Silage Film Market Trends

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.

• Growing Production of Silage to Boost Market Growth - 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 com were produced in the USA in 2021-22, meanwhile, the consumption of com 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