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According to the latest report by IMARC Group, titled “Cat Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global cat food market reached a value of US$ 33.42 Billion in 2021. Cats are considered naturally independent animals and require minimal supervision. Owing to this, they have proven to be an ideal pet for people who reside in smaller spaces or lead a busy lifestyle. As cats are obligate-carnivorous animals, they mostly rely on animal-based products for optimal health. On account of this, cat food majorly includes animal proteins including taurine and arginine along with essential fatty acids, fiber, lipo- and hydro-soluble vitamins, and minerals such as sodium, magnesium, iodine, zinc, iron, etc. In the near future, cat adoption in developed regions is expected to increase which will give a boost to the overall cat food sales.
Cat Food Market Trends:
Nowadays, cat owners are more aware about the health and wellness of their cats on account of which they take note of the ingredients in cat food and are shifting towards good-quality products. This is one of the primary factors which is driving the growth of the cat food market. In addition, manufacturers are introducing innovative cat food products in terms of flavors, colors, and packaging sizes. These innovations cater to the rising demand for different varieties of cat food and treats, in turn, propelling the market growth. Apart from this, premium cat food is expected to gain traction over the forecast period on account of an increase in urbanization and disposable incomes across the globe. However, the availability of homemade and raw cat food poses a significant threat to the growth of the global cat food market, particularly in the emerging regions. Looking forward, the market is projected to reach a value of US$ 41.56 Billion by 2027, registering at a CAGR of 3.53% during 2022-2027.
Cat Food Market Summary:
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