Wet Pet Food Market - Global Analysis and Forecasts to 2027
The global Wet Pet Food Market accounted for 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 for US$ 36,406.5 Mn by 2027.
Wet pet foods are a good source of hydration for pet animals that show reluctance towards drinking adequate amounts of water. The contents of wet pet foods usually include chunks in gravy, chunks in jelly, casserole and meatloaf formats. 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 and keep pet 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.
Based on the product, wet pet food market is segmented into dog food, cat food, and others. In 2018, the dog food segment held a considerably large share of the global wet pet food market.
The rising trend of nuclear families, rapid humanization of pets, and increased awareness about pet health have raised the demand for wet food for dogs in recent years. Furthermore, initiatives by various non-governmental organizations such as building rescue shelters, and growing compassion and care toward the health of stray dogs have driven the demand for high-quality dog food, which would, in turn, propel the sales of wet dog food.
North America holds the largest share of the global wet pet food market and is projected to maintain its dominance over the forecast period. The growth of the wet pet food market in this region is primarily attributed to the presence of a large consumer base and high pet ownership in the US. Major market players present in North America wet pet food market includes Blue Buffalo Co., Ltd., FirstMate Pet Foods, and Mars, Inc., among others. These players are constantly working towards the innovations in new product developments of wet pet food with improved characteristics and high qualities.
In the European region, the UK holds the largest share of the wet pet food market. The wet pet food demand in the UK is driven by the increasing population of pets. The pet food products have gained importance in the UK market owing increased focus of pet keepers towards healthy products along with empathy for pets. Moreover, the rise in disposable incomes of consumers in the UK has allowed the manufacturers to purchase better and healthy products for their pets in the UK.
Some of the players present in the global wet pet food market are Blue Buffalo Co., Ltd., De Haan Petfood, FirstMate Pet Foods, Little BigPaw, Mars, Inc., Monge SPA, Petguard Holdings, LLC, Hill's Pet Nutrition, Inc., Nestlé Purina PetCare, and Butcher's Pet Care among others.
The overall global wet pet food market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the wet pet food market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the wet pet food market.
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by Research and Markets