North America is Projected to Hold the Largest Market Share in the Feed Packaging Market by 2023

Feed Packaging Market by Pet (Dogs, Cats, Fish, and Birds), Livestock (Poultry, Ruminants, and Swine), Type (Flexible and Rigid), Feed Type (Dry, Wet, Pet Treats, and Chilled & Frozen), Material, and Region - Global Forecast to 2023

Posted on 2020-11-30 by MarketsandMarkets in Agriculture // 0 Comments

The market for feed packaging is projected to grow from USD 13.8 billion in 2018 to USD 17.8 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 5.2%. The feed packaging market is further bifurcated into pet food and livestock feed packaging. The major factors driving the feed packaging market include the increasing trend of pet humanization and the growing spending on the pet care and feed industry in developing regions. Further, the growing demand for shelf extension of feed at small and middle-scale livestock rearers’ end is also expected to drive the market.

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North America is estimated to account for the largest share of the market in 2018. The region is considered the most advanced, in terms of pet adoption and packaging technology.

The market for feed packaging (for pets) in this region is mainly driven by high pet ownership, premiumization, the proliferation of innovations, and the introduction of a variety of packaging types for pet food. Increasing demand for premium pet food with high nutritional value, along with pet food safety concerns among pet owners, has helped to improve the quality standards of packaging and labeling in the region, thereby propelling the market growth for pet food packaging.

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Major vendors in the feed packaging market include LC Packaging (the Netherlands), El Dorado Packaging, Inc. (US), NPP Group Limited (Ireland), Plasteuropa Group (UK), NYP Corp. (US), ABC Packaging Direct (US), Shenzhen Longma Industrial Co., Limited (China), Amcor Limited (Australia), Mondi Group (Austria), ProAmpac (US), Sonoco Products Company (US), Winpak Ltd., (Canada), NNZ Group (the Netherlands), Constantia Flexible Group (Austria), and Huhtamäki Oyj (Finland).

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