NEWARK, Del, June 12, 2023 (GLOBE NEWSWIRE) -- The cat food market is forecast to expand at 3% CAGR over the estimated period, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 44,744 million in 2023.
The government's role influences the cat food industry in regulating the available cat food in the countries. Companies are investing more in cat food to meet the specific requirements of cats’ diets.
Increasing consumer willingness to purchase premium products for their cats is leading firms to create a line of premium products. These products contain more nutrition and enhance the living conditions of pets, thus fueling market growth. Consumers are increasingly adopting pets, driving the trend of pet food premiumization, thus reflecting a positive market outlook in the years to come.
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The demand for cat food is also rising on account of more people opting for no kids, thus propelling a trend toward pets as a substitute. Additionally, a surge in dual-income families and old-age couples is leading to a higher cat adoption rate.
Cat food manufacturers are also shifting toward developing vegan cat food to end the ethical dilemma of vegetarians and the vegan population. Manufacturers are enhancing their production units and diversifying cat food to meet the emerging demands of pet owners.
The availability of cat food on e-commerce sites has led to consumers' ability to buy foods without any physical barrier. Customers can compare and evaluate the prices and benefits of the products from the comfort of their homes before making a purchase.
Top Highlights from this Market:
- The United States cat food industry is projected to be more than 32% in 2023.
- In the year 2022, the German cat food industry gained a market value of 10%.
- The Japanese cat food industry is expected to gain more than 0.8% market share in the coming years.
- The United Kingdom cat food industry is projected to expand at 7.5% CAGR over the forecast period.
- The Chinese cat food industry is anticipated to expand at a CAGR of 6.7% over the forecast period.
- The India cat food industry is expected to register a CAGR of 4.5% in the next ten years.
- Based on nature, the conventional segment acquired a maximum market share of 75% in 2022.
- Based on the source, the animal-derived segment gained 68.60% market share in 2022.
- Under the product type category, the kibble/dry category formed 35% of the overall market.
- Based on pet type, the kitten segment gained a 35% market share in 2022.
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Key Players in the Market are Evanger’s Dog & Cat Food Company, Inc., Mars Incorporated, Purina, Hill's Pet Nutrition, Affinity Petcare SA, Nutro Products Inc., Dave's Pet Food, Boulder Dog Food Company, Rollover Pet Food Ltd., Real Pet Food Company Pty Ltd, Freshpet, Burgess Group PLC, Nature's Variety, Fromm Family Foods LLC, JustFoodForDogs, The J.M. Smucker Company, Steve's Real Food, Natures Goodness Pet Food, Party Animal, Inc.
Market Watch: Innovations in this Market
- Mars Petcare obtained NomNomNow Inc. in January 2022. The latter is a D2C fresh pet food brand headquartered in Tennessee, United States that sells fresh food, supplements, and cat treats. Mars Petcare integrated the brand into its Royal Canin division.
- Hill’s Pet Nutrition and Boulder-based company revealed in November 2021 an industry-first collaboration to create a substitute for one of Hill’s most popular meat proteins, especially to meet the cats’ dietary needs.
- Beaphar procured Pet Food UK, a super-premium pet food firm, in December 2021. The company's key brands are ‘Meowing Heads’ and ‘Barking Heads’ for cats and dogs, respectively. This acquisition has invigorated the firm's extant product line and distribution channel.
Industry by Categorization:
By Nature:
- Organic
- Monoprotein
- Conventional
By Source:
- Animal Derived
- Fish
- Chicken
- Duck
- Beef
- Pork
- Venison/Game
- Lamb
- Turkey
- Plant Derived
- Insect Derived
- Crickets
- Mealworms
- Black soldier flies
By Product Type:
- Kibble/Dry
- Extruded
- Baked
- Coated
- Treats and Chews
- Pastes
- Cremes / Cream-Snacks
- Crunchy snacks
- Chew sticks
- Tablets
- Biscuits
- Cat Milk / Milk snacks
- Dehydrated Food
- Freeze-dried Food
- Freeze-dried Raw
- Wet Food
- Frozen
- Raw Food
- Powder
By Pet Type:
- Kitten
- Senior
By Packaging Type:
- Pouches
- Bags
- Folding cartons
- Tubs & Cups
- Can
- Bottles & jars
By Distribution Channel:
- Store-based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Mom and Pop Stores
- Pet Stores
- Discounters
- Independent Grocery Retailers
- Drugstores
- Other Retail Formats
- Online Retailers
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Nature
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Nature, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Nature, 2023 to 2033
5.3.1. Organic
5.3.2. Monoprotein
5.3.3. Conventional
5.4. Y-o-Y Growth Trend Analysis By Nature, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Nature, 2023 to 2033
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Explore FMI’s Extensive Coverage in Food & Beverage Domain:
Pet Food Market Size: The global pet food market industry size is expected to reach US$ 1,17,691.2 million in 2023. During the forecast period 2023 to 2033, global pet food sales are likely to soar at 6.4% CAGR.
Frozen Pet Food Market Share: The global frozen pet food market is expected to reach a market valuation of US$ 14 Billion by 2022, with demand increasing at a CAGR of 5.1% over the assessment period.
Fish Based Pet Food Market Trend: The fish-based pet food market is capturing a valuation of US$ 1.4 billion in 2023 and is predicted to reach US$ 16.7 billion by 2033.
Natural Pet Food Market Analysis: The global natural pet food market is expected to reach a valuation of US$ 13.4 Billion by 2022, accelerating at a CAGR of 4.8% during 2022 to 2032.
Grain-Free Pet Food Market Value: The grain-free pet food market is expected to record a CAGR of 6.4% during the forecast period 2022 to 2032, up from US$ 38.6 Billion in the year 2022 to reach a valuation of US$ 53.2 Billion by 2032.
Dehydrated Pet Food Market Sale: The dehydrated pet food market is capturing a valuation of US$ 8.9 billion in 2023 and is predicted to reach US$ 14.2 billion by 2033.
Wet Pet Food Market Forecast: The overall demand for wet pet food is poised to grow at a steady CAGR of 5.3% between 2022 and 2032, totaling a market valuation of US$ 36 Billion by 2032.
Plant-based Pet Food Market Growth: The global plant-based pet food market is set to expand its roots in the global market at a promising CAGR of 9.2%, while the market is anticipated to hold a revenue of US$ 57.43 Billion in 2032.
Organic Pet Food Market Demand: As per the report, sales of organic pet food are projected to increase at a healthy CAGR of 7.4% during the forecast period, reaching US$ 4.0 Billion by 2032.
Dog Food Market Overview: Future Market Insights (FMI) estimates that the global sales of dog food is likely to have a valuation of US$ 81,224.9 million by 2033, growing at a CAGR of 6% over that period.
About Future Market Insights (FMI):
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