Pet care packaging: Key market research findings
- Shift towards flexible packaging format
- Increasing demand for pouch packaging and small-sized packs
Technavio has added a new market research report on the petcare packaging market to its pet care portfolio. The pet care packaging market is expected to grow at a CAGR of around 3% between 2015 and 2019. The market is witnessing an increase in consumer spending on premium pet care products, including food, supplements, and grooming products.
North America occupies around 39% of the pet care packaging market, owing to robust sales of pet care products. Increase in marketing and promotional activities by manufacturers, and increasing numbers of pet owners rewarding pets in human terms is propelling the growth of the North American market.
The flexible packaging segment accounted for close to half of the market share in 2014, and it is expected to generate a revenue of around US $ 5billion during the forecast period. Technavio market research analysts predict a major shift in the preference of companies using carton packaging over to flexible plastic packaging during the forecast period. Also, vendors are introducing biodegradable and sustainable forms of flexible packaging to meet the requirements of food manufacturers asking for eco-friendly packaging.
Global pet care packaging market by flexible packaging 2014-2019 ($ billions)
Source: Technavio Research
“Of late, the pet food packaging segment is witnessing an increase in the demand for pouch packaging. Pet food manufacturers are constantly looking for lightweight, innovative, and alternative forms of packaging. Vendors have started to offer a range of flavors with innovative pouch packaging. Also, consumers are preferring prefer small-sized packs, which are easy to open and store. This allows pet owners to serve a single portion of food, reduce food waste, and provide a variety of foods for their pets,” says Sriram Mohan, Lead Analyst, Transportation & Logistics, Technavio Research.
The leading players of in the pet care packaging market includes Amcor, Bemis, Graphic Packaging, Printpack, Mondi, and Sonoco. With the roll out of new products, pet food product manufacturers are frequently demanding new packaging products in different sizes, shapes, designs, and labels. It necessitates packaging vendors to look into different aspects such as convenience, simplicity, and expediency in packaging.
A more detailed analysis is available in the Technavio report, Petcare Packaging Market: Global Research and Analysis 2015-2019.
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