Innovation in the packaging industry Leads to Boost Global Pet Care Packaging Market
HYDERABAD, TELANGANA, INDIA, November 29, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Pet Care Packaging Market Size is estimated to reach $13.4 billion by 2027. Furthermore, it is poised to grow at a CAGR of 4.6% over the forecast period of 2022-2027. Rising pet ownership worldwide had accelerated demand for pet care products that include pet care packaging also. Many people today like to care for pets as a way of life. Pet owners need a flexible solution for preparing, feeding, and caring for their pets owing to their busy lifestyles and work schedules. With a variety of quick open and resalable technologies, as well as handles for comfortable carrying and durable forms that take up less space, flexible packaging provides a high level of convenience. Depending on pet & pet food categories the need for different types of packaging arises. Pet food packaging needs durable material and it also must be customer-centric for convenience to keep & use. Pet owners emotionally attach to their pets and like to prefer small pouches of fresh food rather than traditional bulk paper bags due to lots of pet food containing natural fats if they are not consumed quickly, they get rancid. The ever-increasing demand for pet food is the key driver of the pet care packaging market from 2022-2027. Several factors influence the global Pet Care Packaging Material. Growing demand for paper & paperboard packaging due to concern about recyclability & sustainability of conventional packaging materials like metal cans & rigid plastic bottles. Which makes scope for paper & paperboard packaging materials. Also, it is a lightweight and flexible packaging solution. The rising environmental consciousness among pet owners about bags & pouches, as well as the re-closable & re-usable stand-up pouches becoming highly popular, are the primary factors driving the pet care packaging market during the forecast period 2022-2027. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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1. Geographically, North America held a dominant market share in the year 2021 to a rise in the demand for pet food packaging market due to an increased demand for pet adaptation, and the high salary of pet owners. Rising awareness among pet owners about pet health.
2. Also, the evolving lifestyle of consumers in developed countries, increasing pharmaceuticals & food industry & new product innovations will help to grow the global market & create opportunities for global market suppliers.
3. Additional requirements in the Fair Packaging and Labelling Act are intended to prohibit unfair or deceptive packaging and labeling. Pets are treated in the same way as humans, with the same feelings, and raising awareness and enforcing severe laws and regulations might divert market growth. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Pet Care Packaging Material Report.
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1. Pet Care Packaging based on the type of food can be further segmented into Dry Food, Wet Food, Pet Treats, and Frozen Food. Dry Food held a dominant share of 37% in the year 2021. Since its appeal to pets such as dogs and cats, as well as its lengthy shelf life and ease of storing. Dry pet food has a moisture content of 6% to 10% and a dry matter content of 90% or more (DM).
2. Wet pet food is estimated to be the fastest growing with a CAGR of 5.9% over the forecast period 2022-2027. Wet Pet Food is again categorized into two parts complete and balanced nutrition & second is dietary supplements or meat by-products. By processing, wet food is categorized as loaf, chunks, or chunks in gravy. Wet Food contains 75% of moisture, 5-8% of fat, 7-13% of protein, 4-13% of carbohydrates & 875 – 1250 metabolized energy as a feed basis.
3. The development of bags is being aided by an increasing focus on reducing the amount of material used in their production. A lightweight multi-material laminate, flexible packaging with one or more of LDPE, HDPE, CPP, OPP, and PVC, as well as coatings like PVdCL, can provide the physical and barrier attributes required for standalone bags, that boost the segment over the forecast period.
4. Pouches are estimated to be the fastest growing with a CAGR of 6.2% over the forecast period 2022-2027. The increased demand for this market by various pet food brands is credited with its growth. Purina, a pet food business, allows pet owners to personalize their Just Right dog food stand-up pouches with a photo of their own dog, as well as food with ingredients and nutrients according to their pet’s need.
5. The Pet Care Packaging Material based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 31% in the year 2021. Expanding pet humanization and pet ownership, the introduction of private label retail brands and rising urbanization are only a few of the major reasons driving the pet food packaging business in North America. Furthermore, the rising number of non-traditional families without children, combined with high levels of disposable money, is pushing higher pet spending per capita in this market.
6. According to the American Pet Products Association (APPA), Americans spent $103.6 billion on their pets in 2020, up roughly $13.1 billion from 2018. The largest segment of the market is pet food and treats, which account for $42 billion, followed by vet care and goods, which account for $31.4 billion.
The top 5 players in the Pet Care Packaging industry are –
1. Amcor Limited
2. AptarGroup Inc.
3. Ardagh Group S.A
4. Bemis Company Inc
5. Coveris Holdings S.A
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