Opportunities That Shape The future of Wet Cat Food Market | Analysis by Top Player, Size ($7.9 Bn) Growth Rate (5.7%)

Wet Cat Food Market

Wet Cat Food Market

PORTLAND, OREGON, UNITED STATES, February 11, 2023 /EINPresswire.com/ -- According to a new report published by Allied Market Research, 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.

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The growth of the global wet cat food market demand is majorly driven by increase in preference of cat owners to feed wet cat food to their cats. This is attributed to the fact that wet cat food provides better nutrition to cats with ill health, as they lose their appetite. The rising trend of spending more on pet food by the pet owners is likely to shape the market in the future.

The global wet cat food market is expected to offer remunerative business opportunities in the developing economies such as India and China. This is attributed to increase in adoption of pets, including cats, and rise in awareness regarding pet health and their health issues.

The wet cat food market presents several opportunities for companies and stakeholders, including:

Growing Demand for High-Quality Products:
As pet owners become more interested in providing their cats with high-quality and nutritious food options, there is a growing opportunity for companies to offer premium and gourmet wet cat food products.

Expansion into Emerging Markets:
Emerging markets, such as Asia and Latin America, present significant growth opportunities for the wet cat food market, as pet ownership and the demand for pet food products are increasing in these regions.

Focus on Sustainability and Eco-Friendliness:
There is a growing demand for pet food products that are made with sustainable and eco-friendly ingredients, and this presents an opportunity for companies to differentiate themselves in the wet cat food market by offering these types of products.

Development of New Formats and Ingredients:
The wet cat food market presents an opportunity for companies to innovate and develop new formats, such as dehydrated or freeze-dried wet cat food, and unique ingredient combinations to meet the evolving needs and preferences of pet owners.

Use of Technology:
The use of technology, such as data analytics and predictive modeling, is expected to increase in the pet food industry, including the wet cat food market, and presents an opportunity for companies to use this technology to better understand consumer preferences and market trends.

Overall, the wet cat food market presents several growth opportunities for companies, including the growing demand for high-quality products, expansion into emerging markets, focus on sustainability and eco-friendliness, development of new formats and ingredients, and the use of technology.

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Primary Factors Influencing Growth

The global market for wet cat food is expanding as more cat owners choose to feed their cats this type of food. Wet cat food is more expensive and has a shorter shelf life than dry cat food, which limits market expansion. However, the availability of cat snacks, which are also offered in moist form, opens up new possibilities in the years to come.

The global wet cat food market is expected to offer remunerative business opportunities in the developing economies such as India and China. This is attributed to increase in adoption of pets, including cats, and rise in awareness regarding pet health and their health issues.

Key players operating in the wet cat food market have adopted key developmental strategies such as product launch to fuel demand for wet cat foods in the market. In addition, they have emphasized on continuous innovations in their products to maintain a strong foothold in the market and to boost wet cat food demand globally.

The conventional segment will continue to lead during the predicted period.

According to nature, the conventional segment accounted for 94 percent of the global wet cat food market in 2020 and is anticipated to keep up its dominance for the duration of the forecast period. This is largely related to increased knowledge of health problems in companion animals, including physical and mental diseases. Additionally, the organic segment is anticipated to have the greatest CAGR of 7.4% between 2021 and 2030. This is because people are becoming more aware of the advantages of organic wet cat food.

The mass segment to maintain its lead position during the forecast period

Based on price point, the masssegment accounted for the largest share in 2020, contributing to nearly three-fifths of the global wet cat food market, and is projected to maintain its lead position during the forecast period. This is due to their affordability and easy availability in small or local pet stores. Moreover, the premium segment is expected to portray the largest CAGR of 6.1% from 2021 to 2030, owing to operating players in the industry who are now venturing into premium segment to cater on a new consumer class.

Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global wet cat food market. Moreover, this region is expected to witness the fastest CAGR of 7.1% from 2021 to 2030, due to rise in disposable income, improvement in standard of living, and increase in spending on health of pets in China and India. Other regions discussed in the report include North America, Europe, and LAMEA.

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Leading Market Players:-

Mars, Incorporated
Nestlé Purina trademarks
TiernahrungDeuerer GmbH
WellPet LLC
Farmina Pet Foods
Diamond Pet Foods
Hill’s Pet Nutrition
Blue Buffalo Co., Ltd.
J.M. Smucker Company.

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David Correa
Allied Analytics LLP
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