LOS ANGELES, Jan. 08, 2020 (GLOBE NEWSWIRE) -- The global pet food packaging market is expected to grow at a CAGR of around 6.3% during the forecast period 2019 to 2026 and reach the market value of around US$ 13.7 billion by 2026.
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North America dominated the global pet food packaging market in the year 2018. The region has experienced the potential growth owing to the presence of pet food packaging companies such as Ampac Packaging, Llc, Sonono Products Company and Mondi Group among others. The presence of a large customer base along with the growing demand for quality pet food items is additionally accelerating the regional market growth. Moreover, innovation and development in pet food packaging and growing urbanization, increase in penetration of e-commerce, and growing production of pet food in the US and Canada are expected to enhance the market size. This also expected to open investment opportunities in the global market for the manufacturers in the coming years. The Europe region is expected to exhibit a second-largest share in the pet food packaging market. According to the 2017-2018 National Pet Owners Survey, conducted by the American Pet Products Association (APPA), 68% of the US households (about 85 million families) own a pet. The increasing number of private label store brands in the region is expected to contribute to market growth. Additionally, growing adoption of pets, increase demand for production and consumption of pet food and an increase in disposable income of pet owners in this region further expected to further propel the growth of the market. Furthermore, a growing number of pet food packaging manufacturers, animal feed producers, a growing number of nuclear families, growing awareness towards the humanization of pets further grow the demand for pet food packaging in the region over the forecast period.
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Asia-Pacific is expected to register the highest CAGR during the forecast period. The growing pet food industry, high research and development from pet food manufacturers, changing lifestyle of consumers, and growing number of pet owners along with rapid urbanization further expected to boosts the demand for pet food packaging in the region during the forecast period.
Dry food has dominated the food type segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period from 2019 to 2026. An increase in demand for dry foods among dogs and cats and rising life of dry food other than food type is further expected to raise the segment over the forecast period.
Paper & paperboard segment dominated the pet food packaging market on the basis of material type in the year 2018. The paper & paperboard segment accounts of the largest share in the market and held for more than 32% of the total market in 2018. The major factors that are driving the growth of this segment are the rising demand for high barrier properties, cost-efficient material, increase in awareness regarding the environment, and rising demand for recyclable material. This expected to enhance the dominance of the paper & paperboard segment in the global market over the forecast period.
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Dogs segment dominated the pet food packaging market on the basis of animal type in the year 2018. The growing demand for high-quality foods, an increase in purchasing power of consumers, growing health awareness among consumers, and growing innovation and development from manufacturers in dog pet food further expected to raise the segment during the forecast period.
Bags segment dominated the pet food packaging market on the basis of packaging type in the year 2018. The bags segment accounts of the largest share in the market and held for more than 37% of the total market in 2018. The major factors that are driving the growth of this segment are the rising demand for functionality and ease of use, used for marketing as stand-up pouches, enhance the appeal of the product in retail shelves, and rising demand for flexible packaging. This expected to enhance the dominance of the bags segment in the global market over the forecast period.
Some of the leading competitors are Amcor Limited, Sonoco Products Company, Constantia Flexibles, Ampac Packaging, Llc, Bemis Company, Inc., Bosch Packaging Technology, Goglio SPA, Winpak Ltd, HuhtamäkiOyj, Ampac Packaging, Llc, Mondi Group.
Some of the key observations regarding pet food packaging industry include:
- In May 2019, Amcor Limited launched new packaging product named as AmLite Ultra Recyclable. This new product high-barrier polyolefin film that significantly reduced the packaging’s carbon footprint.
- In January 2019, Amcor Limited focuses on development of recyclable packaging products and recyclable packaging materials. This new product development and enhancement of new products further increase the new product in pet food packaging and enhance its customer base.
- In September 2019, Amcor Limited opened two e-commerce testing laboratories in the US and Belgium.This new facility help customer’s harness significant online sales growth, mainly in pet food, sauces, and home cleaning products. This helps to enhance customer base of the company and increase its brand identity.
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