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.
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.
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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.
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Wet cat food is a type of pet food specially prepared cats, which contains about 10.0% water and 90% 0f other dry ingredients such as chicken, tuna, and seafood. The wet cat food is easily available in the market through various distribution channels, including specialty store, supermarket, and online stores. This in turn has driven the wet cat food market growth in terms of value sales.
Pet ownership of cats is gaining popularity due to rise in need of smaller pets in households. Furthermore, increase has been witnessed in demand for wet cat food products as per different life stages of cats. Therefore, manufacturers are increasingly offering product variants from baby cats to adult cats.
However, organic wet cat foods are increasingly marketed, as consumers are switching to healthy and nutritious food to meet their cats’ therapeutic needs. With rise in health-consciousness among consumers, product manufacturers aim at offering wet cat food without adding artificial additives, false colors, and preservatives. Therefore, manufacturers, particularly small-scale producers, are finding success in the wet cat food market demand by focusing on premium and health categories.
The global wet cat food market segment is segmented into nature, price point, distribution channel, and region.
By nature, the market is classified into organic and conventional. On the basis of price point, it is divided into mass and premium. Depending on distribution channel, it is segregated into specialty store, supermarket/hypermarket, online store, and others. Region wise, the wet cat food market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Argentina, and rest of LAMEA).
The outbreak of coronavirus has negatively impacted the growth of the wet cat food industry along with all stages of supply chain and value chain. Presently, the supply chain is far more complex as compared to what it was a decade ago. The COVID-19 pandemic has not only hampered production facilities but also disrupted supply chains such as material suppliers and distributors of the wet cat food market globally, resulting in loss of business, in terms of value sales.
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The key market players profiled in the report include:
- Heristo aktiengesellschaft
- Nestlé Purina trademarks
- Tiernahrung Deuerer GmbH
- WellPet LLC
- Farmina Pet Foods
- Diamond Pet Foods
- Hill’s Pet Nutrition
- Blue Buffalo Co.Ltd.
- J.M. Smucker Company.
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