Pet Food Packaging Market Rising Trends, Key Leading Players, Trends Analysis, Industry Share And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Pet Food Packaging Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The pet food packaging market size has grown strongly in recent years. It will grow from $11.07 billion in 2023 to $11.81 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to expansion in pet population, rise in demand for convenience high-quality food products, surge in urban population, upsurge in disposable income of pet owners, demand for simplicity and convenience in packaging.

The pet food packaging market size is expected to see strong growth in the next few years. It will grow to $14.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to increase in pet food production, increasing use of biodegradable materials, growth in e-commerce for pet products, increase in consumption of processed and packaged food for animals, multi-functionality of pet food packaging. Major trends in the forecast period include innovation in pet food products, advanced packaging features, increasing focus on innovative packaging options for a competitive edge, mergers and acquisition.

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Market Drivers and Trends:

The increasing adoption of pets is expected to propel the growth of the pet food packaging market going forward. The adoption of pets refers to the act of taking in an animal as a companion, giving it a permanent home, and caring for it throughout its life. Pets have specific nutritional requirements, and pet food packaging ensures that the food remains fresh, uncontaminated, and retains its nutritional value until it reaches the consumer. For instance, in October 2022, according to a report published by the American Veterinary Medical Association, a US-based non-profit organization, there was a 29% increase in the proportion of families with at least one cat. Further, in 2022, the average yearly cost of veterinary visits for households with cats was $321. Therefore, the increasing adoption of pets is driving the growth of the pet food packaging market.

Major companies operating in the pet food packaging market are developing innovative packaging options, such as recyclable packaging, to gain a competitive edge in the market. Recyclable packaging refers to any variety of packaging that is reusable and biodegradable. For instance, in October 2022, Dow Packaging & Specialty Plastics, a US-based plastic manufacturing company, launched the next generation of recyclable packaging. The large pet food bags are constructed of MDO-PE film, with only polyethylene used in each structural layer (apart from a tiny layer of EVOH for the barrier). It is tailored to minimize material waste during production and is constructed using premium resin and the most recent W&H VAREX II machine extrusion technology with inline MDO. It is the next generation of recyclable packaging that will promote increased recycling rates and make the circular economy of plastics possible.

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Major Key Players of the Market:

Major companies operating in the pet food packaging market report are Dow Inc., Amcor Limited, Berry Global Group Inc., Smurfit Kappa Group, Mondi Group, Sonoco Products Company, Silgan Holdings Inc., Greif Inc., Huhtamaki Group, Constantia Flexibles Group GmbH, Winpak Ltd., Coveris Holdings S.A., Schur Flexibles Group, Bemis Company Inc., ProAmpac Holdings Inc., PaperWorks Industries, Inc., Hood Packaging Corporation, American Packaging Corporation, ePac Flexible Packaging, Glenroy Inc., InterFlex Group Inc., Flair Flexible Packaging Corporation, Mid South Packaging Inc., PBFY Flexible Packaging, Star Packaging Corporation

Pet Food Packaging Market 2024 Key Insights:

• The pet food packaging market is expected to grow to $14.74 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Pet Adoption Surge Fuels Growth In The Pet Food Packaging Market
• Development Of Recyclable Packaging By Major Players In The Pet Food Packaging Market
• North America was the largest region in the pet food packaging market in 2023

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