The European cat food market value surpassed USD 14 billion in 2018 and is expected to grow at 5% CAGR during the forecast period.
— United Kingdom is the major growth contributor in the European cat food 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.
Major players in the global cat food 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.
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Cat food and snacks are distributed through different distribution channels including specialized supermarkets/hypermarkets, pet food shops, online sellers and others. Other type of distribution channels includes pharmacies, convenience stores, etc. Supermarket or hypermarket is highly preferable distribution channel and expected to grow rapidly during the forecast period owing to the fact that it offers customer a large market space which enables customer to buy their pet food along with their monthly groceries. This channel has high sale and extensively preferred by the developed countries and is also penetrating in the developing economies such as China and India.
The overall Cat Food Market is expected to surpass USD 38,000 million by 2025; according to a new research report by Global Market Insights, Inc. Global market size is majorly driven by increasing trend of humanization by the pet owners. The global pet care business generated revenue close to USD 90 billion in 2013 and surpassed USD 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.
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 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 treat and mixers are grain free products available in pouch, can, beef jerky, sausage, chicken ribs, chicken breast, etc. These products are used as appetizer or topper for cats with different health problems which mainly include gastrointestinal disorder, diabetes, allergies, overweight, etc. Therefore, cat treats and mixers market are expected to grow exponentially owing to increasing awareness about the health and dietary requirements of the pet in pet owners in the forthcoming years.
Cat food market is bifurcated into food and treat & mixers, of which food is further divided into dry and wet food. Dry cat food is made of different types of food grains while wet cat food is made of meat and fish as primary ingredients. Wet cat food market is expected to witness high growth during the forecast timeframe as cats prefer wet food as compared to dry food, since they cannot produce enzymes necessary for the digestion of carbohydrates present in the dry food.
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Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Release ID: 513264