DUBLIN, Jan. 23, 2024 (GLOBE NEWSWIRE) — 'Global' by Pet (Dog, Cat), Source (Animal-based, Plant-based, Synthetic), Distribution Channel (Pet Specialty Store, Supermarket/Hypermarket) 'Wet Pet Food Market (Convenience Stores, Online) and Regions – Forecast to 2028' report added ResearchAndMarkets.com Recruitment.
The global wet pet food market is experiencing significant growth, with an estimated value of USD 25.5 billion in 2023 and projected to reach USD 31.7 billion by 2028, growing at a CAGR of 4.5%. The growth of this industry reflects changing consumer preferences due to urbanization and advanced lifestyles, especially in urban areas.
Convenience store sales have proven to be a powerful strategy for wet pet food sales and are expected to grow at a CAGR of 3.9%. The botanical derivatives sub-segment of the wet pet food market exhibits an increasing preference for plant-based ingredients in pet diets and is expected to register a CAGR of 4.2% during the forecast period.
In Europe, the wet pet food market is expected to grow significantly and reach USD 8.2 billion by 2028, driven by a combination of cultural trends, pet health awareness, and strict pet product standards.
The report's participant profile shows a majority of Tier 1 companies at 50%, insights gleaned primarily from manager-level appointments at 60%, and geographic participant distribution with Asia Pacific at 40%. , which shows Europe at 30%.
Key players in the market include global companies known for the quality and innovation of their pet food products. This study provides an in-depth analysis of factors such as drivers, restraints, and opportunities influencing the trajectory of the Wet Pet Food market.
An extensive competitive analysis reveals the strategies employed by market leaders, including a focus on progressive product offerings, strategic partnerships, and alignment with a holistic pet care ethos.
Key findings from the research:
- Insightful analysis of Wet Pet Food market dynamics, growth trends forecast, and market estimates.
- Emphasis on convenience stores as an emerging distribution channel.
- Consumer interest in vegan options and sustainability is increasing demand for plant-based content in pet food.
- We take a deep dive into the characteristics of the European market that contribute to its significant growth rate.
The detailed report serves as an essential resource for industry players, offering key insights into market dynamics and strategic imperatives. With a focus on addressing pet nutritional needs and pet owner convenience preferences, we aim to facilitate informed decision-making in this evolving market environment.
This report provides insight into the following guidelines:
- Detailed analysis of key drivers, constraints, challenges, and opportunities in the Wet Pet Food market.
- Insights on new product launches and innovations within the market.
- Comprehensive market development analysis to understand lucrative markets across the globe.
- Market diversification strategies, including information on new products and untapped regions.
- Competitive assessment reveals market share, growth strategies, and product offerings of leading companies.
This information provides forecasts outlining market potential and serves as a strategic guide for companies and innovators navigating this competitive space.
Key attributes:
| report attributes | detail |
| number of pages | 314 |
| Forecast period | 2023-2028 |
| Estimated market value in 2023 (USD) | $25.5 billion |
| Projected market value to 2028 (USD) | $31.7 billion |
| compound annual growth rate | 4.5% |
| Target area | global |
Companies mentioned
- Ami Planet Srl
- A company that makes better choices
- Charoen Pokpan Foods Co., Ltd. (Perfect Companion Group)
- Colgate-Palmolive Company (Hill's Pet Nutrition, Inc.)
- farmina pet foods
- general mills company
- Granatapet GmbH & Co. KG
- Inaba Pet Food Co., Ltd.
- little bigpaw
- Mars Inc.
- Monge Spa P.Iva
- Nestlé (Nestlé Purina Pet Care Company)
- Japan Pet Food Co., Ltd.
- Nouro
- Petline Natural Animal Nutrition
- Real Pet Food Co., Ltd.
- Shell & Campeter
- Shanghai Biruiji Pet Products Co., Ltd.
- Sunshine Mills Co., Ltd.
- Thai Union Group Pcl.
- JM Smucker Company
- Tiki Pets (White Bridge Pet Brand)
- Unicharm Co., Ltd.
- Yara
- Ziwi Pet
For more information on this report, please visit https://www.researchandmarkets.com/r/9rkexi.
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Global wet pet food market
