Reports and Insights (R&I) has published a new report titled, “Cat Food Market: Opportunity Analysis and Future Assessment 2020-2028”
Global Cat Food Market, By Product Type (Dry Cat Food, Cat Treats, Wet Cat Food), By Pricing (Mass Products, Premium Products), By Ingredient Type (Animal Derivatives, Plant Derivatives), By Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Stores, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global cat food market is estimated to reach at a value of US$ 6.4 Bn by the end of 2020 and expected to reach at a value of US$ 10.0 Bn by 2028 with a significant CAGR of 5.7%
It might be an extremely difficult decision about whether to get a dog or cat, when deciding to get a pet. However, cats are making up for a much better pet, nowadays, in comparison to dogs owing to their various beneficial qualities, including easy to care, hygiene, as well as their lovely antics. Such factors are rapidly impelling the growth of the global cat food market.
Generally, pets like dog and cat are fed milk and home-cooked meals only, including meal leftovers and scraps in households, but companion animals, such as dogs and cats, have special requirements for essential minerals that should necessarily be supplied in their food. Owing to which, the commercially-prepared pet food is gaining enormous traction in the global markets, thus projected to positively fuel the growth of the global cat food market over the forecast period.
Other than that, there is a surging trend of nuclear families and owning a pet along with pet humanization, in the present times, which is further elevating the adoption of pets across the world. Attributing to which, cat food is observing heavy demand in the global market, which in turn is projected to boost the growth of the global cat food market in the forthcoming years.
In other respects, pet owners have become more conscious about what they are feeding to their companion pets and deliberately choosing nutritional commercially prepared food along with additional appetizing treats, which is also playing a positive role in escalating the demand of cat food in the global markets, as a result of which the global cat food market is expected to grow briskly over the forecast period.
In addition to that, the key players of the market are also focused on making their products more nutritious, delicious as well as attractive. They are also aiming their attention at broadening their product portfolio via introducing a wide range of premium pet food items, including natural, organic, as well as gluten-free alternatives. Such factors are also accelerating the demand of cat food in the global market.
R&I Study identifies some of the key participating players in the cat food market globally are Mars Petcare, The J.M. Smucker Company (Big Heart Pet Brands), Colgate-Palmolive (Hill's Pet Nutrition Inc.), Nestle Purina PetCare, Blue Buffalo Co., Ltd., CANIDAE Pet Foods, among others.
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