The global feed packaging market is anticipated to accumulate a market value of US$ 18.9 billion in 2023 and is expected to garner a valuation of US$ 33.6 billion by exhibiting a CAGR of 5.9 % in the forecast period 2023 to 2033. The feed packaging market reflected a growth of 4.1 % CAGR in the historical period 2018 to 2022.
The feed packaging market is gaining traction due to the rising adoption of pets as companions and the growing awareness about maintaining a pet’s health among owners. Rising concerns about the health of companion animals are boosting the adoption of spill-proof and advanced pet food packaging to retain the quality of pet food.
With shifting social contracts and treating pets as faithful family members becoming more of a social norm, the growth and development of premium pet food category have emerged as a natural outcome. Moreover, the emergence of new players and the proliferation of stock-keeping units (SKUs) unleashing dramatic packaging is fuelling the pet food industry and driving product demand.
Due to growth in pet adoption rate and growing awareness among owners of animal health, the industry has focused on maintaining the quality of pet food packaging including spill-proof and labeling innovations such as labelling metabolizable energy. Like any other food product, animal lovers demand informative, attractive, and protective products for pet food packaging. This is estimated to boost product sales in the forthcoming period.
The Food and Drug Administration (FDA) regulations for pet food products have improved over the years and are like human food. Future Market Insights says, Rising focus of manufacturers on keeping up with consumer preferences, such as smart packaging for pet food will open new avenues for market expansion. The labelling of these pet food products thus provides a positive outlook for the demand for feed packaging solutions. Sustainability has become a serious concern raised by governments and customers, which is why packaging firms are inclined towards government and customer-compliant packages.
For example, for organic pet feed packaging, made from fiber-based renewable resources and paper/poly hybrid materials, ProAmpac’s PRO-EVP multiwall bags are gaining popularity. The PRO-DURA collection of the company comprises woven polypropylene bags, that provide versatility and durability.
North America is expected to command a maximum share of 39% by end of the forecast period. The region is projected to grow with a CAGR of 5.4% during the forecast period. The demand for animal feed packaging in this region can be correlated with the growing adoption of pets and rescue dogs in the region.
According to the National Pet Owners Survey of 2021-2022 by the American Pet Products Association (APPA), around 70% of US households, or about 90.5 million families, own pets. This will open new growth opportunities for regional market expansion in the forthcoming period.
Also, the increase in the adoption of pets and rescue animals also led the packaging industry to innovate on the premiumization and safety of pet food products. Additionally, the bag or container makes manufacturers stand out with cat and dog owners who want sustainable packaging options, personalized pet diets, and ingredients that even pet owners find appealing.
On the other hand, Asia Pacific is likely to exhibit the highest CAGR of 6% over the projection period. The feed packaging market in this region is growing alongside trends of nuclear families. In this regard, the concept of humanization is likely to bolster the growth of the regional market in the coming decade.
Feed Packaging Market Overview
Feed packaging refers to the packaging of food that is consumed by animals or pets which ensures the material prevents food from contamination, physical protection, and security and preserve its hygiene value. Feed packaging offers tampering resistance along with biological, chemical and physical requirements for feed.
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.
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 drives 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 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.
How Competitive is the Market?
Recent developments and breakthroughs in technology, mergers, acquisitions, tie-ups, and partnerships within the companies involved in manufacturing feed packaging solutions are expected to create lucrative opportunities for market growth during the forecast period.
· In August 2022, Constantia Flexibles purchased ‘FFP Packaging Solutions to see it gain its first consumer plant in the United Kingdom that focuses on developing recyclable laminates for flow wraps, lidding films, and pre-made pouches. FFP Packaging Solutions reportedly account for over 80% of its sales in sustainable packaging in the United Kingdom, offering expertise in recyclable laminates for flow wraps, lidding films, and pre-made pouches.
· In July 2022, Simmons Pet Food declared new initiatives as the firm invested US$ 500 million in a strategic growth strategy that included the start-up of the second line of canned animal food at its Dubuque, Iowa, plant, a new pet food distribution facility in the area of Edgerton, Kansas, and a fourth high-speed canning line at its facility in Emporia, Kansas.
