pet food packaging market to reach $ 19.72 billion by 2028 | The increasing demand for advanced materials for pet food packaging is an important factor influencing the growth of the market
NEW YORK, September 7, 2021 / PRNewswire / – The World pet food packaging market should value $ 19.72 billion by the end of 2028 from 10 billion dollars in 2020, with a CAGR of 4.5% over the forecast period. This market growth is attributable to factors such as the growing inclination of people towards the adoption of pets coupled with the willingness to pay for adopting a better convenience for them. However, growing concerns about the use of plastic and increasing pollution level due to unorganized management of plastic waste on a global scale are key factors restraining the growth of the food packaging market. pets.
Nevertheless, key players are increasingly introducing more sustainable packaging. The increasing adoption of more sustainable packaging to comply with government standards and consumer demands is expected to fuel the growth of the pet food packaging market during the forecast period. For example, ProAmpac introduced the PRO-EVP multi-wall bags which are durable and increasingly used for packaging pet food. Moreover, increasing income level globally, simple and ready-to-use feed and packaging, and changing lifestyles are driving the growth of the global feed packaging market from company.
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Main conclusions of the report
- In February 2020, Silgan Holdings has acquired Cobra Plastics Inc. Through this acquisition, the companies are looking to combine with Cobra’s line of over-capsulation products.
- Based on the type of packaging, the pouch segment of the pet food packaging market is expected to grow at the fastest CAGR during the forecast period owing to the increasing demand for pouches of various brands of pet food packaging. pet food. In addition, the various types of packaging are available, such as small pouches, single-use packaging, and excellent display appeal, which provides convenience over the type of packaging material and fuels the growth of the product. market during the forecast period.
- By food type, the dry food segment is expected to hold a significant share of the pet food packaging market and hold up over the forecast period. This segment growth is attributable to the fact that dry foods cause fewer spills associated with dry foods that are easier to handle than wet foods.
- By material type, the plastic segment is expected to dominate the pet food packaging market in terms of revenue and is expected to maintain its dominance during the forecast period. This growth is attributable to its durability, lightness, versatility and cost effectiveness.
- By animal type, the dog food segment is expected to remain the largest segment in terms of revenue throughout the projection period.
- At the regional level, Europe is estimated to hold the second share of the pet food packaging market due to greater adoption of pets in the region and particularly in the UK. However, Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to the increasing adoption of pets in the region coupled with the improved affordability of improved pet foods in the region .
- The pet food packaging market exhibits a highly fragmented and growing competitive landscape. The global pet food packaging market includes key players including Mondi Plc, Amcor Plc, Constantia Flexibles, Sonoco Products Company and Huhtamaki OYJ.
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COVID-19 impact assessment
- Social distancing and restrictions have severely disrupted businesses and operations
- The closures have caused disruption in transportation and logistics
- impacted manufacturing and mining operations around the world
- Took a toll on the economy of various countries
- Caused a sudden and drastic slowdown in economic activity
- Agriculture, fishing, dairy and other disrupted sectors
- Caused job loss and financial crisis
- The impacts on supply have worsened further due to the drop in disposable income
- The emergence of variants continues to cause concern and impact normal routines
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For the purpose of this report, Reports and Data has segmented the global autoclave packaging market on the basis of packaging type, packaging, process, end-user, and region:
Based on Outlook Packing Form (Revenue, USD Billion; 2018-2028)
- Boxes / Cartons
Based on material outlook (revenue, billion USD; 2018-2028)
- Paper and cardboard
- Other materials
Based on animal outlook (revenue, billion USD; 2018-2028)
- Dog food
- Cat food
- Bird food
- Fish food
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Based on Food Type Outlook (Revenue, USD Billion; 2018-2028)
- Dry food
- Wet food
- Pet treats
By region Outlook (Revenue, Billions USD; 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of the APAC
- Saudi Arabia
- United Arab Emirates
- Rest of the MEA
- Latin America
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Some points on how the report benefits stakeholders:
- Reports include historical (2018-2020) and forecast (2021-2028) data points, revenue and CAGR in tabular, figure and graph form, with detailed and qualitative written information supporting each. .
- The revenue breakdown is provided for each segment in these formats for the world, region and for each country in the respective region for each year between 2018 and 2028.
- The report contains information on growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains the profiles of the major companies operating in the market along with their respective revenue and operating segments, geographic scope, market footprint, corporate headquarters, growth rate, recent developments, product / service. , their expansion strategies, their investments in expansion, etc.
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