Global Pet Food Packaging Market Forecast 2021-2028
The global pet food packaging market is projected to record a CAGR of 7.34% during the forecast period, 2021-2028. The rising demand for pet food and the branding & premiumization of pet foods are the major growth drivers.
Packaging plays an essential role in the pet food industry's growth, particularly premium products. The container or bag facilitates sustainable options and personalized pet diets and ingredients for dog and cat owners.
There is a growing demand for pet food, attributed to the increasing pet ownership. For instance, in Europe, pet ownership grew to ~88 million in 2020 from ~70 million in 2010. In regions like Asia-Pacific, the growing disposable income and the rising nuclear families contribute to pet ownership.
Also, pet food packaging has a high correlation with the branding and sales of pet foods. Companies are offering innovative designs and packaging to gain brand recognition. Besides, packaging hugely impacts consumer perception. Moreover, the increasing humanization of pets is set to influence the marketing and sales of pet foods. However, the growth of the global pet food packaging market is hindered by volatile raw material prices and food safety regulations.
The global pet food packaging market growth analysis includes the geographical assessment of North America, Europe, Asia-Pacific, and Rest of World. Asia-Pacific is the fastest-growing region in the global market, accredited to the growing investments and rapid urbanization.
The market players sustain the competitive market through innovations and product differentiation due to the specification of the packaging material differing in plastic packaging. Constantia Flexibles, Amcor Plc, American Packaging Corporation, Berry Global Group Inc, etc., are among the leading companies in the market.
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