Pune, India — 04/27/2018 — Pet food packaging is used for the wrapping or enclosing food items produced specifically for animals (pets). The packaging of such product is available across rigid, semi-rigid, and flexible options. The pet food packaging market is mainly driven by the factors such as increasing adoption of pets, innovation in packaging, and increasing disposable income of pet owners. The market growth is hindered with stringent pet food regulations.
The pet food packaging market is growing with the growing pet food industry. Additionally, increasing awareness about the pet humanization trend and concerns about the health of pets, people are preferring quality packaging food products, which can protect the pet food from spoilage and have quality standards similar to human food packaging.
The pet care industry has grown progressively in the developed countries due to growing pet ownership and demand for pet food packaging. Trending designs of better packaging include the incorporation of additives into the packaging. As the consumer demand increases, manufacturers are pushing further to meet their needs. The global pet food packaging market is projected to reach USD 89.10 million by 2023 at a CAGR of 5.67% during the forecast period 2017-2023.
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The pet food packaging market has witnessed a prospective growth over the last few years and as per the analysis, the market is likely to retain the similar growth rate during the forecast period. In the report, the market has been divided into the material, which includes paper & paperboard, plastic and others.
Pet food packaging market is growing rapidly. According to a recent study report published by the Market Research Future, the global PET Packaging market is estimated to observe a Humongous Growth, with an exponential CAGR during the forecast period (2016-2021).
The market for pet food packaging is induced by the change of lifestyle of people across the globe along with increased spending. With the change in lifestyle, the pet adoption rate has gone up which further fuels the demand for quality pet food. The owners are spending more on their pets to provide them with quality packaged food to ensure a healthy and nutritious meal for their pets. Furthermore the increased competition in the pet food market is also driving the market for packaging in the same sector.
Pet Food Packaging Global Market – Key Players:
Major players having a strong presence in the international and regional market adorn the global Pet food Packaging market as highly competitive and fragmented. These key players compete on the basis of product differentiation, portfolio, and pricing, quality, innovation, reputation, distribution, and promotion. Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players in the Pet food Packaging market.
The key players of pet food packaging market report include- Amcor Limited, Mondi PLC, Sonoco Products Company Resources Inc., InterFlex Group, Constantia Flexibles GmbH, KapStone Paper and Packaging Corporation, Huhtamäki OYJ, Aptar Group, Gateway Packaging Company, Ampac, Bemis Co. Inc., Reynolds Group Holding, Printpack Inc., and Ardagh Group.
Pet Food Packaging Global Market – Segments:
The Pet Food Packaging Market can be segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Packaging Material Type : Consisting paper & paperboard, plastic and others.
Segmentation By Product Types : Consisting as bags, metal cans, pouches, box & cartons and others.
Segmentation By Food Type : Consisting dry food, wet food, chilled & frozen food, pet treats and others.
Segmentation By Animal Type : Consisting dog food, fish food, cat food and others.
Segmentation By Regions : Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Pet Food Packaging Market – Regional Analysis
North America dominates the Pet Food Packaging Market with its fast growing market worldwide. It will expand at a substantial CAGR over the forecast period. The increase in disposable income resulting in changing lifestyles and increased awareness towards pet adoption are key drivers in the region. It is followed by Europe and APAC which is expected to grow rapidly over its previous growth records by 2027.
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