Wet Cat Food Market Expected to Reach $7.9 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, “Wet Cat Food Market by Product Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global 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.

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.

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.

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).

Key findings of the study

• By nature, the 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.
• Depending on price point, the mass segment garnered the highest market share in 2020, and is estimated to register a CAGR of 5.5%.
• On the basis of distribution channel, specialty store was the prominent segment, in terms of market share, in 2020, and is anticipated to grow at a CAGR of 5.4%.
• Region wise, 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.

Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. In the recent past, many leading players opted for product launch as a business strategy to strengthen their foothold in the market. To understand the wet cat food market trends, strategies of leading players are analyzed in the report. Some of the key players operating in the wet cat food market analysis include heristo aktiengesellschaft, Mars, Incorporated, Nestlé Purina trademarks, Tiernahrung Deuerer GmbH, WellPet LLC, Farmina Pet Foods, Diamond Pet Foods, Hill’s Pet Nutrition, Blue Buffalo Co., Ltd., and the J.M. Smucker Company.