Dublin, May 29, 2024 (GLOBE NEWSWIRE) — The “Wet Pet Food Market – Global Industry Size, Share, Trends, Opportunities and Forecast, 2019-2029” report has been added to ResearchAndMarkets.com’s offering.
The global wet pet food market is expected to be valued at USD 25.58 billion in 2023, and is expected to grow steadily at a CAGR of 4.62% during the forecast period till 2029.
Pets are increasingly considered part of the family, with owners prioritizing their pets’ health and well-being. This trend is driving demand for premium, high-quality pet food products, including wet pet foods that are nutritious and taste like homemade meals. There is growing awareness of the importance of nutrition in promoting the overall health and longevity of pets.
Pet owners are looking for pet food products that offer natural ingredients, balanced nutrition, and functional benefits such as improved digestion, joint health, and skin and fur condition. Wet pet food manufacturers are meeting this demand by offering products tailored to pets’ specific health needs and life stages. As disposable income increases and consumers become more discerning about the quality of the products they purchase for their pets, premium and specialty pet food options are expanding. Many pet owners are willing to invest in more expensive wet pet food products that offer superior ingredients, nutritional profile, and palatability for their pets.
E-commerce and online retail
E-commerce platforms and online retailers offer pet owners the convenience of purchasing wet pet food from home at any time of the day or night. A wide range of products available allows pet owners to compare prices, read reviews, and make purchases with ease. Online retailers typically offer a wider range of wet pet food brands, flavors, formulations, and package sizes than traditional pet stores. This variety includes specialty diets, premium options, and niche brands that are not commonly found locally.
Many e-commerce platforms and online retailers offer subscription-based services for wet pet food, allowing pet owners to set up recurring orders to suit their pet’s dietary needs and consumption patterns. Subscription services ensure consistent availability of pet food, bringing convenience, cost savings and peace of mind to pet owners.
Competitive prices, discounts, promotions and bulk buying options available online are attractive to budget-conscious pet owners looking for value for money. Plus, access to product reviews, ratings and recommendations from other pet owners, veterinarians and pet nutritionists not only helps inform your purchasing decisions but also ensures your pets are getting proper, quality nutrition.
Product Insights
The dog food segment is expected to witness rapid growth in the wet pet food market during the forecast period. The number of pet owners worldwide is steadily increasing, especially in urban areas and among the younger demographic. As more and more households are adding dogs to their families, the demand for dog food, including wet pet food, is growing significantly.
Dogs are increasingly considered part of the family, with owners prioritizing their dog’s health and well-being. This trend is driving demand for high-quality, premium dog food products, including wet food formulations that are nutritious and taste like homemade meals. Similar to human food consumption trends, there is growing awareness that nutrition is important to a dog’s overall health and longevity. Pet owners are seeking dog food products with natural ingredients, balanced nutrition, and functional benefits such as improved digestion, joint health, and skin/coat condition, driving the demand for wet pet food formulations that meet these criteria.
Regional Insights
North America has emerged as a major region in the global wet pet food market in 2023. North America has emerged as a major player in the global wet pet food market due to several factors: North America has a large and well-established pet ownership culture, with a significant percentage of households owning pets.
This high rate of pet ownership translates into a huge demand for pet food products, including wet pet food. North American consumers tend to prioritize the health and well-being of their pets, which has led to an increased demand for premium, high-quality pet food options, such as wet pet food. The affluent population in the region are willing to spend more on their pets, driving the market for premium pet food products.
Key attributes:
Report AttributesDetailsNumber of Pages182Forecast Period2024 – 2029Estimated Market Value in 2024 (USD)$25.58 billionForecasted Market Value through 2029 (USD)$33.62 billionCAGR4.6%Target RegionGlobal
Competitive Environment
Company Profiles: Detailed analysis of key companies present in the global Wet Pet Food market.
Beaphar Beheer BVChampion PetfoodsColgate Palmolive Co.De Haan PetfoodFirstMate Pet FoodsHarringtons Pet FoodMars Inc.Nestle S.A.Phelps Pet ProductsSchell and Kampeter Inc.
Report Scope:
Wet Pet Food Market, By Product:
Wet Pet Food Market, By Distribution Channel:
Pet specialty stores, animal hospitals, supermarkets, large supermarkets, convenience stores, etc.
Wet Pet Food Market, By Region:
North AmericaUnited StatesCanadaMexicoEuropeGermanyUnited KingdomFranceItalySpainAsia PacificChinaJapanIndiaAustraliaKoreaSouth AmericaBrazilArgentinaColombiaMiddle East & AfricaSouth AfricaSaudi ArabiaUAE
For more information on this report, please visit: https://www.researchandmarkets.com/r/z0gw7x
About ResearchAndMarkets.com
ResearchAndMarkets.com is a leading global source of international market research reports and market data providing the latest information on international markets, regional markets, key industries, top companies, new products and latest trends.
Global wet pet food market
