Global Pet Food Packaging Market - Research Study 2016-2020
Covering: This report covers the growth prospects of the global pet food packaging market with segmentation based on product type. The major geographies include APAC, Europe, North America, and ROW. It also includes an insightful analysis of the major vendors in this market such as Amcor, Bemis, Mondi, and Sonoco.
Market overview of pet food packaging
Technavios analysts predict the global pet food packaging market will grow at a CAGR od 8% between 2015 and 2020. The market is expected to witness moderate growth in terms of revenue. The growing use of flexible packagings such as sachets and pouches is prompting vendors to look for innovative and value-added packaging products and solutions.
This market research report emphasizes on growth factors such as a rise in e-commerce for pet products, demand for single-serve, smaller, and re-closable packaging for easy carrying and disposal. The demand for pouch packaging is expected to increase plastic packaging during the forecast period.
Segmentation by product type of global pet food packaging market
In 2015, the bags segment accounted for the major share of the market, and this share is expected to increase at a marginal level by 2020. Technavios market research analysts predict a significant shift in the preference of companies using rigid packaging over to flexible plastic packaging, such as pouches, during the forecast period. As per the forecast, the demand for convenient packaging will emerge as a key growth driver for this segment during the forecast period.
Segmentation by geography of global pet food packaging market
In 2015, North America dominated the global pet food packaging market, followed by Europe, APAC, and ROW. The MEA and Latin America are part of the ROW and are expected to grow rapidly by 2020. North America will retain its dominant position in the market in 2020 as well.
Competitive landscape and key vendors
Vendors compete in terms of costs as it is difficult for them to compete with international vendors in terms of quality, features, and range of offerings. Vendors have high scope for innovation because of the growing demand for high-quality packaged food products. International players are expected to grow inorganically by 2020 by acquiring regional or local players. The key players in the market are expected to diversify their geographical presence with a focus on APAC and the ROW during the forecast period.
The major vendors of the market include:
The other prominent vendors of the market include American Packaging, Ampac, AptarGroup, Ardagh Group, Ball, Berlin Packaging, Berry Plastics, Gateway Packaging, Greif, Graphic Packaging, InterFlex Group, KapStone, WestRock, Mondi Group, Printpack, Reynolds Group Holding, and Silgan.
Key questions answered in the report
What are the key factors driving the global pet food packaging market
What are the key market trends impacting the growth of the global pet food packaging market
What are the various opportunities and threats faced by the global pet food packaging market
Trending factors influencing the market shares for including North America, Europe, APAC and ROW
Key outcome of the five forces analysis on the global pet food packaging market
Growth forecast of the global pet food packaging market until 2020
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report Global Pet Food Packaging Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Pet Food Packaging Market: Amcor, Bemis, Mondi and Sonoco
Other Prominent Vendors in the market are: American Packaging, Ampac, AptarGroup, Ardagh Group, Ball, Berlin Packaging, Berry Plastics, Gateway Packaging, Greif, Graphic Packaging, InterFlex Group, KapStone, WestRock, Mondi Group, Printpack, Reynolds Group Holding, and Silgan.
Commenting on the report, an analyst from Technavios team said: Single-serve packaging products are easy to open and store. This allows pet owners to serve a single portion of food and reduce food wastage. As a result, pet food manufacturers are demanding single-serve packs and pouches. The introduction of single-serve packaging provides huge opportunities for pet food packaging manufacturers to gain larger market shares.
According to the report, the global pet food packaging market is witnessing growth because of an increase in pet ownership and spending on pets. This can be attributed to a rise in per capita disposable income and growing awareness of health benefits of pet food products. For instance, in the US, pet care spending increased by 4.98% in 2014 along with a rise in pet ownership from 52% in 1988 to 65% in 2014.
Further, the report states that raw materials used to manufacture packaging products such as aluminum, plastic, and paper have volatile prices based on their availability. The widening of the demand-supply gap has led to a substantial increase in the prices of raw materials. A rise in the price of raw materials such as plastic resins increases the manufacturing cost of the packaging, leading to a reduction in the profit margin for vendors.
Amcor, Bemis, Mondi, Sonoco, American Packaging, Ampac, AptarGroup, Ardagh Group, Ball, Berlin Packaging, Berry Plastics, Gateway Packaging, Greif, Graphic Packaging, InterFlex Group, KapStone, WestRock, Mondi Group, Printpack, Reynolds Group Holding, Silgan.
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