Pet Food Packaging Market to Reach $16.6 Bn, Globally, by 2030 at 5.7% CAGR: Allied Market Research
Increase in demand & accessibility for high-quality food products, rise in pet adoption in urban areas, and multi-functionality of pet food packaging products drive the growth of the global pet food packaging market.
PORTLAND, Ore., June 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Pet Food Packaging Market by Material Type (Paper and Paperboard, Plastic, Metal), by Food Type (Dry Food, Wet Food, Others), by Animals Type (Dogs, Cats, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global pet food packaging industry generated $9.4 billion in 2020, and is expected to reach $16.6 billion by 2030, witnessing a CAGR of 5.7% from 2021 to 2030.
Drivers, Restraints, and Opportunities
Increase in demand & accessibility for high-quality food products, rise in pet adoption in urban areas, and multi-functionality of pet food packaging products drive the growth of the global pet food packaging market. However, stringent government regulations restrain the market growth. On the other hand, the launch of new products that will help in storing pet food for long duration and maintaining sustainability present new opportunities in the coming years.
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Covid-19 Scenario
- During the Covid-19 pandemic, the production activities of packaging materials stopped completely or partially due to lockdown measures implemented in many countries. Moreover, the disruptions in the supply chain and shortage of raw materials presented challenges in production facilities.
- The demand for packaging of pet food decreased considerably as the pet food production activities faced hindrances due to closure of facilities and other issues. However, the demand for packaging increased steadily post-lockdown.
The paper and paperboard segment to continue its lead position throughout the forecast period
Based on material type, the paper and paperboard segment held the largest market share in 2020, contributing to nearly half of the global pet food packaging market, and is expected to continue its lead position throughout the forecast period. This is due to rise in adoption of these materials in the packaging industry due to environmental benefits. However, the plastic segment is estimated to witness the largest CAGR of 6.4% from 2021 to 2030, owing to increase in utilization of single-use plastic bags in the packaging of pet food.
The dry food segment to maintain its leadership status during the forecast period
Based on food type, the dry food segment accounted for the highest market share in terms of revenue in 2020, accounting for nearly half of the global pet food packaging market, and is projected to maintain its leadership status during the forecast period. Moreover, this segment is projected to register the fastest CAGR of 6.2% from 2021 to 2030. This is attributed to popularity among pet owners, long shelf life, and great taste & superior quality. The report also analyzes the segments including wet food and others.
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North America to maintain its dominance in terms of revenue by 2030
Based on region, North America contributed to the highest market share in terms of revenue in 2020, accounting for nearly half of the global autonomous mobile robot market, and is expected to maintain its dominance in terms of revenue by 2030. This is due to convenience offered by packaging with innovative slider closures, pouch packaging, and fitments for pet food. However, Asia-Pacific is estimated to manifest the largest CAGR of 6.9% during the forecast period, owing to awareness of hazardous packaging products and focus on animal health.
Leading Market Players
- Mondi Group
- Sonoco Products
- Berry Plastics
- Amcor Limited
- American Packaging Corporation
- Ampac Packaging
- Ball Corporation
- Bemis Company
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