Pet food packaging market to reach US$13.2Bn by 2026

Pet food packaging market size is forecast to reach US$13.2 billion by 2026, after growing at a CAGR of 4.5% during the forecast period 2021-2026, according to a report by IndustryARC. The key factors driving the growth of pet food packaging market include increasing affection for pets leading to higher pet adoption, high pet owners' income levels, changing lifestyles, demand for simplicity and convenience in packaging, and the growing trend of humanization of pets.

Over the years, the growing customer preference for convenience over cost, has inspired pet food packaging product manufacturers to improve their product offerings. In this respect, both pet treats and food have seen a steady demand for convenience and single-serve packaging in the industry. In addition, food labeled with metabolizable energy is gaining popularity, which is further influencing pet food packaging market growth. Increased use in the field of reinforced and usable products and increased demand for cyclic oligomers polyester such as polyethylene terephthalate packaging have emerged as a key trend in the pet food packaging industry. Due to varied range of food flavor offerings worldwide, this market is expected to grow rapidly.

The report further indicates that North America dominates the market, owing to increase in adoption of pets, growing disposable income of pet owners, and rising concerns about health of pets in the region. In addition, evolving consumer lifestyles across developed countries, increasing pharmaceutical and food industries, pet humanization, and the emergence of new product innovations such polyethylene terephthalate cyclic oligomers for pet microwave susceptor packaging in pet food products are expected over the forecast period to generate opportunities for global market suppliers.

However, in the coming years, strict government regulations on pet food quality and protection & quality issues of products are likely to hamper the growth of the global market for pet food packaging.

In terms of packaging material, plastics segment held the largest share in the pet food packaging market in 2020 and is expected to grow at a CAGR of 5.6% over the forecast period. The demand for plastics is mainly driven by an increase in the consumption of standup bags and pouches. In addition, the increasing popularity of flexible packaging such as polyethylene terephthalate in the industry is a key factor driving the growth of plastics material. Paper & paperboard is also expected to see significant growth over the forecast period.