Pet Food Packaging Market Overview, Challenges and Growth Opportunities Analysis till 2023
The pet food packaging market has experienced healthy growth over the forecast period due to the regulations of the government on labeling of the pet food products.
(firmenpresse) - The global pet food packaging market is likely to display a momentous growth in the coming future owing to increase in the trend of pet humanization that provides lucrative opportunities to this industry. Thanks to the American consumers who have willingly opted for premium pet food brands that is leading to the resilient demand for pet food packaging and is surging the growth of this sector. It has also been noticed that there is an acceleration in the number of non-traditional families with no children and combined with a great elevation of disposable income, which is increasing the per-capita pet expenditure for this sector.
The pet food packaging market has experienced healthy growth over the forecast period due to the regulations of the government on labeling of the pet food products. Though metal cans have been highly preferred and are popular choice of packaging, its use has been decreasing because of the demand for plastic packaging and flexible paper. Additionally, the pet food packaging has been witnessing a significant hype due to the growth in small package sizes such as single-serve packs that enables the pet owners to regulate their pet meal portion or weight. These are some of the most important factors that have been continuously shaping the market from its initial stage.
In 2018, Amcor Ltd pledged to enlarge its packaging materials and shift them to reusable and recyclable by 2025. They are also planning to focus more on expanding the use of recycled materials and drive awareness worldwide. This dedication is likely to title the company as a leader in recyclable packaging and will also increase the development of pet food packaging.
Geographically, North America is set to dominate the market owing to the rise in the demand for pet ownership and pet food packaging, which are some of the major dynamics that are driving the growth of the market. Furthermore, the requirement for cubs and tubs are estimated to benefit this industry as it has convenient features such as lightweight in pet food packaging. Additionally, this region is likely to foresee tremendous progress as there is an upsurge of pet population and the inclination to own dogs, cats, fish, reptiles and small mammals are increasing. In the coming years, the pet food packaging will continue to come up with some more product innovations to interest new consumers and investors, for them to continue the domination.
Some of the prominent key participants operating in the pet food packaging market are DS Smith Plc, Berry Global Group Inc., Bemis Co. Inc., Sealed Air Corp., Ardagh Group SA, Ball Corporation, Georgia-Pacific LLC., Packaging Corp. of America, Mondi Ltd., Crown Holdings Inc., Amcor Ltd. and Smurfit Kappa Group Plc.
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Datum: 22.06.2020 - 10:47 Uhr
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