Global Wet Pet Food Market Insights Forecasts to 2032

• The Global Wet Pet Food Market Size was valued at USD 24.4 Billion in 2022.
• The Market Size is Growing at a CAGR of 4.1% from 2022 to 2032
• The Worldwide Wet Pet Food Market Size is expected to reach USD 36.5 Billion by 2032
• Asia Pacific is expected to Grow the fastest during the forecast period

The Global Wet Pet Food Market size is anticipated to exceed USD 36.5 Billion by 2032, Growing at a CAGR of 4.1% from 2022 to 2032. As pet owners seek easy and nutritionally balanced solutions for their dogs and cats, the wet pet food business has grown significantly. This section provides a variety of products with higher protein content and fewer carbs, in line with the trend of prioritizing pet health and mimicking natural diets. The market's expansion is also being fueled by the humanization of pets, which is driving demand for premium, gourmet options resembling human food.  

Market Overview

The global wet pet food market includes an expanding business dedicated to the production and sale of moist, canned, or pouched food products designed specifically for pets, primarily dogs and cats. Wet pet food, also known as canned pet food, is distinguished by its high moisture content, which typically ranges from 70% to 85%, making it an important source of hydration for pets in addition to nutrition. This segment of the pet food industry provides a diverse range of products, including a variety of flavors, formulations, and dietary options designed to meet the nutritional needs of pets. To provide a balanced diet for animals, wet pet food typically contains a combination of meats, vegetables, grains, and additives such as vitamins and minerals. It is well-known for its pet palatability and appeal, making it an excellent choice for picky eaters or pets with dental issues. The global wet pet food market has grown steadily as a result of factors such as increased pet ownership, increased pet health and nutrition awareness, and pet owners' desire to provide their animals with high-quality, flavorful, and nutritious meals. This market is expected to remain a significant and dynamic segment of the pet care industry as pet humanization continues to shape consumer preferences.

Report Coverage

This research report categorizes the market for the global wet pet food market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the wet pet food market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the wet pet food market.

Driving Factors

People all over the world are adopting pets, including dogs and cats, which has resulted in an increase in demand for wet pet food products. As pet ownership becomes more common, so does the demand for high-quality pet food, including wet options. Pet owners are becoming more aware of the importance of feeding their pets a well-balanced and nutritious diet. Wet pet food is frequently perceived as a healthier option due to its high moisture content and use of quality ingredients, which contributes to its popularity among conscientious pet owners. Pet humanization, or treating pets as family members, has had a significant impact on the pet food industry. Pet owners are willing to spend money on premium pet food products, such as wet food, that are similar in quality and variety to human food. Manufacturers in the wet pet food market are continuously innovating to offer a wide range of flavors, formulations, and specialty diets to cater to the diverse dietary needs and preferences of pets. These innovations attract pet owners looking for tailored nutrition options.

Restraining Factors

Wet pet food products are often more expensive than dry kibble due to their higher moisture content and premium ingredients. Price sensitivity among consumers can limit the adoption of wet pet food, particularly in regions with budget-conscious pet owners. The packaging of wet pet food often involves single-use cans or pouches, contributing to environmental concerns related to plastic waste and recycling. Some environmentally conscious consumers may opt for alternative packaging or dry food options.

Market Segmentation

The Global Wet Pet Food Market share is classified into pet and source.

• The dogs segment accounted for a significant share of the global wet pet food market in 2022.  

The global wet pet food market is categorized by pet into dogs and cats. Among these, the dogs segment accounted for a significant share of the global wet pet food market in 2022. Factors such as pet humanization, a focus on pet health, and the desire to provide high-quality and palatable food for dogs have driven the growth of this segment. Dogs are among the most common pets globally, with a vast population across various regions. As a result, the dog food segment constitutes a substantial portion of the wet pet food market. Wet dog food is formulated to meet the nutritional needs and preferences of dogs, offering a variety of flavors, protein sources, and formulations to cater to different breed sizes and life stages. 

• The animal-based segment is expected to grow at the fastest pace in the global wet pet food market during the forecast period.    

Based on the source, the global wet pet food market is divided into animal-based, plant derivatives, and synthetic. Among these, the animal-based segment is expected to grow at the fastest pace in the global wet pet food market during the forecast period. The animal-based segment held a significant share of the wet pet food market, primarily due to its appeal to pet owners and its alignment with pets' natural dietary needs. Animal-based wet pet food is formulated with ingredients primarily sourced from animals, such as meat, poultry, fish, and other animal proteins. These products often provide a higher percentage of animal-derived protein and are preferred for their resemblance to natural carnivorous diets for pets. Animal-based wet pet food is often favored for its high-quality protein content, palatability, and alignment with the dietary preferences of carnivorous pets like cats and dogs.     

Regional Segment Analysis of the Global Wet Pet Food Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold a significant share of the global wet pet food market over the predicted timeframe.

North America is projected to hold a significant share of the global wet pet food market over the predicted years. North America held the largest share of the global wet pet food market, driven by high pet ownership rates and consumer willingness to invest in premium pet food products. North America, particularly the United States and Canada, has traditionally been one of the largest markets for wet pet food. The region has a high rate of pet ownership and a well-established pet food industry. The region's strong economy, a culture of pet humanization, and a focus on premium pet products have contributed to the dominance of North America in the wet pet food market.       

Asia Pacific is expected to grow at the fastest pace in the global wet pet food market during the forecast period. Asia-Pacific accounts for a growing portion of the global wet pet food market, with fastest growth potential due to rising pet populations and shifting consumer preferences. The Asia-Pacific region has witnessed rapid growth in the wet pet food market. Countries like China, Japan, and Australia have experienced a surge in pet ownership. Growing urbanization, rising disposable incomes, and an evolving pet culture have driven the demand for wet pet food in the Asia-Pacific region.     

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global wet pet food along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Nestlé 
• Mars, Incorporated 
• Colgate-Palmolive Company 
• Unicharm Corporation 
• Thai Union Group PCL 
• Charoen Pokphand Foods PCL 
• General Mills Inc. 
• The J.M. Smucker Company 
• Better Choice Company 
• Real Pet Food Co
• MONGE SPA P.IVA 
• Schell & Kampeter, Inc. 
• Inaba-Petfood Co., Ltd. 
• Sunshine Mills, Inc. 
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2023, Mars Petcare Australia, a division of Mars, Inc., has decided to invest approximately USD 77 million in expanding cat food production in Wodonga, Australia. The project includes a 7,800-square-meter facility dedicated to wet cat food production, with two production lines capable of producing 25,000 tons per year. With the support of the Victorian government, this move aims to meet current and future consumer demand, strengthen local operations, introduce new product lines, and solidify Mars Petcare's leading position in the pet food industry.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Wet Pet Food Market based on the below-mentioned segments:

Global Wet Pet Food Market, By Pet

• Dogs 
• Cats

Global Wet Pet Food Market, By Source

• Animal-Based
• Plant Derivatives
• Synthetic

Global Wet Pet Food Market, By Distribution Channel

• Pet Specialty Stores
• Supermarkets/Hypermarkets
• Convenience Stores
• Online

Global Wet Pet Food Market, By Region

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of Middle East & Africa