Increasing of demand for shelf-life extension boosts the Feed Packaging Market

Market overview:
The Feed Packaging Market was calculated to be 13.8 billion USD in 2021, and it is foreseen that it will reach 17.8 billion USD by 2026 at a CAGR of 3.2% during the projection period.

Market Drivers and Restrains:
Growth in feed production coupled with the increased consumption of feed across the globe drives the Feed Packaging Market revenue rate. Also, increased demand for shelf-life extension of feed and increasing investments by the major players of the region are some of the other factors that propels the growth of Feed Packaging Market. Availability of alternative products are some of the restraints effecting the expansion of the Feed Packaging Market.

Recent Developments:
In the month of August 2018, ProAmpac company has been awarded a level 2 food safety management certifictaion by the safe quality food institute for its facility in Auburn, Washington, US.
In the month of January 2018, Huhtamaki company has expanded their bag manufacturing operations in Poland by establishing a new joint venture with smith anderson group limited from UK.

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Report is segmented as:
The Global Feed Packaging Market is segmented by pet, livestock, feed type, material and type.
By pet, the market is segmented into dogs, cats, fish, birds, tortoise and reptiles. By livestock, the Feed Packaging Market is segmented into poultry, ruminants, swine, aquatic animals and equine. By feed type, the Feed Packaging Market is segmented into dry, wet, pet treats, chilled and frozen. By material, the Feed Packaging Market is segmented into plastic, paper, jute, cotton and polyesters. By type, the Feed Packaging Market is segmented into flexible and rigid.

Geographical Segmentation:
Asia Pacific region holds the major share of the market of Feed Packaging Market owing to the rapid growth of feed as well as the region is having the maximum developments in the feed production and packaging. Asia Pacific is also estimated to hold the dominance of the market during the predicted period. North America holds the second largest share of the Feed Packaging Market owing to the growing demand for meat and dairy products in the locale.

Impact of COVID on Feed Packaging Market
Due to COVID-19 pandemic, all the industries are facing a lot of financial crisis due to the halt of their businesses because of the lockdown implemented by the government. However, the companies operating in the Feed Packaging Market expected a surge in their business, since the lockdown has been lifted lately. As per the analysis, the market is expected to witness a hike in the revenue rate in the next few years because of the increasing demand for feed production and packaging across the planet.

Key market players:
Major players of Feed Packaging Market are Sonoco Products Company (US); Winpak Ltd., (Canada); NNZ Group (the Netherlands); Plasteuropa Group (UK); NYP Corp. (US); ABC Packaging Direct (US); Shenzhen Longma Industrial Co., Limited (China); Amcor Limited (Australia); LC Packaging (Netherlands); El Dorado Packaging Inc., (US); NPP Group Limited (Ireland); Mondi Group (Austria); ProAmpac (US); Constantia Flexible Group (Austria); and Huhtamäki Oyj (Finland)

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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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