The global Pet Food Packaging Market is expected to be valued at USD 13.27 Billion in 2027 from USD 9.70 Billion in 2019, registering a CAGR of 3.9% through the forecast period. The rapid expansion of the market can be attributed to the growing attraction towards pet adoption and humanization, rising levels of disposable income, changing lifestyles, and convenience of packaged food for pets. Pet owners increasingly prefer packaged food nowadays, majorly due to health concerns surrounding their pets.
Additionally, there is an increased focus and consciousness about the quality of the packaged food, with the owners preferring premium-quality packaging that protects the pet food from damage, pilferage, or spoilage. Furthermore, the favorable FDA regulations about food safety and packaging rules have increased the adoption of packaged foods for pets.
The global market for pet food packaging is highly competitive and fragmented with the presence of numerous small, medium, and large corporations. With the intensification of the competition, the companies are actively engaged in developing a diversified portfolio and are focusing on the labeling part of the package. The market is poised to create lucrative growth opportunities for the industry players owing to the escalating trend of pet adoption across the globe.
Key Highlights from the Report:
- The paper and paperboard sub-segment is foreseen to occupy a substantial share of the industry, registering a CAGR of 4.9% throughout the forecast timeframe. The plastics segment is also estimated to exhibit significant growth owing to the rising use of plastics across the industry due to its cost-efficiency, lightweight attribute, temperature resistance, and enhanced durability.
- Based on the packaging type, the bags and pouches sub-segments are projected to observe lucrative expansion over the projected timeframe. The growth can be accredited to the rising demand for zipper pouches of packaging across the globe. Moreover, the rising requirement for lightweight packaging materials is also adding traction to the industry growth.
- The dog food sub-segment occupied the largest share of the industry in 2019, occupying a 31.7% share of the global business sphere. This can be attributed to the surging adoption of dogs as pets for companionship or as service pets. The dog food segment comprises a broad spectrum of products such as treats, snacks, and bones. The Cat food sub-segment follows the dog food segment closely.
- North America is the critical revenue generating market in the global scenario owing to the escalating adoption of pets across the United States and Canada. Europe is the second-largest market for pet food packaging due to the rising preference for pets as a companion and the increasing import of pet food from several countries.
- The augmenting awareness and adoption of the concept of humanization of pets are projected to bolster the industry growth in the Asia Pacific region. The development is majorly driven by the rising preference for pet adoption, increasing focus on the superior quality of packaged foods, and the increasing levels of disposable income in major APAC countries such as India, Japan, and China.
- Prominent players of the industry include Amcor Plc., Constantia Flexibles, Smurfit Kappa, Huhtamaki OYJ, Goglio S.p.A., Mondi Plc., Berry Global Group Inc., AptarGroup, Inc., Ardagh Group S.A, and Transcontinental Inc., among others.
- In 2019, Amcor Plc. launched AmLite Ultra Recyclable, the company’s proprietary packaging product developed with sustainable high-barrier polyolefin film that offers metal-free barrier packaging solutions, thereby drastically reducing the carbon footprint.
- Amcor Plc., in 2020, gained a controlling stake in Bemis Company, Inc., a prominent packaging products manufacturer. The acquisition is set to expand Amcor Plc.’s customer base and presence across the global business sphere. The acquisition will also allow the former to boost its packaging capabilities for a wide range of products, such as pet care products, medicines, food products, and beverages, among others.
For the purpose of this report, Emergen Research has segregated the Global Pet Food Packaging Market on the basis of types of material, packaging type, animal type, and region:
Types of Material Outlook (Revenue, USD Billion; 2017–2027)
- Paper & Paperboard
Packaging Type Outlook (Revenue, USD Billion; 2017–2027)
Animal Type Outlook (Revenue, USD Billion; 2017–2027)
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/pet-food-packaging-market