Pet Food Packaging Market Expected to Reach $17.1 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Pet Food Packaging Market," The Pet Food Packaging Market Size was valued at $10.1 billion in 2021, and is estimated to reach $17.1 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.

Pet food packaging is made by using paperboard, plastic, and other material. It is used to store food for a long duration and increases the product's shelf life.

In recent years, the pet adoption rate has increased in developed and developing countries. Pet owners want their pets to eat healthy foods and maintain their health as the humanization of pets continues. As per pet food packaging market analysis, more companies introduce premium pet food products, and good packaging is necessary to safeguard and preserve the contents. For instance, in September 2020, Nestle Purina launched recyclable flexible pouch packaging for pet food. This new pouch addresses a key challenge of simplifying plastic structures to make them recyclable, without compromising on the functionalities of food-grade packaging.

Europe accounted for around 33% of the global market. The region has dominated the pet food packaging market in terms of revenue owing to high demand for pet food and packaging service across its many countries. Factors such as rise in pet adoption, change in lifestyles, the need for simplicity, convenience in packaging, and the growth in pet humanization trend all contribute to the pet food packaging market's growth. However, Asia-Pacific is expected to register the highest CAGR during the pet food packaging market forecast period.

This is due to an increase in R&D investments in developing countries and a rise in investments in technology for recyclable packaging and services for pets. For instance, in March 2020, Nestle made a significant investment in Tianjin, China to expand its pet food operations. The region's pet food packaging industry has rapidly developed due to higher pet adoption rate. This is expected to boost the demand for pet food packaging in Asia-Pacific by exhibiting the highest CAGR during the forecast period.

Paper and paperboard are a rapidly growing segment of the packaging business that provide numerous benefits to end customers across a wide range of industries, including food, beverage, healthcare, and distribution centers. The growth in demand for corrugated container boards for packaging of fruits, vegetables, and food goods in commercial sectors has raised demand for paper and paperboard.

Furthermore, market key players have implemented various strategic moves such as product launch, collaboration, and partnership to strengthen their market position. For instance, in January 2021, Avon Pacfo Services LLP launched a packaging solution for pet and human food that is 100% biodegradable, recyclable, and effective. These are mostly utilized for long-distance packing and transportation. They produce a wide range of corrugated boxes, including standard RSC boxes and die-cut corrugated boxes. All such factors are expected to provide lucrative growth in the global pet food packaging market outlook.

In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the pet food packaging market. However, this situation is expected to improve as the government is relaxing norms around the world for resuming business activities.

The pet food packaging market share has grown significantly over the last decade, owing to an increase in the demand from developed countries such as U.S., China, Japan, and Germany. Furthermore, the rise in concern regarding pet’s health has boosted the pet food packaging market growth. In addition, increasing pet adoption rates in various countries are increasing the demand for pet care products such as food and hence are anticipated to create growth opportunities in the global market.

The market is segmented on the basis of material type, animal type, food type, and region. On the basis of material type, the market is divided into paper & paperboard, plastic, and metal. On the basis of animal type, the market is divided into dogs, cats, and others. On the basis of food type, the market is divided into dry food, wet food, and others. Region wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

COMPETITION ANALYSIS

The key players that operate in the pet food packaging market are Amcor Limited, American Packaging Corporation, Berry Plastics, Constantia Flexibles, Crown Holdings, Huhtamaki Flexible Packaging, Mondi Group, ProAmpac, Sonoco Products and WINPAK LTD.

 KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging global pet food packaging market trends and dynamics. 
• By material type, the plastic segment was the highest revenue contributor in 2021.
• Based on food type, dry food segment dominated the market in 2021.
• Based on animal type, the dog segment dominated the market in 2021.
• Region-wise, Europe dominated the market in 2021. Moreover, Asia-Pacific is anticipated to dominate the global pet food packaging market exhibiting highest CAGR during the forecast period.