Innovations in packaging within the US pet product market

The pet product market in the US has seen steady growth over the last five years, climbing from roughly $37 bn in 2010 to almost $44 bn in 2014, a compound annual growth rate (CAGR) of 4 per cent for the period. According to “Pet Product Packaging Innovation: Consumer Perspectives”, a brand-new report by market research publisher Packaged Facts, the packaging choices of marketers are among the most influential trends affecting the future of pet products, due to the fact that packaging is closely linked to consumer satisfaction.
Innovations in packaging, such as new types of closures on pet foods or compostable packaging, can spur sales of specific pet products and brands. Likewise, strong sales of a particular brand (and its associated packaging choices) will often spur other marketers to develop a similar style of packaging to keep up with the latest trends within the industry.