Asia Pacific is the Major Revenue Generating Region in the Feed Packaging Market

The feed packaging market 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%

The Asia Pacific is experiencing maximum developments in the feed production and packaging. With the rapid economic growth in the region, the demand for meat and dairy products is projected to increase, particularly in countries such as China, India, Japan, and Thailand for both domestic consumption as well as exports. 

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This growing demand for meat and dairy products has led to an increase in feed production in the region. Due to these factors, the application of packaging has increased, and the livestock feed packaging market is projected to witness a healthy growth from 2018 to 2023.xc

In addition, unlike developed countries, the livestock farm size in developing countries of Asia, including India, Thailand, and Vietnam, is quite small and the infrastructure for feed storage is poor. Due to these factors, farmers prefer buying feed in woven bags (25 to 50 kgs), as it prevents spoilage. Further, the growing animal husbandry practices, increasing awareness about the clean label products, and the growing demand for livestock products has encouraged the livestock rearers to buy well-packaged feed. These factors are expected to drive the growth of the livestock feed packaging market in the region.

For the feed packaging market (for pets), Asia Pacific is projected to witness the fastest growth in the pet food packaging market during the forecast period. Pet food manufacturers in Asia Pacific are developing and launching new and innovative products that comprise various ingredients to cater to the diverse health requirements of pets. In addition, packaging is gaining significance due to marketing, labeling of contents, and packaging size. Moreover, packaging solutions such as small pouches are witnessing an increasing preference, which is encouraging customers to purchase new products.

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Key Market Players

The major vendors in the global 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 market. Acquisitions have helped companies to expand their product portfolios and extend their geographical presence in developing markets.

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