Straw For Fodder Balers Market

The article provides an in-depth analysis of the global market for straw or fodder balers, including pickup balers. It includes forecasts for consumption trends, market performance, and value projections from 2022 to 2030, with an expected CAGR of +5.4% in volume and +7.8% in value. The article also highlights the top consuming countries, such as China, India, and the United States, as well as production and import-export trends. Overall, the global market for straw or fodder balers is expected to see steady growth in the coming years.

Market Forecast

Driven by increasing demand for straw or fodder balers, including pickup balers worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market volume to 342K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.8% for the period from 2022 to 2030, which is projected to bring the market value to $6.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Straw Or Fodder Balers, Including Pickup Balers

In 2022, after two years of growth, there was significant decline in consumption of straw or fodder balers, including pickup balers, when its volume decreased by -6.6% to 224K units. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, global consumption attained the peak volume at 256K units in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

The global straw for fodder balers market revenue contracted to $3.5B in 2022, with a decrease of -5.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a relatively flat trend pattern. Global consumption peaked at $4.1B in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Consumption By Country

China (55K units) constituted the country with the largest volume of straw for fodder balers consumption, comprising approx. 24% of total volume. Moreover, straw for fodder balers consumption in China exceeded the figures recorded by the second-largest consumer, India (21K units), threefold. The third position in this ranking was held by the United States (15K units), with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +4.5%. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+4.1% per year) and the United States (+1.8% per year).

In value terms, China ($606M), India ($328M) and the United States ($283M) appeared to be the countries with the highest levels of market value in 2022, with a combined 35% share of the global market. The UK, Indonesia, Japan, Germany, Bangladesh, Canada, Italy, Russia, Iran and Thailand lagged somewhat behind, together comprising a further 29%.

Among the main consuming countries, the UK, with a CAGR of +6.1%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of straw for fodder balers per capita consumption in 2022 were Canada (147 units per million persons), Italy (94 units per million persons) and the UK (91 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by China (with a CAGR of +4.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Straw Or Fodder Balers, Including Pickup Balers

Global straw for fodder balers production totaled 245K units in 2022, leveling off at 2021. The total output volume increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 14% against the previous year. Global production peaked at 261K units in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, straw for fodder balers production declined to $3.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 12% against the previous year. Over the period under review, global production reached the maximum level at $4.4B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

China (63K units) constituted the country with the largest volume of straw for fodder balers production, comprising approx. 26% of total volume. Moreover, straw for fodder balers production in China exceeded the figures recorded by the second-largest producer, the United States (22K units), threefold. India (21K units) ranked third in terms of total production with an 8.6% share.

From 2012 to 2022, the average annual growth rate of volume in China totaled +6.4%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+1.4% per year) and India (+4.1% per year).

Imports

World Imports of Straw Or Fodder Balers, Including Pickup Balers

In 2022, purchases abroad of straw or fodder balers, including pickup balers decreased by -14.4% to 90K units for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 when imports increased by 18%. Over the period under review, global imports hit record highs at 105K units in 2021, and then shrank in the following year.

In value terms, straw for fodder balers imports rose sharply to $1.6B in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.0% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of 18%. Over the period under review, global imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

Canada (6.7K units), France (6.1K units), the United States (5.9K units), Germany (5.4K units), Thailand (4.5K units), Belgium (4.3K units), Russia (4K units), Poland (3.8K units), Italy (3.3K units), the UK (3.1K units), Australia (3K units) and Denmark (3K units) represented roughly 59% of total imports in 2022. Belarus (2.1K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +78.2%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest straw for fodder balers importing markets worldwide were the United States ($152M), Canada ($118M) and France ($117M), together accounting for 24% of global imports. Germany, the UK, Belgium, Poland, Australia, Russia, Italy, Denmark, Thailand and Belarus lagged somewhat behind, together comprising a further 33%.

Thailand, with a CAGR of +58.5%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average straw for fodder balers import price stood at $17,701 per unit in 2022, picking up by 25% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($25,945 per unit), while Thailand ($5,556 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Straw Or Fodder Balers, Including Pickup Balers

In 2022, overseas shipments of straw or fodder balers, including pickup balers increased by 1.7% to 111K units, rising for the sixth consecutive year after three years of decline. Over the period under review, total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +72.6% against 2016 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 18%. The global exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, straw for fodder balers exports rose to $1.6B in 2022. Overall, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.3% against 2015 indices. The pace of growth was the most pronounced in 2021 when exports increased by 18%. The global exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports By Country

Germany (17K units), the United States (13K units), France (12K units), China (9.4K units), Belgium (8.1K units), Hungary (7.3K units), the Netherlands (7.2K units), Poland (7.1K units), Italy (5.7K units) and Belarus (4.9K units) represented roughly 82% of total exports in 2022.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +43.1%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest straw for fodder balers supplying countries worldwide were Germany ($300M), the United States ($215M) and France ($201M), with a combined 44% share of global exports. Belgium, the Netherlands, Italy, Hungary, Poland, China and Belarus lagged somewhat behind, together accounting for a further 37%.

In terms of the main exporting countries, China, with a CAGR of +23.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average straw for fodder balers export price amounted to $14,596 per unit, growing by 2.6% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 8.6%. As a result, the export price reached the peak level of $16,523 per unit. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($19,563 per unit), while China ($3,575 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+1.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform