Pet Food Packaging Market Predicted to Rise to $10.7 billion
The global pet food packaging market is set to exhibit steady progress in the coming years due to the steady growth of the pet care sector in developed economies and the growing disposable income of pet owners. Pet food packaging has also become important for pet food manufacturers for branding purposes, making it likely to receive significant investment from key players in the pet food market in the coming years.
The global pet food packaging market is likely to be valued at US$8.3 billion by the end of 2017, according to Transparency Market Research. The market is likely to exhibit a 5.2% CAGR from 2017 to 2022, enabling a strong rise to U.S. $10.7 billion by 2022. The market will be driven primarily by demand from developed regions in the coming years, though emerging countries such as Japan, China, Indonesia, India, Taiwan, Korea and Australia could also make major contributions to the global pet food packaging market.