he growth of the global wet cat food market demand is majorly driven by increase in preference of cat owners to feed wet cat food to their cats. This is attributed to the fact that wet cat food provides better nutrition to cats with ill health, as they lose their appetite. The rising trend of spending more on pet food by the pet owners is likely to shape the market in the future.
The global wet cat food market is expected to offer remunerative business opportunities in the developing economies such as India and China. This is attributed to increase in adoption of pets, including cats, and rise in awareness regarding pet health and their health issues.
According to a new report published by Allied Market Research, Wet Cat Food Market size was valued at $4.6 billion in 2020, and is projected to reach $7.9 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030.
Key Take Away
- Conventional segment accounted for the highest wet cat food market share in 2020, and is expected to grow at a CAGR of 5.6% from 2020 to 2030
- Specialty store was the prominent segment, in terms of market share, in 2020, and is anticipated to grow at a CAGR of 5.4%
- Asia-Pacific occupied the maximum share in the wet cat food market in 2020, and is expected to dominate during the wet cat food forecast period
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Primary Factors Influencing Growth
The global market for wet cat food is expanding as more cat owners choose to feed their cats this type of food. Wet cat food is more expensive and has a shorter shelf life than dry cat food, which limits market expansion. However, the availability of cat snacks, which are also offered in moist form, opens up new possibilities in the years to come.
The global wet cat food market is expected to offer remunerative business opportunities in the developing economies such as India and China. This is attributed to increase in adoption of pets, including cats, and rise in awareness regarding pet health and their health issues.
Key players operating in the wet cat food market have adopted key developmental strategies such as product launch to fuel demand for wet cat foods in the market. In addition, they have emphasized on continuous innovations in their products to maintain a strong foothold in the market and to boost wet cat food demand globally.
Internet sales have been presenting continuous growth over the years. The availability of info-centric health products, such as natural, organic, and nutritional foods, as per consumers’ demand has gained immense popularity, owing to rapid increase in pet humanization. Asia-Pacific is one of the lucrative markets for wet cat food.
However, existing challenges such as availability of close substitutes and lack of awareness regarding wet cat food benefits are expected to hamper the growth of the wet cat food market.
The conventional segment will continue to lead during the predicted period.
According to nature, the conventional segment accounted for 94 percent of the global wet cat food market in 2020 and is anticipated to keep up its dominance for the duration of the forecast period. This is largely related to increased knowledge of health problems in companion animals, including physical and mental diseases. Additionally, the organic segment is anticipated to have the greatest CAGR of 7.4% between 2021 and 2030. This is because people are becoming more aware of the advantages of organic wet cat food.
The mass segment to maintain its lead position during the forecast period
Based on price point, the masssegment accounted for the largest share in 2020, contributing to nearly three-fifths of the global wet cat food market, and is projected to maintain its lead position during the forecast period. This is due to their affordability and easy availability in small or local pet stores. Moreover, the premium segment is expected to portray the largest CAGR of 6.1% from 2021 to 2030, owing to operating players in the industry who are now venturing into premium segment to cater on a new consumer class.
Asia-Pacific, followed by North America, to maintain its dominance by 2030
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global wet cat food market. Moreover, this region is expected to witness the fastest CAGR of 7.1% from 2021 to 2030, due to rise in disposable income, improvement in standard of living, and increase in spending on health of pets in China and India. Other regions discussed in the report include North America, Europe, and LAMEA.
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Leading Market Players:-
Mars, Incorporated
Nestlé Purina trademarks
TiernahrungDeuerer GmbH
WellPet LLC
Farmina Pet Foods
Diamond Pet Foods
Hill’s Pet Nutrition
Blue Buffalo Co., Ltd.
J.M. Smucker Company.
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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