The global feed packaging market is projected to reach a market size of US$ 18.9 billion in 2023 and US$ 33.6 billion by showing a CAGR of 5.9% from 2023 to 2033. From 2018 to 2022, there was a 4.1% CAGR growth in the market for feed packaging.
The market for feed packaging is expanding as a result of more people adopting dogs as companions and owners being more concerned about preserving their pets’ health. The popularity of improved pet food packaging that is spill-proof is increasing as worries about the health of companion animals grow. This helps to preserve the nutritional value of pet food.
In pet food packaging products, the rise in competition, innovation and product differentiation is largely fuelling the demand and growth of the feed packaging market. In addition, ingredients in the feed and the increasing use of myriad liquid additives is predictable to produce profitable growth for the feed packaging market in the forecast period.
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What Drives the Growth of the Feed Packaging Market?
Due to increasing demand from pet owners to satisfy the nutritional needs of wildlife and pet, substantial growth is anticipated in the global feed packaging industry. The ongoing trend and development of pet humanization are projected to boost the demand for the feed packaging market.
Additionally, increasing pet care expenditure and pet population drive the growth of the feed packaging market. Besides, extending the shelf life of feed is the main property of feed packaging.
How the Poultry Segment will Create an Opportunity for the Feed Packaging Market?
The market for feed packaging (for pets) is mainly driven by the increase of innovations, high pet ownership and the introduction of a variety of packaging types for pet food. Rising consumption of feed in the poultry segment by consumers are likely to create potential opportunity for feed packaging market over the forecast period.
What are the Key Trends Impacting Growth of the Feed Packaging Market?
For flexible packaging type the use of plastic material is high which is playing the vital role in the feed packaging market. Due to increasing demand for single-serve pet food, convenient packaging, online pet food and more the key players are adoption flexible packaging for the product which bolster the sale in the forecasted period.
What are the Key Challenges that Might Hinders Growth of the Feed Packaging Market?
The single-use plastic ban has been banned by the government across the globe. The feed packaging is done in plastic material which can cause the environment. Consumers are concerning more about the usage of eco-friendly product which is restraining the growth of the feed packaging market.
Another restraining factor is bulk purchasing of a product as the feed packaging comes in small quantity and consumers have started buying the product in bulk which is restraining the demand of the feed packaging market.
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How will Feed Packaging Market Generate Significant Demand in India?
Emerging country in the Asia Pacific such as India has relatively developed infrastructure for the feed storage, thus farmers prefer to purchase feed in woven bags and jute bags which enables the bulk storage without nay wastage of feed, which is propelling the demand for the feed packaging market. Due to the rise in milk-based, dairy production and consumption of meat are expected to drive the growth of the target market.
What is the Consequences of the Pandemic on the Growth of the Feed Packaging Market?
Due to the pandemic, the global packaging market serving industries such as feed, personal care, beverage and pharmaceuticals are expected to grow the demand. The increasing demand for packaging material in the feed industry has led the retailer to meet the demand of consumers. The shift in consumer towards feed packaging items has extended during the COVID-19 outbreak.
Market Segmentation of the Feed Packaging Market
By Packaging Type:
- Flexible
- Rigid
By Material Type:
- Plastic
- Polyethylene (PE)
- Polypropylene (PP)
- Paper
- Jute
- Metal
- Glass
By Livestock:
- Poultry
- Ruminants
- Swine
- Others (Aquatic animals and Equine)
By Feed Type:
- Dry
- Wet
- Chilled & frozen
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