Segmentation By Product Type (Eatable Items and Chewable Items); By Material Type (Plastic, Metal and Paperboard); By Packaging Form (Bags, Cans, Pouches and Boxes); By Food Type (Dry Food, Wet Food and Pet Treats); By Animal Type (Cats, Dogs, Birds, Fishes and Others); By End Users (Pet Shops, Online Stores, Hypermarkets and Others) - Global Demand Analysis & Opportunity Outlook 2028
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Our in-depth analysis of pet food packaging market includes the following segments:
By Product Type
By Material Type
By Packaging Form
By Food Type
By Animal Type
By End Users
By Region
On the basis of regional analysis, the pet food packaging market is segmented into five major region including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market for Pet food packaging in North America is anticipated to account for the leading share in the market owing to greater adoption of pets, emerging private label store brands, uniqueness in packaging along with the demand of convenience in packaging and changing lifestyle. Further, the companies in this region depends on extensive advertisements for the sale of pet food items. The market in Asia Pacific will account for highest growth in pet food packaging products on the back of trend of humanization alongside with the trend for nuclear families and availability of training facilities for pets.
The pet food packaging market is further classified on the basis of region as follows:
The market for pet food packaging is anticipated to record a significant CAGR of around 5.5% over the forecast period, 2020-2028. The key factors driving the growth of the market include high income level of pet owners, convenience in packaging of pet food and rising affection for pets. Further, the accurate and clear information about the food on package, use of unique designs for packaging showing authenticity along with the trust and better closure system to keep the pet food fresh and odour free are accelerating the growth of the market.
The market is segmented by product type, by material type, by packaging form, by food type, by animal type and by end users. The packaging form is further segmented into bags, cans, pouches and boxes, out of which, the pouch segment is anticipated to be fastest growing on the account of associated benefits such as convenience for the consumers and zippered closure mechanism. Further, the light weight of the pouches reduces the transportation cost, thus leading to the growth of the market.
Growth Drivers
Increasing Pet Owners and Concerns related to Health of Pets
The pet food packaging industry is growing with the increased adoption of pets. In addition, the health and quality of life of pets largely depends on their diet. The pet owners prefer to purchase good quality packaging food products which can protect the food from corrosion and keep it fresh. The pet owners are more concerned about the ingredients used and type of packaging used. Moreover, the pet owners are more involved in the well being of their pets and are more educated about where from the pet food is coming, resulting into rising concern for sustainable packaging. Hence, these factors are anticipated to account for the growth in the market. CLICK TO DOWNLOAD SAMPLE REPORT
Shift towards Recyclable Packaging of Pet Food
The online retail sales of pet food items have increased rapidly with the reliable packaging solutions for the customers. The pet food packaging market is shifting towards recyclable and reusable packaging as most of the customers have interest in environmental friendly packaging for their pets. Moreover, regulations by the government for proper recycling of packaging waste and its increased adoption is impacting the growth of the market in positive direction.
Restraints
Stringent Pet Food Regulations
Pet food is highly regulated and nearly all states selling pet food products need to register the product and the labels should follow the government requirements regarding the ingredients used in items and the product name. Further, without the acceptance from Food and Drug Administration (FDA), an ingredient cannot be used in pet food. This factor is expected to hinder the growth of the market.
On May 5, 2020, Tiki Pets donated a total of 448,000 meals for dogs and cats pet foster families experiencing financial breakdown during COVID-19. The company partnered with GreaterGood.org’s Rescue Bank Program to provide help to those fostering pets. The main goal of the partnership is to provide local animal shelters with pet food supplies in order to care for the pets during this challenging time.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
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