Global Wet Cat Food Market to Reach $7.9 Billion, by 2030 at 5.7% CAGR | Allied Market Research

PORTLAND, OREGON, UNITED STATES, March 14, 2022 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Wet Cat Food Market by Product Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” 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.

Wet cat food is a type of pet food specially prepared cats, which contains about 10.0% water and 90% 0f other dry ingredients such as chicken, tuna, and seafood. The wet cat food is easily available in the market through various distribution channels, including specialty store, supermarket, and online stores. This in turn has driven the wet cat food market growth in terms of value sales.

The outbreak of coronavirus has negatively impacted the growth of the wet cat food industry along with all stages of supply chain and value chain. Presently, the supply chain is far more complex as compared to what it was a decade ago. The COVID-19 pandemic has not only hampered production facilities but also disrupted supply chains such as material suppliers and distributors of the wet cat food market globally, resulting in loss of business, in terms of value sales.

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Pet ownership of cats is gaining popularity due to rise in need of smaller pets in households. Furthermore, increase has been witnessed in demand for wet cat food products as per different life stages of cats. Therefore, manufacturers are increasingly offering product variants from baby cats to adult cats. However, organic wet cat foods are increasingly marketed, as consumers are switching to healthy and nutritious food to meet their cats’ therapeutic needs. With rise in health-consciousness among consumers, product manufacturers aim at offering wet cat food without adding artificial additives, false colors, and preservatives. Therefore, manufacturers, particularly small-scale producers, are finding success in the wet cat food market demand by focusing on premium and health categories.

The conventional segment to maintain its leadership status throughout the forecast period

Based on nature, the conventional segment held the highest market share in 2020, accounting for 94% of the global wet cat food market, and is estimated to maintain its leadership status throughout the forecast period. This is majorly attributed to rise in awareness regarding health issues among pet animals, including physical and psychological disorders. Moreover, the organic segment is projected to manifest the highest CAGR of 7.4% from 2021 to 2030. This is due to rise in awareness regarding benefits of organic wet cat food.

The mass segment to maintain its lead position during the forecast period

Based on price point, the mass segment accounted for the largest share in 2020, contributing to nearly three-fifths of the global wet cat food market, and is projected to maintain its lead position during the forecast period. This is due to their affordability and easy availability in small or local pet stores. Moreover, the premium segment is expected to portray the largest CAGR of 6.1% from 2021 to 2030, owing to operating players in the industry who are now venturing into premium segment to cater on a new consumer class.

Asia-Pacific, followed by North America, to maintain its dominance by 2030

Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue in 2020, accounting for nearly two-fifths of the global wet cat food market. Moreover, this region is expected to witness the fastest CAGR of 7.1% from 2021 to 2030, due to rise in disposable income, improvement in standard of living, and increase in spending on health of pets in China and India. Other regions discussed in the report include North America, Europe, and LAMEA.

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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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables

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