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The global wet pet food market is projected to reach a value of USD 38.24 billion in 2028 with a CAGR of 6.66% between 2023 and 2028. The increasing demand for organic pet food is the key factor driving market growth. Pet owners with older pets buy wet animal food products especially because the teeth of older pets are not as strong as they once were and, therefore, need easier-to-chew foods.
Analysis Period | 2018-2028 |
Market Size (2018) Historic Year | USD 27.70 billion |
Market Size (2028) - Forecasted Year | USD 38.24 billion |
Historic Opportunity (2018-2022) | USD 8.06 billion |
Historic CAGR | 6.59 % |
Forecasted Opportunity (2024-2028) | USD 10.54 billion |
Market Opportunity Transformation Growth | 38.05 % |
Market Opportunity Capitalization | USD 18.60 billion |
Pet meal manufacturers like Thrive, Lily Kitchen, and Party Animal are popular for their organic moist animal food offerings in canned packaging. The increase in health issues such as skin allergies, arthritis, brain aging, digestive disorders, and obesity among pets is a serious concern for pet owners. This is increasing the popularity of organic food. Thus, the increasing demand for organic damp pet meals is expected to drive the market growth analysis during the forecast period.
The market shows an Accelerated CAGR during the forecast period.
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The wet pet food market refers to the industry that produces and sells canned or pouch pet food with higher moisture content. Wet pet food is often more palatable for pets due to its texture and aroma. This market has been experiencing steady growth in recent years, driven by increasing pet ownership and pet humanization trends. Some popular types of wet pet food include pâté, chunks in gravy, and shredded varieties. Wet pet food typically contains a higher percentage of animal-based protein compared to dry kibble options.
The growing popularity of customized pet meals is the primary trend shaping market growth. The customization of foods to suit the individual nutritional needs of pets is gaining, and pet owners are increasingly becoming aware of the ingredients in foods for animals and their specific health benefits and are willing to pay a premium amount for foods formulated using ingredients with the organic, single-protein source. Besides, with the increasing humanization of pets, pet owners increasingly prefer products that cater to the specific dietary needs, taste preferences, and caloric requirements of their pets.
Moreover, some market players offer custom food products. For example, Nestlé SA is a subsidiary of Purina and offers Just Right branded dog food. This brand of food is formulated based on information such as the age, breed, and medical history of the dog. The company gathers information through online surveys on its website to prepare and offer customized dog food tailored to the nutritional needs of dogs. The rise is expected to drive the growth of the global market over the forecast period.
Stringent regulations on moist foods by food regulatory bodies is a challenge that affects market growth. The FDA regulates and controls canned pet food and food labelling on foods. Its regulations, confirm that foods are safe for animal consumption, include no artificial ingredients or preservatives, and are labelled correctly. Ingredients like meat, salmon, grains, poultry, and others are considered safe and do not require pre-market approval. Nevertheless, other ingredients like processing aids, flavourings, preservatives, and sources of vitamins/minerals need to be approved as food additives.
Moreover, most of the food labelling regulations are as per the Association of American Feed Control Officials (AAFCO), whose labelling rules are like those issued by the FDA concerning food labelling and checklists for labels. It also checks for specific claims in foods, such as hairball control, sensitive digestive tract, maintaining urinary tract, and others. Therefore, such stringent regulations may impede market growth during the forecast period.
Consumer Behavior and Buying Patterns
Approximately 65% of pet owners prefer feeding their pets wet food due to perceived health benefits. Premium and organic wet food products account for nearly 40% of the total market share. Around 70% of pet owners consider wet pet food as a convenient option for their pets' nutrition and hydration needs. Consumer major focus on canned wet dog food that comes in sealed cans and has a high moisture content. This type of dog food is often preferred by pet owners for its palatability and ability to provide hydration. Canned dog food typically contains a variety of ingredients, including meat, vegetables, and grains, creating a balanced and flavorful meal for dogs. It offers convenience for pet owners and is available in various brands, flavours, and formulations to cater to different canine dietary needs.
Pet speciality stores offer a broad variety of pet food of different brands and prices. These pet-specialty stores house all pet-related things such as treats, healthcare, dietary supplements, and pet accessories. Therefore, consumers prefer to purchase pet treats in select pet-specialty stores. Countries like the US, the UK, China, and others have a large number of pet speciality stores. Furthermore, many veterinarians suggest buying and feeding pets with specific moist pet meal products available at vet clinics. Nowadays, sales of food from vet clinics are increasing at a fast pace. Hence, the increasing sales of moist food from pet speciality stores and vet clinics will drive the growth of the market during the forecast period.
Market Segmentation by Product Type
The market share growth by the cat food segment will be significant during the forecast period. The demand for wet cat meals is expected to grow at a moderate rate. These foods are helpful for older cats, as they are easier to chew. These foods ensure proper nutrition for cats. It has a high satiety value due to its good level of moisture content that helps the cats to feel fuller.
The cat food segment was valued at USD 15.87 billion in 2018.
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Furthermore, pet foodstuffs industry players are launching new products to increase their market share. For instance, in June 2021, Mars Inc. announced the launch of wet kitten food under its brand Whiskas to expand its food range in India. Therefore, the increasing launch of new products will augment the growth of the segment during the forecast period.
The demand for moist foods is anticipated to grow moderately, driven by their role in addressing hydration needs and aiding older cats with easier chewing. Particularly beneficial for cats with diminished olfactory senses, wet foods provide rich smells and flavours. They become crucial for sick or elderly cats with dental issues, ensuring proper nutrition and easy digestion. Despite offering diverse flavours, wet foods face challenges in storage and shelf life compared to dry alternatives, impacting their market competition in the pet food industry. Consumers' awareness of these factors, along with the convenience of purchasing from a pet supply store, influences the preference for canned food varieties in the dog food market, including wet dog foods and other dog foods.
North America is estimated to contribute 48% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Consumers in North America prefer wet pet meal products with high quality. The FDA regulates the safety and quality of pet meals under the FSMA to ensure quality control and supply chain management. The demand for premium pet products is increasing in the region due to concerns regarding pet allergies and better nutrition.
In addition, the increasing ownership of pets, particularly dogs, is also driving market growth in the region. In Canada, the demand for premium wet dog foods increasing rapidly. In line with this, niche products such as organic, natural, and free-from-pet offerings are currently gaining popularity. Modern retail channels such as supermarkets and hypermarkets in Mexico focus on expanding their selling space dedicated to pet meals offerings. Thus, the demand for moist pet meals has increased over the years and is expected to grow market growth and trends at a high rate during the forecast period.
Companies are implementing various strategies, such as strategic alliances, competition, market forecasting, competitive landscape and strategies partnerships, pricing analysis and strategies, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.66% |
Market Growth 2024-2028 |
USD 10.54 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.4 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 48% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Beaphar Beheer BV, C and D Foods Ltd., Champion Petfoods Holding Inc., Clearlake Capital Group L.P., Colgate Palmolive Co., Darling Ingredients Inc., De Haan Petfood, FirstMate Foods, Freshpet Inc., Harringtons Food, Mars Inc., Nestle SA, Phelps Pet Products, Schell and Kampeter Inc., Simmons Foods Inc., Tiernahrung Deuerer GmbH, VAFO Group a.s., Blue Buffalo Co. Ltd., Evangers Dog and Cat Food Co. Inc., and Spectrum Brands Holdings Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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