Wet pet food market accounted for US$ 22,218.1 Mn in 2018 and is expected to grow at a CAGR of 5.7% during the forecast period 2019 - 2027, to account for US$ 36,406.5 Mn by 2027.
Wet pet foods are pet foods which contain high proportion of water in the range of 75–85%. It is often rich in proteins and fats and provides energy and vital nutrients required for metabolism. In 2018 the North America region accounted for the largest share in the global wet pet food market. The companies are continuously enhancing the overall business processes to meet the customers’ demand in the best possible way. Several domestic and international companies have a strong foothold in the North American region. In the North America region, the US is a significant market for wet pet food.
The production and use of wet pet food has substantially increased over the years with the rise in adoption rates of pets, increase in disposable income, and growing the awareness about the health benefits of wet pet foods among consumers. To meet the rising demand, the countries in this region have also escalated the import of pet foods from other regions. The rise in consumer spending has been instrumental in the increase in demand for wet pet foods. Major market players present in the North American wet pet food market, includes Blue Buffalo Co., Ltd., Mars, Incorporated, and Petguard Holdings, LLC, among others.
- Blue Buffalo Co., Ltd.
- De Haan Petfood
- FirstMate Pet Foods
- Little BigPaw
- Mars, Incorporated
- Monge SPA
- Petguard Holdings, Llc
- Hill's Pet Nutrition, Inc
- Nestlé Purina PetCare
- Butcher's Pet Care
The wet pet food market, by packaging type, is further segmented into cans, pouches, and others. Cans segment have led the wet pet food market whereas pouches segment is expected to grow at the highest growth rate during the forecasted period. The growing demand for superior and advanced food packaging by pet owners coupled with continuous innovations in packaging material is expected to drive the growth of pouches segment. Features such as zippered closure mechanisms and light-weight, as well as availability of pouches in various sizes offer convenience to customers.
Wet pet food is easily available at different retail channels such as supermarkets and hypermarkets, specialized pet shops, online stores, and others. Among these, online stores for wet pet food is gaining popularity in emerging countries such as India and China. Increased use of mobile phones, computers, and laptops has helped in the growth of digital channels, both in strength and volume. Pet owners in India and China are adopting the idea of online shopping as it saves time, money, and efforts over other distribution channels.