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MARKET OUTLOOK

Triton Market Research’s report on the Asia-Pacific pet food packaging market states that the market is estimated to advance at a CAGR of 8.70% during the projected phase 2022-2028. South Korea, India, Australia & New Zealand, ASEAN countries, China, Japan, and Rest of APAC outline the overall market in the given region.

In 2020, the adoption of pets, especially cats and dogs, surged significantly in India. This rise in pet adoption is anticipated to support the robust volume growth in pet food categories. Moreover, the humanization trends have gained momentum across the country over the past few years, which has encouraged consumers to spend heavily on pet products. In this regard, the dog food economy is expected to record the highest value and volume growth due to the rise in dog adoption. Thus, all these factors supplement the growth of the pet food packaging market. 

Similarly, the rising humanization and premiumization trends have contributed to the studied market’s growth to a large extent in South Korea. Consumers are increasingly focusing on pet care and food, resulting in high expenditure on various pet products. In this regard, branding has become essential for companies to compete in the South Korean market. All these factors have further attracted investments in the country, adding significantly to the growth of the pet food packaging market. 

COMPETITIVE OUTLOOK

Ardagh Group SA, Crown Holdings, Sonoco Products Company, Proampac Holdings Inc, Huhtamaki OYJ, Constantia Flexibles, Printpack Inc, and Coveris Holdings SA are some of the well-known firms in the pet food packaging market.