- Cats need appropriate amount of and well balanced food every day for healthy growth, just like human beings. Cats require specific minerals and vitamins, especially calcium, Vitamin A, and niacin. These nutrients are not available in sufficient quantity in foods such as cheese and bone marrow or sweet sugary substances given to the cats by the owners. Cat food and treats fulfill these requirements.
- The global cat food and treats market is anticipated to expand at a rapid pace during the forecast period owing to increasing adoption of cats across the globe. Increasing disposable income and growing awareness about pet health and wellness is also anticipated to increase the demand for the products.
Key Drivers of the Global Cat Food and Treats Market
- Increasing adoption of pets, especially cats, is anticipated to boost the demand for cat food and treats across the globe. Rising income is encouraging middle and upper middle class people to adopt cats as pets, which is a supportive factor for the growth of the cat food and treats market.
- The growing popularity of cat foods highlights the increasing consciousness about cat health by cat owners and the growing importance of cats in people’s lives.
- Companies operating in the global cat food and treats market are investing to expand their product portfolios and improve their distribution networks. They have adopted strategies such as product marketing, geographical expansion, and development of new products to cater to the increasing demand for cat food and treats in different regions. For instance, during June 2018, Mars, Incorporated acquired the Linnaeus Group to improve its position as a leading veterinary provider across the United Kingdom.
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Cat Food and Treats Market to Offer Attractive Opportunities
- Growing disposable income and adoption of cats is encouraging cat food manufacturers to expand their product portfolio to cater to the growing demand across the globe. People prefer premium products for better quality, which is also a supportive factor driving growth in the cat food and treats market.
- Dry food is less expensive compared to other types of foods and has long shelf life. It is anticipated to show significant demand in the coming years. Buyers are focusing on products which are locally grown or natural, and have digestive benefits. This factor is anticipated to create lucrative opportunity for domestic manufacturers during the forecast period.
Increasing Number of Counterfeit Products Anticipated to Hamper the Market
- The major challenge faced by cat food and treats manufacturers is the growing counterfeit products in the global market in recent years. Presence of counterfeit products is expected to negatively impact the cat food and treats market and the health of cats. This factor is likely to hamper the cat food and treats market in the coming years.
Asia Pacific to Hold Major Share of the Global Cat Food and Treats Market
- Asia Pacific is expected to be the fastest growing market for cat food and treats during the forecast period owing to increasing demand from Australia, Japan, China, and India, along with more focus on overall cat health. Increasing pet adoption by nuclear families is anticipated to drive regional markets such as India, China, and Japan.
- North America and Europe have dominated the market and are anticipated to retain their share in the coming years. Growing pet ownership and pet humanization, increasing number of premium store brands, and urbanization are some of the major driving factors encouraging the growth of the North American and European cat food and treats market.
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Key Players Operating in the Global Market
The global cat food and treats market is highly concentrated with top manufacturers accounting for approximately 20%–25% of the market share. A few of the key players operating in the global cat food and treats market are listed below:
- Altuglas International (Arkema Group)
- Blue Buffalo Company
- Canidae Natural Pet Food Company
- Diamond Pet Foods
- Hill’s Pet Nutrition
- Mars Petcare
- Nestle Purina PetCare Company
- Nutriara Alimentos Ltd
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