Grain-Free Diets Are The Fastest Growing Segment Fueling The Growth Of Cat Wet Food Market

 

The global Cat Wet Food Market is estimated to be valued at US$ 44.74 Bn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Cat wet food products are nutritionally balanced and contain proteins, fats, carbohydrates, vitamins, and minerals to meet the dietary needs of cats. These foods are packaged in cans or pouches and are usually made with meat or fish as the primary ingredient. They provide cats with moisture and help promote oral health.

Market key trends:
The cat wet food market has seen the rise of grain-free diets as one of the key trends over the past few years. Many cat owners are switching to grain-free formulations as they believe grains can cause food allergies or intolerance in cats. The growing preference towards grain-free wet foods high in meat protein is expected to drive the demand and growth of this segment in the forecast period. Pet parents are also willing to pay premium prices for products offering single protein sources and ingredients their cats are adapted to eat. This focus on high-quality, natural ingredients free from fillers and preservatives will continue fueling the growth of the cat wet food market.

Segment Analysis
The global cat wet food market is segmented into organic and conventional segments. The conventional segment dominates the market and accounts for around 70% share due to lower prices and higher availability as compared to organic cat wet food. The organic segment is expected to witness faster growth during the forecast period owing to rising health awareness and increasing disposable income among cat owners.

Key Takeaways
The Global Cat Wet Food Market Size is expected to witness high growth, exhibiting CAGR of 3.0% over the forecast period, due to increasing humanization of pets and growing pet population.

Regional analysis
North America dominates the global cat wet food market and accounts for around 35% share due to high pet adoption rates. Europe is the second largest market owing to rising pet owners' expenditure on pet food products. Asia Pacific is expected to witness fastest growth during the forecast period due to increasing nuclear family structure and rising working women population in the region.

Key players
Key players operating in the cat wet food market are Nestle Purina Petcare, Tiernahrung Deuerer GmbH, THE J. M. SMUCKER COMPANY, MARS, INCORPORATED, Heristo AG, Hill’s Pet Nutrition, Farmina Pet Foods, Wellpet LLC, Diamond Pet Foods, Blue Buffalo Co., Ltd. Nestle and Purina are the leading players in the global cat wet food market due to their well recognized brand names and wide distribution network.

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