Pet Food Packaging Market to Reach $7.1 Billion by 2032

The global pet food packaging market is expected to grow significantly in the coming years, driven by factors like the increasing humanization of pets and rising pet adoption rates. This growth is also being fueled by increasing demand for sustainable and environmentally friendly packaging options. The market is projected to reach US$ 7.1 billion by 2032, with a CAGR of 3.7% from 2024 to 2032.

U.S. Plastics Pact Expands Efforts to Eliminate Problematic Plastics, Promoting Circular Economy

The U.S. Plastics Pact has released an updated report outlining its commitment to eliminating problematic and unnecessary plastics from the packaging industry. The report identifies specific materials targeted for elimination or redesign by 2030, emphasizing the importance of circularity and sustainable packaging practices. This initiative aligns with the U.S. government’s recent shift to support global goals for limiting virgin plastic production.

Digital Printing Market Projected to Reach US$ 54.4 Billion by 2034

The global digital printing market is experiencing rapid growth, driven by factors such as declining printing costs, reduced waste, and technological advancements. Key trends include the rise of digital textile printing, increased demand for personalized packaging, and the adoption of innovative printing technologies like UV LED printers. The market is expected to reach US$ 54.4 billion by 2034, with the Asia Pacific region leading the way.

Karat Packaging Misses Q2 Estimates, Stock Dips 8.5%

Karat Packaging, Inc. (KRT) saw its stock decline after reporting lower-than-expected second-quarter 2024 revenues and earnings per share. The company attributed the shortfall to unfavorable pricing comparisons, increased freight costs, and higher operating expenses. Despite revenue growth, the company’s adjusted EBITDA and cash position were down year-over-year. Karat Packaging expects continued sales growth in the coming quarters.

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