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.
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.
Browse Full Report (Tables & Figures) @ https://www.grandviewresearch.com/industry-analysis/agro-textiles-market
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