A key factor driving the wet pet food market is the preference of owners toward buying superior products for their pets in order to ensure good health, care, and proper nutrition. Additionally, increase in number of single parents and couples with no kids who own pets is likely to propel the wet pet food market.
These owners adopt pets and care for them as their own child. Wet pet food provides nutrition, good health, and protein to the pets which keeps them healthier. Moreover, increase in the standard of living and disposable income is also driving the wet pet food market. Gradually, the demand of pet food is increasing, which creates significant opportunity for the global wet pet food market. However, rising dental problems for pets which leads to an increase in dental care cost, is restraining the wet pet food market. Moreover, pet sensitivities among customers is another major factor restraining the market.
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The global wet pet food market can be segmented based on product, distribution channel, application, and geography. Based on product, the global wet pet food market can be segmented into dog food, cat food, and others. The dog food segment dominates the market. In terms of distribution channel, the global market can be segregated into online and offline. The online segment is further sub-segmented into retail, supermarket/ hypermarket, special store, and others. Based on application, the global wet pet food market can be classified into commercial and residential. Based on geography, the market can be segmented into Asia Pacific, South America, Europe, North America, and Middle East & Africa. North America is expected to have a significant share of the market during the forecast period. This is due to the abundant availability of diverse pet food products in the U.S. This region is followed by Europe and Asia Pacific in terms of market share.
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Key players operating in the global wet pet food market include Beaphar (U.K), Nestlé (Switzerland), Blue Buffalo Co., Ltd. (U.S), WellPet LLC (U.S), Harringtons Foods (U.K), Colgate-Palmolive (U.S), Spectrum Brands, Inc.(U.S), De Haan Petfood (Netherlands), Mars, Evanger’s, MONGE SPA, Sunshine Mills, PetGuard, Simmons Pet Food, Inc., C&D Foods, Ani Manufacturing, and Darling Ingredients Inc.