Global Pet Food Packaging Market 2018-2022| Premiumization of Pet Food to Boost Growth| Technavio

The global pet food packaging market is expected to post a CAGR of around 7% during the period 2018-2022, according to the latest market research report by Technavio.

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A key factor driving the growth of the market is the increase in pet ownership and spending. The number of pet owners has been on a steady rise over the last few years. For instance, in the US, the number of households that own a cat has increased by almost 11% in the last six years. The number of households that own a dog has increased by almost 15% during the same period.

This market research report on the global pet food packaging market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the premiumization of pet food as one of the key emerging trends in the global pet food packaging market:

Global pet food packaging market: Premiumization of pet food

Premiumization has driven the growth of pet food packaging market. Premium foods are doing well in the market as the consumers are willing to spend on them. The sales in the premium segment were 2%-4% more than that of the mid-priced food segment. Economy pet food products have a relatively less market share over the other two segments.

“Premiumization alters the end user's perception of the quality of food. The outward appearance of the product is a deciding factor for purchase. Packaging is an important aspect of premiumization of a product as it is the first point of interaction of the product,” says a senior analyst at Technavio for research on packaging.

Global pet food packaging market: Segmentation analysis

This market research report segments the global pet food packaging market by packaging type (flexible packaging and rigid packaging) and geography (APAC, EMEA, and the Americas).

The Americas led the market in 2017 with close to 43% of the market share, followed by EMEA and APAC respectively. The Americas is expected to dominate the global market throughout the period 2018-2022.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market sizing
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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