Silo Bags Market Revenue, Opportunity, Segment And Key Trends
As the COVID-19 (coronavirus) outbreak sweeps across the world, companies in the agriculture industry are increasing efforts to strengthen their supply chains. They are keeping their employees and consumers safe, whilst providing the necessary equipment, commodities, and services. Likewise, companies in the silo bags market are adopting robust sanitization measures to keep packaging units away from the exposure of the virus. Symaga— a manufacturer of industrial silos, is complying with government instructions to conduct factory operations and business activities in offices.
Companies in the silo bags market are working in full capacity in countries of China, Japan, Australia, and South Korea to revive market growth since the pandemic has drastically subsided in these regions. Employees are receiving hygiene and contagion prevention training to avoid exposure to the virus.
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Proliferation of IoT in Agroindustry Bolsters Market Growth
The silo bags market is expected to expand at a growth of 6% during the assessment period. With the proliferation of IoT (Internet of Things) in the agricultural industry, producers are harnessing the advantages of the technology. For instance, Wiagro— a provider of wireless solutions for agriculture, is manufacturing smart silo bags that facilitate real-time monitoring of grains inside the bag with the help of the IoT technology.
Blockchain-based traceability platforms are bringing a significant change in the silo bags market. These platforms help in efficient transportation and reduce food losses worldwide. Moreover, producers are able to access information regarding food grains from remote locations through online capabilities. Blockchain-based traceability platforms are helping producers to store information that plays a key role in post-harvest storage processes. Thus, the blockchain technology is ensuring reliability in grain quality.
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Silo Bags or Gunny Bags: Which Are Better?
Silo bags are a more cost-efficient solution as compared to gunny bags for grain storage. However, limited unitary capacity of silo bags and the need for large land area for storage are some of its disadvantages. As such, silo bags can be stored under optimal conditions and this advantage is helping manufacturers in the silo bags market to increase unit uptake.
Apart from grain storage, companies in the silo bags market are expanding their business in composting applications. Proper management of organic waste is an indispensable part of farming and harvesting activities. Farmers are increasingly using silo bags for proper management of organic waste. Silo bags are eliminating concerns regarding liquid spills and undesirable odors. The growing demand for closed composting systems has led to increased sales of silo bags.
Food Security and Demand for Good Grain Quality Creating Business Opportunities
The silo bags market is projected to witness a Y-o-Y growth during the forecast period. Cutting-edge silo loading systems are contributing toward market growth. Lorandi Silos— a specialist in material handling and storage, is manufacturing robust silo loading systems that can be moved by forklift for loading applications at multiple locations.
The increasing world population has stressed the importance of food security. This can be achieved with silo bags that help to maintain the quality of grains. With increasing yields in the upcoming years, manufacturers in the silo bags market need to boost their output capacities in order to safely distribute food grains worldwide. Due to the growing demand for good grain quality, producers are looking for ways to optimize their storage facilities.
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