Global Wet Pet Food Market Size is Expected to Grow $31.7 billion by 2028
As per the new report by MarketsandMarkets, the global Wet Pet Food Market size is projected to reach USD 31.7 billion by 2028, at a CAGR of 4.5% during the forecast period, 2023-2028
Chicago, Sept. 12, 2023 (GLOBE NEWSWIRE) — The global wet pet food market refers to the industry involved in the production, distribution, and sale of moist or canned pet food products designed for cats and dogs, as well as other companion animals like ferrets and rabbits. Unlike dry kibble, wet pet food is characterized by its high moisture content and comes in various forms, such as cans, trays, pouches, and tubs. A rising global trend in pet ownership, particularly among urban populations, has driven the demand for pet food products, including wet pet food. Pet owners seek convenient, nutritious, and palatable options for their pets, and wet food is often favored for its taste and texture.
Wet pet food market in terms of revenue was estimated to be worth $25.5 billion in 2023 and is poised to reach $31.7 billion by 2028, growing at a CAGR of 4.5% from 2023-2028 according to a latest report published by MarketsandMarkets™. The growing influence of pet-centric social media platforms has fundamentally transformed the way individuals perceive, interact, and care for their animal companions. The pervasive influence of pet-centric social media platforms has fundamentally altered the way pet owners engage with and perceive their animal companions.
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Wet Pet Food Market Scope:
|Market Estimated Size (2023)||USD 25.5 Billion|
|Projected Market Valuation (2028)||USD 31.7 Billion|
|Value-based CAGR (2023-2028)||4.5%|
|Number of Pages||321 Pages Report|
|Forecast period considered||2023–2028|
|Segments Covered||By Pet, By Source, By Distribution Channel, and By Region|
|Regions covered||North America, Europe, Asia Pacific, South America, and RoW|
Some of the major Wet Pet Food Market players covered in the report, such as:
- Nestlé (Switzerland)
- Mars, Incorporated (US)
- Colgate-Palmolive Company (US)
- Unicharm Corporation (Japan)
- Thai Union Group PCL (Thailand)
- Charoen Pokphand Foods PCL (Thailand)
- General Mills Inc. (US)
Wet Pet Food Industry Report (321 Pages, 229 Tables, and 58 Figures): https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=84650226
The research report categorizes the market into the following segments:
Wet Pet Food Market by Pet
Wet Pet Food Market by Source
- Plant Derivatives
Wet Pet Food Market by Distribution Channel
- Pet Specialty Stores
- Convenience Stores
Wet Pet Food Market by Region
- North America
- Asia Pacific
- South America
- Rest of the World (RoW)
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The key stakeholders in the Wet Pet Food Market include:
- Pet Food Manufacturers: Companies involved in the production of wet pet food, ranging from large multinational corporations to smaller, specialized manufacturers, are at the core of the industry. They formulate, process, and package wet pet food products.
- Retailers: Retailers, including pet supply stores, supermarkets, and online pet food retailers, are essential intermediaries that make wet pet food products available to consumers. They stock and sell these products to pet owners.
- Pet Owners: Pet owners are the end-users of wet pet food. They purchase and provide wet pet food to their cats, dogs, and other companion animals. Their preferences and choices drive market demand.
- Veterinarians: Veterinary professionals play a vital role in recommending and endorsing specific wet pet food brands and formulations to address the dietary needs and health concerns of pets. Some veterinary clinics also sell pet food products.
- Pet Food Distributors: Distributors are responsible for the logistics of getting wet pet food products from manufacturers to retailers. They manage storage, transportation, and inventory control within the supply chain.
- Pet Food Ingredient Suppliers: Suppliers of ingredients and raw materials, such as meat, vegetables, and additives, provide the essential components used in the formulation of wet pet food products.
- Industry Associations: Organizations like the Pet Food Institute (PFI) in the United States and other regional and international pet food associations represent the interests of pet food manufacturers and provide industry insights, standards, and advocacy.
- Regulatory Authorities: Government agencies, such as the Food and Drug Administration (FDA) in the United States and equivalent agencies in other countries, regulate the safety and labeling of pet food products. They establish guidelines and standards that manufacturers must adhere to.
- Consumer Advocacy Groups: Organizations focused on pet welfare and consumer advocacy monitor the quality and safety of pet food products. They may raise awareness of issues related to pet food quality and advocate for better industry practices.
- Packaging Suppliers: Suppliers of packaging materials and containers, such as cans, pouches, and trays, are crucial for the presentation and preservation of wet pet food products.
Wet Pet Food Market Frequently Asked Questions (FAQs):
Q1. How big is the wet cat food market?
Q2. What are the factors driving the wet pet food market?
Q3. Which segment by source accounted for the largest wet pet food market share?
Q4. What are the key players in the market?
Q5. Which region is projected to account for the largest share of the wet pet food market?
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This report provides insights on the following pointers:
- Strong Market Growth: The wet pet food market has experienced consistent growth in recent years, driven by increasing pet ownership worldwide. Pet owners are increasingly turning to wet food due to its perceived higher quality and palatability.
- Premiumization Trend: There is a growing trend toward premium and high-quality wet pet food products. Consumers are willing to pay more for wet food options that offer natural ingredients, limited additives, and specific health benefits for their pets.
- Health and Nutrition Focus: Pet owners are becoming more conscious of their pets’ health and nutrition. This has led to a demand for wet pet food products that address specific dietary needs, such as grain-free, hypoallergenic, and weight management formulations.
- Humanization of Pets: The humanization of pets has led to an increase in demand for pet food products that resemble human food in terms of ingredients, quality, and presentation. This includes gourmet and specialty wet pet food options.
- E-commerce Growth: The rise of e-commerce has significantly impacted on the distribution of wet pet food. Online retailers and subscription services offer convenience and a wide variety of options, attracting pet owners looking for easy access to pet food products.
- Sustainability Concerns: Pet owners are becoming more environmentally conscious, leading to increased interest in eco-friendly packaging and sustainable sourcing practices in the wet pet food industry.
- Customization and Personalization: Some manufacturers are offering customizable wet pet food options, allowing pet owners to tailor their pet’s diet based on their preferences, dietary restrictions, and health needs.
- Veterinary Recommendations: Veterinary professionals play a crucial role in guiding pet owners toward suitable wet pet food options, particularly for pets with specific health conditions. This recommendation-driven approach influences consumer choices.
- Transparency and Ingredient Sourcing: Consumers are increasingly seeking transparency in the sourcing and production of pet food ingredients. Manufacturers are responding by providing detailed information about the quality and origins of their ingredients.
- Diverse Packaging Formats: Wet pet food products are available in various packaging formats, including cans, trays, pouches, and tubs, catering to different consumer preferences and serving sizes.
Probiotics in Animal Feed Market
Pet Food Ingredients Market
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
- Detailed analyses and profiling of additional market players (up to five)
- Further breakdown of the rest of Asia Pacific wet pet food market into Australia, New Zealand, Kazakhstan, Uzbekistan, Kyrgyzstan, Tajikistan, and Turkmenia.
- Further breakdown of rest of Europe market into Belgium, Netherlands, other EU, and non-EU countries.
- Further breakdown of the rest of South America’s wet pet food market into Chile, Venezuela, Peru, Columbia, Paraguay, and Uruguay.
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