Cat Food Market Outlook 2031
The Cat Food Market was USD 30.19 Billion in 2022 and is likely to reach USD 44.48 Billion by 2031, expanding at a CAGR of 4.4% during 2023 – 2031. The growth of the market is attributed to rapidly increasing urbanization and industrial rates.
Cat food refers to the feed which is commercially prepared, intended for consumption by cats. These are distributed and sold for specific to type of cat’s, in pet stores, supermarkets etc. Pet humanization plays a crucial role in influencing the purchasing decision of cat foods owing to changing demographic patterns, rising income, and consumer preferences.
The shift from ‘ownership’ to ‘parenting’ has influenced the purchasing decision of cat food products. The consumers are prone to clean labels owing to increasing health consciousness for their pets, as consumers are progressively more concerned about their pet’s health, particularly in relation to their diet. Furthermore, they highly prefer natural and organic products. Owners who are highly involved with their pets often spend a large amount on cat food and other pet care products.
The Covid-19 pandemic had a positive impact on the Cat food market. Owing to the pandemic and lockdown imposed by the government, the cat owners prefer to stay at home spending more of their time in pampering and nurturing their cats. The awareness towards healthy living has motivated the pet owners to spend on buying nutrious and protein-rich cat foods for their cats.
Market Trends, Drivers, Restraints, and Opportunities
- Rapidly increasing urbanization and industrial rates is very crucial to the future growth of the cat food market, which is expected to drive the market during the forecast period.
- Growing humanization of cats is anticipated to boost the market.
- Increasing single-populations who preferred to have a cat companion along with them is likely to surge the cat food market.
- Larger low and middle-income group populations in Indonesia are favoring the expansion of economic cat foods is projected to fuel the market in coming years.
- The rise in internet sales and the growth of e-commerce is important in convenience-oriented cat food markets is projected to drive the cat food market.
- R&D investment and technological advancement in cat food market are expected to offer lucrative opportunities for the market players.
Scope of Cat Food Market Report
The report on the cat food market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Cat Food Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Product (Dry Cat Food, Wet Cat Food, Veterinary Diet, Treats/Snacks, and Organic Products) and Sales Channel (Specialized Pet Shop, Internet Sales, Hypermarkets/Supermarkets, and Other Sales Channels)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Mars Inc; Hill’s Pet Nutrition; Blue Buffalo Company; Nestle Purina Petcare Company; and Canidae Natural Pet Food Comp
Cat Food Market Segment Insights
The dry and wet cat food segment is projected to constitute a large market share
Based on product, the cat food market is segregated into dry cat food, wet cat food, veterinary diet, treats/snacks, and organic products. The dry and wet cat food segment is expected to account for a key share of the market during the forecast period owing to cats consuming very less water, veterinarians and other cat experts recommend that wet food should be served at least once a day to provide hydration and prevent urinary infections.
Moreover, dry cat food is purchased, as it is comparatively cheaper and provides greater convenience and also good for cat’s dental health. Hence, cat owners are recommended to purchase both dry and wet cat food and provide them with an optimum balance which is anticipated to fuel the segment.
The internet sales segment is expected to register a substantial CAGR
Based on sales channel, the cat food market is divided into specialized pet shop, internet sales, hypermarkets/supermarkets, and other sales channels. The internet sales segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to changing customer preferences, rising accessibility of internet in the region and convenience oriented with home delivery and online platforms; however, supermarkets/hypermarkets segment is anticipated to expand at a rapid pace during the forecast period owing to accessibility of variety of products within a limited space.
The cat food market has been segmented on the basis of:-
- Dry Cat Food
- Wet Cat Food
- Veterinary Diet
- Organic Products
- Specialized Pet Shop
- Internet Sales
- Other Sales Channels
Key players competing in the cat food market include Mars Inc; Hill’s Pet Nutrition; Blue Buffalo Company; Nestle Purina Petcare Company; and Canidae Natural Pet Food Comp. Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,
In February 2020, Nestle Purina expanded its Clinton, Iowa factory. The USD 140 million (CHF 138 million) investments is expected to allow Purina to meet growing demand from pet owners for nutritious, science-based dog and cat foods using high-quality and trusted ingredients.
In May 2018, JM Smucker Company acquired Ainsworth Pet Nutrition LLC, a marketer and distributor of pet snacks for USD 747 million. The acquisition has strengthened the company's position in the dog and cat snacks segment with the presence of brand, Rachel Ray Nutrish, in fast-growth segments, including natural meats and long-lasting chews.