Market Overview:
Cat wet food are pre-cooked or semi-moist pet foods that contains a high moisture content to provide hydration and easy digestion for cats. It mimics the natural diet of cats as they derive fluids from their prey. Cat wet foods are nutritionally balanced, contain high-quality proteins, vitamins and minerals to meet feline dietary needs. The demand for cat wet foods is increasing due to rising awareness about the benefits of wet foods over dry kibbles. Canned and pouched wet cat foods offer significant physiological and behavioral advantages for cats compared to dry kibbles.
The Global Cat Wet Food Market is estimated to be valued at US$ 5.79 Billion in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Cat Wet Food are Nestle S.A, Mars, Incorporated, Royal Canin SAS, Hill’s Pet Nutrition Inc., Unicharm Corporation, Heristo AG, Yantai China Pet Foods Co., Ltd., and Central Proteina Prima Tbk, among others. The growing awareness about the benefits of cat wet food such as preventing dehydration, promoting oral health, managing weight and providing high palatability is fueling the demand. Moreover, premiumization and availability of natural, organic and grain-free wet foods are gaining popularity. The cat food market leaders are expanding their distribution channels globally and entering emerging markets through e-commerce platforms and brick & mortars to tap potential growth opportunities.
The rising trend of humanization of pets is driving the global expansion of cat wet food market. The willingness of pet owners to spend on premium products for their feline companions is attracting investment and innovations from manufacturers. In addition, increasing millennial ownership of cats and growing acceptance of cats as companions are propelling the sales of cat wet foods.
Market Key Trends
Increasing preference for natural, grain-free and protein-rich cat wet foods is one of the major trends witnessed in the market. Owners are concerned about pet food ingredients and prefer premium wet foods with natural meats or fish as a protein source as it closely resembles their natural carnivore diet. As cats are obligate carnivores, grain-free wet foods sans corn, wheat or soy are popular in premium segments. This trend is encouraging manufacturers to launch natural, single-source protein variants at different price points to tap the growing consumer inclination towards natural pet foods.
Porter's Analysis
Threat of new entrants: Established brands hold strong distribution channels and customer loyalty making entry difficult.
Bargaining power of buyers: Large retail buyers can negotiate for better prices and terms from manufacturers.
Bargaining power of suppliers: A few multinational corporations dominate raw material supplies giving them pricing power.
Threat of new substitutes: Potential for new pet food types but wet food benefits of hydration and nutrients make direct substitution unlikely.
Competitive rivalry: Major brands compete aggressively on product variety, promotions and vet recommendations keeping prices and profits in check.
The North American region accounts for the largest share of the global cat wet food market, both in terms of value and volume. Factors such as higher pet ownership, increased pet humanization, and rising pet care expenditure are driving the market in the region. The Asia Pacific cat wet food market is projected to grow at the fastest pace during the forecast period. Rising living standards, growing pet population, and increasing pet care awareness in many Asian countries are fueling demand. Countries like China and India with their huge populations are especially high potential markets.
Geographical Regions
The North American region accounts for the largest share of the global cat wet food market, both in terms of value and volume. Factors such as higher pet ownership, increased pet humanization, and rising pet care expenditure are driving the market in the region. The Asia Pacific cat wet food market is projected to grow at the fastest pace during the forecast period. Rising living standards, growing pet population, and increasing pet care awareness in many Asian countries are fueling demand. Countries like China and India with their huge populations are especially high potential markets.
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