The growing spending on the feed and pet care sector has been providing opportunities in market
The global feed packaging market size is projected to reach nearly USD 22.8 billion by 2028. Additionally, the market is forecasted to grow a CAGR of above 5.2% over the forecast period of 2020-2028. Significant growth is anticipated in the global feed packaging industry due to growing demand from pet owners in order to satisfy the nutritional needs of pets and wildlife. Feed packing material is available in bulk and acts as a single box according to consumer demand. The ongoing trend of pet humanization is projected to boost the demand for pet food and business growth is projected. Development is expected to be driven by rising spending on pets and livestock for improved food choices.
The report also outlines the various characteristics of the global Feed packaging industry by assessing the market from value chain analysis. Moreover, the Feed packaging market report comprises various qualitative parts of the Feed packaging industry in market restraints, essential industry drivers, and opportunities. Furthermore, the report provides a complete assessment of the market through company profiling and the competitiveness of the local as well as global vendors.
The Feed packaging market has huge competition amongst the already well-known and new market players. Also, the Feed packaging industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Another aspect projected to sustain the sales growth of the industry is growing demand from small and medium-scale livestock fosters for stock extension of feed. In addition, innovation in pet food products and intensified competition among manufacturers of feed products in the global feed packaging industry are expected to drive market growth. Moreover, rising demand for quality livestock products and increasing production of feed and feed additives are some of the main factors that are expected to fuel growth.
The Asia Pacific market is projected to record considerable growth, owing to the extensive growth in countries of the feed packaging industry. It is anticipated that rising feed production would boost demand for feed packaging, which is expected to boost business growth in countries. Emerging Asian countries such as Vietnam, Thailand, and India have relatively limited and weak feed storage facilities, so farmers tend to buy feed in woven bags that allow for bulk storage without feed wastage.
The major players of the global Feed packaging market El Dorado Packaging, Inc., are LC Packaging, NPP Group Limited, Plasteuropa Group, NYP Corp., and ABC Packaging Direct. Moreover, the market comprises several other prominent players in the feed packaging market as Amcor Limited, Mondi Group, ProAmpac, and Shenzhen Longma Industrial Co., Limited, Sonoco Products. The major players in the market comes up with some of the developments to enhance the market growth in the global industry.
Segment Overview of Global Feed packaging Market
Type Overview, 2018-2028 (USD Billion, Million Tons)
Pet Overview, 2018-2028 (USD Billion, Million Tons)
Livestock Overview, 2018-2028 (USD Billion, Million Tons)
Regional Overview, 2018-2028 (USD Million, Million Tons)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America