25, February 2022
Pet ownership across the globe has grown significantly due to increased disposable incomes, rapid urbanization, and a rise in nuclear families. This growth was further amplified due to lockdown impositions resulting from the onset of the pandemic. With the rising pet adoption across the globe, the demand for pet food has increased steadily in the past few years. Pet parents have a special affection towards their animal companions, and are very particular about their wellbeing. Thus, they are willing to invest more in their food, which has consequently raised the demand for packaging. According to Triton Market Research, the global market for pet food packaging is estimated to amount to a staggering $18.58 billion by 2028.
Packaging has high correlation with the branding and sale of pet foods, as it majorly impacts customers’ perception about a product. Players in the market have majorly leveraged the growing customer sentiment towards pet care. In a bid to stand out from their competitors and gain more recognition, companies have been designing their products in innovative ways. Apart from this, they have been adopting various other strategies to gain buyers’ trust, which are as follows:
Product launches are an essential element for advancing a brand’s positioning in the market. With the widening spotlight on sustainability, many companies have started offering solutions to cater to today’s well-informed buyers. For instance, in November 2021, Polytex Fibers introduced its “PurE” range of mono-material bags and films. The range comprises products made from 100% polyethylene bags and films. These are 100% recyclable and offer all the performance benefits expected from multi-structure laminated bags and films.
Moreover, with the rapid influx of premium-category brands in the market, product differentiation based on packaging becomes imperative. Graphics play a defining role in this case, and hence, there has been an uptick in paper-touch and soft-touch treatments. This not only gives a unique look to the products, but also acts as a sensory improvement for purchasers.
In August 2021, Japan-based Huhtamaki Oyj announced it would acquire Turkish flexible packaging solutions provider Elif for a deal of $483 million. On the other hand, Nabtesco Corporation acquired Engilico Group, a seal inspection technologies provider for food and pet food packaging, a few months later, in October. With this move, Engilico hopes to support its goal of establishing a strong global presence for its innovative inspection systems in the pet food sector.
Acquisitions are promising developments for companies in the food packaging space. They help the acquired entities by reducing the entry barriers, while aiding the acquiring companies in capacity building. Through this, they can consolidate their market share and also build authority. In May 2021, ProAmpac acquired El Dorado Packaging, which provides paper-based packaging and printing solutions to an array of industries, including animal health. With this acquisition, ProAmpac aims to expand its paper and multi-wall packaging offerings.
A strategic alliance strengthens the participating companies against industry rivals, as it leverages their strengths to achieve a common goal. It is also a monetarily sound decision that helps them save costs. Besides, it can be a wise move for a business while establishing its presence in a new market. In October 2021, Mondi entered into an agreement with Hau-Hau Champion, a renowned brand in Finland offering premium dog food, to supply a range of recyclable, mono-material pet food packaging solutions.
Whereas, earlier in June 2020, Nestlé Purina PetCare announced collaborating with Amcor, a leading global brand for packaging. Through this partnership, they developed a 100% recyclable, high-barrier packaging solution to produce wet food pouches for cats. Together, they designed the packaging, tested it for heat resistance, shelf-life stability, machine performance, and real-world recyclability. Thus, a business partnership combines the synergies of companies, adds value, increases the brands’ awareness, and garners trust.
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Since financial strength plays a key role in carrying out growth strategies, established vendors with a strong access to distribution channels have a strong foothold in this market. However, the monumental shift of the market towards sustainable packaging has given opportunities to several new startups that can be seen emerging in this space. Sustainability, food safety, and pet health are three important areas where manufacturers can focus on to win over potential customers.
In the competitive pet food marketplace, it is packaging that puts a brand’s identity upfront with the customer. Therefore, there is a strong need to capture their attention. Brands that scrutinize every detail of their offering and assess the market trends, in order to focus better on growth strategies, stand to find an edge in this environment. Pet humanization is one of the biggest trends reshaping the entire pet care industry, and brands that can earn the owners’ trust and loyalty are bound to grow and profit.
Concern for the environment is playing a key role in influencing buyer behavior. As pet owners want to reduce their carbon footprint, sustainability is a deciding factor for their purchasing decisions. The growing emphasis on sustainability has led to brands adopting more eco-friendly ways for packaging pet food.
Amcor Plc, Berry Global Group Inc, Transcontinental Inc, Coveris Holdings SA, Crown Holdings, Huhtamaki Oyj, Printpack Inc, Winpak Ltd, Aptar Group Inc, Ardagh Group SA, Constantia Flexibles, Proampac Holdings Inc, Goglio SpA, Mondi Plc, Silgan Holdings Inc, Sonoco Products Company, and American Packaging Corporation are some of the leading names in the pet food packaging market.
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