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.