Wet Cat Food Market Size to Surpass $7.9 Billion by 2030

The global 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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Wet cat food contains about 10.0% water and 90% of other dry ingredients. It is a rich source of proteins and fats, which improve its taste. Meat and animal derivatives are some of the common wet cat foods used worldwide. Wet cat food is fed to cats that do not consume water. The high protein and fat content of wet cat food improves stamina of cats for faster metabolism, muscles building, hair growth, and healthy skin.

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. However, higher cost of wet cat food as compared to dry cat food is expected to hamper the growth of the wet cat food market. Moreover, the shelf life of wet cat food is lower than that of dry cat food, and requires refrigeration when the can is opened, which limits the market growth. Conversely, availability of cat treats, which is also available in wet form, is expected to offer lucrative opportunity for the market growth during the future.

he 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.

Internet sales have been presenting continuous growth over the years. The availability of info-centric health products, such as natural, organic, and nutritional foods, as per consumers' demand has gained immense popularity, owing to rapid increase in pet humanization. Asia-Pacific is one of the lucrative markets for wet cat food.

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Key findings of the study

By nature, the conventional segment accounted for the highest wet cat food market share in 2020, and is expected to grow at a CAGR of 5.6% from 2020 to 2030.

Depending on price point, the mass segment garnered the highest market share in 2020, and is estimated to register a CAGR of 5.5%.

On the basis of distribution channel, specialty store was the prominent segment, in terms of market share, in 2020, and is anticipated to grow at a CAGR of 5.4%.

Region wise, Asia-Pacific occupied the maximum share in the wet cat food market in 2020, and is expected to dominate during the wet cat food forecast period.

Companies can operate their business in highly competitive market by launching new products or updated versions of existing products. In the recent past, many leading players opted for product launch as a business strategy to strengthen their foothold in the market. To understand the wet cat food market trends, strategies of leading players are analyzed in the report. Some of the key players operating in the wet cat food market analysis include heristo aktiengesellschaft, Mars, Incorporated, Nestlé Purina trademarks, Tiernahrung Deuerer GmbH, WellPet LLC, Farmina Pet Foods, Diamond Pet Foods, Hill's Pet Nutrition, Blue Buffalo Co., Ltd., and the J.M. Smucker Company.

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