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Silage Film Market

Analysis by Type (LLDPE, LDPE, HDPE, EVA/EBA, and Other); by Film Type (Monolayer and Multilayer); and by Application (Corn, Grasses, Vegetables, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4395 | Published On: Feb 16, 2023
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Global Silage Film Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global silage film market is estimated to garner a revenue of ~USD 4 Billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. The growth of the market can be attributed to the skyrocketing livestock population across the globe. For instance, the number estimated for cattle in 2018 was nearly 950 million head which was projected to reach approximately 1000 million head in 2022. The increasing population across the world rises the demand for dairy, and dairy products. The increasing number of meat eaters around the world is also estimated to boost market growth. Meat is high in protein compared to other foods; thus, it is included in almost every nonvegetarian diet chart. The rising number of egg consumers and the use of eggs in various dishes as binding, clarifying, aerating, thickening, and glazing agents are also driving the market.

Silage-Film-Market-scope.jpg	 Global silage film market trends such as the growing need for permanent pasture and increasing demand for silage wrap films worldwide are projected to influence the growth of the market positively over the forecast period. As of 2022, only 250,000 hectares of land were being used as permanent pastures in the UK which is expected to witness a decrease over the decade. Silage films are highly utilized by farmers to preserve maize, silage, and hay. Silage films are helpful to keep the nutritional values of the product wrapped in them. Hence, such utilization is anticipated to push the market growth over the forecast period. The growing agricultural land is inversely increasing the demand for livestock. Livestock such as ox is used in farming and irrigation to plow, sow, pull stones, carts, and run machinery. Livestock animals are widely used to get milk, eggs, meat, and wool. 


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Global Silage Film Market: Key Insights
cscs

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

~ USD 2 Billion

Forecast Year Market Size (2033)

~ USD 4 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)


Global Silage Film Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Requirement for Animal Food with Rising Live Stock - For instance, more than 5500 facilities solely in the United States are projected to produce nearly 250 million tons of animal food every year. Silage films are commonly used to prevent hay and maize from rotting away for a long time. The animal food such as grass and crops are gathered in round or square bales and then these bales are covered with silage films. Silage films are quite useful for keeping the hay from extreme weather conditions

  • Growing Production of Silage to Boost Market Growth and Meet the Demand - As of 2021, nearly 100 million tons of corn for silage were produced solely in the United States.

  • Increasing Consumption and Production of Corn by People Around the World - For instance, about 350 million metric tons of corn were produced in the USA in 2021-22, meanwhile, the consumption of corn was projected to be nearly 10 billion bushels in a similar period.

  • Growth in the Government Revenue Expenditure on Animal Husbandry - In 2018, the central and state government of India spent nearly 145 billion Indian rupees on animal husbandry.

Challenges

  • Presence of Alternatives in the Market - Silage films are made of plastic which on decomposition leaves a trace of plastic in the soil. This will affect the soil and cause environmental pollution damaging the properties of the soil. There are other biodegradable film alternatives for silage film which include organic materials. This is the reason for the limited growth of the market during the forecast period.
  • Requirement for Higher Initial Investment
  • Disrupted Supply-Chain due to COVID-19


Global Silage Film Market Segmentation

The global silage film market is segmented and analyzed for demand and supply by type into LLDPE, LDPE, HDPE, EVA/EBA, and others, out of which, the HDPE segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the growing demand for high-density polyethylene. For instance, the production of HDPE was anticipated to be approximately USD 65 million metric tons in 2022. The HDPE silage film is recyclable and environmentally friendly which increases the demand for market growth. People are preferring to buy products that are environmentally friendly to reduce the damage caused by greenhouse gases. Also, these films should not contain any non-degradable material as it is hard to decompose into the soil. The cost-effectiveness, mini gas permeability, UV resistance, tear, and puncture resistant, and high stretch ability properties of HDPE are estimated to drive the market growth thereby increasing the growth of the market as per the market analysis.

The global silage film market is also segmented and analyzed for demand and supply by film type into monolayer and multilayer. Amongst these two segments, the multilayer segment is expected to garner a significant share. The silage film made of more than one layer is referred to as a multilayer silage film. The multilayer silage is useful to protect the silage from UV radiation. It also prevents damage from puncture, abrasion, and tearing. The holding and stretching power for multilayer silage are more than for monolayer silage. It can also reduce the storage space by squeezing the silage tight. The operational cost is also very less as the shelf life of multilayer silage films is more. The adherence properties protect the roll with a well-packaged form. The multilayer silage films are estimated to increase the yield of silage by 30% by reducing waste production by 70%. Also, it is tested that the UV resistance of multilayer silage films was over 150 hours.

Our in-depth analysis of the global silage film market includes the following segments:

                By Type

  • LLDPE
  • LDPE
  • HDPE
  • EVA/EBA
  • Other

               By Film Type

  • Monolayer
  • Multilayer

               By Application

  • Corn
  • Grasses
  • Vegetables
  • Others

 


Global Silage Film Market Regional Synopsis

The North American silage film market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033. The growth of the market in the region can be ascribed to the significant expansion in agricultural land. For instance, as of 2019, around 50% of the agricultural land was utilized for arable land crops. Furthermore, ongoing technological advances in the region are also estimated to push the market growth in the region over the forecast period. The rising land of agriculture is increasing the demand for organic food. People are getting more concerned about their health which is rising the demand for organic farms across the region. Organic foods are grown naturally without any harmful chemicals. The increasing number of diseases among people as well as increasing health awareness is estimated to boost the demand for market growth during the forecast period. All these factors increase agricultural production and the need for silage films.

The Asia Pacific region silage film market is second to garner the largest market share in the coming years. The rising local production of raw materials in the region decreases the dependency on other regions and the growing agricultural importance is expected to improve the growth of the market. The increasing production of UV-resistant silage films prevents damage even when the silage is left in the sun for longer periods. The silage is usually left in the open outdoors as it occupies so much storage space. There is a need to store the silage as animal feed is only in the harvesting season. Silage films are used in farmlands where maize, hay, and forage are highly available and stored. It is observed that in 2019 the Asia region produced about one-third of the maize produced across the world.

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Silage-Film-Market-Region.
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Top Featured Companies Dominating the Global Silage Film Market

    • The Dow Chemical Company
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Coveries Management GmbH
    • Exxon Mobil Corporation
    • Groupe Barbier
    • BASF SE
    • RPC Group plc
    • Berry Global, Inc.
    • Ball Corporation
    • RPC Group plc
    • Sonoco Products Company

     

     


In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the silage film market?

Ans: Rising requirements for animal food and increasing consumption and production of corn are the major factors driving the market growth.

2) What would be the CAGR of silage film market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the silage film market growth?

Ans: The presence of alternatives in the market and the requirement for higher initial investment is estimated to be the growth-hindering factors for the market expansion.

4) Which region will provide more business opportunities for growth of silage film market in future?

Ans: The market in the North America region is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the silage film market?

Ans: The major players in the market are 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 others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the silage film market?

Ans: The market is segmented by type, film type, application, and by region.

8) Which segment captures the largest market size in the type segment in the silage film market?

Ans: The HDPE segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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