The pet food packaging market worldwide is projected to touch $8,190.2 Million by 2020. A report by Research and Markets predicted this.
From 2015 to 2020, the report predicted a CAGR of 5.08%. This phenomenal growth is predicted to be driven by a global increase in pet adoption.
During the forecast period, increased spending on pet food products is expected to raise the demand for pet packaging as well.
Across the U.S and Europe, millions of households boast of at least one pet. In most cases, it’s either a dog or a cat. Quite expectedly, the commercial pet food industry has grown steadily.
It’s predicted to touch newer heights in the future. Due to this trend, pet food packaging industry too has grown.
As companies offering various types of pet foods plan to capture market share and build brand loyalty, they are looking for innovative packaging solutions.
From the aspect of convenience, easy open, single-serve, zipper tops and easy carry trends are the top picks in the pet food packaging market.
Future of Pet Food Packaging Market
The Food Safety Modernization Act (FSMA) has brought into effect some new governmental regulations. In the near future, these regulations are likely to affect the pet food industry in the U.S. significantly.
To adhere to these new guidelines, manufacturers of pet food are busy adjusting and assessing their procedures and equipment. Companies operating in the pet food packaging market expect tighter scrutiny under the FSMA.
They also believe that they would have to adhere to the same standards as applicable for human food packaging. This, they say, is likely to have a big impact on the packaging market for pet foods over the next few years.
At present, pet food is primarily packaged in multiwall heat sealer bags, pouches and metal cans. Of all these, pouches are the most popular pick.
Common materials used in the manufacture of these packaging products include paper, steel, plastic/laminates and aluminium.
While usage of plastic and laminates is rising at a double digit rate, that of metals (especially steel) is decreasing.
At present, a lot of emphasis is given on environment-friendly products. Many pet owners are favouring organic and natural pet food.
This has raised the demand for paper-based packaging with natural finish. Specially formulated healthier pet food is often sold in resealable, smaller-sized pouches with greater display potential.
Despite changes in governmental regulations, the pet food packaging market is set to experience cost-effective, environment-friendly innovations that will open new avenues over the next few years.
For more news related to pet food and and the Food Safety Modernization Act visit http://www.fda.gov/Food/GuidanceRegulation/FSMA/