The global agricultural textiles market is projected to grow from USD 14.6billion in 2021 and is projected to reach USD 19.0billion by 2026, at a CAGR of 5.4%, between 2021 and 2026 period. The demand and use of Agricultural textiles are rapidly increasing due to the growth in outdoor and controlled-environment applications. The increasing urbanization, rising standards of living, and rising income levels is growing the agricultural textile market.
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Asia Pacific is the largest and fastest-growing Agricultural textiles market. It is projected to grow at the highest CAGR during the forecast period. The market is expected to witness significant growth in the outdoor and controlled-environment in countries such as China, India, and Indonesia.Its growing middle-class population plays an important role in driving various industries, which has led to industrialization and the manufacturing of various products that require Agricultural textiles. Asia Pacific is the most promising market for Agricultural textiles and is projected to remain the same in the next few years. Asia Pacific is witnessing an increased demand for high-end products because of the rise in the purchasing power of consumers.India is an agriculture-based economy. Increased cultivation is meeting the rising food demand of the population. Due to the depleting arable land, the need for controlled agriculture has increased.
The North American market for Agricultural textiles is witnessing moderate growth. Despite strong competition from manufacturers in emerging regions such as the Asia Pacific, North America remains one of the strategically important markets for key players. North America is the second-largest agricultural textiles market. Agricultural textiles are becoming more popular in the region as they increase yields and enhance the quality of crops while lowering the need for chemical fertilizers, pesticides, and herbicides. The key countries in the region are the US, Canada, and Mexico. The climatic variations and prolonged drought in some parts of the US have led to the increased use of greenhouses and mulching by farmers. This has subsequently increased the demand for Agricultural textiles.
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Continuous developments in the Agricultural textiles market are expected to help the market grow.The companies are providing products which will serve various end-use industries. New product launches have also helped companies enhance their product portfolio. The companies have also started new manufacturing sites to capture and fulfill the need of the market.