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.
DRIVERS
Growing Livestock population.
Changing trend from unorganized livestock farming to organized livestock farming.
RESTRAINTS
Strict government regulations regarding use of plastic.
INDUSTRY UPDATES
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.
Segmentation
The Feed Packaging market has been analyzed through the following segments:
By type
Flexible
Rigid
By Feed Type
Dry
Liquid
By Application
Livestock
Swine
Poultry
Cattle
Pet
Dogs
Cats
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Spain
Others
Middle East and Africa
Saudi Arabia
Israel
Others
Asia Pacific
China
Japan
South Korea
India
Others
Frequently Asked Questions (FAQs)
Q1. What will be the feed packaging market size by 2024?
A1. The global feed packaging market is projected to reach a total market size of US$11.735 billion in 2024.
Q2. What are the growth prospects for feed packaging market?
A2. The feed packaging market is projected to expand at a CAGR of 3.15% over the forecast period.
Q3. What factors are anticipated to drive the feed packaging market growth?
A3. 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.
Q4. What is the size of global feed packaging market?
A4. Feed Packaging market was valued at US$9.741 billion in 2018.
Q5. Which region holds the largest market share in the feed packaging market?
A5. Asia Pacific is projected to be a substantial shareholder on account of the high meat and dairy product consumption along with the growing economic growth in countries like India and China.
