Expanding Wet Pet Food Industry Anticipated to Reach a Valuation of $41.1 Billion by 2034
The global wet pet food market is experiencing steady growth, with an expected increase from approximately USD 27.90 billion in 2025 to around USD 41.75 billion by 2034. This growth, according to industry reports, is driven by a focus on premiumization and rising pet ownership [3][4].
In North America, the region holds a dominant position, capturing a substantial 42.9% share of the global market, with sales reaching approximately USD 11.2 billion in 2024 [1]. This dominance is largely due to the presence of 86.9 million pet-owning households in the United States alone [2].
Dogs hold a dominant market position in the wet pet food category, accounting for more than a 59.3% share [5]. As owners prioritize their pets' health and wellness, the popularity of premium wet dog foods has surged. Brands like Farmina Pet Foods, with their grain-free, high-meat content recipes, are gaining traction [6].
Animal-based products, such as those derived from chicken, beef, and fish, are preferred due to their alignment with pets' natural dietary needs [7]. Companies are responding to this trend by introducing specialized wet pet food options, such as grain-free, organic, and high-protein formulas [8].
Recent entrants to the market include Better Choice Company, with their grain-free, high-protein wet pet food line featuring real meat as the first ingredient, and CATMOR, offering human-grade wet cat food with ethically sourced proteins like free-range chicken and wild-caught fish [6][9].
The growth of e-commerce has further accelerated market expansion, improving access to a diverse range of pet food products. Brands like Bob Martin are expanding their wet pet food ranges with functional recipes targeting joint health, digestion, and skin care [10].
Charoen Pokphand Foods PCL (CPF) has also entered the market with SmartHeart Gold, a premium wet pet food line enriched with omega-3 and antioxidants, launched in Asia [11]. Farmina Pet Foods is expanding into the U.S. and Europe, highlighting growing global demand for premium wet pet food [6].
As the market continues to evolve, pet specialty stores remain a dominant force, capturing more than a 38.6% share in wet pet food sales. These stores attract pet owners with personalized advice, expert nutritional guidance, and access to premium brands often unavailable elsewhere [12].
Pet specialty stores, along with brands like Farmina Pet Foods, Better Choice Company, CATMOR, Bob Martin, and CPF, are set to shape the future of the global wet pet food market, ensuring pets receive the best possible nutrition.
- In the midst of this expanding global wet pet food market, finance plays a crucial role as companies invest in research and development to introduce specialized pet food options such as grain-free, organic, and high-protein formulas.
- Premiumization in the business of pet food, represented by brands like Farmina Pet Foods, Better Choice Company, and CATMOR, is gaining traction due to increasing pet ownership and a growing focus on pets' health and wellness.
