Cat wet food provides complete and balanced nutrition to cats in a form that closely resembles their natural diet. It helps maintain dental and digestive health of cats as it contains high moisture content. The global cat population has been increasing rapidly over the years due to rising pet humanization where cats are treated more like family members rather than pets. This has been fueling the demand for specialized nutritious cat foods like wet food.

The Global Cat Wet Food Market is estimated to be valued at US$ 5.79 Billion in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2024 to 2031.

Key Takeaways
Key players: Key players operating in the cat wet food market are Nestle S.A, Mars, Incorporated, Royal Canin SAS, Hill’s Pet Nutrition Inc., Unicharm Corporation, Heristo AG, Yantai China Pet Foods Co., Ltd., and Central Proteina Prima Tbk, among others. Nestle and Mars together account for over 30% share of the global market.

Growing demand: With increasing pet humanization, more owners are feeding their cats premium nutritional diets and cat wet food as against dry foods. This growing awareness about importance of optimum nutrition is fueling demand for cat wet foods globally.

Global expansion: Major cat food manufacturers are expanding their manufacturing facilities and distribution networks globally especially in Asia Pacific and Latin America where pet keeping is becoming popular rapidly. This is allowing them to cater to the rising demand for cat wet foods across international markets.

Market key trends
One of the major trends gaining traction in the cat wet food market is the rising demand for natural and organic wet foods. Cat owners are increasingly preferring wet foods made from natural ingredients as against foods containing artificial preservatives, flavors and colors. Specifically, wet foods containing ingredients such as real meat, vegetables and fruit are popular. Overall, the focus on natural and organic ingredients is helping drive additional growth in the global cat wet food market.

Porter's Analysis
Threat of new entrants: High upfront costs such as establishing manufacturing plants deters new companies from entering the market.
Bargaining power of buyers: Large retailers have significant bargaining power over manufacturers due to their ability to switch between brands easily.
Bargaining power of suppliers: Key ingredients such as meat, fish, and grains have many suppliers giving buyers negotiation power over prices.
Threat of new substitutes: Rising demand for natural and human-grade pet foods poses a threat from substitutes like homemade pet meals.
Competitive rivalry: Established brands compete for market share through product innovation, advertising, and expansion into new geographies.

Geographically, North America accounted for the largest share of the global cat wet food market in 2024 due to growing pet humanization and high disposable incomes in countries like the US and Canada. China represents the fastest growing regional market through 2031 as rising incomes and pet ownership drive high demand, especially in tier 1 and tier 2 cities.