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% during the forecast period. The study involved four major activities in estimating the current market size for the feed packaging market. Exhaustive secondary research was done to collect information on the market as well as the peer and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various sources were referred to, so as to identify and collect information for this study. These secondary sources included reports from the American Feed Industry Association (AFIA), European Feed Manufacturers' Federation (FEFAC), and EU Association of Specialty Feed Ingredients and their Mixtures (FEFANA); annual reports; press releases & investor presentations of companies; white papers; certified publications; articles by recognized authors, packaging safety regulations, feed safety organizations, regulatory bodies, trade directories, and databases.
Secondary research was mainly used to obtain key information about the industry’s supply chain; the total pool of key players; market classification; and segmentation, according to industry trends to the bottom-most level; and regional markets. It was also used to obtain information about the key developments from a market-oriented perspective.
Primary Research
The overall feed packaging market comprises several stakeholders such as feed traders and distributors, pet food traders and distributors, animal feed and packaging regulatory bodies, manufacturers of feed packaging, manufacturers of pet food packaging, pet food packaging material distributors/suppliers, livestock feed packaging material distributors/suppliers, technology providers to feed packaging companies, environmental protection bodies, and regulatory bodies in the supply chain. The demand side of this market is characterized by the development of the feed industries, the rise in livestock population, and an increase in pet adoption and humanization. The supply side is characterized by advancements in technology. Various primary sources from both the supply and demand sides of the overall market were interviewed to obtain qualitative and quantitative information.
The primary interviewees from the demand side include key opinion leaders, executives, vice presidents, and CEOs of the livestock feed and pet food industries. The primary sources from the supply side include research institutions involved in R&D to introduce new feed packaging; key opinion leaders; distributors; and livestock feed & pet food packaging manufacturers.
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