Industry Background:
Pet food is a plant or animal material used for the pet’s consumption. Pet food was earlier available only in dry forms. However, the pet food is now available in wet form also. Wet pet food is a combination of water and other dry ingredients. Wet pet food is a gravy based solution which contains 75 % to 85% of water. The major advantages associated with the consumption of wet pet food are it boosts energy, builds and tones the muscles, as well as builds mass. Also, wet pet food is the best source of hydration and thereby, the popularity has gained significantly among the consumers worldwide. Wet pet food offers a variety of nutrients such as minerals, proteins, and others. Moreover, wet food is the best option for those pets who are unable to chew due to the missing tooth, smaller mouths, and inadequate adjusted jaws. Additionally, wet pet food is processed by sterilization process which also kills potential bacteria’s. Owing to the advantages, wet pet food market has gained significant popularity in the global market.
According to AMA Research, the market for Wet Pet Food is expected to register a CAGR of 5.66% during the forecast period to 2027. This growth is primarily driven by An Increase in Pet Ownership
.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Tonnes |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Beaphar (United Kingdom), Nestlé (Switzerland), Blue Buffalo Co., Ltd. (United States), WellPet LLC (United States), Harringtons Foods (United Kingdom), Colgate-Palmolive (United States), Spectrum Brands, Inc. (United States), De Haan Petfood (Netherlands), Mars, Inc. (United States), Evanger's Dog and Cat Food Company, Inc. (United States) and Monge & C SpA (Italy), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 23 March 2018, General Mills, a natural pet food manufacturer acquired Blue Buffalo in 8 USD Million. This acquisition will escalate the market position of General Mills in Pet food products.
The leading Natural food manufacturer and co-packer IPM Food is expanding into the wet pet food market with the launch of NaturPak Pet. The company will be increasing its volume by moving its operation from its current location in Beloit, WI, to a new 162,000-square-foot packaging facility opening in neighboring Janesville in mid-2019.The market is highly competitive, as the demand for the wet pet food products is escalating. Most of the giant players such as Nestle, Beaphar, Blue Buffalo Co., Ltd., WellPet LLC, among others are adopting various organic and inorganic strategies to gain the leading market share. The companies are expanding their product portfolio to offer a wide range of wet pet food as per the market necessities.
Influencing Trend:
Premiumization of Wet Pet Food Products and Omni Channel Retailing
Market Growth Drivers:
An Increase in Pet Ownership, Preference of Owners toward Buying Superior Products for Their Pets and Increase in the Standard Of Living and Disposable Income
Challenges:
Increasing Instances of Pet Allergies among Owners
Opportunities:
Emerging Demand From Developed As Well As Developing Countries
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Wet Pet Food Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Wet Pet Food Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Wet Pet Food players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Wet Pet Food Study Sheds Light on
The Wet Pet Food Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wet Pet Food industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wet Pet Food industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.