April 08, 2020
As per the report titled ‘Cat Food And Snacks Market Size By Type, By Distribution Channels, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report LLC, the global cat food and snacks market is projected to cross USD 38 billion by the year 2025.
Growing trend of pet humanization is a major driving factor of cat food and snacks market. Increasing inclination of pet owners to provide their pets with food products with high nutritional value, coupled with surging pet population in developing nations and rising consumer expenditure on pet food will augment the market growth in the years to come. Growing awareness towards health and dietary requirements of pets, especially in developed countries such as U.S., UK, and South Korea is boosting the demand for special dietary products, thereby rendering a positive impact on the market growth. However, stringent norms laid by national and international regulatory authorities regarding the quality of pet food may hamper the market growth in the coming years.
Based on the type, cat food and snacks market is categorized into food and treat & mixers, in which the former is further segmented into dry food and wet food. Wet cat food segment is expected to grow significantly over the forecast timeline as cats have a higher preference towards wet food as compared to dry food.
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On the other hand, treat & mixers segment is anticipated to grow momentously during the study period, as these products act as a topper or appetizer for cats to combat various health problems such as diabetes, gastrointestinal disorder, allergies, and obesity. Growing awareness regarding specific dietary needs of pets will augment the segment growth.
Speaking of the distribution channels, cat food and snacks market is bifurcated into specialized pet food shops, supermarkets/hypermarkets, and online channels. Supermarkets/hypermarket segment is registering a rapid growth, on account of easy product availability alongside consumers convenience for buying pet food products on their grocery shopping routines.
Considering the geographical outlook, Europe cat food and snacks market was worth over USD 14 billion in 2018 and is projected to grow with a CAGR of 5% during 2019-2025. Increasing product demand from UK, France, Germany, and Spain is driving the regional market growth.
Major players of cat food and snacks market include Colgate-Palmolive, The J.M. Smucker Company, Nestle, Spectrum Brands, Mars Inc., General Mills, Inc., and Schell & Kampeter, Inc.
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