Study: Advanced packaging equipment prompts growth in pet food packaging market
The pet food packaging market is dominated by the plastic segment accounting for 40.8% share in the overall market in 2017.
The global pet food packaging market was valued at $8.3 billion in 2017, and is anticipated to expand with 5.2% CAGR over the forecast period to reach $10.7 billion by 2022, according to analyses from Transparency Market Research, Albany, N.Y.
While prominent players are indulging in mergers and acquisitions and partnership, others are struggling to establish themselves in foreign soils. Additionally, most companies in the market are attempting to enhance customer loyalty by offering advanced product distribution and technologies.