Pet Packaging Market to Register Substantial Expansion by 2024 - 2031 | Amcor Ltd, Resilux NV, Gerresheimer AG

The global PET packaging market was valued at US$ 61.9 Mn in 2023 exhibiting a CAGR of 7.7% in terms of revenue

BURLINGAME, CALIFORNIA, UNITED STATES, July 24, 2024 /EINPresswire.com/ -- Market Overview:

Pet packaging products are used for packaging pet food, treats, medicines and other products related to pet care. Common pet packaging products include bags, boxes, cans and pouches which help maintain freshness and safety of pet products.

Market Dynamics:

The pet packaging market is expected to grow owing to rising pet ownership across the globe. According to data, around 57% of U.S households own a pet. Additionally, increasing humanization of pets is encouraging owners to treat them like family members which is further driving demand for specialized pet products and innovative packaging solutions. Product differentiation through packaging is another factor fueling growth of pet packaging market. Manufacturers are offering packaging solutions with features like resealability, ease of use and disposal which aid in brand positioning and improving customer experience. Also, growing Pet Humanization and pet humanization trend globally is creating demand for premium and sustainable petcare products with attractive designs and graphics on packaging.

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Driver - Rising Pet Adoption Due to Increase in Nuclear Families and Singles Living Alone

Pet adoption has increased significantly over the past few years due to an increase in nuclear families and singles living alone. Pets are being preferred as companions and help reduce loneliness and stress. According to recent studies, pet ownership provides health benefits like lowering blood pressure and reducing depression. As nuclear families and singles living alone adopt more pets, there is an increased demand for pet food, grooming products, toys and other pet care accessories that require proper packaging. Pet parents are increasingly opting for premium processed and raw pet food options that come packed in bags, cans or pouches for convenience. Other pet care products like shampoos, conditioners, combs also require packaging in bottles or tubes. Research shows that over 75% of pet owners feel packaging influences their purchase decision and prefer eco-friendly and sustainable packaging options. The increase in pet adoption and higher spending on premium pet food and products is driving the demand for innovative, sustainable and user-friendly pet packaging solutions.

Driver - Shift to Online Pet Retail During COVID-19 Pandemic

The COVID-19 pandemic accelerated the shift to online retail as people avoided going to physical stores. According to industry reports, the online pet product sales grew by over 50% during the pandemic. More customers bought pet food, grooming products, toys and accessories online from e-commerce websites and subscriptions services during lockdowns and restrictions on store visits. This influx of online orders required adequate packaging solutions to securely pack and ship pet products. Online pet retailers focused on providing cardboard boxes, mailers, bottles, cans and pouches suitable for shipping in all weather and temperature conditions. Sustainable and tamper-proof packaging played a key role in building customer trust in online purchases. The rapid growth of online pet retail during the pandemic put the spotlight on the need for specialized protective and presentation packaging. Packaging manufacturers stepped up efforts in developing packaging prototypes to cater to the unique shipping and handling requirements of online pet retailers and subscription services. This spurred investment and innovation in the pet packaging sector.

Opportunity - Growing Demand for Sustainable and Recyclable Packaging

Customers are increasingly conscious about sustainability and prefer eco-friendly packaging options for pet products. There is a growing demand for packaging made using recycled content, renewable resources, and designed for maximum recyclability. Studies indicate more than 50% of pet owners take into account the sustainability attributes of packaging and willing to pay 5-10% higher price for sustainable options. This customer shift provides an opportunity for innovative packaging solutions that reduce material usage, carbon footprint and enhance recyclability. Some ongoing product developments in this space include packaging made from recycled paper/plastics, plant-based plastics, compostable films and laminates etc. Manufacturers partnering with recycling companies can establish closed loop supply chains and gain competitive edge. Brands emphasizing sustainable packaging gain more visibility in product listings and targeted advertising. Regulatory push for circular economy models and policies favoring packaging sustainability also augur well for greener pet product packaging formats in the long run.

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Top Companies Featured in This Report:

★ Amcor Ltd
★ Resilux NV
★ Gerresheimer AG
★ Berry Global Group Inc.
★ Silgan Holdings Inc.
★ Graham Packaging Company
★ GTX Hanex Plastic Sp. z o.o.
★ Dunmore Corporation
★ Comar LLC
★ Sonoco Products Company
★ Huhtamaki OYJ
★ Nampak Limited

Market Segmentation:

By Product Type:

★ By Product Type: Bottles and Jars, Bags and Pouches, Trays Lids And Caps, Closures, Other
★ By Packaging: Rigid, Flexible
★ By End-User Industry: Oil and Gas, Food and Beverage, Pharmaceuticals, Personal care and cosmetic industry, Industrial goods, Household Products, Other

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Key Inquiries Addressed in this Report include:

📈 What was the size of the Pet Packaging Market in 2024, and what is the projected value by 2031?

📈 What is the present global market landscape for the Pet Packaging Market?

📈 What strategies offer optimal opportunities for growth maximization in the business?

📈 What recent trends are shaping the Pet Packaging Market?

📈 How does the market share of Pet Packaging Market revenue, sales, and size vary across specific geographical regions?

📈 Who are the prominent industry players in the Pet Packaging Market?

📈 Which segment of the Pet Packaging Market is experiencing heightened demand?

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Pet Packaging sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

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Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

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