North America is projected to hold the largest market share in the feed packaging

Posted on 2021-08-04 by MarketsandMarkets in Agriculture // 0 Comments

The feed packaging market 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% during the forecast period. This is attributed to the feeding of traditional dry farms leftover to the livestock in the developing regions. However, with the growing demand for quality livestock products and the increasing production of feed and feed additives, this market is expected to grow at a higher rate in the coming years.

Download PDF Brochure

North America is projected to hold the largest market share in the feed packaging (for pets) market during the forecast period.

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.

The Asia Pacific is experiencing maximum developments in the feed production and packaging. With the rapid economic growth in the region, the demand for meat and dairy products is projected to increase, particularly in countries such as China, India, Japan, and Thailand for both domestic consumption as well as exports. This growing demand for meat and dairy products has led to an increase in feed production in the region. Due to these factors, the application of packaging has increased, and the livestock feed packaging market is projected to witness a healthy growth from 2018 to 2023.

In addition, unlike developed countries, the livestock farm size in developing countries of Asia, including India, Thailand, and Vietnam, is quite small and the infrastructure for feed storage is poor. Due to these factors, farmers prefer buying feed in woven bags (25 to 50 kgs), as it prevents spoilage. Further, the growing animal husbandry practices, increasing awareness about the clean label products, and the growing demand for livestock products has encouraged the livestock rearers to buy well-packaged feed. These factors are expected to drive the growth of the livestock feed packaging market in the region.

For the feed packaging market (for pets), Asia Pacific is projected to witness the fastest growth in the pet food packaging market during the forecast period. Pet food manufacturers in Asia Pacific are developing and launching new and innovative products that comprise various ingredients to cater to the diverse health requirements of pets. In addition, packaging is gaining significance due to marketing, labeling of contents, and packaging size. Moreover, packaging solutions such as small pouches are witnessing an increasing preference, which is encouraging customers to purchase new products.

Make an Inquiry

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).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Matched content

Editor’s pick