Agro Textiles Market to Grow at 5.2% CAGR till 2027; Rapid Growth in the Fishing Industry to Prove Beneficial for Market Expansion

The global agro textiles market size is projected to reach USD 13,458.7 million by 2027 on account of consistent rise in world population and the subsequent increase in pressure on agricultural activities. Fortune Business Insights™ provides this information in its new 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”.  As per the report, the market value stood at USD 9,612.8 million in 2019 and is expected to exhibit a CAGR of 5.2% from 2020 to 2027. Furthermore, the market growth is likely to spike in 2020 owing to the outbreak of the COVID-19 pandemic, resulting in a lower CAGR from 2020 to 2027.

India to Go Ahead with the Implementation of Its Ambitious National Technical Textiles Mission

With the aim of enlarging the domestic textiles market to USD 50 billion by 2024, in February 2020, the Government of India approved the National Technical Textiles Mission (NTTM) with an outlay of INR 1,480 crore. In March 2020, the textiles ministry announced that the ambitious NTTM will be implemented through a 3-tier mechanism, encompassing financial, scientific, technological, and research aspects of the mission. A sub-component of the mission will be dedicated to researching and developing bio-degradable technical textile materials and solutions for agro, geo, and medical textiles. Moreover, research will also directed towards developing solutions for disposing of used technical textiles in an ecologically sustainable manner. Thus, such strong, government-funded programs for textiles in various categories are expected to bode well for the agro textiles market growth during the forecast period.  

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https://www.fortunebusinessinsights.com/agro-textiles-market-102963  

Increasing Adoption of Plastic Shade Nets to Boost the Market

Polypropylene and other plastic shade nets are gaining popularity among farmers owing to their wide range of benefits and applicability. For example, since plastic meshes are lightweight, have uniform openings, and are low cost, they are being increasingly utilized for vegetables and plants in nurseries and greenhouses. Another benefit of these agro textiles is their ability to facilitate uniform air flow and shadow to plants, thereby ensuring their proper growth and yield for the agriculturist. Furthermore, High Density Polyethylene (HDPE) nets are considered ideal for greenhouses and horticulture activities. In addition to these nets, advancements are being made in textiles to optimize agricultural operations and boost the yield for farmers.

Academia-Private Sector Collaborations to Open New Growth Avenues for the Market

The growth of the textile industry is premised on harnessing the power of technology and combining with the capacity to innovate to create novel textile products and solutions for various end-users. In this regard, it is worth noting the enthusiasm with which academic institutions and private entities are pooling their resources to promote innovation in this industry, which in turn is benefiting the agro textiles market growth.

Industry Development:

• November 2019: The RWTH Aachen University’s Institut für Textiltechnik launched a virtual platform called Texspace as a digital tool to promote innovation in the field of technical textiles. The institute is partnering with Innoloft GmbH and some other start-ups to further the advancements in textile technologies, which will prove advantageous for many industries, including agriculture.

List of Companies Profiled in this Market Report:

• Diatex (France)
• Neo Corp International Limited (India)
• Meyabond Industry & Trading (Beijing) Co., Ltd. (China)
• Tama (Japan)
• SRF Limited (India)
•  Zhongshan Hongjun Nonwovens Co., Ltd. (China)
•  Hy-Tex (UK) Limited (U.K.)
•  Belton Industries (U.S.)
•  Beaulieu Technical Textiles (Belgium)
•  B&V Agro Irrigation Co. (India)

Further Report Findings:

• Holding a market share of 17.79% in 2019, the horticulture & floriculture segment is anticipated to gain traction during the forecast period owing to the importance of these activities in the field of biotechnology.
• With a market size of USD 3,302.9 million in 2019, Asia-Pacific is envisaged to dominate this market share in the coming years on account of high demand and consumption of these materials by China in its agriculture and aquaculture sectors.
• Increasing usage of agro textiles to improve crop yield and good availability of raw materials will augur well for this market in Latin America and the Middle East & Africa.

Table of Segmentation: