USD 16.9 billion
Report ID: SQSG30C2033 | Region: Global | Published Date: April, 2023 | Pages: 157 | Tables: 122 | Figures: 58
Feed Packaging Market size was valued at USD 16.9 billion in 2021 and is poised to grow from USD 17.8 billion in 2022 to USD 27.22 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).
Packaging refers to materials used to wrap and safeguard products. As it offers tamper resistance in addition to meeting physical, chemical, and biological requirements, feed packaging is used to pack feed. Facts regarding the nutritional value of packaged items and other details about the feed being supplied are included on the packaging labels. The market for feed packaging is expanding as a result of an increase in the number of pets and pet care expenses. Additionally, the ability of feed packaging to increase the shelf life of feed contributes to the market's expansion. Government restrictions on the use of plastic and rising consumer demand for environmentally friendly packaging, however, are limiting industry expansion. Aseptic packaging is anticipated to accelerate expansion in the feed business.
Along with meeting the feed's biological, chemical, and physical needs, feed packaging also provides tamper resistance. The demand for and expansion of the feed packaging market are mostly being driven by the increase in competition, innovation, and product differentiation in pet food packaging products.
Additionally, it is anticipated that the feed packaging market would experience lucrative expansion throughout the course of the forecast period as a result of feed ingredients and the rising use of numerous liquid additives.
US Feed Packaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 16.9 billion
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The Global Feed Packaging Market is segmented based on type, feed type, animal type, material type, region. Based on the type, the market is segmented into flexible and rigid. Based on the feed type, the market is segmented into dry, wet, and chilled & frozen. Based on the animal type, the market is segmented into poultry, ruminants, swine, aquaculture, others. Based on the material type, the market is segmented into plastic, paper and paperboard, metal, glass, others. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Feed Packaging Market Analysis by Animal Type
Based on the animal type, the market is segmented into poultry, ruminants, swine, aquaculture, others. The rise in innovations, the prevalence of pet ownership, and the development of a variety of pet food packaging types are the primary factors driving the market for feed packaging. Over the course of the forecast period, rising consumer feed consumption in the poultry segment is projected to present opportunities for the feed packaging market.
Feed Packaging Market Analysis by Feed Type
Based on the feed type, the market is segmented into dry, wet, and chilled & frozen. The dry feed type segment of the market is projected to hold the most substantial share in the market. For dry feed types, feed packaging is frequently utilized for livestock. Dry feed is offered in pellet, powder, crumble, cube, and cake form. Globally, it is manufactured and eaten in vast quantities. Due to its simplicity in use, storage, and transportation, the majority of feed manufacturers in the market offer their products in the dry form. Additionally, dry feed is frequently utilized in animal diets since it is more cost-effective than wet feed. These elements are thought to help the segment increase its market share.
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The Asia Pacific accounted for the largest market share and is expected to remain the leading consumer of Feed Packaging in the coming years. The heavy reliance on animal-based food products in dietary patterns in developing countries in the Asia Pacific is a major driving force. The production and packing of feed is undergoing the greatest advancements in the region. The demand for meat and dairy products is expected to rise as a result of the region's strong economic expansion, notably in nations like China, India, Japan, and Thailand for both local consumption and exports. The region's production of feed has increased as a result of the rising demand for meat and dairy products. These factors have raised the use of packaging, and from 2022 to 2028, the livestock feed packaging market is anticipated to rise strongly.
In addition, developing nations in Asia like India, Thailand, and Vietnam have much smaller livestock farms than developed nations do, and their infrastructure for storing feed is subpar. Farmers like to purchase feed in woven bags (25 to 50 kg) due to these reasons since it minimizes spoiling. Further encouraging the livestock farmers to purchase well-packaged feed are the expanding animal husbandry methods, rising clean label product awareness, and rising demand for livestock products. The market for packaging livestock feed in the area is anticipated to increase as a result of these factors.
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Feed Packaging Market Driver
Feed Packaging Market Restraint
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The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Feed Packaging Market Top Players' Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, based on the type, the flexible packaging segment is projected to hold the most substantial share in the market. Based on the feed type, the dry feed segment is projected to hold the most substantial share in the market. Based on animal type, the poultry segment market is projected to hold the most substantial share in the market. Based on the material type, the plastic segment is projected to hold the most substantial share in the market. Whereas, based on the region, the Asia-Pacific region is projected to hold the most substantial share in the market.
|Market size value in 2021||USD 16.9 billion|
|Market size value in 2030||USD 17.8 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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For the Global Feed Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Feed Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG30C2033