Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Pet Food Packaging Market by Material (Paper & Paperboard, Plastic, Metal), Product (Pouches, Folding Cartons, Metal Cans, Bags), Food (Dry Food, Wet Food, Pet Treats), Animal (Dog, Cat, Fish), and Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
A substantial increase in pet ownership and the humanization of pets are contributing factors to the market's projected value growth from USD 11.1 billion in 2023 to USD 14.9 billion by 2028. The report points out that a CAGR of 5.9% is expected during this period, steered by heightened consumer spending power and urbanization trends.
High-CAGR Segments Identified
Within this thriving market, specific segments are anticipated to showcase remarkable expansion. Notably, metal cans in pet food packaging are projected to register the highest CAGR, courtesy of their robust protection features that ensure the preservation of food quality. Cat food, as a segment, is also expected to grow at an enviable rate, mirroring the increase in cat adoptions globally.
Momentum in Pet Treats Packaging
Market research also pinpoints the pet treats segment as one of the fastest-growing within the industry. This upsurge hinges on the diversifying range of treat options available to pet owners, highlighting the deepening bond between pet owners and their companions.
Eco-friendly Packaging at the Forefront
Paper & paperboard materials, recognized for their sustainable and biodegradable properties, stand out as leading material types in pet food packaging. These materials are gaining traction amidst growing awareness and concern for environmental sustainability among consumers.
North American Market Leads the Charge
Regionally, North America is projected to dominate the global share during the forecast period. The region's prominence in the market is bolstered by a strong pet culture and the growing preference for convenient packaging solutions. The report also offers an exhaustive competitive analysis of prominent players contributing to the pet food packaging market's evolution. It assesses the landscape's competitive dynamics and strategies adopted by various stakeholders to sustain and strengthen market positions.
Beneficial Insights Offered
- An in-depth analysis of the market's drivers, restraints, and opportunities.
- New product developments, innovations, and market advancement information.
- Strategic insights into market diversification, development, and competitive assessment.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 286 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $11.1 Billion |
| Forecasted Market Value (USD) by 2028 | $14.9 Billion |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Global |
Companies Mentioned
- Amcor PLC
- American Packaging Corporation
- Ardagh Group SA
- Berlin Packaging
- Berry Global Inc.
- Constantia Flexibles
- Coveris
- Crown Holdings, Inc.
- Emmerson Packaging
- Epac Holdings, LLC.
- Greif
- Huhtamäki Oyj
- Jupiter Laminators Pvt. Ltd.
- Km Packaging Services Ltd.
- Ld Packaging Co. Ltd.
- Mondi PLC
- Printpack
- Proampac
- Sealed Air
- Silgan Holdings Inc.
- Smurfit Kappa Group PLC
- Sonoco Products Company
- Transcontinental Inc.
- Westrock Company
- Winpak Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/1d6upu
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