Wet Pet Food Market Size to grow by USD 10.54 billion between 2024-2028
According to a research report “ Wet Pet Food Market” by Product (Cat food, Dog food, Others) Distribution Channel (Pet-specialty stores and vet clinics, Supermarkets and hypermarkets, Convenience stores, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 10.54 billion, at a CAGR of 6.66% during the forecast period. The benefits of pet ownership are well-documented and extensively researched. According to the Centers for Disease Control and Prevention (CDC), pets, particularly dogs, have been shown to have a positive impact on cardiovascular health. Hypersensitive patients with high blood pressure (BP) have reported lower BP levels when in the company of their pets. Furthermore, pet ownership has been linked to stronger immune systems in children and milder responses to stress in adults, resulting in quicker recovery times. Dogs exhibit an extraordinary ability to understand human behavior and emotions, interpreting tone of voice, gestures, and body language. These companionship benefits contribute significantly to improved mental and physical well-being.
Browse market data tables, figures, and in-depth TOC on “Wet Pet Food Market” by Product (Cat food, Dog food, Others) Distribution Channel (Pet-specialty stores and vet clinics, Supermarkets and hypermarkets, Convenience stores, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Product, the Cat food segment is projected to dominate the market size in 2024
In the pet market, specialized retailers offer a comprehensive selection of wet pet food brands and prices, alongside related products such as treats, healthcare, dietary supplements, and pet accessories. These pet-specialty stores maintain significant market presence, with notable players like PetSmart and Petco Health and Wellness Company, Inc. in the US. PetSmart, with 1,669 locations as of March 2022, and Petco, with approximately 1,500 stores across the US, Mexico, and Puerto Rico as of 2021, are leading retail networks in North America.
By Distribution Channel, Pet-specialty stores and vet clinics segment is expected to hold the largest market size for the year 2024
The wet cat food market is projected to experience a steady growth trajectory over the forecast period. This is primarily due to the fact that cats do not naturally consume sufficient water, making wet food an essential source of hydration for them. Furthermore, older cats, who often lose their olfactory senses, prefer the rich smells and flavors typically found in wet foods. Wet cat food also caters to the nutritional needs of cats with dental issues, illnesses, or digestive problems that make it difficult for them to consume dry food effectively.
North America is forecasted to hold the largest market size by region in 2024
The wet pet food market in the Americas is experiencing significant growth due to the increasing trend of pet humanization. Consumers in North America are increasingly treating their pets as family members, leading to a heightened demand for premium, natural, grain-free, or raw wet pet food options. This demographic is well-informed and meticulously evaluates the quality and sourcing of ingredients in these products. Product recalls and concerns regarding pet food safety are promptly addressed through various communication channels, including blogs, social media, and other platforms. Regulatory bodies, such as the FDA, implement stringent regulations under the Food Safety Modernization Act (FSMA) to ensure the safety and quality of pet foods. Canadian pet owners are also actively engaged in their pets' health, leveraging the power of the Internet to educate themselves on the best dietary options for their furry companions.
The Wet Pet Food Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
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Market Research Overview
The wet pet food market is experiencing significant growth due to various factors including the rise of veganism, changing consumer preferences, and increasing pet ownership rates. Vegan pet owners are driving demand for plant-based options, while non-vegan pet owners seek out high-quality, natural wet pet food for their cats and dogs. Shelf life is a crucial consideration in the pet food industry, with many pet owners looking for products that do not compromise on nutrition or taste. Arthritis and dental problems are common health issues for older pets, leading to increased demand for wet pet food containing glucosamine and other essential nutrients. Millennials are leading the charge in pet humanization, with many viewing their pets as family members and prioritizing their health and wellbeing. Whole grains, vitamins, minerals, and protein sources are essential components of a balanced wet pet food diet. Salmon, chicken, lamb, beef, and other natural ingredients are popular protein sources for cats and dogs. Pet food startups are disrupting the market with eco-friendly practices, digital avenues, and premium offerings. Environmental concerns and sustainability are becoming increasingly important to consumers, with many seeking out brands that prioritize reducing single-use plastics and carbon footprints. Consumer preferences for wet pet food are influenced by factors such as price sensitivity, gastrointestinal health, nutrient absorption, and taste and aroma. Pet adoption rates are on the rise, leading to a growing demand for wet pet food for birds, cats, and dogs. Pet specialty stores and online platforms are key distribution channels for wet pet food, offering convenience and customer satisfaction. The animal feed industry is responding to these trends by innovating and adapting to meet the evolving needs of pet owners. Veterinarians and diet suppliers are also playing a crucial role in educating pet owners about the importance of proper nutrition and the benefits of wet pet food. In conclusion, the wet pet food market is a dynamic and growing industry, driven by changing consumer preferences, environmental concerns, and the increasing humanization of pets. With a focus on natural ingredients, sustainability, and eco-friendly practices, pet food companies are meeting the demands of pet owners for high-quality, nutritious, and delicious wet pet food options.
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Email: media@technavio.com
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