Future Market Insights (FMI) has provided a detailed analysis of growth drivers and factors restricting expansion of its global cat food market survey. The study also covers growth trends across various sectors including product type, age, distribution channel and packaging, with finished bag packaging emerging as the latest trend.
Dubai, The United Arab Emirates, August 10, 2021 /PRNewswire/ — The growing demand for vegan, nutrient-rich pet foods has boosted sales of vegan cat foods. According to ESOMAR Future Market Insights (FMI) certified consultancy, the global market for plant-based cat foods is expected to exceed 10,560.40 Million USD in 2021.
Growing concerns about pet health are driving the demand for meatless pet food alternatives. This trend is encouraging pet food producers to incorporate plant-based formulas such as pea protein into their cat food products. As a result, FMI expects the vegan cat food market to expand at a positive 7.2% compound annual growth rate (CAGR) through 2031.
The spread of plant-based diets around the world has increased sales of vegan cat food. Transparent ingredient lists are very popular in human foods and this trend has proven important in shaping pet owners’ preference for quality nutrients in pet foods as well. Thus, the focus on product development in plant-based foods, treats and wet foods is all-time high, creating sales opportunities in vegan cat food.
The overall rise in pet ownership and per capita spending on pet food are major factors providing a tailwind to vegan cat food sales. Unique processing technologies, reusable packaging such as pouches, stand up pouches, and product certifications will remain key variables influencing sales of vegan cat food.
According to FMI regional analysis, the US is expected to dominate the vegetarian cat food market 2616.28 million US dollars In 2021. The growth could be attributed to an increase in the incidence of gluten sensitivity in pets, leading to a shift in pet owners’ focus from processed foods to plant foods for cats.
“The increasing prevalence of humanization of pets, along with the ease of availability of vegan cat food through online channels, is expected to drive sales in the global vegan cat food market between 2021 and 2031,” says the FMI analyst.
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The main takeaway:
- Depending on the type of product, cat food or vegan dry cat food will continue to be the best-selling product, with sales growing at a compound annual growth rate of 7.8%.
- Vegan cat food is expected to account for 65.3% of the total market share.
- Store-based retail will emerge as the most profitable distribution channel, accounting for approximately 86.4% of the plant-based food market share. This segment is expected to grow at a compound annual growth rate of 6.2% during the evaluation period.
- In terms of packaging, sales of vegan cat food bags will gain momentum, holding 35.8% of the market share.
- The US vegan cat food market is expected to grow at a compound annual growth rate of 5.1%.
- China It is expected to account for 39.0% of East Asia Vegetarian cat food market, due to rapid urbanization and increasing disposable income in the country.
- Japan It is expected to capture 43.8% of the market share in East Asiaand expanding at a compound annual growth rate of 6.2% until 2031.
- Increased individual spending on premium vegan cat food is expected to drive sales.
- Easy availability through online and offline channels with services like home delivery will boost sales in the market.
According to the market survey conducted by FMI, the top players are expected to account for approximately 30-40% of the global vegan cat food market. To meet the ever-evolving needs of consumers, market players are investing in research and development regarding botanical ingredients in order to bring out a better product.
Global and regional players are also accelerating marketing efforts to boost their online presence, aiming to reach a broader consumer base. Inspired by the growing demand for vegan cat food in emerging economies, Aistra launched the first vegan pet food store in India. More product developments include insect protein-based pet food options for a more sustainable approach. for example:
- in a December 2020And MadridPet food producer Veggie Animals has expanded its range of products with the launch of Veggie Animals PLUS for cats. The new product includes tapioca, which strengthens bones, iron and cranberries to prevent urinary tract infections.
- in a January 2021Global food giant Nestlé has announced a new range of Purina pet food made with insect protein. After completely eliminating meat from the pet’s food, the company will incorporate black soldier fly larvae protein and vegetable protein for additional nutrition.
Among the leading players operating in the plant-based cat food market identified by FMI are:
- and wsung
- Evanger dog and cat food
- Nature’s recipe
- my passion
- evolution diet
- Eco dog and cats
- nature diet
- Dr. Godpet
Find out more about the vegan cat food market with figures and spreadsheets, along with a table of contents. ask [email protected] https://www.futuremarketinsights.com/ask-question/rep-gb-13677
More ideas about FMI’s Vegan Cat Food Market
The latest market study on the Vegetarian Cat Food Market by Future Market Insights provides a detailed breakdown for the forecast period 2021-2031. In order to get a better perspective of the global Cat Food market potential, growth, trends, and opportunities, the market is segmented on the basis of:
- cable / dry
- dried food
- treats and chews
- Creams / Creamy Snacks
- crunchy snacks
- chewing sticks
- Freeze dried raw
- wet food
- Freeze Dried Food
- Retail in store
- Hypermarket / supermarket
- Mom and pop stores
- pet stores
- Independent Grocery Retailers
- Other retail formats
- Online retailers
- folding carton
- basins and cups
- Bottles and Jars
- North Amarica
- Latin america
- South Asia
- East Asia
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Key questions addressed in the Cat Food Market report
- The report provides detailed insights into the demand outlook of the vegetarian cat food market for the period 2021-2031
- The market study also highlights the expected sales growth of the vegetarian cat food market between 2021 and 2031
- The Vegetable Cat Food market survey identifies the major growth drivers, restraints, and other forces influencing the prevailing trends, and assesses the current market size, forecast, and technological advancement within the industry.
- Analyzing the Vegetable Cat Food market share of key industry companies and covering strategies such as mergers and acquisitions, joint ventures, collaborations or partnerships, and others
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