North America Wet Pet Food Market

North America Wet Pet Food Market Size Analysis (2024 - 2029)

North America Wet Pet Food Market size is expected to be USD 10.36 billion in 2024 and is foreseen to reach over USD 13.60 billion by 2029 with a CAGR of 5.6% in a given forecast period 2024 to 2029.

Wet Pet food mainly constitutes water, ranging from 75% to 85%, along with other prominent ingredients like proteins, vitamins and minerals. It is finding increased demand among pet owners as it improves vitality, muscle strength, and promotes overall growth in pets. Additionally, these foods are considered an ideal option for pets that cannot chew properly due to missing teeth, improper jaw setting, or other pet-related issues. Although the demand for wet pet food depends on the health of the animal and the choice of pet owners, it is increasing around the world with growing attention from producers to the primacy of their pet’s products.

The rising concerns related to pet nutrition and health are majorly supporting the growth of the North American wet pet food market. As wet pet food contains both animal and plant derivatives such as chicken, meat broth, vegetable broth, eggs, etc., it is attracting the domestic animals. It also contains higher amounts of protein and fat, flavored minerals, and added preservatives, making it more nutritious and tastier for animals. These nutrients provide several health benefits, such as increased energy, muscle building and tone, and building lean mass. It also helps fight infections, perform daily activities, repair teeth and bones, and improve stamina for better metabolism. All these benefits have increased the demand for wet pet food among pet owners in North America. These days, pet owners are more concerned with their pets' nutrition. The shift from 'ownership' of animals to 'parenting' has been identified as the main reason for the growth of the local market. In addition, the growing awareness of proper nutrition for general animal health has forced buyers to opt for premium food products that are likely to drive the growth of the North America wet pet food market in the future.

This Research Report on North America Wet Pet Food Market is segmented and sub segmented into following categories

North America Wet Pet Food Market By Type

• Dog Food
• Cat Food

The dog food segment in the North American wet pet food market is estimated to have a leading market share, while the cat food segment is supposed to grow at the fastest rate. Dogs are one of the most popular foods for animals in North America.

North America Wet Pet Food Market By Application

• Residential 
• Commercial

The residential segment accounted for a significant portion of the local market and is supposed to continue its hold in the coming days. The North American wet pet food market is segmented on the basis of distribution channel into offline retailers and online retailers. Of, offline retailers are further segregated as supermarkets and hypermarkets, specialty pet stores, and others. The supermarket and hypermarket segment in the local market is estimated to have a leading market share, while the online segment is foreseen to record the fastest growth rate.

Wet Pet Food Market By Region

• United States
• Canada
• Mexico
• rest of North America

The North American pet food market is likely to record a CAGR of 5.7% during the forecast period (2022 - 2027). The increasing humanization of pets and awareness of high nutritional value pet foods have affected consumer purchasing decisions. According to the American Pet Products Association, 67% of American households have a pet in 2019-2020, which is equivalent to 84.9 million households and is expected to increase even more during the study period. This indicates a growing opportunity for pet foods as the trend for pet ownership increases in the studied market. The increase in the number of millennial pet owners and the change in the way animals are viewed, which is directly leading to the growth of the wet pet food market in this locale.

Online retail channels represent the fastest-growing wet pet food sales segment in the region due to the convenience factor in purchasing pet products. Pet owners are becoming increasingly attached to pets, prompting them to spend more on healthy pet food. Pet food expenses continue to account for the majority of dollars spent in the industry. According to the American Pet Products Association, by 2020, pet food is expected to have the highest sales, reaching a value of $ 38.4 billion, which is estimated to offer lucrative growth potential for the wet pet food makers in this area.

KEY PLAYERS IN WET PET FOOD MARKET 

Key Players In Wet Pet Food Market Are Harringtons Pet Food, Mars, Nutro, Nestle Purina Petcare Company, Hill's Pet Nutrition

RECENT HAPPENINGS IN THE MARKET

• Partner in Pet Food (PPF), a pet food manufacturing company in Europe, confirmed about its plans to obtain Doggy, a pet food processor that is based in Sweden.

• US consumer group Spectrum Brands bought Armitage Pet Care, a UK specialist in treats and toys for pets, for a business value of £ 140 million from private equity investor Rutland Partners. The Grocer revealed in September that Rutland, which bought the producer from Good Boy and Meowee in September 2017, had tasked PwC with managing a sales process for Armitage Pet Care.
• Simmons Pet Food, Inc., a subsidiary of Simmons Foods, Inc. completed the purchase of Menu Foods Limited, which is a leading North American private labelled supplier of wet pet food products. Headquartered in Arkansas, the Simmons family of companies represents a highly diverse agricultural organization with annual sales of more than $ 1 billion.
• The 2018 acquisition of Ainsworth Pet Nutrition LLC played a key role in JM Smucker Co.'s performance for fiscal 2019. The company's other business units: US Retail Coffee, US Retail Consumer Foods, and International and Away From Home: posted mixed results for the year.