Market Leader - Feed Packaging Market
The global feed packaging market size 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. As a result of the growing trend of online shopping for pet foods, owing to the increasing demand for convenient pet foods and growing animal husbandry and feed production in the developing regions, the market for feed packaging is expected to grow in the future. The feed packaging market is further bifurcated into pet food and livestock feed packaging.
The major feed packaging vendors include 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 adopted various growth strategies, such as expansions & investments and new product launches, to further expand their presence in the global feed packaging (for pets) market. Acquisitions has been the most dominating strategy adopted by major players from 2015 to 2018.This has helped them to innovate their offerings and broaden their customer base.
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Amcor Ltd. has been focusing on acquisitions and various agreements to expand its reach across different provinces of growing countries. Further, in line with the rising importance of environment-friendly packaging, Amcor Limited has been working to deliver biodegradable and environment-friendly services to the feed industry. The company also focuses on building long-term strategic partnerships with companies that are leaders in the feed packaging (for pets) market. Thus, this strategy has helped Amcor Limited to develop new reusable and recyclable solutions and take them faster to the market.
Furthermore, Mondi, along with Pope Packaging (Australia), created 100% recyclable and biodegradable paper sack-Enviro Barrier-using Mondi’s Advantage Speed Sack kraft paper. Enviro was designed to be a cost-effective, useful, and fully sustainable alternative to paper sacks containing HDPE film. Also, in August 2018, Mondi acquired Suez Bags Company S.A.E, (Egypt), an industrial bag producer operating a plant near Cairo in Egypt. The acquisition of Suez Bags would complement Mondi’s network in the growing Middle Eastern region and would help it to grow its business and serve its customers better.
Related Reports:
Feed Packaging Market by Pet (Dogs, Cats, Fish, and Birds), Livestock (Poultry, Ruminants, and Swine), Type (Flexible and Rigid), Feed Type (Dry, Wet, Pet Treats, and Chilled & Frozen), Material, and Region - Global Forecast to 2023
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