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The global petcare market is witnessing an increase in consumer spending on premium petcare products, including food, supplements, and grooming products. Technavio’s market research analysts project this market to grow steadily and reach a revenue size of close to $10 billion by 2019.
The pet food packaging segment is currently witnessing an increase in the demand for pouch packaging. Pet food manufacturers are constantly looking for lightweight, innovative, and alternative forms of packaging. Traditionally, pet food has been associated with bland, single-item flavors in small jars. This perception is changing over time as vendors of this market have started to offer a range of flavors with innovative pouch packaging. Retail of premium products will significantly boost the demand for packaging products over the next four years.
The flexible packaging segment accounted for close to half of the market share in 2014, and it is expected to continue posting robust growth until 2019. Technavio market research analysts predict a major shift in the preference of companies using carton packaging over to flexible plastic packaging during the forecast period.
The demand for petcare packaging products in Europe is expected to increase moderately during the forecast period. Market trends indicate a growing demand for healthier options even in the pet food segment. Countries in Western Europe in particular, such as the UK, Germany, and France emerged as the top markets for petcare product sales in 2014.
With the roll out of new products, pet food product manufacturers are frequently demanding new packaging products in different sizes, shapes, designs, and labels. It necessitates packaging vendors to look into different aspects such as convenience, simplicity, and expediency in packaging. Market projections predict increasing investments for transitioning to new packaging techniques.
High capital investments to purchase or extend production facilities, coupled with additional expenses associated with developing new plants, pose a key challenge to small players in the market. Some of the other prominent vendors of petcare packaging include American Packaging, Ampac, AptarGroup, Ardagh Group, Ball, Berlin Packaging, Berry Plastics, Gateway Packaging, Greif, Hood Packaging, InterFlex Group, KapStone, MeadWestVaco, Reynolds Group Holding, Silgan, and Winpak.
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