Global pet-care flexible-packaging market to reach $6.7 billion in 2027: new study
Flexible packaging for pet-care products, one of the segments analyzed in the report, is projected to record a 4.7% CAGR and reach $6.7 billion by 2027. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the rigid-metal segment is readjusted to a revised 1.8% CAGR for the next 7-year period.
The Pet-Care Packaging market in the US is estimated at $2.4 billion this year. China, the world’s second-largest economy, is forecast to reach a projected market size of $2.4 billion by 2027, trailing a CAGR of 6.9% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.8%, respectively, over the 2020-2027 period. Within Europe, Germany is forecasted to grow at approximately 1.9% CAGR.