Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "Wet Pet Food Market - Global Industry Size, Share, Trends, Opportunity & Forecast, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
Global Wet Pet Food Market was valued at USD 25.58 billion in 2023 and will see an steady growth in the forecast period at a CAGR of 4.62% through 2029
Pets are increasingly considered members of the family, leading pet owners to prioritize their health and well-being. This trend has fueled demand for premium and high-quality pet food products, including wet pet food formulations that offer nutritional benefits and taste appeal like homemade meals. There is a growing awareness of the importance of nutrition in promoting pets' overall health and longevity.
Pet owners are seeking pet food products with natural ingredients, balanced nutrition, and functional benefits such as improved digestion, joint health, and skin/coat condition. Wet pet food manufacturers are responding to this demand by offering products tailored to specific health needs and life stages of pets. As disposable incomes rise and consumers become more discerning about the quality of products they purchase for their pets, there is a shift towards premium and specialty pet food options. Many pet owners are willing to invest in higher-priced wet pet food products that offer superior ingredients, nutritional profiles, and palatability for their pets.
E-commerce and Online Retail
E-commerce platforms and online retail stores offer pet owners the convenience of purchasing wet pet food from their homes, anytime, day or night. They provide a wide selection of products, allowing pet owners to compare prices, read reviews, and make purchases with ease. Online retailers typically offer a broader range of wet pet food brands, flavors, formulations, and packaging sizes compared to traditional pet stores. This variety includes specialized diets, premium options, and niche brands not commonly found locally.
Many e-commerce platforms and online retailers offer subscription-based services for wet pet food, enabling pet owners to set up recurring orders tailored to their pets' dietary needs and consumption patterns. Subscription services ensure consistent access to pet food, providing convenience, cost savings, and peace of mind for pet owners.
Competitive pricing, discounts, promotions, and bulk purchasing options available online appeal to budget-conscious pet owners seeking value for money. Additionally, access to product reviews, ratings, and recommendations from other pet owners, veterinarians, and pet nutritionists helps inform purchasing decisions, ensuring pets receive suitable and high-quality nutrition.
Product Insights
The Dog food segment is projected to experience rapid growth in the Wet Pet Food Market during the forecast period. There has been a steady rise in pet ownership worldwide, particularly in urban areas and among younger demographics. With more households welcoming dogs into their families, the demand for dog food, including wet pet food, is experiencing significant growth.
Dogs are increasingly viewed as members of the family, leading pet owners to prioritize their health and well-being. This trend has fueled demand for high-quality and premium dog food products, including wet food formulations that offer nutritional benefits and taste appeal like homemade meals. Like trends in human food consumption, there is a growing awareness of the importance of nutrition for dogs' 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 emerged as the dominant region in the Global Wet Pet Food Market in 2023. North America has emerged as the dominant player in the Global Wet Pet Food Market due to several factors. North America has a large and established pet ownership culture, with a significant portion of households owning pets.
This high pet ownership rate translates into a substantial demand for pet food products, including wet pet food. North American consumers tend to prioritize the health and well-being of their pets, leading to a growing demand for premium and high-quality pet food options such as wet pet food. The region's affluent population is willing to spend more on their pets, driving the market for premium pet food products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 182 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $25.58 Billion |
| Forecasted Market Value (USD) by 2029 | $33.62 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Wet Pet Food Market.
- Beaphar Beheer BV
- Champion Petfoods
- Colgate Palmolive Co.
- De Haan Petfood
- FirstMate Pet Foods
- Harringtons Pet Food
- Mars Inc.
- Nestle S.A
- Phelps Pet Products
- Schell and Kampeter Inc.
Report Scope:
Wet Pet Food Market, By Product:
- Cat food
- Dog food
- Others
Wet Pet Food Market, By Distribution Channel:
- Pet-specialty stores and vet clinics
- Supermarkets and hypermarkets
- Convenience stores
- Others
Wet Pet Food Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/z0gw7x
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