Growing: Short and Long term covid-19 impact on Pet Food Packaging Market
Pune, Maharashtra,India, November 9 2020 (Wiredrelease) Origius Systems Private Limited –:As per a new report published by Research Dive, the global pet food packaging market will reach up to $13,267.1 million in 2027 and is expected to grow at a notable rate throughout the projected time 2019-2027.
The novel COVID-19 has created huge disruption in the food packaging sector and is projected to impact the operational activities in the packaging industry. During this emergency situation, most of the people are self-isolating and adopting work from home option, this variation in lifestyle has encouraged people to adopt new pets to their family. Also, still there no evidence that animals can contribute to the spread of coronavirus, thereby most of the families are increasing adoption of pet animals as they provide emotional support, companionship and reduce sense of loneliness. This factor is directly driving the market growth in the pandemic period. However, the COVID-19 has a serious impact on supply chains for many manufacturers and suppliers across the globe due to lockdown of many industries activities in China, it is a huge manufacturing hub for many raw materials and finished products. These aspects are significantly impacting the growth of the pet food packaging market in the 2020.
Moreover, many governments are implementing various initiatives to support the businesses in the pandemic period. For example, the UK government has announced sustainable innovation fund of $220 million to help organizations across the UK to fuel cutting-edge technology developments. Also, this fund is likely to help innovations in AI (artificial intelligence) systems to managing traffic flows and manufacturing of reusable packaging materials.
During this unexpected condition, we are helping our clients in understanding the impact of COVID-19 on the global pet food packaging market.
As per a new report published by Research Dive, the global pet food packaging market will reach up to $13,267.1 million in 2027 and is expected to grow at a notable rate throughout the projected time 2019-2027.
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The global market segmentation has been done on the basis of material type, type of packaging and region. This report delivers complete overview of drivers, opportunities, restraints, segment analysis and prominent players of the market.
Factors affecting market growth
As per our analysts predicts, rapidly growing people interest on pet ownership and increasing pet food expenditure due to rise in per-capita-income of individuals are the key drivers for the growth of the market. The global market is majorly restrained by the price volatility of the raw materials and safety regulation related to pet food products.
Paper material type and flexible type of packaging segments are expected to have lucrative growth in the coming years
The global market is segmented on the basis of material type into plastic, paper and other. Among these, plastic material type accounted for the highest pet food packaging market size in 2019 and is expected to grow at moderate during the forecast years. This dominance is attributed to plastic materials are flexible, cost effective, durable and resistant to external influences, these benefits are increasing demand for plastic materials. However, growing government regulation on the usage of plastic materials due to it causes environmental pollution is creating major opportunity for paper packing materials. The market for paper materials is expected to rise at a faster rate and is expected to hold major revenue share in the forecast years.
Check out How COVID-19 impact on the Pet Food Packaging Market. Click here to Connect with Analyst @ https://www.researchdive.com/connect-to-analyst/298
On the basis of type of packaging, the global market is segmented into rigid and flexible. Rigid segment is further divided into cartons, boxes, bottles and others as well as flexible segment is further classified into pouch, bag and others. In both of these, flexible packaging type will experience a significant growth and is expected to generate an evident revenue share in the global market by the end of forecast years. Increasing utilization of flexible packaging due to it is safer distribution, available in variety of forms based on requirement and customizable, these benefits are expected to boost the market growth in the forecast years.
Pet food packaging market, Regional outlook
North America region dominated the global pet food packaging market share in the previous years and is estimated to remain its growth throughout the projected timeframe. Increasing animal adoption among the people owing to changing lifestyle and rising economy are directly driving the demand for pet food packaging, which will drive the market growth in the forecast years. Besides North America, Asia-Pacific region will witness to rise at a faster rate during the forecast years and is expected to generate huge growth opportunities in the coming years. Growing demand for convenience and simple packaging materials and increasing trend for pet adoption due to rise in pet food expenditure are projected to fuel the market growth in Asia-Pacific region.
Significant players in the global pet food packaging market
The prominent participants in the global pet food packaging market includes
• Ardagh Group S.A.,
• SCHELL & KAMPETER, INC.,
• Amcor plc,
• Syntegon Technology GmbH,
• Sonoco Products Company,
• WINPAK LTD.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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