Global Pet Food Packaging Market: Snapshot
The global pet food packaging market is a major market in developed countries, where the pet care industry has grown steadily following growing demand for pet ownership and rising incorporation of advanced pet care protocol. The pet food packaging market has thus become important due to the effect it can have on the quality of pet food. Pet food packaging needs to be convenient for the owner to carry and also has to maintain the quality of the product to ensure safety of the pet. The pet food packaging industry is thus likely to grow at a robust pace in the coming years, driven by the rising demand for advancements in the pet care sector.
The report presents a comprehensive overview of the global pet food packaging market based on detailed analysis of the historical growth trajectory of the market, which provides a solid base for growth projections over the 2017-2022 forecast period. According to Transparency Market Research, the global pet food packaging market is likely to rise to US$10.7 bn by 2022 from a 2017 value of US$8.3 bn, exhibiting a strong 5.2% CAGR therein.
Plastics to Remain Dominant Material in Pet Food Packaging Market
The global pet food packaging market is segmented by material into plastics, paper and paperboard, metal, and others. Of these, plastic is likely to remain the leading material utilized in the global pet food packaging market in the coming years due to its widespread use and convenience to a range of user demographics. The plastics segment represented 40.8% of the global pet food packaging market in 2017 and was valued at US$3,391.8 mn. The segment is likely to exhibit a strong 6.3% CAGR over the 2017-2022 forecast period to emerge with a market share of 43% by 2022.
North America to Dominate Regional Standings of Pet Food Packaging Market
Geographically, North America is set to dominate the global pet food packaging market in the coming years. The dominance of North America in the global pet food packaging market can be attributed primarily to the widespread demand for pet ownership. The North America pet food packaging market is likely to be valued at US$2,688.9 mn by the end of 2017 and further rise to US$3,472.5 mn by 2022. The pet food packaging market in the region is likely to exhibit a steady 5.2% CAGR over the 2017-2022 forecast period.
Europe is also a dominant contributor to the global pet food packaging market and is set to remain a key market for pet food packaging market players in the coming years. The Europe pet food packaging market is set to rise to a valuation of US$2,877.5 mn by 2022, exhibiting a 4.9% CAGR over the 2017-2022 forecast period.
APEJ, Japan to Make Key Contributions, APEJ to Exhibit 6.2% CAGR
Asia Pacific except Japan is expected to emerge as a promising market for pet food packaging manufacturers over the 2017-2022 forecast period, with the region set to exhibit a robust 6.2% CAGR therein. The Japan market for pet food packaging is also likely to be a key contributor to the global market, with the region set to exhibit a 3.2% CAGR over the 2017-2022 forecast period to reach a valuation of US$403.7 mn.
Leading players in the global pet food packaging market include Amcor Ltd., Sealed Air Corp., Berry Global Group Inc., DS Smith Plc, Ball Corporation, Packaging Corp. of America, Crown Holdings Inc., Smurfit Kappa Group Plc, Ardagh Group SA, Mondi Ltd., Bemis Co. Inc., and Georgia-Pacific LLC.
Global Pet Food Packaging Market: Overview
The developing tendency towards premium pet food and pet treats is relied upon to fundamentally add to the pet food packaging market in the forthcoming years. This pattern has been floated by the interest for pet food taking after human food, with an accentuation on included esteem and comfort. Specifically, some pet foods take after prepared food which can likewise be suitably consumed and stored when required. The expansion of pet food in the advanced basic need retail industry implies that pet food is never again discovered just in claim to fame stores.
The pet food packaging market is categorized by packaging material, application, and end use to deliver an extensive overview of the domain of the market for pet food packaging. On the basis of packaging material, the pet food packaging market is categorized into metal, plastic, and paper and paperboard. On the basis of end use, the pet food packaging market is categorized into cat food, and dog food. On the basis of applications, the global pet food packaging market is categorized into frozen food, pet treats, dry food, and wet food.
Global Pet Food Packaging Market: Notable Development
Some of the key developments in the pet food packaging market are:
- In January 2018, Amcor has vowed to build up the total packaging to be recyclable by 2025. Moreover, it has intended to concentrate on essentially increasing its use of reused materials and driving consistently more recycling of packaging the globally. This responsibility is gone for building up the organization as an innovator in recyclable packaging.
- In November 2017, Berry Global Group procured Clopay Plastic Products Co. Inc., an auxiliary of Griffon Corporation, for USD 475 million. The organization is gone for growing the Berry's impression by utilizing Clopay's markets over the globe with areas in the United States, Germany, Brazil, and China.
Prime enterprises running the pet food packaging market are Silgan Holdings, Sonoco Products, Mondi Group, MeadWestvaco Corporation, and Berry Plastics.
Global Pet Food Packaging Market: Drivers & Restraints
Rising Demand for Single-serving Packaging Boost the Market
Growing base in ownership of pets is relied upon to make substantial prospects in the pet food packaging market in the forthcoming years. At the same time, social protocols and legal concerns are prompting progressive nourishment and care in the global market for pet food packaging. Rising government guidelines prompting for labelling better and substantial amount of data to owners of pet is driving the pet food packaging market. Moreover, owners of pets keep on requesting for single-serving packaging. The packaging speaks to a vast prospect for a specialty yet broader purchaser base.
Stringent Pet Regulations can hinder growth
Rising awareness about quality pet meals and treats are prospects for the pet food packaging market. Government guidelines have assumed a key job in driving this development. In any case, stringent pet guidelines are additionally expected to represent a test to the pet food pressing market in the upcoming years.
Global Pet Food Packaging Market: Geographical Outlook
U.S. is seen to hold the maximum revenue share of the pet food packaging market globally. This is due to the developing pet populace and an expanding tendency by the Americans to possess small mammals, cats, dogs, reptiles, and fish. The growing pattern of pet humanization and readiness of American users to select premium branded pet food, the pet food packaging market has featured to be strong. This also enables constant development in the market.