Jul 28, 2022 (AmericaNewsHour) -- Research Nester published a report titled "Pet food packaging market- Global Demand Analysis and Opportunity Outlook 2020-2028" which delivers detailed overview of the pet food packaging market in terms of market segmentation by product type, by material type, by packaging form, by food type, by animal type, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The market for pet food packaging is anticipated to record a CAGR of around 5.5% over the forecast period 2020-2028. The major key factors accelerating the growth of the market include presence of online retail stores for the sale of pet food products, appropriate information about the food on package and rising population of millennials becoming largest segment for pet owners. Further, improved closure system to keep food fresh along with the different designs of packaging is driving the growth of the market. The packaging form is segmented into bags, cans, pouches and boxes. The pouch segment is anticipated to be fastest growing owing to the availability of food in small packages such as size less than 10 pounds, light weight to reduce the transportation cost and gaining advantage where stiffness is not a primary factor.
"The Final Report will cover the impact analysis of COVID-19 on this industry."
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Based on the regional analysis, the market for pet food packaging is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The pet food packaging market in North America is anticipated to account for the leading share on the back of innovations and uniqueness in packaging in the region, extensive advertisements for the sale of pet food along with the increasing presence of pet food packaging manufacturers. The Asia Pacific region is anticipated to have highest growth rate on the back of advancement in technology which makes training facilities for pets more easily available to the owners along with the trend of humanization.
Increase in the Concerns Related to Health of Pets Along with the Increase in Pet Owners and Recyclable Packaging
The increase in the pet humanization trend and rising concerns for the health of pets is driving the market in positive direction. Further, availability of advanced packaging options such as easy open zipper tops which makes it easy to open the pet food by avoiding cuts from the edges of metal along with the protection of food from corrosion is boosting the market growth. Moreover, superior presentation of the pet food with certain improvements and presence of small sized packaging is driving the demand for pet food packaging. In addition, majority of the pet owners are concerned about proper nutrition with recyclable and environmental friendly packaging for their pets. Hence, these factors will account for the growth in the market over the forecast period.
However, stringent regulations against pet food items and acceptance by FDA for the ingredients used in pet food are expected to operate as key restraint into the growth of trash bags market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the pet food packaging market which includes company profiling of Crown Holdings /zigman2/quotes/202459264/composite CCK -1.18% , Amcor PLC /zigman2/quotes/212673157/composite AMCR -0.18% , Packaging Corporation of America /zigman2/quotes/207413697/composite PKG -1.25% , Sealed Air Corporation /zigman2/quotes/208564360/composite SEE -1.80% , Ardagh Group SA /zigman2/quotes/209258850/delayed CA:ARD -25.00% , Silgan Holdings /zigman2/quotes/203176174/composite SLGN -1.78% , AptarGroup Inc /zigman2/quotes/201205197/composite ATR -0.45% , Winpak Ltd /zigman2/quotes/203957147/delayed CA:WPK -0.97% and Sonoco Products Company /zigman2/quotes/201691559/composite SON +0.66% . The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the pet food packaging market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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