Newark, June 06, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global livestock feed packaging market is expected to grow from USD 13.93 billion in 2021 to USD 23.65 billion by 2030, at a CAGR of 6.06% during the forecast period 2022-2030.
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The rapid growth in the livestock feed manufacturing in the developing and developed countries is anticipated to expand the demand for the livestock feed packaging industry during the projection period. Further, the rising adoption of animal feed, increasing government support in the country, the increasing worldwide food demand, and the increasing global population are the driving factors of market growth. Moreover, the ever-increasing livestock population and the shift from unorganized livestock farming to the organized sector are also helping to drive market growth. However, the higher the production of feed products directly associated with an expansion in greenhouse gas production is the restraining factor of the market growth. Furthermore, the massive requirement for enhancing the shelf-life of wet food products without affecting the nutrient value & palatability of the products is an opportunity for market growth.
Competitive Strategy
To enhance their market position in the global livestock feed packaging market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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Market Growth & Trends
The growth of the livestock feed packaging market is driven by the growing competition among feed product manufacturers. Further, the ever-increasing use of various liquid additives & ingredients in the feed also helps drive market growth. Moreover, increasing awareness of animal health is the market growth trend. Also, the enterprise has focused on keeping the quality of livestock food packaging such as spill-proof, and labeling innovations like labeling metabolizable energy is also helping to boost the market growth. However, the execution of favorable government policies promoting the usage of quality animal feed also drives the market growth during the forecast period. Furthermore, the growing penetration of e-commerce and internet retailing also help propel the market growth during the forecast period.
Key Findings
• In 2021, the wet segment dominated the market with the largest market share of 32.13% and market revenue of 4.47 billion.
The feed type segment is divided into chilled & frozen, pet treats, dry, and wet. In 2021, the wet segment dominated the market with the largest market share of 32.13% and market revenue of 4.47 billion. This growth is attributed to the increasing use of different liquid feed ingredients and additives in the feed.
• In 2021, the cattle segment dominated the market with the largest market share of 21.11% and market revenue of 2.94 billion.
The farm animal segment is divided into goats, sheep, mules, donkeys, cattle, horses, pigs, and others. In 2021, the cattle segment dominated the market with the largest market share of 21.11% and market revenue of 2.94 billion. This growth is attributed to the raised demand for animal protein derived from the livestock sector.
• In 2021, the plastics segment dominated the market with the largest market share of 31.27% and market revenue of 4.35 billion.
The material segment is divided into paper & paperboards, metal, plastics, and others. In 2021, the plastics segment dominated the market with the largest market share of 31.27% and market revenue of 4.35 billion. This growth is attributed to the increasing consumption of stand-up bags & pouches.
• In 2021, the flexible segment dominated the market with the largest market share of 57.16% and market revenue of 7.96 billion.
The type segment is divided into rigid and flexible. In 2021, the flexible segment dominated the market with the largest market share of 57.16% and market revenue of 7.96 billion. This growth is attributed to the increasing demand in developing economies.
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Regional Segment Analysis of the Livestock Feed Packaging Market:
• North America (U.S. Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
• Asia-Pacific (China, Japan India, Rest of APAC)
• South America (Brazil and Rest of South America)
• Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global livestock feed packaging industry, with a market share of 47.27% and a market value of around 6.58 billion in 2021. The Asia Pacific currently dominates the livestock feed packaging market due to the high feed packaging and production developments. Additionally, the growing demand for dairy & milk-based products has led to raised feed production, which helps drive the region's market growth. Furthermore, the North American region is expected to show the fastest CAGR of 8.09% over the projection period. This growth is attributed to the growing premiumization & humanization trends. Also, the rising awareness among livestock rearers regarding the advantages of feed packaging is helping to boost the market growth during the forecast period.
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Key players operating in the global livestock feed packaging market are:
• Flexible Packaging Europe (FPE)
• El Dorado Packaging
• ABC Packaging Direct
• ABC Mondi
• NPP
• LC Packaging
• Amcor plc
• Constantia Flexibles
• ProAmpac
• Shenzhen Longma Industrial Co., Limited
• Huhtamaki
• Winpak Ltd
• Plasteuropa Group
• Sonoco Products Company
• NNZ Group
• NYP Corp
• LC Packaging
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global livestock feed packaging market based on below mentioned segments:
Global Livestock Feed Packaging Market by Feed Type:
• Chilled & Frozen
• Pet Treats
• Dry
• Wet
Global Livestock Feed Packaging Market by Packaging Type:
• Goats
• Sheep
• Mules
• Donkeys
• Cattle
• Horses
• Pigs
• Others
Global Livestock Feed Packaging Market by Material:
• Paper & Paperboards
• Metal
• Plastics
• Others
Global Livestock Feed Packaging Market by Type:
• Rigid
• Flexible
About the report:
The global livestock feed packaging market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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