SAN FRANCISCO, Feb. 9, 2021 /PRNewswire/ -- The global agro textiles market size is expected to reach USD 13.04 billion by 2028 registering a CAGR of 4.7%, according to a new report by Grand View Research, Inc. Commercialization of bio-based agricultural films coupled with rising global farming standards and technological advancements are expected to drive the market over the forecast period. Increasing demand for organic products due to changing consumer lifestyles and the increased significance of agro textile in various applications is projected to drive the market.
Key suggestions from the report:
- The fishing nets product segment is expected to witness the fastest CAGR from 2021 to 2028 on account of rising demand for these nets as a result of significant use of fish and associated products in the food, skincare, and other industries
- Aquaculture was the dominant application segment in 2020 and is expected to reach USD 7.89 billion by 2028 owing to the rise in aquafarming activities
- Asia Pacific is estimated to witness the fastest CAGR, in terms of revenue, from 2021 to 2028
- This growth can be credited to the surge in demand for high-quality agriculture products and increasing awareness & adoption of advanced materials and tools in the agriculture sector
- The market in China is estimated to witness significant growth over the forecast period on account of advancements in the sector, which boost product demand
- The prominent manufacturers emphasize the advancement and innovation through extensive R&D. Key players have achieved integration among the value chain to strengthen their market positions
Read 110 page research report with ToC on "Agro Textiles Market Size, Share & Trends Analysis Report By Product (Shade-nets, Mulch-mats, Fishing Nets), By Application (Agriculture, Aquaculture, Horticulture & Floriculture), By Region, And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/agro-textiles-market
Moreover, the high demand for food supply due to the growing population exerts pressure on crop production resulting in the rising need for high-quality products. Thus, technological advancements and significant R&D investments for the development of novel products and applications offer ample growth opportunities to the market.
However, fluctuations in the raw material prices, higher production costs, and a high degree of complexity in the manufacturing processes are expected to hinder the market growth. The industry is highly fragmented and competitive with several multinational companies controlling a significant market share. The overall market had witnessed a large backdrop due to the COVID-19 pandemic and its associated effects are projected to restrain the market growth to some extent.
Grand View Research has segmented the global agro textiles market on the basis of product, application, and region:
- Agro Textiles Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Shade-nets
- Mulch-mats
- Anti-hail Nets and Bird Protection Nets
- Fishing Nets
- Others
- Agro Textiles Application Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Agriculture
- Horticulture & Floriculture
- Aquaculture
- Others
- Agro Textiles Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Indonesia
- Central & South America
- Middle East & Africa
List of Key Players of Agro Textiles Market
- Beaulieu Technical Textiles
- Belton Industries, Inc.
- Meyabond Industry & Trading (Beijing) Co. Ltd.
- Capatex Ltd.
- Neo Corp International Ltd.
- Diatex
- Hy-Tex (U.K.) Ltd.
- Zhongshan Hongjun Nonwovens Co. Ltd.
- SRF Ltd.
- Tama Plastic Industry
- Hebei Aining Import and Export Co. Ltd.
- B&V Agro Irrigation Co.
Find more research reports on Smart Textiles Industry, by Grand View Research:
- Protective Textiles Market – The global protective textiles market size is expected to reach USD 7.78 billion by 2025. The market is expected to witness growth at 3.4% CAGR owing to increasing industrial fatalities in developing economies owing to the lack of protective gear coupled with growing awareness of worker's health and safety are expected to drive the market growth.
- Aquaculture Market – Rising awareness among consumers pertaining to various health benefits offered by seafood is expected to drive global market demand over the forecast period. Increased deep sea fishing activities globally have resulted in limited availability of fresh fish thus fuelling demand for cultured varieties.
- Nylon Monofilament Market – Growing nylon monofilament application development in the medical industry is also expected to have a positive impact on market growth over the forecast period. The threat of substitutes from other polymers such as PVDF and polypropylene is expected to remain a key challenge for market participants over the next six years.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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