The feed packaging market was valued at US$9.741 billion in 2018 and is projected to expand at a CAGR of 3.15% over the forecast period to reach US$11.735 billion by 2024. Feed Packaging is used for packaging of foods for livestock and pets. The growing shift from unorganized livestock farming to organized livestock farming is one of the major factors expected to drive the market for feed packaging. Further, the increasing demand for packaging of feed for the purpose of increasing the shelf life of the product is anticipated to fuel the market growth. Furthermore, rising adoption of pets in households is leading to growing consumption of pet foods which in turn is expected to impact the feed packaging market positively. Moreover, growing consumption and production of feed is expected to push the market for feed packaging further. Additionally, the changing preference from plastic packaging to eco-friendly packaging materials is estimated to provide growth opportunities in coming years. The market has been segmented by type, feed type, application and geography. In the feed type segment, dry feed is expected to hold a significant share in the market on account of high consumption and preference for dry feed for poultry and cattle’s. Geographically, Asia Pacific is projected to be a substantial shareholder on account of the high meat and dairy products consumption along with the growing economic growth in countries like India and China.
Growing Livestock population.
Changing trend from unorganized livestock farming to organized livestock farming.
Strict government regulations regarding use of plastic.
In April 2019, ProAmpac introduced greener pet food packaging solutions at Petfood Forum.
Some of the major players profiled in the Feed Packaging market include El Dorado Packaging, Shenzhen Longma Industrial Co Ltd., Mondi Group, Sonoco Products Company, LC Packaging, NYP Corp, ProAmpac, Winpak Ltd., and Amcor Limited.
The Feed Packaging market has been analyzed through the following segments:
By Feed Type
Middle East and Africa