Cat Food Market to See Incredible Growth from 2023 to 2033

The cat food market value is expected to total US$ 44,744 million in 2023, as per the recent Future Market Insights (FMI) study. The overall sales are expected to reach US$ 60,951.4 million by 2033, capturing a CAGR of 3% from 2023 to 2033.

The remarkable increase in cat adoption rates is primarily due to the expanding millennial population and the growing trend of pet humanization. The cat food business is booming as a result of rising nondiscretionary and discretionary product demand as cat ownership appears to be increasing.

Some of the larger producers are focusing on providing a diverse selection of luxury food items, such as vegan, organic, and gluten-free options, in order to provide better meals for cats. Other market participants are stepping in to develop innovative packaging options in order to remain competitive.

As pet ownership increases and owners seek more premium and nutrient-rich diet options for their feline companions, the cat food market is gradually expanding. As more people realise how crucial a balanced diet is to the health and happiness of cats, the industry is growing. Additionally, the availability of specialised formulations and flavours allows for the satisfaction of a range of feline preferences.

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Among various types, wet cat food segment is gaining traction in the market due to its balanced flavor profile covering vitamins, and minerals. As per the study, it is expected to register a CAGR of around 5% over the forecast period 2021-2031.

With advancements in e-commerce, consumers are now transitioning towards online retailers for purchasing cat food products, which, in turn is spurring sales prospects. As per FMI, it is forecast to expand at a CAGR of 5.9%, reaching a valuation of US$ 8,939.4 Mn by the end of 2031.

Growth prospects are likely to remain positive in China driven by growing urbanization, widespread pet humanization trends and rise in pet ownership trends especially among younger generation. FMI has estimated that, China will account for over 50.8% of East Asia sales in 2021.

“Increasing urbanization along with rising disposable income is contributing to the growth of the cat food market. Growing emphasis on pet humanization trends along with cultural trends are further spurring sales prospects. Besides these, leading market players are focusing on expanding their portfolio. Therefore, a slew of new plant-based products are being launched, which is expected to bode well for the market,” said a FMI analyst.

Key Takeaways from Cat Food Market Survey

Driven by pet humanization trend, China is estimated to account for 50.8% of East Asia market share in 2021.Thailand market for cat food is forecast to grow at a CAGR of 7.5% over the assessment period 2021-2031.The U.S. is leading the market for cat food in North America and is estimated to account for over 89.1% of North America market in 2021.Based on type, demand for wet cat food is anticipated to rise at a CAGR of 5% over the forecast period.Based on distribution channel, online retailers are expected to grow at a CAGR of 5.9% over the assessment period.

Key Drivers

Pet humanization is a major factor driving demand for cat food market.Owing to its high nutritional profile, cat food market is growing at a rapid pace.Growing urbanization along with steady growth observed in the number of cat owners is propelling demand for cat food.

Key Restraints

High impact regulations in the cat food industry is likely to restrict the market growth.

Competitive Landscape

Cat food manufacturers are focusing on new product launches to enhance their product portfolio.

For instance, in 2020, Purina announced the launch of its new, one of its kind cat food called Pro Plan LiveClear, which reduces allergens on cat hair and dander.

In 2021, Catit, the brand known for its range of cat toys and accessories announced the launch of Nuna, the UK’s first ever range of insect-based cat food. With this new launch Catit aims at setting up a new standard in the premium food category.

Some of the leading players operating in the cat food market profiled by FMI are:

Evanger’s Dog & Cat Food Company, Inc.Mars IncorporatedPurinaHill’s Pet NutritionAffinity Petcare SANutro Products Inc.Dave’s Pet FoodBoulder Dog Food CompanyRollover Pet Food Ltd.Real Pet Food Company Pty LtdFreshpetBurgess Group PLCNature’s varietyFromm Family Foods LLCJustFoodForDogs ( approx)The J.M. Smucker CompanySteve’s Real FoodNatures Goodness Pet FoodParty Animal, Inc.Iams

More Valuable Insights on Cat Food Market

FMI, in its new report, offers an unbiased analysis of the global cat food market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in cat food market with detailed segmentation:

By Nature:

OrganicMonoproteinConventional

By Source:

Animal DerivedPlant-derivedInsect-derived

By Product Type:

Kibble/Dry· Treats and ChewDehydrated FoodFreeze Dried FoodFreeze-Dried RawWet FoodFrozenRaw FoodPowder

By Pet Type:

KittenSenior

By Packaging Type:

PouchesBagsFolding cartonsTubs & CupsCanBottles & jars

By Distribution Channel:

Store-based RetailingOnline Retailers