Global Wet Pet Food Market Size To Worth USD 36.5 Billion by 2032 | CAGR of 4.1%
The Global Wet Pet Food Market Size was valued at USD 24.4 Billion in 2022 and the Worldwide Wet Pet Food Market Size is expected to reach USD 36.5 Billion by 2032, according to a research report published by Spherical Insights & Consulting. Companies Covered: Nestlé, Mars, Incorporated , Colgate-Palmolive Company , Unicharm Corporation, Thai Union Group PCL, Charoen Pokphand Foods PCL , General Mills Inc., The J.M. Smucker Company , Better Choice Company, Real Pet Food Co, MONGE SPA P.IVA , Schell & Kampeter, Inc., Inaba-Petfood Co., Ltd., Sunshine Mills, Inc., And other key venders
New York, United States , Dec. 04, 2023 (GLOBE NEWSWIRE) -- The Global Wet Pet Food Market Size is to Grow from USD 24.4 Billion in 2022 to USD 36.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.1% during the projected period.
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The global wet pet food market is a growing industry dedicated to the manufacture and sale of moist, canned, or pouched food products designed specifically for pets, primarily dogs and cats. Wet pet food, also known as canned pet food, is distinguished by its high moisture content, which typically ranges between 70% and 85%, making it an important source of hydration as well as nutrition for pets. This sector of the pet food industry offers a wide range of products, including flavors, formulations, and dietary options designed to meet the nutritional needs of pets. The wet pet food industry has expanded significantly as pet owners seek simple and nutritionally balanced solutions for their dogs and cats. In keeping with the trend of prioritizing pet health and mimicking natural diets, this section offers a variety of products with higher protein content and fewer carbs. Wet pet food manufacturers are constantly innovating to provide a diverse range of flavors, formulations, and specialty diets to cater to the diverse dietary needs and preferences of pets. These advancements attract pet owners looking for customized nutrition options. Because of their higher moisture content and premium ingredients, wet pet food is frequently more expensive than dry kibble. Price sensitivity among consumers may limit the adoption of wet pet food, particularly in regions where pet owners are on a tight budget.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on* "**Global Wet Pet Food Market** Size, Share, and COVID-19 Impact Analysis, By Pet (Dogs and Cats), By Source (Animal-Based, Plant Derivatives, and Synthetic), By Distribution Channel (Pet Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, and Online), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."*
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*The dogs segment accounted for a significant share of the global wet pet food market in 2022. *
The global wet pet food market is divided into two segments: dogs and cats. In 2022, the dogs segment accounted for a sizable share of the global wet pet food market. Pet humanization, a focus on pet health, and the desire to provide high-quality and palatable dog food have all contributed to the growth of this segment. Dogs are among the most popular pets worldwide, with a large population in many different regions.
*The animal-based segment is expected to grow at the fastest pace in the global wet pet food market during the forecast period. *
The global wet pet food market is classified as animal-based, plant derivatives, and synthetic, according to the source. The animal-based segment, among these, is projected to expand at the fastest rate in the global wet pet food market during the forecast period. The animal-based segment accounted for a sizable portion of the wet pet food market, owing to its appeal to pet owners and alignment with pets' natural dietary needs.
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*North America is anticipated to hold a significant share of the global wet pet food market over the predicted timeframe.*
North America is expected to account for a sizable portion of the global wet pet food market in the coming years. Because of high pet ownership rates and consumer willingness to invest in premium pet food products, North America held the largest share of the global wet pet food market. North America has traditionally been one of the largest markets for wet pet food, particularly in the United States and Canada. The area has a high rate of pet ownership and a thriving pet food industry.
During the forecast period, Asia Pacific is projected to expand at the fastest rate in the global wet pet food market. Because of rising pet populations and shifting consumer preferences, Asia-Pacific accounts for a growing portion of the global wet pet food market. The Asia-Pacific region's wet pet food market has grown rapidly. Pet ownership has increased in countries such as China, Japan, and Australia.
*Competitive Analysis:*
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Wet Pet Food Market include Nestlé, Mars, Incorporated, Colgate-Palmolive Company, Unicharm Corporation, Thai Union Group PCL, Charoen Pokphand Foods PCL, General Mills Inc., The J.M. Smucker Company, Better Choice Company, Real Pet Food Co, MONGE SPA P.IVA, Schell & Kampeter, Inc., Inaba-Petfood Co., Ltd., Sunshine Mills, Inc., and Others.
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*Recent Market Developments*
*In June 2023, Mars Petcare Australia, *a division of Mars, Inc., has decided to invest approximately USD 77 million in expanding cat food production in Wodonga, Australia. The project includes a 7,800-square-meter facility dedicated to wet cat food production, with two production lines capable of producing 25,000 tons per year. With the support of the Victorian government, this move aims to meet current and future consumer demand, strengthen local operations, introduce new product lines, and solidify Mars Petcare's leading position in the pet food industry.
*Market Segment*
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Wet Pet Food Market based on the below-mentioned segments:
*Global Wet Pet Food Market, By* *Pet*
· Dogs
· Cats
*Global Wet Pet Food Market, By Source*
· Animal-Based
· Plant Derivatives
· Synthetic
*Global Wet Pet Food Market, By Distribution Channel*
· Pet Specialty Stores
· Supermarkets/Hypermarkets
· Convenience Stores
· Online
*Global Wet Pet Food Market, Regional Analysis*
· *North America*
· US
· Canada
· Mexico
· *Europe*
· Germany
· Uk
· France
· Italy
· Spain
· Russia
· Rest of Europe
· *Asia Pacific*
· China
· Japan
· India
· South Korea
· Australia
· Rest of Asia Pacific
· *South America*
· Brazil
· Argentina
· Rest of South America
· *Middle East & Africa*
· UAE
· Saudi Arabia
· Qatar
· South Africa
· Rest of Middle East & Africa
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