Wet Pet Food Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Wet Pet Food Market is segmented By Type (Organic Acids, Amino Acids, Antibiotics, Industrial Enzymes, Others), By Form (Liquid, Dry, Others), By Proc....
Wet Pet Food Market Size
Market Size in USD
CAGR14.1%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 14.1% |
| Market Concentration | High |
| Major Players | Chr. Hansen A/S, DuPont, AngelYeast Co., Ltd., Lallemand Inc., Lonza |
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Wet Pet Food Market Analysis
The Global Wet Pet Food Market is estimated to be valued at USD 39.2 bn in 2024 and is expected to reach USD 112.6 bn by 2031, growing at a compound annual growth rate (CAGR) of 14.1% from 2024 to 2031. Pet ownership has increased globally with owners perceiving their pets as family members and willing to spend more on premium food varieties. This has propelled the demand for wet pet food which is more nutritious and appetizing for pets compared to dry food variants.
The wet pet food market is expected to witness strong growth over the forecast period. Rising pet humanization trend and increasing nuclear families with dual-income households have boosted demand for high quality pet food including wet varieties. Busy lifestyles have also increased preference for easily serving wet foods. Furthermore, growing awareness about balanced nutrition and various health benefits of wet food over dry kibble is driving the market.