$30+ Billion Cat Food Market - Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 6, 2018--The “Cat Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023” report has been added to ResearchAndMarkets.com’s offering.
The global cat food market was worth US$ 30.9 Billion in 2017. The market is further projected to reach US$ 36.2 Billion by 2023, growing at a CAGR of 2.6% during 2018-2023.
Although owners usually feed their cats with milk and home-made food, the demand for specific food is increasing as it provides essential nutrients for maintaining the weight and energy requirements of the cats. In addition, commercially available cat food also helps in combating skin allergies and infections as well as improving the overall health and life expectancy of cats. On the other hand, the demand for premium cat food is rising among the owners of pedigree breeds which are often viewed as status symbols.
Global Cat Food Market Drivers/Constraints:The growing trend of nuclear families is giving rise to pet humanisation, thereby increasing the adoption of cats particularly among the young population. This has created a huge demand for cat food worldwide. The rising awareness among cat owners regarding the benefits of nutritional diversification has encouraged them to opt for products that are specifically made for the breed of their cat so as to improve their quality of life and to provide the optimum amounts of nutrients. The manufacturers are focussing on providing a wide variety of premium cat food products ranging from organic and natural to gluten- and cereal-free variants. This is projected to expand the consumer-base, thereby, providing a positive thrust to the market globally. The introduction of convenient cat food packaging in stand-up pouches, re-closable bags, single-serve pouches, bags with handles, etc. has impelled the growth of the cat food market across the globe.
Some of the leading players operating in the market are:Mars, Inc. Del Monte Foods, Inc. The Colgate-Palmolive Company Nestle Purina PetCare Company The Procter & Gamble Company Blue Buffalo Co., Ltd. CANIDAE Pet Foods
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Related Topics:Pet Food
INDUSTRY KEYWORD: RETAIL SPECIALTY CONSUMER PETS
SOURCE: Research and Markets
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PUB: 11/06/2018 11:21 AM/DISC: 11/06/2018 11:21 AM