Wet Pet Food Market size to grow by USD 9.73 billion from 2022 to 2027- Technavio
NEW YORK, Nov. 8, 2023 /PRNewswire/ -- The wet pet food market size is expected to grow by USD 9.73 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 6.61% during the forecast period. An increase in pet ownership is notably driving the wet pet food market. However, factors such as increasing product recalls may impede market growth. The market is segmented by product (cat food, dog food, and others), distribution channel (pet-specialty stores and vet clinics, supermarkets and hypermarkets, convenience stores, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format
Key Segment Analysis
The market share growth by the cat food segment is significant during the forecast period. Wet cat foods mainly cater to older cats as they are easier to chew. In addition, it provides proper nutrition for cats. Several market players are launching new products in order to expand their market share. For example, in June 2021, Mars Inc. announced the launch of wet cat food under its brand Whiskas to expand its cat food range in India. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
To know additional highlights and key points on various market segments and their impact in coming years, View PDF Sample Report.
Geographical Market Analysis
North America is estimated to account for 49% of the global market during the forecast period. There is an increasing preference for wet pet food products with high quality among consumers in North America. In addition, several authorities including FDA regulates the safety and quality of pet foods under the FSMA to ensure quality control and supply chain management. Furthermore, there is an increasing demand for premium pet products due to concerns about pet allergies and better nutrition. Moreover, the growing number of ownerships of pets is fuelling the growth of this segment which in turn will drive the market growth in North America during the forecast period.
Company Insights
The wet pet food market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including: C and D Foods Ltd., Champion Petfoods LP, Darling Ingredients Inc., De Haan Petfood, Evangers Dog and Cat Food Co. Inc., FirstMate Pet Foods, Freshpet Inc., Harringtons Pet Food, Hills Pet Nutrition Inc., Mars Inc., Nestle SA, Phelps Pet Products, Schell and Kampeter Inc., Simmons Foods Inc., Spectrum Brands Holdings Inc., The J.M Smucker Co., Tiernahrung Deuerer GmbH, Wellness Pet Co. Inc., Beaphar Beheer BV, and Blue Buffalo Co. Ltd.
- View PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution Channel
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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