Cat Food Market sales are expected to reach US$ 65.21 Bn by 2031, growing at a CAGR of 4.8% for 2021-31

Premiumization and humanization trends are projected to remain chief factors driving sales of cat food in the upcoming decade. According to a recent report by Future Market Insights (FMI), the cat food market is set to surpass US$ 65 Bn rising at a CAGR of 4.8% through 2031.

Demand for higher-quality, nutritionally sound foods for pets is continuing to rise on a global scale. As a result, the all-natural product segment is witnessing an increase in grain-free, meat-and-poultry-first, and clean, wholesome-ingredients.

Cat food flavor profiles are consistent with the rest of the pet food market, which mirrors human dietary preferences. As a result of the increased consumer interest in quality and nutrition, premium wet cat food is becoming popular.

The rising focus on pet health has boosted the scope of sales for functional cat food. Cat owners are looking for products that have higher nutritional value. These factors are creating lucrative growth opportunities for new and existing players.

Functional foods are incorporated with several essential nutrients. Consequently, manufacturers should focus on the launch of new functional products to upscale their business. The demand for frozen and freeze-dried cat food is increasing. One of the factors driving the growth of the frozen and freeze-dried pet food market is the growing trend of nuclear families.

Advertisements and pet health awareness campaigns are on the rise, and celebrity endorsements are another element driving the popularity of frozen and freeze-dried cat foods. These products can be preserved for longer periods of time without losing key characteristics.

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Key Takeaways from the Cat Food Market Study:

Offerings for senior cats account for over 80% of overall sales in 2021, owing to fast growth of felines into adolescent and adult stages.
Sales through online retailers are expected to rise at an above average CAGR of 5.9%, with impetus from the covid-19 crisis.
Thailand will reflect a CAGR of over 7% aided by the presence of multinational production facilities in the country.
The U.S. is estimated to account for nearly 82% of the North American market in 2021, supported by pet humanization trends, and spending on premium products.
China is estimated to account for more than 50% of the East Asia value share in the year 2021, driven by a spike in pet ownership rates.
“Due to the increasing demand for organic and all natural foods, various manufacturers are concentrating their efforts on balanced nutritional offerings, without compromising too much on costs. Manufacturers are leveraging the trend of animal humanization and integrated production to offer cost-effective products through 2031,” said a lead analyst at FMI.

Who is winning?

Leading cat food producers are focusing on strategic collaborations, mergers, and acquisitions in addition to bolstering organic growth strategies to consolidate their presence in previously untapped markets.

Some of the leading companies offering cat food are Evanger’s Dog & Cat Food Company, Inc., Mars, Incorporated, Nestlà Purina PetCare, P&G Pet Care, Ill’s Pet Nutrition, Del Monte Pet Products, Affinity Petcare SA, Nutro Products Inc., Unicharm PetCare Corp., Total Alimentos SA, Nutriara Alimentos Ltda., The J.M. Smucker Company, Fromm Family Foods LLC., Dave’s Pet Food, Boulder Dog Food Company, Rollover Pet Food Ltd., Real Pet Food Company, Party Animal, Inc., Freshpet, Burgess Group PLC, and many others.

Get Valuable Insights into Cat Food Market

Future Market Insights, in its new offering, provides an unbiased analysis of the cat food market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the cat food market based on nature (organic, monoprotein, and conventional), by source (anima-derived, plant, derived, and insect-derived), by product type (kibble/dry, treats and chews, dehydrated food, freeze-dried food, freeze-dried raw, wet food, frozen, raw food, and powder) pet type (kitten and senior), packaging type (pouches, bags, folding cartons, tubs and cups, can, and bottles & jars) and distribution channel (store-based retailing and online retailers) across seven major regions.

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Key Questions Answered in the Report

How much is the cat food market worth?
In 2021, the cat food market is expected to be worth over US$ 40.7 Bn.

What is the share of the top players in the cat food market in 2021?
Mars Incorporated, Purina, The J.M. Smucker Company, Hill’s Pet Nutrition, and Affinity Petcare SA cumulatively will account for a share of 25-30% of the global market.

Which are the top 5 countries driving demand for cat food?
The U.S., the UK, Germany, China, and France consistently reflect high demand for cat food products.

Which countries are key producers of cat food?
The U.S., Germany, Spain, the U.K., and China are the top producers of cat food.

At what rate did the global cat food market grow between 2020 and 2021?
The global market for cat food rose 4.2% between 2020 and 2021.

At what rate did the global cat food market grow in the last 5 years?
The global market grew at a 3.8% CAGR from 2016 to 2020.

What factors are driving the demand for cat food?
The rising trend of pet humanization, growing focus on organic and natural ingredients, and growing pet ownership rates in developing countries are factors driving growth.

What is the North America cat food market outlook?
The North America cat food market is set to rise at a 3.7% CAGR through 2031.

At what rate is the sales of cat food in Europe set to grow?
The Europe market for cat food is projected to rise at a 4% CAGR through the assessment period.

What are the key statistics of the South Korea and Japan cat food market in 2021?
The South Korea and Japan cat food markets account for 10.4% and 8% of the global market respectively.

Contact
Mr. Abhishek Budholiya
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Jumeirah Lakes Towers, Dubai,
United Arab Emirates
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For Sales Enquiries: sales@futuremarketinsights.com

About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.