“Pet Food Packaging Market Share – Growth, Trends, And Forecast (2019 – 2023)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
Major Companies Include are:
Amcor Limited, American Packaging Corporation, Ampac Packaging, Ball Corporation, Bemis Company, Coveris Holdings, Crown Holdings, Meadwestvaco Corporation, Mondi Group, Sonoco Products, Berry Plastics, Silgan Holdings and others.
The global pet food packaging market was valued at USD 8.42 billion in 2017 and is expected to reach a value of USD 12.31 billion by 2023 at a CAGR of 6.53% over the forecast period (2018 – 2023).
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The global pet food packaging market has witnessed a healthy growth over the forecast period owing to the growing trend for premium pet food coupled with government regulations on labeling of these pet food products. Although metal cans have been a preferred and popular choice of packaging, their use has fallen owing to a greater inclination towards flexible paper and plastic packaging. For example, stand-up pouches saw a 50% growth from 2006 to 2012. Also, there has been a significant growth in smaller package sizes, which include single-serve packs, as they enable pet owners to manage their pets weight or meal portions. Government regulations have also been instrumental in driving the market with a greater focus on labeling and customer information. For instance, the New York State Department of Agriculture and Markets Commercial Feed Laws and the Model Pet Food Regulations of the Association of American Feed Control Officials (AAFCO) require each package of food, snacks, or treats for pets (dogs and cats) or specialty pets (animals normally kept in a cage such as hamsters, parakeets, reptiles, or fish) to have a label printed on or affixed to the package. These factors have been instrumental in shaping pet food packaging market over the forecast period.
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United States to Hold the Largest Market Share
United States is observed to hold the largest share of the pet care market in the world, owing to the growing pet population and an increasing inclination by the Americans to own dogs, cats, reptiles, small mammals, and fish. The continuing trend of pet humanization and willingness of American consumers to opt for premium pet food brands, the pet food market has proved resilient, allowing for continued growth in the sector. Further, the increase in the number of non-traditional households with no children, coupled with high levels of disposable income is boosting the per-capita pet expenditure for this market. Consequently, pet owners are willing to pay for more value-added products and resulting in a decline of economy pet food with people moving towards branded product offerings. There has also been a rise in internet retailing with the increasing penetration of e-commerce, although specialty pet superstores are still the top retail location for pet food purchases. All these factors are expected to be instrumental in driving the pet food packaging market in the United States.
Increased Demand for Premium and Branded Products
The growing inclination towards premium pet food and pet treats is expected to significantly contribute to the pet food market over the forecast period. This trend has been buoyed by the demand for pet food resembling human meals, with an emphasis on added value and convenience. In particular, some pet foods resemble ready meals which can also be conveniently stored and consumed when required. The addition of pet food in the modern grocery retail industry means that pet food is no longer found only in specialty stores. This is driven by the growing number of consumers that are willing to pay a substantial premium for products that are labeled as grain free, raw, hypoallergenic, human grade, or which contain super-food ingredients. In addition, the availability of more private and branded pet food choices available has increased the consumer awareness of these premium pet foods. Moreover, research indicates that pet owners tend to be more loyal to particular brands in the pet food industry than in any other food industry, thus making branding of the product a critical factor in this market.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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