Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "Cat Food Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global cat food market, having demonstrated a robust performance in recent years, continues to embark on an upward trajectory, with projections revealing its anticipated expansion from $21.9 billion in 2023 to an impressive $30.6 billion by 2028.
This progression is at a steadfast compound annual growth rate (CAGR) of 6.9%.Underpinning the cat food market's growth are pivotal trends such as the popularization of grain-free and specialty diets, the shift towards sustainable and organic ingredients, and advanced nutrition-packed offerings. The rise in pet ownership, coupled with the heightened concern for pet well-being among consumers, plays a fundamental role in propelling the industry forward.
The influence of pet humanization—perceiving and treating pets as members of the family—and veterinary advice also enhance consumer demand for premium cat food products. Additionally, cat food manufacturers are heavily investing in e-commerce, which has emerged as a significant sales channel, especially in the advent of a more digital-centric consumer base.
Notable Market Influencers
- E-commerce Growth: The shift towards online shopping has remarkably influenced the cat food market. The convenience and growing preference for purchasing pet food online is reflected by the surge in e-commerce platform utilization.
- Focus on Health and Wellness: Pet owners are more attuned to the health and dietary needs of their feline friends, catalyzing the demand for functional, high-quality animal feed with natural ingredients.
- Product Innovation: Tailored nutrition and unique formulations stand at the forefront of new product launches, aiming to meet specific dietary requirements and preferences.
With these emerging patterns, the cat food market is diversifying, offering a myriad of products ranging from traditional kibble to gourmet wet foods, specialized snacks, and functional treats. The industry sees a higher propensity for manufacturers to delve into research and product innovation, ensuring that the physiological and palatable needs of cats are rigorously catered to.
Geographical Expansion Regional Dominance and Potential Growth Areas
North America currently leads the global landscape as the most significant region in cat food production and consumption. All geographical areas, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, have been thoroughly examined in this extensive report.
The flourishing cat food market is characterized by its different categories, including dry food, known for nutritional concentration and convenience, and wet food, which is gaining popularity for its high moisture content mirroring a natural diet. Treats and snacks also form a significant sector, with innovative delights continuously entering the market.
As the market trends evolve, the report provides an in-depth analysis of the cat food industry, covering key players, regional market shares, and forward-thinking insights. The comprehensive data presented aims at equipping key stakeholders with pertinent information tailored to aid strategic decision-making. The report elegantly lays out the market's future, helping businesses navigate anticipated challenges and capitalize on emergent opportunities.
The cat food market faces a dynamic future, replete with opportunities for existing companies and new entrants alike. A deeper understanding of the market through this detailed report provides businesses with the tools needed to innovate, thrive, and stay ahead in a competitive landscape.
A selection of companies mentioned in this report includes
- 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
For more information about this report visit https://www.researchandmarkets.com/r/9txex7
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