|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The cat food market is projected to register a CAGR of 4.3% during the forecast period (2021-2026). The imposition of the lockdown restriction affected the production facilities of several players around the world. The storage capacity of cat food for a specified period acted as a shield from the destruction of existing stocks in the companies. The American Pet Products Association (APPA) recently published the second phase of its ongoing report, 'COVID-19 Pulse Study of Pet Ownership During the Pandemic,' mentioning little to no changes in purchasing behavior and economic sentiments among pet owners in the United States.
Additionally, pet ownership and purchasing behavior have been largely unchanged from May to June of 2020. As per the APPA report, there was no significant change in pet owners being financially cautious about their pet product spending, with a majority (64.0%) spending the same amount from May to June.
There has been an increase in pet adoption amid COVID-19, and this increase has occurred across pet types, especially cats. Therefore, with the surge in the cat population, the demand for pet food products for cats is anticipated to increase in the market.
Cats are the second-largest consumers of pet food. They are considered obligate carnivores and require high-quality proteins and meat-predominant amino acids. Though carbohydrates are not mandatory in their diet, they can be utilized if properly cooked. Most of the dietary carbohydrates come from grains and, to a limited degree, tubers. Cats have an elevated requirement for sulfuric amino acids, like methionine, and a dietary requirement for the amino sulfone, taurine. Thus, the specific requirements of cats have enabled specialization in the industry by the companies through increased investments.
Scope of the Report
The cat food market is segmented by product (dry cat food, wet cat food, veterinary diet, treats/snacks, and organic products), ingredient type (animal-derived, plant-derived, cereal and cereal by-products, and other ingredient types), sales channel (specialized pet shop, internet sales, hypermarkets/supermarkets, and other sales channels), pricing type (economy segment, premium segment, and super-premium segment), and geography (North America, Europe, Asia Pacific, South America, and Middle-East and Africa).
|By Product Type|
|Dry Cat Food|
|Wet Cat Food|
|By Ingredient Type|
|Cereals and Cereal By-products|
|Other Ingredient Types|
|By Sales Channel|
|Specialized Pet Shops|
|Other Sales Channels|
|By Pricing Type|
Key Market Trends
Increasing Emphasis on Balancing Dry and Wet Cat Food
The disparity between the sales of wet and dry cat food is less noticeable compared to dog food. As cats consume very less water, veterinarians and other cat experts recommend that wet food should be served at least once a day to provide hydration and prevent urinary infections. On the other hand, dry cat food is purchased, as it is comparatively cheaper and provides greater convenience. It is also good for cats' dental health. Hence, cat owners are recommended to purchase both dry and wet cat food and provide them with an optimum balance. One of the key trends driving the cat food market is increased concern over the health and hygiene of the cats. The young generation, especially millennials, has become very cautious when selecting food for cats. As millennials tend to prefer online purchases, it becomes easier to compare among different products. Similarly, this trend of making hygiene a central factor for selecting a particular product has encouraged pet owners to prefer limited ingredient diets, which have proven to be vital to keep allergies at bay.
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Asia Pacific is the Fastest Growing Market
Increasing pet humanization and cat ownership, emerging private label store brands, and growing urbanization are some of the major forces propelling the growth of the Asia Pacific cat food market. The cat population is increasing rapidly, as an increasing number of people are adopting pets, considering them for companionship and security. In urban regions, it is also seen as a status symbol. The space constraints in countries, like Japan and China, coupled with the fast-paced lifestyle of pet owners, have increased the adoption of cats. The rising population of millennials in the region with high disposable income has also prompted the adoption of cats due to the low maintenance required for cats compared to dogs. The low occurrence of diseases among cats has also attracted several pet owners with limited income. Companies are investing heavily in product innovation and other strategic partnerships to expand in the region due to the higher rate of adoption of cats. Pet owners are also concentrating on providing specific cat food to consumers to reduce the risk of diseases among pets. Thus, there is a rise in the adoption of cats in the Asia Pacific region, making it the fastest-growing market.
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The cat food market is consolidated, with major global players occupying large market shares and competing fiercely with local players and private labels. The market consists of prominent players, like Mars Inc., Hills Pet Nutrition, Nestle Purina Petcare, and Blue Buffalo. Consisting heavily of large multinational players, the market also houses many private-label players. Apart from the presence of a loyal customer base, the major players in the market benefit from substantial marketing and innovation capacities. Product innovation is one of the major strategies adopted by companies and launches new innovative pet food products that cater to the needs of the wide range of pet owners in the market.
- In February 2020, Nestle Purina expanded its Clinton, Iowa factory. The USD 140 million (CHF 138 million) investment is expected to allow Purina to meet growing demand from pet owners for nutritious, science-based dog and cat foods using high-quality and trusted ingredients.
- In May 2018, JM Smucker Company acquired Ainsworth Pet Nutrition LLC, a marketer and distributor of pet snacks for USD 747 million. The acquisition has strengthened the company's position in the dog and cat snacks segment with the presence of brand, Rachel Ray Nutrish, in fast-growth segments, including natural meats and long-lasting chews.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Dry Cat Food
5.1.2 Wet Cat Food
5.1.3 Veterinary Diets
5.1.5 Organic Products
5.2 By Ingredient Type
5.2.3 Cereals and Cereal By-products
5.2.4 Other Ingredient Types
5.3 By Sales Channel
5.3.1 Specialized Pet Shops
5.3.2 Internet Sales
5.3.4 Other Sales Channels
5.4 By Pricing Type
5.4.1 Economy Segment
5.4.2 Premium Segment
5.4.3 Super-premium Segment
5.5 By Geography
5.5.1 North America
18.104.22.168 United States
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.5.3 Asia Pacific
184.108.40.206 Rest of Asia Pacific
5.5.4 South America
220.127.116.11 Rest of South America
5.5.5 Middle-East and Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars Inc.
6.3.2 Nestle Purina PetCare Company
6.3.3 Hill's Pet Nutrition
6.3.4 Blue Buffalo Company
6.3.5 Canidae Natural Pet Food Company
6.3.6 The JM Smucker Company
6.3.9 Diamond Pet Foods
6.3.12 Royal Canin
6.3.13 Nutriara Alimentos Ltda
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Cat Food Market market is studied from 2016 - 2026.
What is the growth rate of Cat Food Market?
The Cat Food Market is growing at a CAGR of 4.3% over the next 5 years.
Which region has highest growth rate in Cat Food Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Cat Food Market?
Europe holds highest share in 2020.
Who are the key players in Cat Food Market?
Mars Petcare, Nestle Purina PetCare Company, Hill's Pet Nutrition, Blue Buffalo Company, Canidae Natural Pet Food Company are the major companies operating in Cat Food Market.