North America PET Food Packaging Growth Status and Outlook 2021 to 2026 - Amcor PLC, America Packaging Corporation, Berry Global Inc., Coveris Holdings SA, Crown Holdings

The “North America PET Food Packaging Market” Research Report 2021-2026 is an in-depth study of the market, along with an analysis of its key segments. The relationship is built through extensive primary and secondary research. In-depth market data is generated through interviews and data collection from industry experts and professionals. The study is a detailed document on key aspects of the markets including trends, segmentation, growth prospects, opportunities, challenges, and competitive analysis.

The North America PET Food Packaging Market is expected to grow at a CAGR of 3.47% during the forecast period 2021 - 2026.

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The research report is a compilation of key data with regards to the competitive landscape of this vertical and the multiple regions where the business has successfully established its position.

Top Companies in the North America PET Food Packaging Market: Amcor PLC, America Packaging Corporation, ProAmpac LLC, Berry Global Inc., Coveris Holdings SA, Crown Holdings Inc., Eagle Flexible Packaging, Excel Packaging Corp., Graphic Packaging International Inc., Mondi PLC, Silgan Holdings Inc., Sonoco Products Company, Trivium Packaging, Winpak Ltd., and Other.

Industry News and Update:

- February 2020: Amcor PLC in the multivitamin category showcased the development and launch of the PET container that is made from 100% post-consumer recycled content (PCR) resin. The company created the new clear bottle in two sizes 100 cubic centimeters and 150 cubic centimeters for Ritual, a health meets technology company that reimagined the multivitamin.

Market Overview:

North America is one of the fastest-growing pet food packaging markets. The presence of large packaging companies, such as Amcor Ltd and Mondi PLC, drive investments for innovation and research and development activities in the region. Major trends for packaging on the consumption end incline toward the demographics and demand for convenience packaging

- The increasing pet humanization and pet ownership, the emergence of private-label store brands, and growing urbanization are some of the major driving forces propelling the growth of the North American pet food market. Further, the increase in the number of non-traditional households with no children, coupled with high levels of disposable income, is boosting the per-capita pet expenditure for this market.

- According to the Flexible Packaging Association, the United States accounts for USD 135 billion in the world’s entire packaging industry. Pet food, in particular, adopted flexible packaging in large numbers, due to convenience factors, such as innovative slider closures, pouch packaging, and fitments for pet food. As quoted by the American Pet Products Association, the sales of pet products through online channels witnessed a 57% growth during 2018-2019 in the United States.

- For instance, according to American Pet Products Association (APPA), the sale of pet foods and treats in the US market is around USD 36.90 billion in 2019, and it is estimated to increase to USD 38.40 billion in 2020. The growth of pet treats in 2020 is around 4.1% when compared to 2019.

Key Market Trends:

Plastic Packaging is expected to Hold Major Market Share

- Plastic packaging is prominently used for the pet food packaging, from airtight wraps to shelf-stable bottles and containers. In this industry, plastics have also driven innovations in packaging design. For instance, modified atmosphere packaging (MAP) helps preserve pet food freshness by capturing a reduced-oxygen air mixture in a plastic package. These advanced and intelligence packaging techniques play a critical role in ensuring not to compromise the integrity of the product while increasing its shelf life drastically.

- In the United States, pet food expenditure is increasing because of the widespread demand for pet ownership. Advances in technology are making boarding, grooming, and training facilities more easily accessible to the owners. The United States is a pioneer in this market with increasing expenditures, thereby driving the plastics pet food packaging market in the country.

- Moreover, the region is also expected to see a rise in plastic packaging used for the pet foods, primarily owing to the recent lockdown that has increased the need for more long-term food storage solutions. With the lockdown, there has been a considerable rise in the food delivery and takeaway services, which is expected to drive the market.

- However, according to Pet Sustainability Coalition (PSC), an estimated 300 million lbs. of plastic waste comes from pet food and treat packaging per year in the United States. Additionally, many of those packages are made from unrecyclable or hard-to-recycle materials, making the cost of recycling more than the value of those materials. PSC also projects at least 99% of all pet food packaging in the US is thrown away instead of being recycled. To tackle this issue, Flex Forward launched a pilot program to inform consumers, retailers, manufacturers, and packaging suppliers about the importance of reducing the overall environmental impacts of plastic packaging in the pet industry and fuel sustainable solutions for the future.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a North America and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: The North America PET Food Packaging Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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