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Pet Food Packaging Market To Grab Immense Growth Of Worth $16.50 Billion 2025 With Top Key Players Crown, Amcor Plc; BALL CORPORATION, Bemis Company, Inc.; Proampac; Westrock Company; Mondi; Sonoco Pr

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Pet Food Packaging Market To Grab Immense Growth Of Worth $16.50 Billion 2025 With Top Key Players Crown, Amcor Plc; BALL CORPORATION, Bemis Company, Inc.; Proampac; Westrock Company; Mondi; Sonoco Pr

March 06
04:16 2020
Pet Food Packaging Market To Grab Immense Growth Of Worth $16.50 Billion 2025 With Top Key Players Crown, Amcor Plc; BALL CORPORATION, Bemis Company, Inc.; Proampac; Westrock Company; Mondi; Sonoco Pr

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc. The global pet food packaging market size was estimated at USD 11.41 billion in 2018 and is expected to grow at a CAGR of 5.4% during the forecast period. The increasing consumer preference of convenience over cost has encouraged manufacturers of pet food packaging products to innovate their product offering over the years.

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.

Key players have deployed various strategies to stay abreast of the competition in the industry. Prominent among such strategies are mergers & acquisition, product differentiation, and capacity expansion. Furthermore, these companies have established long-term supply agreements with pet food makers to ensure a steady demand for their product offerings.

Crown, Amcor plc; BALL CORPORATION, Bemis Company, Inc.; ProAmpac; WestRock Company; Mondi; Sonoco Products Company; and Silgan Holdings Inc are some of the prominent players in the market. These companies operate through a well-established network of distributors across the globe.

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https://www.grandviewresearch.com/industry-analysis/pet-food-packaging-market/request/rs4

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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.

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

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.

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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.

Metal emerged as the largest material segment in 2018 with a market share of nearly 59%. This segment is expected to retain its pole position throughout the forecast period. The growth of this segment is driven by the increasing consumption of metal cans across the globe, most notably in North America. These cans are preferred by brands principally for their strength and impact resistance. Metal cans, however, are expected to be increasingly substituted by their plastic-based flexible packaging counterparts amidst rising concerns regarding the production and consumption of plastic-based products. From a packaging and manufacturing standpoint, plastic-based products such as stand-up pouches and bags help achieve economies of scale while enhancing the look of the overall package.

Access complete  Pet Food Packaging Report Portfolio By Grand View research, Inc.

In terms of product, the industry is classified into cans, bags & pouches, folding cartons, and plastic bottles & jars, among others. Cans dominated the market in 2018 with a revenue of over USD 6 billion. The demand for cans is most notable in North America. .Recent innovations in canning has contributed significantly to the growth of the segment. In addition, recent years have witnessed manufacturers to have introduced unique and seasonal flavors in cans to push sales. For instance, Merrick Pet Care, a U.S.-based manufacturer has been offering seasonal recipes namely, New Year’s Eve Paw-ty, and Howl O’Ween Stew in cans over the years.

Bags & pouches segment is expected to grow at the fastest rate over the forecast period. Reclosable stand-up pouches, specifically, has been gaining popularity around the world and are likely to increasingly supplant their metal counterparts shortly. Other major substitutes for metal cans are cups and tubs. The rising sales of these substitute products can be attributed to the increasing demand for light weight packaging materials in the industry.

Grand View Research has segmented the global pet food Packaging market on the basis of material, product, animal type, and application.

Pet Food Packaging Material Outlook (Revenue, USD Million; 2014 – 2025)

  • Paper & Paperboard
  • Plastic
  • Metal
  • Others

Pet Food Packaging Product Outlook (Revenue, USD Million; 2014 – 2025)

  • Cans
  • Bags & Pouches
  • Folding Cartons
  • Plastic Bottles & Jars
  • Others

Pet Food Packaging Animal Type Outlook (Revenue, USD Million; 2014 – 2025)

  • Dog
  • Cat
  • Fish
  • Others

Pet Food Packaging Application Outlook (Revenue, USD Million; 2014 – 2025)

  • Dry Food
  • Wet Food
  • Pet Treats
  • Frozen Food

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Metals are extensively employed to manufacture cans. They are also used in combination with other materials such as plastics and paper & paperboard. In this regard, metals find application in the form of caps and closures. Metals are preferred for their structural strength and their ability to extend the shelf life of products on retail shelves.

Concerns regarding low recycling rate of metal cans has been restricting the growth of the metals segment over the years. Despite the fact that most cans are made using aluminum, which can be recycled infinitely, various studies conducted around the world suggest that globally less than 20% of cans (aluminum) are recycled every year. Various prominent pet food manufacturers including U.S.-based Nestlé Purina have taken initiatives to educate pet owners about the importance of can recycling.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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