Report : Wet Pet Food Market to 2027 - Global Analysis and Forecasts By Product (Dog Food, Cat Food, Others); Packaging Type (Canned, Pouches, Others); Distribution Channel (Supermarkets and Hypermarkets, Specialized Pet Shops, Online, Others)
The "Global Wet Pet Food Market to 2027 - Global Analysis and Forecasts by Product (Dog Food, Cat Food, Others); Packaging Type (Canned, Pouches, Others); Distribution Channel (Supermarkets and Hypermarkets, Specialized Pet Shops, Online, Others), and Geography", The scope of study involves understanding on the factors responsible for this growth of wet pet food market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant wet pet food players in the market and their key developments.
The global wet pet food market is accounted to US$ 22,218.1 Mn in 2018 and is expected to grow at a CAGR of 5.7% during the forecast period 2019 - 2027, to account to US$ 36,406.5 Mn by 2027. The North American region accounted for the maximum share in the global wet pet food market. While Asia-Pacific is projected to grow at a CAGR of 5.8% during the forecast period. Asia-Pacific is among the lucrative regional market for wet pet food offering number of opportunities to market players. Pet keepers in Asia Pacific spend a quality amount to keep and maintain the health of their pets. For instance, in China, the per capita expenditure on pet food is US$9, whereas Australia has the highest per capita expenditure of US$66. Factors which are driving the growth in pet food is trend towards premiumization. Further, consumers are looking forward for better products and premium offerings for their pets as pet the requirement of their pets. The demand for wet dog food is rising at twice rate more than the overall category which is often associated with health perception. Due to the ever-increasing disposable income of the middle-income group population, people are willing to pay higher prices for healthy food products for their pets. Moreover, rising concerns about healthy food due to the overweight as well as high prevalence of diseases amongst pet population has forced the manufacturer to adopt high quality products for their pets in this region. This encompasses an ample amount of opportunities for the growth of the wet pet food market in this region.
The wet pet food market based on packaging type has been segmented into canned, pouches and others. The canned segment accounted for the largest share in the global wet pet food market. However, the pouches segment is expected to grow at highest CAGR of 6.3% during the forecast period. After cans, the demand for pouches for pet food packaging is expected to surge in the coming years. Pouches also help maintain the quality of food and prevent spoilage. Also, features such as zippered closure mechanisms and light-weight, as well as availability in various sizes offer convenience to customers. The cost of pet food packed in pouches is comparatively lesser than that of canned pet food, thus attracting pet owners. For pet food manufacturers, retort pouches and laminates are the preferable choices of packaging as they incur lower cost to production and transportation. Growing demand for sustainable pet food packaging among pet owners has encouraged pet food packaging manufacturers to develop innovative and intelligent packaging for pet food.
The global wet pet food market by geography is segmented into five regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. The North America region is expected to account for the largest share of the global wet pet food market in 2018, followed by Europe and Asia Pacific. Some of the major players in the wet pet food market include Blue Buffalo Co., Ltd, Butcher's Pet Care, De Haan Petfood, FirstMate Pet Foods, Hill's Pet Nutrition, Inc., Little BigPaw, Mars, Incorporated, Monge SPA, Nestlé Purina PetCare and Petguard among others.
The report segments the global wet pet food market as follows:
Global Wet Pet Food Market - By Product
Global Wet Pet Food Market - By Packaging Type
Global Wet Pet Food Market - By Distribution Channel
Global Wet Pet Food Market - By Geography
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