Portland, OR, March 01, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pet food packaging market was valued at $10.1 billion in 2021, and is projected to reach $17.0 billion by 2031, registering a CAGR of 5.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 | |
| Base Year | 2021 | |
| Market Size in 2021 | $10.1 Billion | |
| Market Size in 2031 | $17.0 Billion | |
| CAGR | 5.2% | |
| No. of Pages in Report | 228 | |
| Segments Covered | Material Type, Food Type, Animal Type and Region. | |
| Drivers | An increase in animal adoption rate | |
| Growth in concern about animal health | ||
| Restraints | Stringent food packaging regulation | |
| Opportunities | Increase in premium category brand |
Covid-19 scenario-
- Several restrictions on industrial activities during the pandemic impacted the global pet food packaging market negatively.
- The supply chain of raw material of pet food packaging was hampered during the outbreak of the pandemic. This led to disperuption of the pet food packaging market and eventually retrained the growth of the market. However, the market has now got back on track by the end of 2021.
The global pet food packaging market is analyzed across material type, food type, animal type, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By material type, the plastic segment held the largest share in 2021, garnering over half of the global pet food packaging market revenue, and is projected to maintain its dominance by 2031. The paper and paperboard would showcase the fastest CAGR of 6.4% during the forecast period.
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By food type, the dry segment contributed to nearly 60% of the global pet food packaging market share in 2021, and is projected to rule the roost by 2031. Other segment would display the fastest CAGR of 6.8% throughout the forecast period.
By animal type, the dogs segment accounted for the highest share in 2021, generating nearly 50% of the global pet food packaging market revenue. The others segment would portray the fastest CAGR of 6.7% during the forecast period.
By region, the market across Europe held the major share in 2021, garnering nearly half of the global pet food packaging market. Asia-Pacific, on the other hand, would showcase the fastest CAGR of 7.0% from 2022 to 2031.
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Top Players:
The major players profiled in the Pet food packaging market include Amcor Limited, American Packaging Corporation, Berry Plastics, Constantia Flexibles, Crown Holdings, Huhtamaki Flexible Packaging, Mondi Group, ProAmpac, Sonoco Products and WINPAK LTD. Major companies in the market have adopted product launch, acquisition and partnership as their key developmental strategies to offer better products and services to customers in the pet food packaging market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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