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MARKET OUTLOOK

Triton’s research report on the pet food packaging market in Latin America suggests that the market is estimated to display growth at a CAGR of 8.05% during the evaluated period 2021-2028. Mexico, Brazil, and Rest of Latin America shape the market in this region.

In recent years, disposable income among consumers has increased significantly across the region. Additionally, the number of pet owners has surged in the region, increasing the demand for nutritious food. Furthermore, Chile has introduced pet products that are imported into the local market, adding to the premiumization trend. Several companies are also taking steps to tap into the growing pet food market. For instance, BRF pet signed an agreement to acquire Mogiana Alimentos. This step will help BRF hold a significant amount of share in the Brazilian pet food sector. Therefore, all these factors are propelling the pet food packaging market on a growth path. 

In Rest of Latin America, the key countries in the studied market are Chile, Colombia, and others. Chile is anticipated to show significant growth in the pet food packaging market. With the rise in the pet population and their humanization, the demand for premium pet care is expected to boost the market over the forecast period. In this regard, consumers are anticipated to incline majorly on ecommerce for premium products. Therefore, as mentioned above, these factors are anticipated to drive the growth of the pet food packaging market over the forecasted period across the region. 

COMPETITIVE OUTLOOK 

The key companies thriving in the pet food packaging market include Aptar Group Inc, Ardagh Group SA, Printpack Inc, Coveris Holdings SA, Proampac Holdings Inc, Huhtamaki OYJ, American Packaging Corporation, and Sonoco Products Company.