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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).

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. 'Mondi Group'

A significant increase in demand from pet owners to meet the dietary requirements of wildlife and pets is expected to drive the worldwide feed packaging market. Pet humanization is a growing trend, and it is anticipated to increase demand for feed packaging. The market for feed packaging is expanding as a result of rising pet care costs and pet ownership rates. In addition, the major function of feed packaging is to increase the shelf life of feed.

Increased adoption of flexible packaging solutions will create ample opportunities for the global market growth in the upcoming years. Plastic is a common material used in flexible packaging, which is crucial to the feed packaging industry. The leading competitors are adopting flexible packaging for the product to boost sales in the anticipated term due to rising demand for single-serve pet food, easy packaging, online pet food, and more.

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.

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Global Feed Packaging Market

Product ID: SQSG30C2033