OCT 30 2020: The global Pet Food Packaging market size is projected to reach USD 16.50 billion by 2025, expanding at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. Pet food packaging is becoming increasingly popular among pet food manufacturing companies focusing on capturing brand loyalty.
The industry has evolved over the years with both international and domestic packaging suppliers looking to offer scientifically advanced and developed materials/ products to their clients. The upshot of offering packaging solutions, however, remains to protect the aroma, freshness, flavor, and shape of packaged products.
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The industry is likely to witness high penetration in the cat food packaging space. The number of cat owners across the globe has considerably risen over the years. This, in turn, has been fueling the demand for effective packaging products, most notably in the wet cat food segment. Despite the dominance of the dog food packaging segment in the overall market, the cat (animal type) segment is expected to witness high growth in North America and Europe over the forecast period.
Rising popularity of super-premium packaging and increasing export of pet food products are some of the key driving factors in the industry. The demand for super-premium packaging is attributable to the focus of pet food brands on product differentiation. Super-premium food is being increasingly preferred by consumers across the globe owing to rising awareness regarding the health of pets.
Bags & pouches is likely to exhibit robust growth over the forecast period. These products are being increasingly preferred for their ease of use and functionality. From a manufacturing and marketing standpoint, these products, specifically stand-up pouches, enhance the appeal of products at retail shelves in comparison with their metal-based counterparts. The production of bags & pouches also helps manufacturers achieve economies of scale.
North America dominated the industry in 2018 with a share of over 37%. This region is forecast to retain its pole position throughout the forecast period. The U.S. was observed to be the largest market for pet food packaging in this region. The presence of various internationally reputed packaging suppliers has further strengthened the North American market.
Further key findings from the report suggest:
- In terms of material, plastic segment is expected to grow at the fastest rate over the forecast period owing to rising popularity of pouches and bags in the pet food industry
- Cans emerged as the largest type segment in 2018. Cans are predominantly used to package cat food products
- In terms of animal type, the cat segment is grow at the fastest CAGR of 5.7% over the forecast period. Rising adoption of cats in countries such as Japan is expected to boost the demand for cat food packaging in the foreseeable future
- North America is expected to retain its pole position in the industry throughout the forecast period. The presence of prominent manufacturers in this region is likely to strengthen the position of the North American pet food packaging market
- Research & development activities are likely to surface in the industry over the forecast period with prominent market players keen on global expansion
- The competitive landscape of the industry represents intense rivalry among domestic and international players. Product differentiation is expected to remain one of the key strategies among these players over the forecast period
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Table of Contents
Chapter 1 Methodology and Scope
1.1 Information Procurement
1.1.1 Purchased Database
1.1.2 Internal Database
1.1.3 Secondary Sources
1.1.4 Third Party Perspective
1.1.5 Primary Research
1.2 Information Analysis & Data Analysis Models
1.3 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Insights
2.2 Segmental Insights
2.3 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Related Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Value Chain Analysis
3.3.1 Raw Material Trends
3.3.1.1 Major Raw Material Analysis
3.3.1.2 Procurement Best Practices
3.3.2 Manufacturing trends
3.3.2.1 Technology Trends
Continued………………
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Global Pet Food Packaging Market was valued at US$ 8.38 Bn in 2017 and is expected to reach US$ 14.95 Bn by 2026, at a CAGR of 7.5% during a forecast period.The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence.
The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in pet food packaging market.The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.Based on the material type, paper & paperboard segment is estimated to hold the largest share in the global pet food packaging market during the forecast period.
In addition, rising demand for recyclable packaging solutions for various end-use products is expected to surge the global pet food packaging market growth in the forecast period.
Growing pet care industry and rising demand for advancement in this industry, which is projected to surge the global pet food packaging market growth in a positive way.
Various government regulations and policies have also been contributory in surging the market with a greater focus on labeling and customer information.In terms of region, North America is estimated to hold the largest share in the global pet food packaging market during the forecast period owing to a developed economy, hygiene lifestyles of consumers, and widespread demand for pet ownership in this region.
Pet Food Packaging Market:WiseGuyReports.com adds “Global Pet Food Packaging Market Size, Status and Forecast 2020-2026” reports to its database.Executive SummaryGlobal Pet Food Packaging Market is valued approximately USD 9.79 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.20% over the forecast period 2019-2026.
Pet food packaging is used for the wrapping or enclosing food items produced specifically for animals (pets).
The market is expected to increase over the forecast years due to the increasing adoption of pets over the forecast years.
Also, pet ownership is steadily increasing in India and estimates show there are around 19 million pets in India which includes around 80 per cent of these are dogs, followed by cats and then smaller animals like fish and birds.
Moreover, Convenience, simplicity, and product differentiation with transparency in pet food packaging along with rise in pet food expenditure are also the factors propelling the growth of market over the forecast year.
However, Stringent pet food quality and safety regulations and Shortage of raw materials and fluctuation in their prices are the factors hamper the growth of market over the forthcoming period.Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/5272708-global-pet-food-packaging-market-size-study-byThe regional analysis of global Pet Food Packaging market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World.
