Global pet food packaging market to grow 8% to 2020
New report examines global pet food packaging market
The new market research report, “Global Pet Food Packaging Market 2016-2020,” from TechNavio, presents a comprehensive segmentation of the global pet food packaging market by product type (bags, metal cans, pouches, and folding cartons). It outlines the market shares for key regions such as APAC, Europe, North America, and ROW. The key vendors analyzed in this research report are Amcor, Bemis, Mondi, and Sonoco.
Market overview of pet food packaging
TechNavio’s analyst predicts the global pet food packaging market to grow at a CAGR of around 8% between 2015 and 2020. The introduction of new pet food products is driving the growth of this market. During 2009 to 2013, the market witnessed phenomenal sales of organic pet food products, fueling the demand for packaging of these products. Product labeling has become an important aspect for pet food manufacturers, as consumers refer labels to select the safest and nutritious food products. For instance, Iams Savory Sauce, a dog food topping equivalent to ketchup, is packaged in a pet jar with a flip-top dispensing closure, attracting consumers.
The demand for single-serve and small-sized packs from pet food suppliers is also expected to contribute to the market growth during the forecast period. Single-serve packaging products are easy to open and store, allowing pet owners to serve a single portion of food, reduce food waste, and provide a variety of foods for their pets. The introduction of single-serve packaging provides enormous opportunities for pet food packaging manufacturers to gain larger market shares.
Bags accounted for around 41% of the market share during 2015. Bags are the most popular choice for packaging as they are lightweight, low cost, and are available in various designs. The increased demand for sustainable, eco-friendly packaging has led vendors to introduce recyclable options in this segment.
North America dominated the pet food packaging market during 2015 with a market share of around 38%. The rise in marketing and promotional activities by manufacturers has been driving the market growth of this region. This research report anticipates the region to retain its market leadership until the end of 2020.
Competitive landscape and key vendors
The global pet food packaging market is highly fragmented due to the presence of numerous multinational, regional and local vendors. Vendors in this market have a high scope for innovation due to the growing demand for high-quality packaged food products. The report predicts international vendors to grow inorganically during the forecast period 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 ROW during the forecast period.
Key questions answered in the report
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global pet food packaging market?
- What are the key market trends impacting the growth of the pet food packaging market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global pet food packaging market?
- Trending factors influencing the market shares of APAC, Europe, North America, and ROW?
- What are the key outcomes of the five forces analysis of the pet food packaging market?