Pet Food Packaging Market Size, Segments, Growth Prospects 2017
As per the findings of a report added by Radiant Insights,
Inc.; the global pet food packaging market is anticipated to expand at a
significant CAGR between 2016 and 2022. The market is likely to rake in a
healthy share of the revenue pie with the robust growth of the pet food
industry. Growing research in pet care and nutrition are prompting pet food
manufacturers to come up with a diverse range of products. Pet food packaging
is, thus, gaining importance due to the effect it can have on food quality.
Rising popularity of frozen pet food among pet owners due
to convenience offered by them is resulting in increased focus on pet food
packaging. Besides this, expansion in pet food manufacturing facilities is
expected to help the market gain phenomenal momentum in coming years. For
instance, recently Nestle inaugurated its 5,000 square-meter manufacturing
hallin Buk, Hungary, transforming the unit into one of the largest pet food manufacturing
capacities in Europe. The hall includes two new filling and packaging lines.
Burgeoning competition among pet food manufacturers is compelling them to focus
on product differentiation through packaging. This, in turn, can positively
influence the market.
Developed countries are likely to continue to be key
revenue contributors in the global arena over coming years, owing to spiraling
demand for pet ownership. Heightened awareness of pet owners in developed
nations regarding pet food quality and its impact on pet health along with high
affluence of the populace is supporting the growth of the overall market. Rapid
urbanization and rising disposable income of people in developing countries are
also projected to drive the market. On the other hand, stringent regulatory
framework pertaining to pet food quality and safety can limit the market from
realizing its full potential.
The global pet food packaging market has been segmented
on the basis of product, applications, and geography. Based on product, the
market has been classified into metal, rigid plastic, flexible plastic, paper
and paperboard, and others. In terms of applications, the market has been
divided into wet food, dry food, pet treats, chilled and frozen food, and
others.
The key regions analyzed in the pet food packaging market
report are Europe, North America, China, India, Southeast Asia, and Japan.
North America will command a substantial share in the overall market revenue
throughout the forecast period (2016 to 2022). The growth of the market can be
attributed to soaring demand for pet ownership and high disposable income of
the populace. Europe will also hold a prominent position in the market owing to
the heightened awareness among pet owners regarding pet health.
Southeast Asia pet food packaging market is estimated to
register a healthy CAGR during the same period. Increasing spending on pet food
products due to rising disposable income is one of the primary growth
stimulants of the regional market. Growing number of households with dual
households is benefiting the growth of the market. The expansion of the market
in Japan is largely propelled by widening base of nuclear families in the
country.
Some of the prominent companies operating in the pet food
packaging market are Amcor Limited, Bryce Corporation, Berry Plastics
Corporation, Sonoco Products Company, and Mondi Group.
For More Details: https://www.radiantinsights.com
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