Global cat food and snacks market size is majorly driven by increasing trend of humanization by the pet owners. The global pet care business generated revenue close to $90 billion in 2013 and surpassed $115 billion in 2018, with growth close to 5% over the past five years.
Besides, pet food accounts for approximately 70% of the overall revenue generated by pet care business. Thus, humanization of pets will subsequently boost cat food and snacks market size by 2025. Cat Food and Snacks Market size will surpass $38 billion by 2025; according to a new research report by Global Market Insights.
Owners are providing special products to their pets which the taste of their own foods along with providing special health benefits. This trend is expected to continue and anticipated to boost the global cat food and snacks market during the forecast time period. Increasing awareness in pet owners in Asia Pacific and Latin America about the health and diet of their pet will have positive effect on the cat food and snacks market during the forecast period.
Stringent regulations and standards prescribed by the different regulatory bodies such as US FDA are the key restraining factors for the growth of cat food and snacks market over the forecast period. For instance, according to the laws of U.S. pet food must have to meet the USFDA as well as state requirements. The different regulations cover finished pet food products as well as the ingredients used in these products.
Cat food and snacks has been divided into two types such as food and treat & mixers. Cat food accounted for largest chunk in the business and generated revenue more than $27 billion in 2018. Dry food and wet food are the two different types of cat food among which the wet food market is expected to grow at a highest rate owing to more preference of cats to wet food than the dry food. Dry food is made up of different types of grains such as cornmeal and rice which generally contains a large amount of carbohydrates which cats can not digest easily as they can’t produce enzymes necessary for the production of the carbohydrates.
Some cat food even contains proteins from vegetables rather than the meat which is also not good for cats. While wet cat food is made up of meat and fish as a primary ingredient which is better suited for the dietary needs of cats and have high market demand as compared to other types of cat food. Cat treats and mixers are natural and grain free products which are used as topper or appetizer and are used in cats with different health problems such as gastrointestinal disorder, overweight, allergies, diabetes, etc.
Cat food and snacks market is also segmented depending upon the distribution channel which mainly includes specialized pet food shops, supermarkets/hypermarkets, online sellers and others. Others’ segment of distribution channel consists of convenience stores, pharmacies, etc. Supermarkets/hypermarkets distribute cat snacks and food with variety of product brands and categories and thus recorded highest revenue share more than 35% in 2018. This channel is widely preferred in developed economies and is exhibiting decent penetration in developing economies as it offers a widespread market space, where customer can buy pet food along with their monthly groceries. Thus, among all these channels, supermarkets or hypermarkets distribution has highest sell which is followed by the specialized food products. While online channel is also witnessing a significant growth rate over the past few years and is expected to grow significantly during the forecast period. Online sellers of the cat food and snacks provide
variety of snacks and food products for cat through online channels at a very competitive price.
At present, Europe is the leader in the cat food and snacks market accounted for more than 40% of the overall demand and further expected to grow in a future with a CAGR of over 4.5%.
United Kingdom is the major growth contributor in the European cat food and snacks market. Asia Pacific is the fastest growing region for the cat food and snacks market owing to the increasing humanization and increased trend of having pet animal along with increased consumer spending.
Global cat food and snacks market is highly competitive due to the presence of different small, medium and large scale manufactures in the market. Major players in the market include Mars Inc., Nestle, Colgate-Palmolive, The J.M. Smucker Company, Schell & Kampeter, Inc., General Mills, Inc, Spectrum Brands., Blue Buffalo Pet Products Inc, Beaphar, WellPet LLC, Diamond Pet Foods, PetGuard, Harringtons, etc. Major players in the market are engaged in the development of new products and expansion of their production capacity. For instance, In July 2017, Mars Petcare has launched ‘Crave’ a new brand of High-protein dog and cat food catering to pet’s instinctual desires. This new product will contribute in increasing product portfolio and revenue of the company.
By Lindsay Beaton
This country is straddling the line between developing and developed as more of its citizens see the value in pet ownership.
By Lindsay Beaton