The global cat food market, valued at $27.8 billion in 2020, is expected to grow at a compound annual growth rate of 4.4% to reach $41.9 billion by 203.
According to a new report by Allied Market Research, titled โCat Food Market by Type, Food Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2030โ, the global cat food market was valued at USD 27,789.5 million in 2020 and is expected to reach USD 41,924.6 million by 2030, growing at a compound annual growth rate of 4.4% between 2021 and 2030.
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The cat food market is growing due to the increasing number of pet owners across the globe. This is due to the rise in the disposable income of consumers. The major factors driving the growth of the global cat food market are rapid humanization of pets, rising trend of nuclear families and increasing awareness about pet health. On the other hand, the rise in pet obesity is expected to restrain the growth of the cat food market during the forecast period.
According to cat food market analysis, the market is classified based on type, food type, distribution channel, and region. The market is naturally segmented into organic and conventional. The conventional cat food is more nutritious as compared to organic cat food, which resulted in the highest sales in 2020. By food type, the cat food market is segmented into dry food, wet food, treats & snacks, and others. Wet food has the highest market share in cat food by food type as it is one of the most convenient food types that cats can easily chew.
By distribution channel, the market is segmented into supermarkets and hypermarkets, specialized pet stores, online distribution channels, and others. Regionally, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. North America contributed the highest revenue in 2020 and is expected to dominate the market during the forecast period.
Cat food choices include plant-based proteins instead of meat, while natural and organic cat treats and snacks act as appetite stimulants for cats with health issues such as diabetes, obesity, allergies, and gastrointestinal disorders. The wet cat food segment is expected to grow gradually during the forecast period owing to the benefits associated with it. Wet food supports overall hydration and improves the body mass of cats. Wet cat food is rich in nutrients and proteins that help cats fight all types of diseases. Cats cannot absorb more carbohydrates as their digestive tract is not functioning well. The wet cat food segment is expected to boost the growth of the cat food industry during the forecast period.
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Population growth, rise in income in developing countries and urbanization have all contributed to the increase in global cat food production. The rise in pet population has led to increasing humanization of pets. Therefore, consumers are leaning towards premium cat food products to minimize the health risks associated with them. It also provides lucrative opportunities in the cat food market for the manufacturers to produce therapeutic and nutritious food for the health of the pets and would enable them to gain a high market share in the cat food industry.
The global cat food market is driven by rapid humanization of pets, increase in pet ownership and demand for therapeutic food. Humanization of pets is a new trend and has led to an increased focus on the health, weight and overall fitness of pets. Therefore, the demand for premium and super premium cat food products has increased significantly as pet owners believe that these are healthier for their pets.
The major players in the cat food industry are Affinity Petcare SA, Evanger’s Dog and Cat Food Company Inc., Fromm Family Food LLC, Hill’s Pet Nutrition, Mars Incorporated, Nestle Purina, Nutro Products Inc., Party Animal Inc., Rollover Premium Pet Food Ltd . and The JM Smucker Company.
Major companies are expanding their presence in emerging markets to meet the growing demand for cat food and snacks. These major market players have adopted various marketing strategies to expand their market reach. The marketing strategies adopted in the cat food market are product launch, partnership, merger, investment, collaboration, joint venture and acquisition.
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โบ The global cat food market was valued at $27,789.5 million in 2020 and is expected to reach $41,924.6 million by 2030, growing at a compound annual growth rate of 4.4% between 2021 and 2030.
โบ By nature, the conventional segment was the largest contributor to the market at USD 18,274.1 million in 2020 and is expected to reach USD 26,741.9 million by 2030, growing at a compound annual growth rate (CAGR) of 4.1% during the forecast period.
โบ By food type, the wet food segment accounted for the largest contribution to the market at USD 10,774.1 million in 2020. It is estimated to reach USD 15,964.0 million by 2030, growing at a CAGR of 4.3% during the forecast period.
โบ By distribution channel, the specialty pet stores segment accounted for the largest contribution to the market at USD 11,192.1 million in 2020. It is estimated to reach USD 16,508.5 million by 2030, growing at a compound annual growth rate (CAGR) of 4.2% during the forecast period.
โบ By region, North America contributed the most to revenue in 2020, at $9,659.6 million. By 2030, this figure is expected to rise to $14,690.4 million at a compound annual growth rate of 4.5%.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality โMarket Research Reportsโ and โBusiness Intelligence Solutionsโ to global corporations, medium and small businesses. AMR has a targeted approach to provide its clients with business insights and consulting to help them make strategic business decisions and achieve sustainable growth in their respective market space.
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