Cat Food and Snacks Market size to exceed $44.89bn by 2027
Published Date: June 16, 2021 Authors: Kiran Pulidindi, Hemant Pandey
Cat Food and Snacks Market Size is forecast to exceed USD 44.89 billion by 2027, according to a new research report by Global Market Insights Inc.
The cat food and snacks industry is projected to witness a significant growth in the upcoming years owing to the rapid increasing pet ownership around the world. In developed countries with the aging population, consumers are looking at pets for companionship while younger children are staying single or childless for extended periods of time. In developing countries, improving socio-economic factor makes it easier for a vast majority of households to own a pet.
Cat food includes all dry & wet commercially packaged food products manufactured for the consumption of pet cats while cat snacks include cat mixers & treats available in cans & pouches such as beef jerky, chicken ribs, chicken breast, and sausages. The increased consumer spending on pet food by pet owners is providing premium and low carbohydrate food to their pets, boosting the global market outlook. Pet owners are providing special products that taste like human food with special health benefits to their pets. This trend is expected to continue and boost the global cat food and snacks market demand during the forecast time period.
Cat owners are concerned about their pet health over the last few years on account of various difficulties including obesity. Health problem, such as diabetes, high blood pressure, and arthritis, are growing among cats, causing discomfort and pain for cat. The owners are strictly switching to low-calorie and high-nutrition food products to maintain their health condition. The FDA ensures that the ingredients used in cat food are properly enlisted on labels based on the weight. It also claims that cat food maintains urinary tract health, is of low magnesium, and does not cause hair fall. The growing awareness regarding cat health is expected to boost the demand for cat food and snacks market over the projected period of time.
Browse key industry insights spread across 194 pages with 148 market data tables & 21 figures & charts from the report, “Cat Food and Snacks Market Statistics by Type (Food [Dry, Wet], Treats & Mixers), Distribution Channels (Specialized Pet Food Shops, Supermarkets/Hypermarkets, Online), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The food segment dominated the global cat food and snacks market and is projected to grow at a CAGR of over 4% through 2027. According to the National Pet Survey conducted by the American Pet Products Association (APPA), the total cat population in the U.S. was around 94 million in 2017. Another factor fueling the demand for cat food is the changing customers trends toward healthy & nutritional foods. Cats generally have higher requirements for proteins and lesser for carbohydrates. Cat wet food is usually based on the animal protein sources such as fish and chicken. Various flavors and extracts are extracted from animal sources through the process of roasting, extraction, or fermentation.
Rising sales of cat food and snacks products through online distribution channels
The cat food and snacks market is segmented into distribution channels including supermarkets/hypermarkets, specialized pet food shops, online, and others. The supermarkets/hypermarkets segment dominated the global market and is projected to grow at a CAGR of over 4.3% through 2027. The distribution channel of others segment includes convenience stores and pharmacies. The online channels are also witnessing a significant growth rate over the past few years and will grow significantly during the forecast period. Online sellers of cat food provide a variety of snacks and food products for cats through online channels at a very competitive price.
European industry to exhibit a promising gain until 2027
Europe cat food and snacks market held the largest market share of around 43% in 2020 and is projected to register over 3.3% CAGR during the assessment period. The European market is majorly driven by the robust product demand for different types of cats. The rising consumer awareness regarding organic & natural pet food products has caused producers to change their focus from synthetic to natural products, which is one of the major factors influencing the market statistics.
Some of the top players in the cat food and snacks market include Nestle, Schell & Kampeter, Inc., Food sand Harringtons, Mars Inc., WellPet LLC, The J.M. Smucker Company, Colgate-Palmolive, Beaphar, PetGuard, Spectrum Brands, General Mills, Blue Buffalo Pet Products Inc, and Diamond Pet.