February 21, 2024

The Global Cat Wet Food Market Is Powered by Rising Pet Ownership And Increasing Focus on Quality

The cat wet food market involves manufacturing and selling canned or pouched wet food for cats. Wet food provides cats with moisture and nutrients from meat, fish or poultry ingredients in gravy or sauce. It helps maintain hydration and digestive health in cats. Wet food comes in varied textures like pate, slices or chunks that aid in dental care. The balanced nutrition in wet cat food supports overall health, energy levels and skin & coat quality in cats. It can be mixed with dry food or given separately.

The global cat wet food market size 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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Rising pet ownership around the world and growing awareness about proper pet nutrition are driving the demand for high-quality wet cat foods. Increasing humanization of pets and perceived health benefits of wet food consumption in cats are encouraging owners to spend more on premium brands. With rising disposable incomes, cat parents are willing to pay extra for wet foods containing nutritious ingredients like real meat, fish or poultry. Innovation in packaging types, product formats, flavors and textures is further attracting consumers. Continuous improvements in formulations to match cats’ natural diet and address allergy issues are boosting the popularity of wet cat foods globally.

Market key trends:

One of the major trends in the cat wet food market is the rising demand for limited ingredient and single-protein varieties. These foods help address dietary sensitivities and allergies in cats. They contain a single high-quality protein source like beef, salmon or chicken along with limited other ingredients. This clearly defined recipe aids easier diagnosis of allergies. Another key trend is the growing popularity of canned food in pouches. Pouches containing wet food are more portable, mess-free and resealable. Companies are extensively marketing pouch formats to appeal to millennial pet parents. Furthermore, increased focus on sustainability and reduction of plastic waste is augmenting the application of biodegradable pouches in the market.

Porter’s Analysis

  • Threat of new entrants: The threat of new entrants in the cat wet food market is moderate. While start-up costs are relatively low, major players like Nestle and Mars have strong brand loyalty and economies of scale that may deter new competitors.
  • Bargaining power of buyers: The bargaining power of buyers in the cat wet food market is high. Buyers have a variety of product options from various manufacturers. They can also substitute dry food if wet food prices increase significantly.
  • Bargaining power of suppliers: The bargaining power of suppliers is moderate. While some key raw materials have limited sources, factors like captive backward integration reduce dependence on external suppliers.
  • Threat of new substitutes: The threat of substitutes is moderate. While dry cat food is a cheaper alternative, wet food has gained popularity for its moisture content and perceived health benefits.
  • Competitive rivalry: Competition in the cat wet food market is high among major players. Manufacturers compete based on nutrition, taste, packaging, advertising, and promotions to win over customers.

Key Takeaways

The global cat wet food market is expected to witness high growth over the forecast period. Driven by rising pet ownership and humanization of pets, demand for premium cat foods with added nutrients is rising globally. The global cat wet food market size 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 2024 to 2031.

North America currently dominates the cat wet food market owing to a high pet ownership rate in countries like the US and Canada. Changing lifestyles and urbanization are propelling the popularity of convenience foods like wet cat foods in the region. Europe is another major market fueled by innovations in functional wet foods catering to allergen-free and age-specific cat nutrition.

Asia Pacific is projected to be the fastest growing region for cat wet foods supported by growing middle-class disposable incomes and nuclear families in China, India, and Southeast Asian countries. South American countries are also emerging as high potential markets.

Key players operating in the cat wet food market 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. Manufacturers are launching innovative products in pouches and gravy forms targeting different life stages and health profiles of cats.