by Market Overview:
Cat wet food products are specially designed canned or pouched wet meals for cats that provide complete and balanced nutrition in a moisture-rich format. The market offers a variety of cat wet foods with different protein sources including chicken, fish, beef, lamb, and more. Wet cat food contains around 78% moisture content which helps promote hydration and supports urinary tract health in cats. It is easy to digest and cats enjoy its taste and texture. The wet texture stimulates their natural feeding behaviors like biting, tearing, and licking. Wet foods also aid in oral health by reducing tartar and plaque build up.
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 trends in the cat wet food market is the rising popularity of grain-free and single-source protein options. Many cats have sensitivities to common grains like corn, wheat, and soy. Therefore, grain-free wet foods crafted with a single high-quality protein are gaining demand. Another notable trend is customized and premium wet cat foods tailored for specific life stages, sizes, health needs, and lifestyles. For instance, wet foods for weight management, joint health, oral care, aging cats and more. Furthermore, innovations in packaging including resealable pouches and cube-shaped containers for portion control are supporting the growing demand in this market.
Porter’s Analysis
Threat of new entrants: The cat wet food market has moderate threat of entry as it requires high capital to build manufacturing facilities and distribution channels.
Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands in the market.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as raw materials like chicken, seafood etc. are commoditized.
Threat of new substitutes: Threat from substitutes is low as cat owners prefer cat wet food over dry food for its nutrition.
Competitive rivalry: The global cat wet food market is competitive with presence of several global and regional brands.
Key Takeaways
The Global Cat Wet Food Market Size is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period 2023 to 2030, due to increasing pet humanization and popularity of wet food format. The market size for cat wet food in 2023 is estimated at US$ 44.74 Bn.
Regional analysis: North America dominates the global cat wet food market due to high pet ownership and availability of wide variety of products in the US and Canada. Europe is the second largest market driven by growth in countries like UK, Germany and France. Asia Pacific is expected to be the fastest growing market led by increase in pet adoption in China, India and Southeast Asian countries.
Key players: Nestle Purina Petcare is one of the leaders in the global cat wet food market with flagship brands like Fancy Feast and Purina ONE. Other major players are 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. Key players are focusing on product innovation and expansion in emerging regions for sustained growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
