Pet food, which is composed of a high percentage of water, ranging between 75% and 85%, along with other dry ingredients, is termed as wet pet food. The wet pet food is increasingly being preferred by pet owners as they help to boosts energy, builds muscles and lean mass, and stimulates the overall growth mechanism in animals. Consumption of wet pet food helps to provide the necessary nutrients such as proteins, vitamins, and minerals to pets to keep them healthy and hydrated. Moreover, such kinds of foods are considered as an ideal option for pets who cannot chew properly due to missing teeth, improper adjustment of jaws, or other related pet concerns. Such advantages offered by wet pet food makes them a popular and attractive option and the best source of hydration.
The wet pet food market in Europe is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to the increase in the region owing to the rapid rise in pet population and surging consumer demand for premium quality products for their pets. Also, growing trend towards adoption of pets is also driving the market growth in Asia Pacific region. The wet pet food manufacturers are expanding their production activities in developed countries such as Netherlands, Italy, and UK so as to meet the rising demands of wet pet foods in the region.
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Wet Pet Food Market: Strategic Insights
Wet pet food is easily available at different retail channels such as supermarkets and hypermarkets, specialized pet shops, online stores, and others. Among these, online stores for wet pet food is gaining popularity in emerging countries such as India and China. Increased use of mobile phones, computers, and laptops has helped in the growth of digital channels, both in strength and volume. Pet owners in India and China are adopting the idea of online shopping as it saves time, money, and efforts over other distribution channels. Also, these portals provide detail information about the product, such as product description, user's review, application, and usage of the product, which helps the buyer compare different products at a glance and accordingly choose appropriate products for their pets. Apart from this, features such as 24×7 availability, easy access, secure payment options, lesser time, and home delivery have encouraged pet owners to shop online. Amazon, Chewy, Pupkart, and PetShopIndia are among the popular online portals that have helped boost online sales of wet pet food in these countries.
Based on product type, the wet pet food market is bifurcated into dog food, cat food, and others. The dog food segment accounted for a larger market share in 2018. Dogs are among the most preferred pets across the world. They are omnivore and thus adopt traditional eating habits, such as meat and non-meat scraps. They require proper nutrition at every stage of their life. Therefore, a complete diet program with an adequate combination of carbohydrates, minerals, proteins, fats, vitamins, and water is crucial to maintain healthy body weight. Wet pet food contains a higher amount of aforementioned nutrients, and thus, dog owners prefer buying wet pet food. Wet food helps dogs fight infection, perform daily activities, repair teeth and bones, and maintain their build and muscle tone. Thus, all are expected to propel the demand for the wet pet food during the forecast period.
Based on packaging type, the wet pet food market is segmented into cans, pouches, and others. The cans segment accounted for the largest market share in 2018. The Growing concerns related to pet health among pet owners have raised the demand for products that are attractive, informative, and protective. This fact has encouraged pet food manufacturers to introduce attractive, colorful canned packaging with informative labels. However, environmental organizations such as the Ecology Center based in California have stated that canned pet food may contain toxic chemicals such as PVC or a BPA-based coating that can lead to potential health risks in pet animals. Also, low recycling rates for pet food cans result in landfills, thereby causing environmental pollution. All these factors are restricting the use of canned pet food among buyers and attracting them toward other sustainable pet food packaging options such as coated paper bags and barrier laminate bags.
A few players operating in the wet pet food market are Blue Buffalo Co., Ltd, Butcher's Pet Care, De Haan Petfood, FirstMate Pet Foods, Hill's Pet Nutrition, Inc., Little BigPaw, Mars, Incorporated, Monge SPA, Nestlé Purina PetCare and Petguard Holdings, LLC among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.
The regional trends and factors influencing the Wet Pet Food Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Wet Pet Food Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 22.22 Billion |
| Market Size by 2027 | US$ 36.41 Billion |
| Global CAGR (2018 - 2027) | 5.7% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Wet Pet Food Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Wet Pet Food Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies in Global Wet Pet Food Market
Cat wet pet food is expected to grow at a faster pace than dog wet pet food, as cats have comparatively have low thirst drive and consume less water than dogs. Rising trend of adopting cats among youngsters and millennial due to low maintenance than dogs coupled with the growing preference of cat owners toward superior food products is expected to support the growth of wet cat food segment in wet pet food market.
The major players operating in the global wet pet food market, includes Mars, Incorporated, Nestlé Purina Petcare, Hill's Pet Nutrition, Inc., Petguard Holdings, LLC., and Monge SPA.
The global industry for wet pet food is estimated to grow at a CAGR of 5.7% during the forecast period of 2019-2027.