Europe Wet Pet Food Market

Europe Wet Pet Food Market Analysis 2022 - 2027:

Europe Wet Pet Food Market is expected to experience moderate growth to record a CAGR of 4.8% throughout the forecast period (2022 - 2027).

Wet pet food is pet food that contains a high proportion of water in the range of 75 to 85%. It is often rich in protein and fat and provides the energy and vital nutrients necessary for metabolism. The humanization of pets means that owners are trying to integrate pets into more and more aspects of their human lives, such as vacations, nutrition, medical care, etc. This has led to the commercialization of human-like goods and services for pets, health services, including health insurance and advice, which are one of the main drivers of growth in this market.

Impact of covid-19 on Europe Wet Pet Food Market

The cloud kitchen and restaurant food delivery business continues to exist, although there is a drastic drop in sales. This is just the ray of hope for the F&B media in the wake of this pandemic. The food delivery option serves as a way to respond to customers on a limited scale, with the adoption of contactless delivery, a term that emerged after the outbreak of the Covid-19 pandemic. Only a few outlets offer the delivery option, especially in red areas like Mumbai, keeping in mind the health and safety of their staff and clients associated with logistical constraints. Moving forward, the delivery activity should be part of the business model of all food and beverage outlets and be a source of income to improve the chances of returning the business to a commercially viable and sustainable model. Establishments go to great lengths to prepare for touchless dining. Efforts on the technology front with the use of QR codes, non-human interference except for serving food at the table, higher levels of hygiene for both staff and customers will become a reality in the operating world post-Covid for hotel companies. Hotels and restaurants are already updating their SOPs to include new global health, safety, sanitation and contactless aspects for their post-Covid operations.

Recent Developments 

In April 2006, Mars, Incorporated and Doane Pet Care Company, a Nashville, Tennessee-based manufacturer of dry pet food products, announce today that Mars has signed an agreement to acquire Doane's parent company, Doane Pet Care. Enterprises, Inc. of Teachers' Private Capital, the private equity arm of the Ontario Teacher Pension Plan.

A key driver of JM Smucker Co.'s performance for fiscal year 2019 is Ainsworth Pet Nutrition LLC. JM Smucker Co. posted net earnings of $ 515 million or $ 5 per share in common stock, 62% less than in the same period last year when the company had earned $ 1,339 million, or $ 12 per share.

Market Drivers and Restraints:

The rapid pace of economic and social change may be related to trends in pet ownership. As the new generation of professionals becomes more isolated, the social comfort, company, safety, and aesthetic sense that pets offer are the top reasons cited for owning a pet. Urbanization is the main factor affecting pet food. The increasing urbanization leads to the decomposition of large homes and the separation of nature. These are often linked to the desire for pets. Prosperous animal welfare programs around the world have the prevailing theme of humanizing pets. Also, emotionally, the owners consider their pets as part of the family and are now very attentive to the food of their animals. This forces the owner to find quality food for their pets, and does not hesitate to make an extra effort in terms of money so that their animals receive adequate nutritional nutrition. Today, pets also eat high-quality, expensive food. However, in fact, personal disposable income (DPI) in European countries is about to grow between an annual growth rate that ranges between 0.9% and 7.0, according to estimates by the Organization for Economic Cooperation operation and development (OECD). As a result, thanks to this healthy DPI, pet owners can now pay for pet food expenses, resulting in better income for the European pet food market. As past trends open up new horizons in the European pet food market, producers struggle to identify demand for normal, organic pet food. In addition, customers of vendors in the pet food sector demand more transparency in terms of ingredients and processing. However, companies strive to retain customers by providing information about their products.

Market Segmentation:

The Europe wet pet food market, by type of packaging, is also segmented into boxes, sachets and others. The can segment has dominated the wet pet food market, while the bag segment is expected to grow at the highest growth rate during the forecast period. The growing demand for superior and advanced food packaging by pet owners, along with continuous innovations in packaging materials, is expected to fuel growth in the bag segment. Features such as zipper and lightweight mechanisms, as well as the availability of bags of different sizes provide convenience to customers.

The wet pet food market by distribution channel has been segmented into supermarkets and hypermarkets, specialty pet stores, online and others. Supermarkets and hypermarkets have dominated the wet pet food market, while online they are expected to represent a significant part of the wet pet food market.

Regional Analysis:

The Europe Wet Pet Food market has been classified by geography into United Kingdom, Germany, France, Italy, Spain and the rest of Europe. Also, the region is home to countries such as Germany, which is the second largest exporter in the world, with exports representing more than a third of national production. The Wet Pet population in Europe is increasing, especially cats. This increase is attributed to two factors, namely the growth of retirees and a constant decrease in birth rates in the country. Cat food is the most popular pet food, while dog, bird and fish food has declined slightly recently.

Leading Company

Mars Inc. had the substantial share of the Wet Pet Food Market in terms of sales and revenue in 2020.

Key Players

The European wet pet food market is made up of leading players, such as Mars Inc., Hills Pet Nutrition and Nestlé Purina Petcare, which together account for more than half of the market share. Almost all players have multiple stores, warehouses and distribution points spread across Europe