Market Overview:
Cat wet food provides convenience and complete balance of nutrition to cats compared to dry food. It helps meet the moisture requirement of cats and maintains dental and urinary health of cats.
The global Cat Wet Food Market is estimated to be valued at US$ 44.74 Bn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trend in the cat wet food market is the rise in premium and organic cat wet food products. Many cat owners prefer organic and natural ingredients in cat food to avoid harmful chemicals. Hence, manufacturers are focusing on developing organic, natural and grain-free cat wet food products made from chicken, fish or lamb to cater to changing consumer preferences. Furthermore, the launch of single-serve packaging and pouches for cat wet food have gained popularity as it provides convenience in mealtimes and portion control for cats.
SWOT Analysis
Strength: Cat owners are increasingly feeding their cats premium wet food due to nutritional benefits. Premium wet food contains high-quality natural ingredients that help support feline health.
Weakness: Premium wet cat food can be significantly more expensive than dry food, which may limit growth potential. Additional costs associated with cans, pouches or tetrapacks may also impact market expansion.
Opportunity: Rising pet humanization trend is encouraging owners to treat their cats like family members, increasing spending on premium foods. Product innovation in form factors beyond cans also presents opportunities.
Threats: Pet owners may switch to private label or economy brands during economic downturns to save costs. Strict regulations around packaging and ingredients also constrain new entrants.
Key Takeaways
The Global Cat Wet Food Market Size is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing pet humanization trend globally. Cats are increasingly perceived as companions rather than pets alone, boosting demand for high-quality foods.
North America currently dominates the cat wet food market, supported by high cat ownership and willingness of owners to spend on premium nutrition. Growth rates are expected to be higher in Asia Pacific however, led by China, India and other emerging countries where increasing incomes are driving pet ownership.
Key players operating in the cat wet food market are Nestle Purina Petcare, Tiernahrung Deuerer GmbH, .THE J. M. SMUCKER COMPANY, MARS, INCORPORATED, Heristo AG, Hill’s Pet Nutrition, Farmina Pet Foods, Wellpet LLC, Diamond Pet Foods, Blue Buffalo Co., Ltd. These companies enjoy strong brand recognition and are able to leverage extensive distribution networks globally. Private label brands also have a growing presence, offering more affordable options. Rapid e-commerce penetration is further expanding access to pet foods.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
