Press release
Pet Food Packaging Market Size, Share, Industry, Forecast (2024-2031)
Pet Food Packaging Market
The Pet Food Packaging Market is forecasted to reach a Compound Annual Growth Rate (CAGR) of 4.5% during the period of 2024-2031, with a projected increase from USD 723.8 million in 2022 to USD 1,172.1 million by 2030. This growth is driven by factors such as the increasing adoption of pets, rising pet food expenditure, and the demand for premium packaging materials.
Market Dynamics and Trends:
Increasing Pet Adoption: The market is witnessing growth due to the increasing number of pet owners globally, particularly in regions like the US, EU, and China, where over 500 million families own dogs and cats.
Premium Packaging Demand: There's a growing demand for premium packaging materials in the pet food industry to preserve product quality, enhance consumer experience, and meet stringent safety standards.
To know more insights: https://www.datamintelligence.com/download-sample/pet-food-packaging-market
Segment Analysis:
Plastics Material Packaging Segment: Dominated the market in 2021, driven by the rising demand for flexible packaging, such as stand-up bags and pouches, and the growing acceptance of plastics in the industry.
Dog Segment: Held the highest revenue share in 2021, attributed to the large market share of dog food products and the significant dog population in countries like China, the US, and the European Union.
Geographical Share:
North America: Dominated the market in 2021, led by factors such as the rise of private label retail brands, increasing pet ownership, and high pet food expenditures.
Asia Pacific: Expected to witness significant growth, particularly in countries like China, Japan, and India, driven by factors like relaxation of pet ownership regulations and increasing disposable incomes.
To access the complete report: https://www.datamintelligence.com/research-report/pet-food-packaging-market
Competitive Landscape:
The market is highly competitive and fragmented, with major players including Amcor plc, Mondi plc, Sonoco Products Company, among others. Companies are focusing on product launches, acquisitions, and research and development activities to develop innovative and sustainable packaging solutions.
Key Developments:
Amcor plc launched a recyclable retort pouch for pet food in collaboration with Nestle, improving environmental sustainability.
Amcor also introduced OmniPack stock PET bottles for e-commerce-ready packaging, designed to increase capacity and reduce downtime.
Overall, the pet food packaging market is poised for significant growth driven by factors like increasing pet ownership, demand for premium packaging materials, and technological advancements in packaging solutions.
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