Press release
Cat Food Market Segments, Analysis, Size, Share And Outlook Report 2033
Cat Food Market Share
According to The Business Research Company's, The cat food market size has grown strongly in recent years. It will grow from $21.9 billion in 2023 to $23.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased pet ownership, humanization of pets, veterinary recommendations, product diversification, brand loyalty.
The cat food market size is expected to see strong growth in the next few years. It will grow to $30.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to natural and organic ingredients, sustainable packaging, customization and personalization, plant-based and alternative proteins, health and wellness trend. Major trends in the forecast period include grain-free and limited ingredient diets, sustainable and ethical sourcing, functional and specialty cat foods, customization and personalization, clean labeling and transparency.
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Market Drivers and Trends:
The increasing number of cat owners is expected to propel the growth of the cat food market going forward. Cat owners are individuals who own one or more cats as pets, but do not own any other pets. The quality of the food in particular cat food is important for the cat's well-being, which helps cats to keep healthy and long-living. Hence, an increase in the number of cat owners will increase the demand for cat food. For instance, according to the American Veterinary Medical Association, a US-based association that advances the science and practice of veterinary medicine to improve animal and human health, the percentage of households that own at least one cat increased slightly between 2020 and 2022, from 26% to 29%. Therefore, the increasing number of cat owners is driving the growth of the cat food market.
Product innovations are a key trend gaining popularity in the cat food market. Major companies operating in the cat food market are focused on developing new solutions to strengthen their position in the market. For instance, in March 2022, ORIJEN, a US-based pet food company, launched ORIJEN GUARDIAN 8 cat food in Canada. ORIJEN GUARDIAN 8 is a new adult cat kibble formulated with high-quality ingredients that it uses only a few supplements to help round out a cat's diet and long-term health. The first five ingredients of ORIJEN GUARDIAN 8 are fresh or raw poultry and fish ingredients, which offer biologically appropriate nutrition for adult cats with a taste they crave. The authentic WholePrey diet features the most succulent parts of the prey to mimic what a cat's ancestors consumed in the wild.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Mars Incorporated; Nestle Purina PetCare Company; The J.M. Smucker Company; Evanger's Dog & Cat Food Company Inc.; Hill's Pet Nutrition Inc.; Affinity Petcare SA; Nutro Products Inc.; PetGuard Holdings LLC; Fromm Family Foods LLC; Blue Buffalo Pet Products Inc.; Beaphar Pet Healthcare Products; Diamond Pet Foods; Harringtons Pet Food; Dave's Pet Food; Boulder Dog Food Company; Real Pet Food Company Pty Ltd.; Freshpet Inc.; Burgess Pet Care; Nature's Variety; JustFoodForDogs; Steve's Real Food; WellPet LLC; Party Animal Inc.; Rollover Premium Pet Food Ltd.; Royal Canin SAS; Nutriara Alimentos Ltd.a.; Canidae Natural Pet Food Company; SCHELL & KAMPETER Inc.; Sheba; Whiskas
Cat Food Market 2024 Key Insights:
• The cat food market will grow to $30.6 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Rising Cat Ownership Fuels Growth In The Cat Food Market
• Key Players Introducing Breakthrough Cat Food Innovation
• North America was the largest region in the cat food market in 2023
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The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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