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The wet pet food market is estimated to grow at a CAGR of 6.61% between 2022 and 2027. The size of the market is forecasted to increase by USD 9,735.38 million. The growth of the market depends on several factors, including the rise in pet ownership, the growth of the organized retail sector for wet pet food, and the increasing demand for organic wet pet food.
This report extensively covers market segmentation by product (cat food, dog food, and others), distribution channel (pet-specialty stores and vet clinics, supermarkets and hypermarkets, convenience stores, and others), and geography (North America, Europe, APAC, South America, and Middle East & Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rise in pet ownership is notably driving the market growth, although factors such as the stringent regulations on wet pet food by food regulatory bodies may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Wet Pet Food Market Driver
Increasing demand for organic wet pet food is the key factor driving the growth of the global wet pet food market. Demand for organic wet pet food is expected to increase during the forecast period due to the benefits of organic ingredients such as pesticides, synthetic fertilizers and GMO-free high-quality meats, fruits and vegetables. Organic meats contain antibiotics. It comes from non-genetically modified animals. Vegetables and fruits are also nutrient-selected to provide important vitamins and minerals to help keep your pet healthy. Organic pet food is preferred by many pet owners because it is made with high-quality ingredients that are free of harmful chemicals that can harm your pet.
Moreover, pet owners with older pets purchase wet pet food products mainly because the teeth of older pets are not as strong as they once were and hence, need easier-to-chew foods. Many pet owners prefer healthy and nutritious pet foods. This is increasing the popularity of organic pet food, which is perceived to contain no preservatives, artificial colors, or flavors, but more protein and nutrients than regular wet pet foods. Thus, the increasing demand for organic wet pet foods is expected to drive the growth of the global wet pet food market during the forecast period.
Significant Wet Pet Food Market Trend
Growing popularity of customized pet foods is the primary trend in the global wet pet food market. The customization of wet pet foods to suit the individual nutritional needs of pets is gaining, and pet owners are increasingly becoming aware of the ingredients in pet foods and their specific health benefits and are willing to pay a premium amount for pet 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.
Several vendors offer custom pet 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. Rise is expected to drive the growth of the global wet pet food market over the forecast period.
Major Wet Pet Food Market Challenge
Stringent regulations on wet pet food by food regulatory bodies are major challenges to the growth of the global wet pet food market. The FDA regulates and controls canned pet food and food labeling for pet food. Through its regulations, it ensures that pet food is safe for pet consumption, free of artificial ingredients and preservatives, and properly labeled. Ingredients such as meat, salmon, grains and poultry are considered safe and do not require premarket approval. However, other ingredients such as processing aids, flavors, preservatives, and vitamin/mineral sources must be approved as food additives. Food labeling is supervised by the FDA, federal bodies, and various state governments. FDA checks for the proper product identification, name, net quantity statement, and listing of ingredients in order of their usage from maximum to minimum.
Most of the food labeling regulations are as per the Association of American Feed Control Officials (AAFCO), whose labeling rules are like that issued by the FDA with regards to food labeling and checklists for labels. It also checks for specific claims in pet foods, such as hairball control, sensitive digestive tract, maintaining urinary tract, and others. Thus, such stringent regulations associated with wet pet food will hamper the growth of the global wet pet food market during the forecast period.
Key Wet Pet Food Market Customer Landscape
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Wet Pet Food Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Blue Buffalo Co. Ltd. - The company offers wet pet food products such as blue wilderness, homestyle, and rocky mountain.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the cat food segment will be significant during the forecast period. The demand for wet cat foods is expected to grow at a moderate rate. Wet cat foods are helpful for older cats, as they are easier to chew. These foods ensure proper nutrition for cats.
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The cat food segment was valued at USD 11,586.25 million in 2017 and continued to grow until 2021. Vendors are launching new products to increase their market share. For instance, in June 2021, Mars Inc. announced the launch of wet cat food under its brand Whiskas to expand its cat food range in India. Therefore, the increasing launch of new products will augment the growth of the wet cat food segment during the forecast period.
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North America is estimated to contribute 49% to the growth of the global market during the forecast period. 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 food products with high quality. The FDA regulates the safety and quality of pet foods 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. The increasing ownership of pets, particularly dogs, is also driving market growth in the region.
In 2020, the outbreak of COVID-19 negatively affected the wet pet food market in countries such as the US and Canada. However, the sales of wet pet food through online channels increased, with the rising adoption of pets. In addition, the initiation of vaccination drives led to the restoration of the supply chain and the reopening of manufacturing units, which stabilized the growth of the market in 2021. Vendors in the market are adopting e-commerce channels to increase their sales in the region. They are also focusing on alternative methods, such as online branding, to introduce their products to potential customers. All these factors are anticipated to propel the growth of the wet pet food market in North America during the forecast period.
The report forecasts market growth by revenue at global, regional, and country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The reports categorize the global wet pet food market as a part of the Packaged Foods & Meats market, which covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Technavio calculates the global packaged foods and meats market size based on the combined revenue generated by the vendors operating in the market. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Wet Pet Food Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.61% |
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Market growth 2023-2027 |
USD 9,735.38 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.16 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East & Africa |
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Performing market contribution |
North America at 49% |
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Key countries |
US, Japan, UK, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
C and D Foods Ltd., Champion Petfoods LP, Darling Ingredients Inc., De Haan Petfood, Evangers Dog and Cat Food Co. Inc., FirstMate Pet Foods, Freshpet Inc., Harringtons Pet Food, Hills Pet Nutrition Inc., Mars Inc., Nestle SA, Phelps Pet Products, Schell and Kampeter Inc., Simmons Foods Inc., Spectrum Brands Holdings Inc., The J.M Smucker Co., Tiernahrung Deuerer GmbH, Wellness Pet Co. Inc., Beaphar Beheer BV, and Blue Buffalo Co. Ltd. |
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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. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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