Following global trends, the U.S. cat food market has grown in step with rising pet cat populations. Cat ownership reached 39% of U.S. households in 2025, representing approximately 53 million households, an 8.2% increase from the previous year, reported the American Pet Products Association. Analysts with investment bank Cascadia Capital used that data in their summer 2026 report. Those analysts attributed much of that cat ownership growth to Millennials and Generation Z, whose adoption rates outpaced older generations.
While dogs still account for the majority of pet food spending, industry observers increasingly view the cat category as one of the pet industry's strongest long-term growth opportunities.
"The pet industry has entered its 'Cat Era,'" Cascadia analysts wrote, citing accelerating ownership, expanding premium product offerings and increasing acquisition activity.
Demographic trends favor cats
It’s been said before but worth repeating that human demographic trends drive pet demographic shifts. Worldwide, and the U.S. is no exception, urban living, smaller residences and rental housing make cats a lower maintenance option for younger consumers who may not have the space or schedule to own dogs.
At the other ed of the age range, older pet owners may increasingly choose cats over dogs for many of the same reasons. Meanwhile, social media platforms and oh-so-many memes reinforce their cultural popularity of kittehz, and raise their visibility of cats available for adoption.
These trends lead naturally to higher spending. Cascadia estimates U.S. cat food and treat sales reached approximately US$18.4 billion in 2025, an increase of roughly 11% from the previous year.
Premiumization continues across cat nutrition
Much of the category's growth is occurring in premium products.
Unlike the dog food market, where dry food remains dominant, wet food continues gaining traction among cat owners. According to the report, wet cat food usage increased from 57% of cat-owning households in 2019 to 63% in 2025. Sales growth has also been strongest in premium and super-premium price tiers.
Nevertheless, Cascadia’s analysts characterized the cat category as commercially underdeveloped compared with dog food, with fewer brands, less innovation and lower competitive intensity. Likewise, fresh cat food remains in the early stages of development compared with the more established fresh dog food segment.
Cascadia identified Smalls as an early leader in direct-to-consumer fresh cat food and notes that investors increasingly view the company as a benchmark for evaluating the category's potential. Premium shelf-stable brands, including Weruva and Made by Nacho, are also attracting attention as companies expand their cat portfolios.
Mergers and acquisitions expand cat portfolios
Growing consumer demand is influencing merger and acquisition activity.
Several recent transactions demonstrate strategic interest in cat-focused brands. General Mills acquired Whitebridge Pet Brands, owner of the Tiki Cat brand, in 2024, while Partners Group acquired MPM Products in 2025. Earlier this year, I and Love and You acquired Made by Nacho.
At the same time, manufacturers face a different competitive landscape than in dog food. While dog nutrition remains a larger market, Cascadia’s analysts noted that the cat category offers comparatively lower competitive saturation and additional room for premium brand development.
