Cat Food Market Size, Share & Trends Analysis Report By Type (Wet Food, Dry Food, Treats), By Distribution Channel (Online, Supermarkets & Hypermarkets), By Region, And Segment Forecasts, 2023 - 2030

Cat Food Market Size, Share & Trends Analysis Report By Type (Wet Food, Dry Food, Treats), By Distribution Channel (Online, Supermarkets & Hypermarkets), By Region, And Segment Forecasts, 2023 - 2030

Cat Food Market Growth & Trends

The global cat food market size is expected to reach USD 44.32 billion by 2030, growing at a CAGR of 4.4% during the forecast period, as per a new report by Grand View Research, Inc. This is attributable to the increasing pet ownership, growing health and wellness concerns, and growing product innovation and diversity worldwide. The market has seen continuous product innovation, with manufacturers introducing new flavors, formulations, and formats to cater to diverse consumer preferences and requirements. Grain-free, limited ingredient diets, and natural or organic cat food options have gained popularity. Additionally, there has been an expansion in the availability of specialized diets, such as hypoallergenic or weight management cat food resulting in an increase in demand for the product over the period.

A large proportion of individuals consider their pets to be part of their family, and cats are the second most popular pets after dogs. Many individuals who reside in small apartments prefer smaller pets that suit their lifestyle. With more people opting out of having children, there is a growing trend of using pets as a substitute, leading to a flourishing industry that caters to pampered pets. Additionally, the increasing number of elderly couples, dual-income households with no children, and a surge in disposable income are the primary drivers of cat adoption worldwide.

The implementation of lockdown measures as a result of the COVID-19 pandemic had adverse effects on the manufacturing capabilities of multiple players in several countries across the globe. However, the lengthy shelf life of cat food items, which can range widely from four months to over a year, enabled manufacturers to continue selling their products from existing stock despite production constraints. Thus, all these factors resulted in growth in product demand even during the pandemic.

Cat Food Market Report Highlights

• The market is estimated to advance at a CAGR of 4.4% from 2023 to 2030. This is attributed to the increase in pet obesity, the rise of nuclear families, the humanization of pets, growing awareness of pet health, and regulatory limitations on pet food manufacturing
• The dry food type segment is anticipated to grow at a CAGR of 4.4% from 2023 to 2030. This is attributed to its long shelf life. Due to its low moisture content, dry food is less likely to spoil or attract pests, which means that it can be stored for a longer period without issue
• The online distribution channels segment is expected to witness significant growth from 2023 to 2030. This is attributed to convenient, simple, and efficient ways to access high-quality products. Online stores offer a range of options for pet owners, including premium and specialty cat food brands that may not be available in traditional retail stores
• Asia Pacific is expected to emerge as the fastest-growing region with a CAGR of 5.2% from 2023 to 2030. This is attributed to the growth in disposable income and rapid urbanization. Furthermore, the shift toward smaller households may also contribute to the rise of pet ownership including cats in Asia Pacific, as pets provide companionship and emotional support to individuals
• Moreover, companies are involved in mergers, acquisitions, and product innovations to cater to the market. For instance, in 2022, Diamond Pet Foods announced the completion of its new manufacturing and distributing unit in Rushville, Indiana with an investment of USD 260 million by 2024

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