Premiumization and convenience drive innovation in pet product packaging
The pet product market in the U.S. has seen steady growth over the last five years, climbing from roughly $37 billion in 2010 to almost $44 billion in 2014, a compound annual growth rate (CAGR) of 4% for the period. According to Pet Product Packaging Innovation: Consumer Perspectives, a brand-new report by market research publisher Packaged Facts (packagedfacts.com), the packaging choices of marketers are among are the most influential trends affecting the future of pet products due to the fact that packaging is closely linked to consumer satisfaction.
"Like any other consumer packaged goods, the packaging surrounding a product made for pets is the first interaction a consumer has with that product. The packing has to possess the ability to catch the consumer's eye and provide information on the product in an engaging fashion, as well as be convenient to use and carry, provide suitable protection for the product inside the packaging, and be environmentally friendly to boot," says David Sprinkle, research director, Packaged Facts.
Innovations in packaging, such as new types of closures on pet foods or compostable packaging, can spur sales of specific pet products and brands. Likewise, strong sales of a particular brand (and its associated packaging choices) will often spur other marketers to develop a similar style of packaging to keep up with the latest trends within the industry. This connection is particularly noticeable with premium and superpremium pet foods, where the refresh of a premium brand by a marketer will typically incorporate new packaging as part of the enhancement.
There is also no question that the packaging used for pet products shifts with consumer perceptions and trends, many of them carried over from the food and beverage world. However, there are number of common themes that continue to arise in terms of what consumers are looking for from the packaging surrounding the pet products they buy. Top issues are the closure systems in pet food products, with the capability for resealing and ease of opening the top issues with consumers. Better labeling of pet foods and pet treats is another top driver of packaging, a definite crossover from similar concerns with human foods and beverages.
Convenience is another important theme, falling out from the trend of people being busier and more on the go than ever before. This translates into a variety of different packaging trends: handles on larger pet food containers for easier portability, single serving portion sizes that come in their own serving tray, and treats and foods designed for use when traveling.
As the results of Packaged Facts own proprietary survey show, these top themes of premium products, pet food closures, and convenience continue to drive consumer satisfaction and perception of pet products available in the market today.
For more information on how these themes and other packaging decisions affect brand sales and consumer uptake of different products, purchase a copy of Pet Product Packaging Innovation: Consumer Perspectives by visiting: http://www.packagedfacts.com/redirect.asp?progid=88059&productid=9384675.