By 2025, the Global Bale Net Wrap Market is anticipated to reach a value of over $559.6 million, expanding at a CAGR of over 3.6%.
Bale Net Wrap: Overview
Ranchers wrap bales with a device called a bale net wrap. The bale is a collection of plant parts used as grain or necessary animal feed on a homestead.
Bale may be made of dried plant materials that have been cut from plants that have been gathered specifically for this use. It could also be produced using silage, or matured plant materials. The term "bale" in this context refers to a collection of plant parts that has been used to describe a traditional feeding container for farm animals.
In the forecast period from 2022 to 2030, the global bale net wrap market is anticipated to expand at a CAGR of 3.6%. The market's growth can be attributed to an increase in demand for bale net wrap from various applications, including baling hay, straw, and other materials. Due to its higher rigidity and strength when compared to expelled net wrap, knitted net wrap is predicted to dominate the global bale net wrap market during the projected time frame. According to estimates, North America will lead the global Bale Net Wrap market in terms of revenue in 2018, followed by Europe and Asia Pacific separately.
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Growing consumer interest in horticultural products as a result of population growth and rising disposable income in developing countries will drive the market. The government promotes the use of contemporary agricultural technologies and equipment, Farmers' increasing awareness of the benefits of using Bale Net Wrap will boost the market as well.
The size of the global bale net wrap market was $485.1 million in 2019; it is anticipated to increase to more than $559.6 million by 2025, with a compound annual growth rate (CAGR) of more than 3.6% from 2022 to 2030.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.