Pet Food Packaging Market Growth 2021: Challenges, Growth Drivers
Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global pet food packaging market size is likely to expand at a CAGR of 5.67% with a value of USD 89.10 million during the forecast period from 2017 to 2023. The pet food packaging market has displayed significant growth during the last few years. The market is believed to maintain the same growth rate during the review period as well. The recent study tells that pet owners are more concerned about the ingredients and product packaging. The owners are spending more on their pets' food to provide them healthy food. Moreover, the competition has increased considerably in the pet food market 2020, which is influencing the market for packaging in the same sector. The continuous rise in pet ownership brings a direct impact on the pet food packaging market at a global level. The forefront players have a strong presence in the regional and international markets. The players compete on the grounds of portfolio, distribution, product differentiation, and pricing, innovation, quality, reputation, and promotion. The players have adopted the key trends such as innovation, brand reinforcement, merger, and acquisition for dominating their competitors in the market.
Market Segmentation
The global pet food packaging market can be divided on the basis of product, food, packaging material, animals, and region.
On the basis of product, the global pet food packaging market can be classified into metal cans, bags, box & cartons, pouches, and others.
On the basis of food, the global pet food packaging market can be classified into wet food, pet treats, dry food, chilled & frozen food, and others.
On the basis of packaging material, the global pet food packaging market can be classified into plastic, consisting of paper & paperboard, and others.
On the basis of animals, the global pet food packaging market can be classified into fish food, cat food, dog food, and others.
On the basis of region, the global pet food packaging market can be classified into Europe, North America, the Asian Pacific, and the Rest of the World (RoW).
Regional Analysis
The regional study of Europe, North America, the Asian Pacific, and the Rest of the World (Row). As per the analysis, the global pet food packaging market is led by the North American region. The high demand for ownership for pet ownership and pet food packaging manufacturer's presence are some of the key factors driving the market in the region. The rise in disposable income has resulted in upgradation of lifestyles and increased awareness towards animals and pet adoption. Additionally, the demand for cups and tubs is likely to be beneficial from the need for convenience features and lightweight in pet food packaging. The second position is attained by the European market, followed by the APAC region, which is estimated to expand at a fast pace and beat the previous record by 2027.
Key Player
The most important players in the global pet food packaging market are Blue Buffalo Co., Ltd., Bemis Company, Inc., Sonoco Products Company, Amcor Limited, Mondi Group, Ampac Packaging, Llc, Huhtamäki Oyj, Winpak Ltd, Sealed Air Corporation, Berry Global Group Inc., Ardagh Group SA, Berry Global Group Inc., Diamond Pet Foods, Nestlé Purina PetCare, and Hill's Pet Nutrition, Inc.,.
Industry News
April 2020: Nestle, a Swiss multinational and world's largest food and Beverage Company, has acquired a UK based pet food brand, called Lily's Kitchen from its private equity owner for an undisclosed cost. Lily's Kitchen has its expertise in 'natural' luxurious wet and dry foods for dogs and cats.
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