May 18, 2020
As per the report titled ‘Global Pet Food Packaging Market Size study, by Animal (Dog, cat, Fish, Bird and other animal), by Food (Dry Food, Wet Food, Pet Treats and Other food), by Material Type (Paper & Paper board, Plastic Packaging, Metal and Others), by Packaging Type (Bags, Cans, Pouches, Cartons and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global pet food packaging market amassed USD 9.79 billion in 2019 and is projected to register 4.2% CAGR through 2026.
Pet food packaging is designed for wrapping or enclosing food items manufactured specifically for pet animals, which are available in flexible, rigid, and semi-rigid options. A pet’s health and quality of life mostly depends on their diet; hence, majority of pet owners and pet lovers are concerned about proper nutrition of pets which in turn is prompting manufacturers to avail high quality pet food packaging to ensure freshness and quality of food. This factor coupled with increasing adoption of pets across the globe is driving the growth of global pet food packaging market.
Factors such as simplicity, convenience, product differentiation, transparency in pet food packaging, and increasing expenses for pet food are among other factors that will propel the industry growth in the forthcoming years. However, stringent pet food quality and safety regulations, lack of raw materials and fluctuating product prices may hamper the market growth during the forecast period.
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Considering the regional outlook, the market is divided into North America, Europe, Asia Pacific, and Latin America and Rest of the World. Pet food packaging market in North America currently holds a considerable revenue share owing to rising number of ownership of pets in the region. As per the 2017-2018 National Pet Owners Survey conducted by the American Pet Products Association (APPA), 68% of US households totaling to about 85 million families own a pet.
Meanwhile, Asia Pacific pet food packaging market is slated to witness tremendous growth over the forecast timeline. Pet ownership is rising steadily in India and estimates reveal that there are about 19 million pets in India among which 80% are dogs, followed by cats, and lastly smaller animals like fish and birds. Moreover, around 6,00,000 pets are adopted annually in India. Rapidly growing pet ownership in countries like India, along with humanization of pet food and increasing expenditure in pet food due to rising disposable income are supporting the regional market expansion.
Key players operating in global pet food packaging market are Mondi plc, Amcor plc, Sonoco Products Company, Huhtamaki Oyj, Constantia Flexibles, Berry Global Group, Inc., Ardagh Group S.A., AptarGroup, Inc., Smurfit Kappa, and Goglio S.p.A.