asia pacific wet pet food Market

The Asia Pacific wet pet food market is accounted to US$ 3,670.4 Mn in 2018 and is expected to grow at a CAGR of 5.8% during the forecast period 2019 – 2027, to account to US$ 6,079.9 Mn by 2027.

Pet food, which is composed of a high percentage of water, ranging between 75% and 85%, along with other dry ingredients, is termed as wet pet food. The wet pet food is increasingly being preferred by pet owners as they help to boosts energy, builds muscles and lean mass, and stimulates the overall growth mechanism in animals. Consumption of wet pet food helps to provide the necessary nutrients such as proteins, vitamins, and minerals to pets to keep them healthy and hydrated. Moreover, such kinds of foods are considered as an ideal option for pets who cannot chew properly due to missing teeth, improper adjustment of jaws, or other related pet concerns. Such advantages offered by wet pet food makes them a popular and attractive option and the best source of hydration. However, the demand for wet pet food is always dependent upon the health of the pet and the choice of pet owners. The need for a wet pet is increasing across the globe with the rise in focus towards premiumization of pet food products and increase in consumer focus towards the health of their pets. Wet pet food is easily available at different retail channels such as supermarkets and hypermarkets, specialized pet shops, online stores, and others. Among these, online stores for wet pet food is gaining popularity in countries such as the Australia, China, India and Japan. Increased use of mobile phones, computers, and laptops has helped in the growth of digital channels, both in strength and volume. Pet owners in the Asia Pacific countries are adopting the idea of online shopping as it saves time, money, and efforts over other distribution channels.

The Asia Pacific wet pet food market is segmented based on product as dog food, cat food, and others. The dog food segment holds the largest share in the Asia Pacific wet pet food market, while the cat food segment is estimated to garner the fastest-growing segment. The growing inclination of consumers towards the adoption of the dog as a companion for families is projected to propel the growth of the market. The increasing trend towards humanization with dogs is stimulating the sales of premium dog food products. With the rise in sales of wet dog food, manufacturers are focusing on strategic changes to maintain the level of sales on an upward trajectory. Several leaders such as Mars Incorporated, Monge SPA, Nestle Purina are opting for several strategies to acquire a better market position. For instance, in 2017, PEDIGREE, one of the leading dog food brands of Mars Incorporated, re-launched its advanced dog food range as ‘PEDIGREE PRO.’ This launch is in line with the brand’s vision to cater to every breed’s needs throughout their various stages of life.
    
Asia Pacific wet pet food market is segmented based on country as – Japan, Australia, India, China, South Korea, and Rest of Asia Pacific. The Japan holds the largest share in the Asia Pacific wet pet food market, and the wet pet food market in Australia is expected to grow at a faster pace over the forecast period. With the growth of pet food, the demand for wet pet food has substantially gone up the France, which is driving the growth of the market. Also, increasing consumer’s focus towards the humanization of pets coupled with a rise in the pet population in the region has generated the demand for wet pet food. Also, manufacturers are investing in research and development activities to diversify the product line of wet pet food products. This has also surged the demand for the product in the country.                                                                                                   

Some of the players present in Asia Pacific wet pet food market are De Haan Petfood, FirstMate Pet Foods, Little BigPaw, Mars, Incorporated, Monge SPA, Hill's Pet Nutrition, Inc., and Nestlé Purina Petcare amongst the others.
    
The overall Asia Pacific wet pet food market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Asia Pacific Wet Pet Food market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Asia Pacific wet pet food market.