NEWARK, Del, Jan. 30, 2023 (GLOBE NEWSWIRE) — As per the recent research report by FMI, a market research and competitive intelligence provider, sales of are estimated to reach a value of US$ 5.06 billion by 2033, recording a CAGR of 4.4% over the forecast period.
The rising focus on pet health has boosted the market for functional pet food. Pet owners are looking for food products that have higher nutritional value. The rising awareness about healthy pet food is fueling the demand in the functional pet food segment. These factors are creating lucrative growth opportunities for new and existing players. They are encouraging market players to launch a product enriched with all essential vitamins and minerals.
Functional foods contain a number of the necessary nutrients for healthier pets. In order to grow their business, manufacturers should concentrate on the introduction of new functional food products. The manufacturers of pet food protein ingredients situated in Europe can benefit greatly from the increased consumer interest in new protein-based nutrition. However, it is anticipated that the expansion of this sector will be hampered by fluctuating raw material prices and a decline in free trade in Europe.
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The development of the pet food protein components market in Europe is anticipated to be hampered by regulatory frameworks and interventions, significant capital expenditures necessary for pet food production, and the threat of pet food products that are not authentic.
Key Takeaways from Market Study
- The Europe Pet Food Packaging market is estimated to be valued at US$ 3.29 billion in 2023.
- In Europe, the conventional sub-segment holds a significant market share of 50.6% of the Pet Food packaging market by 2023.
- In the product type segment, Kibble/Dry holds the considerable market share of 25.0% of the Pet Food packaging market.
- In the pet type sub-segment, dog segment holds a significant market share of 55.0% of the pet food packaging market.
“Majority of the key players are focusing on the acquisition of small players, whereas small-scale companies need to make significant investments in R&D to introduce new products and enhance their presence across the globe.”, -says a lead analyst at Future Market Insights
Pet food has a strong competitive market in Europe. As more pets are being adopted, people in Europe are looking for luxury pet foods that are nutrient-dense and have useful qualities. The demand for pet food in the region is driven by all of these causes. While the demand for pet food has remained stable in the majority of EU nations, the pet food business in Eastern Europe is still in its infancy.
Some of the leading companies offering Europe Pet Food Packaging Market include: Berry Global Inc., Sonoco Products Company, Constantia Flexibles, Huhtamaki OYJ, Smurfit Kappa, Ardagh Group S.A, AptarGroup, Inc, Goglio S.p.A
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- Paper & Paperboard
By Product Type:
- Bags & Pouches
- Folding Cartons
- Blister Pack
- Plastic Bottles & Jars
By End Use:
- Dog Food
- Cat Food
- Fish Food
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Table of Content
1. Executive Summary | Europe Pet Food Packaging Market
1.1. Europe Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, and packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations.
With a repository of 1,000+ reports, the team has analysed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
Explore Research-Related Reports of Packaging:
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: Food Packaging Market by Material, Packaging Type, Application & Region – Forecast 2022 – 2032
: Global Industry Analysis 2014 – 2018 and Opportunity Assessment 2019 – 2029
: PET Materials Packaging Market by Product Type, Packaging Type, End-Users & Region – Forecast 2022 – 2032
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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