Wet Cat Food Market Forecast and CAGR
According to latest research by Fact.MR, wet cat food sales is set to witness steady growth during 2021-2031. Demand for wet food will witness steady recovery in short-term, with optimistic growth outlook in the long-run.
Increasing pet adoption in high income countries and awareness on myriad benefits of wet food has become one the prime reason for sales growth. Growing sales of the product to create lucrative opportunities for the key players and will continue to do so in the coming years as well.
What is Driving Demand in Wet Cat Food Market?
The global pet cat population has been increasing, owing to the increased adoption of pets due to ongoing pet trends and increasing disposable income in various regions. Providing high nutritious food to pet cat has become one of the primary goals for pet owners. Such a concern is what makes them try on various types of food for their pet cat may it from dry food to chewable and wet food.
People active in various cat welfare communities online are been actively conducting awareness campaigns on the importance of nutrition in cat food, especially wet food. Following which many of the pet cat owners globally are shifting to wet food owing to its myriad benefits over other food types. Such a switch is set to affect the wet cat food sales positively.
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Multitude Benefits of Wet Cat Food to Support Market Growth
There are a lot many varieties of cat food available in the market out of which the most commonly used ones are dry and wet foods. Dry food capture majority of the demand share in cat food business owing to a myth that dry food has more nutrition and vitamins than wet ones, which was being followed from 1900’s.
In the current era, the trend has been changing to wet food owing to increasing awareness of the pet owners from veterinary doctors and internet. The below-mentioned points highlight the significance and benefits of wet food.
Wet cat food has various benefits over other cat food type. Wet food has more variety as compared to the dry one. They also have high moisture content, which helps the pet to stay hydrated which in turn eliminates urinary infection in them. For overweight cats, wet food is highly beneficial as it has high protein content and fewer carbs. Also, wet food is easy to chew and quite appealing for the cats to accept easily. Aforementioned pointers leads to a conclusion that majority of the pet cat owners are swiftly shifting to wet food to cater to their pet’s food requirement.
US Wet Cat Food Market Outlook
The United States hold a significant amount of share in the global wet cat food sales. This is due to the fact that the US have many pet owners owing to the higher adoption of pets. Per capita expenditure on pet cats in this country is quite high compared to others.
This is supported by the fact that the US lies in high-income country categories and thus have high disposable income, which is making them possible for increased expenditure on their pet cats may it from regular vet checkups to a variety of food.
The above paragraph proves the fact that the increasing expenditure of cat owners to try on wet food for providing better nutritional food to their cats. Thus, creating a demand for wet food as a whole. Key players in this region are extensively involved in introducing a variety of wet food variety to increase their customer base in this country and are spending a substantial amount on marketing their products for the same.
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Asia Demand Outlook for Wet Cat Food Market
Asia accounts for a sizable portion of the global cat food demand owing to the number of pet owners in this region is higher compared to others globally. Countries such as China, Indonesia, Malaysia, Thailand and other ASEAN countries are responsible for such a growing population of cats in this region.
Also, in this region, the amount of lower-middle-income countries is quite high, which reflects that a small number of people has higher disposable income and so the pet care spending in such a country is quite moderate. Therefore leading to nominal growth of the wet cat food sales.
The growing cat population in this region is one of the major reason for the surge in cat food demand by pet owners. Also, the need for food variety for cats is driving the sales. All these points combined shows wet cat food is quite lucrative business and is about to pose a higher CAGR rate in the coming years.
Who are the Key Manufacturers and Suppliers of Wet Cat Food?
Competition in wet cat food is perfect and fragmented in nature with presence of a many players across the globe. Some of the leading suppliers of wet cat food are
- De Haan Petfood
- FirstMate Pet Foods
- Blue Buffalo Co., Ltd.
- Monge SPA
- Petguard Holdings, Llc
- Nestlé Purina PetCare
- Hill's Pet Nutrition, Inc
- Little BigPaw
- Butcher's Pet Care
- Amì pet food
- Benevo other prominent players.
Key players are practicing various organic and inorganic strategies to gain sales position and attract various regional customers. Also, players such as Blue Buffalo have been marketing their product as organic homemade food for cats. Similarly other players in the market, selling their product as high protein based vegan/meat food, which is one of the prime reason for added customers to the wet cat food business.
Despite pandemic, the sales of cat food haven’t been much affected, as it is considered as one of the essential entity. Though the supply chain was disrupted owing to production and shipping stoppages, online sales have experienced a boom for purchase of cat food during the pandemic. This had a positive impact on sales volume of the manufacturers selling their product online and will continue to be in the future as more customers been shifting to online purchase mode.
An Adaptive Approach to Modern-day Research Needs
Wet Cat Food Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
- Meat Based
By Distribution Channel
- Online Retailing
- Modern Trade
- Pet Food Stores
- Veterinary Clinics
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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