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

The increasing preference of cat owners to feed their cats wet food is leading to the growth of the global cat food market.

PORTLAND, Portland, US, Jan 3, 2022 / EINPresswire.com/ – According to Allied Market Research published a report titled “Wet Cat Food Market by Nature (Organic and Conventional), Price Point (Mass and Features), and Distribution Channel (Specialty Store, Super Market/Hypermarket, Online Store, and Others): Global Opportunity Analysis and Industry Outlook, 2021-2030”. According to the report, the global wet food industry generated $4.6 billion in 2020 and is expected to generate $7.9 billion by 2030, experiencing a compound annual growth rate of 5.7% from 2021 to 2030.

basic determinants of growth

The increasing preference of cat owners to feed their cats wet food is leading to the growth of the global cat food market. However, the higher cost and lower shelf life of wet cat food compared to dry cat food are hampering market growth. On the other hand, the availability of cat treats, which are also available in wet form, offers new opportunities in the coming years.

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Covid-19 scenario

The outbreak of the Covid-19 epidemic has led to a global shutdown and temporary shutdown of manufacturing facilities, which has hampered the growth of the global bathroom faucets market to some extent.
The pandemic has affected global logistics and transportation but has had a smaller impact on the wet cat food market, as pet owners are increasingly choosing locally manufactured wet cat food products.
The traditional part to maintain its leadership position throughout the forecast period

Based on nature, the conventional segment held the highest market share in 2020, accounting for 94% of the global wet food market for cats, and is estimated to maintain its leadership position throughout the forecast period. This is mainly due to the increased awareness regarding health issues among pets, including physical and psychological disorders. Furthermore, the organic segment is expected to show the highest compound annual growth rate of 7.4% from 2021 to 2030. This is due to the increased awareness of the benefits of organic wet cat food.

Comprehensive segment to maintain its leading position during the forecast period

Based on the price point, the mass segment captured the largest share in 2020, contributing nearly three-fifths of the global wet cat food market, and is expected to maintain its leading position during the forecast period. This is due to their affordability and ease of availability at small or local pet stores. Moreover, the premium segment is expected to feature the largest compound annual growth rate of 6.1% from 2021 to 2030, due to industry players now venturing into the premium segment to cater to a new class of consumers.

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 experience the fastest compound annual growth rate of 7.1% from 2021 to 2030, due to higher disposable income, improved standard of living, and increased spending on pet health in China and India. Other regions discussed in the report include North America, Europe, and Llama.

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Market Leading Players:-

Mars, Incorporated
Nestle Purina brands
TiernahrungDeuerer GmbH
WellPet LLC
Farmina pet food
Diamond Pet Food
Hill Pet Feeder
Blue Buffalo Co., Ltd.
J.M. Smucker Company.
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David Correa
Allied Analytics LLC
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