Poultry Segment is Projected to be the Largest Contributor to the Feed Packaging Market

The feed packaging market is bifurcated into pet food and livestock feed packaging. The market for feed packaging 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.

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The estimated largest market share of poultry feed is attributed to the large-scale production of poultry feed. The large-scale production of poultry feed is a result of its large-scale consumption, as, unlike beef and pork, it is devoid of religious concerns. Thus, the production of poultry for meat is projected to dominate and account for more than half the growth of all the additional meat produced by 2025. Such rapid growth in poultry meat production is expected to further fuel the demand for superior-quality feed and feed additives, thereby propelling the market for livestock feed packaging.

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Key Market Players

The major vendors in the global feed packaging market are LC Packaging (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). 

These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past. The industry players, such as Amcor Ltd., among other feed packaging manufacturers, are focusing on producing sustainable and environment-friendly packaging solutions. Moreover, key industry players such as Mondi, ProAmpac, LC packaging, Amcor Ltd., are adopting acquisitions as the key strategy to grow in the feed packaging market. Acquisitions have helped companies to expand their product portfolios and extend their geographical presence in developing markets.

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