Cat Wet Food Market Growth Anticipated, Share and Outlook 2019-2026Posted by anagha on May 30th, 2019 Market Dynamics Increasing cat ownership by households is fueling demand for cat wet food products. According to the National Pet Survey conducted by the American Pet Products Association (APPA), 47.1 million household in the U.S. were owners to 94.2 million cats in 2017. Moreover, increasing consumer spending on pet food is creating a conducive environment for growth of global cat wet food market. According to United States Department of Labor Statistics, in the U.S., the annual average household expenditure on pet food was valued at US$ 190 in 2014 and increased to US$ 230 in 2015. This is also owing to increasing consumer awareness regarding the nutrition of their pets. Get a PDF Sample of Research Report @ https://www.coherentmarketinsights.com/insight/request-pdf/1615 Government authorities such as Food & Drug Administration (FDA) have imposed regulations on use of feed additives in pet food. For instance, regulation 21 CFR 570, 571 & 572 are related to approval of food additives and 21 CFR 70 is related to approval of coloring. Moreover, the current FDA regulations require proper identification of the product, net quantity statement, name and place of business of the manufacturer or distributor, and proper listing of all the ingredients in the product, in order from most to least, based on weight. Such regulations are key challenges for small & medium scale manufacturers, in order to maintain their product quality. This could adversely affect growth of the market to a certain extent. Increasing demand for organic cat wet food is another factor aiding in growth of the market. Manufacturers could focus on offering organic products, in order to enhance their share in the competitive market. The selection of proper wet food is a crucial step in nourishment of cats. Use of artificial colorants, ingredients leads to increasing prevalence of obesity in cats. Therefore, cat owners are shifting their preference towards organic cat wet food to avoid risk of cat diseases such as diabetes. Market Outlook Based on distribution channel, specialty stores segment is projected to gain major traction over the forecast period. This is owing to increasing launch of new products by key players in specialty stores. For instance, in March 2017, Nestle Purina Pro Plan launched a new prime plus adult 7+ formula to improve health of cats. Prime plus adult 7+ formula was exclusively launched in specialty pet care store across the U.S. The product has four wet options such as Salmon & Tuna Entree Classic, Ocean Whitefish & Salmon Entree, Turkey & Giblets entrée, and Chicken & Beef Entree Classic and contains antioxidants, prebiotic fibers, omega 3, and omega 6 fatty acids. North America held the dominant position in global cat wet food market in 2017. Owing to higher presence of cat wet food manufacturers in the region, it is projected to maintain its dominance throughout the forecast period. U.S.-based manufacturers such as Mars Pet Care Inc., Nestle Purina Pet Care, Hill’s Pet Nutrition Inc., and Big Heart Pet Brands have a broad range of cat wet food product portfolio and well-established distribution network throughout North America. Key players in Global Cat Wet Food Market Key players operating in the global cat wet food market include 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. Get More Information @ https://www.coherentmarketinsights.com/ongoing-insight/cat-wet-food-market-1615 Leading market players are investing to develop new products, in order to increase their consumer base in the global market. For instance, in July 2017, Mars Pet Care launched CRAVE cat wet food in different forms such as Chicken Pate, Turkey Pate, Salmon Pate, Turkey & Duck Pate, Chicken & Beef Pate, and Salmon & Trout Pate. These products were launched with no grains, no artificial flavors, and preservatives. Such activities by leading market players are creating conductive environment for the market growth. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: sales@coherentmarketinsights.com Like it? Share it! More by this author |