change in consumption trends
around the world. Agro textiles such as capillary mats and mulch nets are
witnessing steadily climbing demand as farmers struggle to increase their
agriculture yield to meet the high food demand in urban sprawls. Moreover, the
agro textiles market growth is being further accelerated by supportive
government policies, especially in developing countries, promoting sustainable
agriculture practices and use of modern technologies to improve productivity in
agriculture.
Regional Analysis
High Reliance on Agriculture to Augment
the Market in Asia-Pacific
Asia-Pacific is set to lead the agro
textiles market share during the forecast period, with the region boasting a
market size of USD 3,302.9 million in 2019. The main reason for the region’s
preeminent position in the market is the excessive reliance of the developing
economies of India and China on agriculture. Added to this is the high
population of these and other countries in the region, which has exacerbated
the need for greater agriculture productivity. As a result, the demand new-age
materials and tools such as agro textiles in the farming sector are expected to
soar in the forthcoming years.
Rapid advancements in aquaculture
farming is anticipated to propel the market in North America, while the market
in Europe is slated for steady expansion on account of increasing preference
for bio-based agricultural textiles in the region.
Competitive Analysis
Introduction of Advanced Products and
Solutions to be the Central Focus for Companies
Key players in this market are
injecting money into their R&D divisions to speed up the development of
next-gen products and solutions to keep up with the changing dynamics of the
agriculture sector. These product launches are also aiding companies to
strengthen their portfolio of solutions and entrench their position in the
market.
Browse Summary of This Research Report
with Detailed Table of Content: https://www.fortunebusinessinsights.com/agro-textiles-market-102963
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