Growing inclination of pet owners towards superior pet food products is projected to escalate the wet pet food market at a CAGR of 5.7%
Latest market study on “Global Wet Pet Food Market to 2027 - Global Analysis and Forecasts by Product (Dog Food, Cat Food, Others); Packaging Type (Canned, Pouches, Others); Distribution Channel (Supermarkets and Hypermarkets, Specialized Pet Shops, Online, Others), and Geography”, The global wet pet food market is accounted to US$ 22,218.1 Mn in 2018 and is expected to grow at a CAGR of 5.7% during the forecast period 2019 - 2027, to account to US$ 36,406.5 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in global wet pet food market and their developments.
On the basis of product, the wet pet food market is categorized into dog food, cat food and others. In 2018, dog food led the global wet pet food market. Dogs are among the most preferred pets across the world. 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. Moreover, it is imperative to focus on providing pets with nutrient-rich food in their early stages of life to enhance organ development and growth. Benefits offered by wet pet food is attracting dog owners which is anticipated to drive the growth of this segment.
North America wet pet food market was the largest market in 2018 with a share of 40.0%. Wet pet food is composed of plant and animal-derived substances. It is a mixture of protein, carbohydrates, vitamins, and other nutrients, which are considered essential for the growth of animals. North American comprises several developing economies including the US, Canada, Mexico among others. With an increasing focus towards pet humanization, the demand for pet foods and products in the region has increased substantially. The growing concern towards maintaining health of pets with the rapid rise in the pet population and surging product innovations are some factors that are leading to an increase in demand for wet pet food in the North American countries. Manufacturers such as Hill's Pet Nutrition, Inc., Blue Buffalo Co., Ltd, are coming up with premium pet food products with a focus towards safety, quality, and ingredient source of pet food. Rising digital media and the expansion of business models are providing an opportunity to promote the consumption of wet pet foods.
The market for global wet pet food is concentrated with some very well-established players. Some of the key players in the global 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 among others.
Global Wet Pet Food Market - By Region Breakdown, 2018
The report segments the global wet pet food market as follows:
Global Wet Pet Food Market - By Packaging Type
Global Wet Pet Food Market - By Distribution Channel
Global Wet Pet Food Market - By Geography
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