Kibble/Dry Food to Account for Nearly One-fourth of Vegan Cat Food Sales Through 2021: FMI
Pet humanization has recently gotten a lot of attention in the mainstream media throughout the world. In the vegan cat food industry, the change from cat ownership to cat parenting has been a critical and defining development, particularly in industrialized countries.
Vegan Cat Food Market
A recent market study published by Future Market Insights on the vegan cat food market off...
Future Market Insights (FMI) sees this as a primary growth driver. In its latest study, FMI predicts vegan cat food sales to increase at 7.2% CAGR between 2021 and 2031.
A pet is owned by more than one-third of families in developed countries. According to the National Pet Owners Survey (2019-20) performed by (APPA) American Pet Products Association, more than 85 million households in the United States had one or more pets.
Rising pet adoption will remain key to expansion of the vegan cat food market. This, coupled with higher degree of awareness pertaining to health and wellness of cats and dogs has piqued pet owners’ interest for vegan pet food.
Key Takeaways from the Vegan Cat Food Market Study:
- North America leads in terms of market share, accounting for 39.2% of the global vegan cat food market in 2021.
- Kibble and dry cat food will remain top-selling product category, accounting for a market share of 23.5% in 2021. The kibbles are dried, cooled, and sprayed with a protective coating. They offer higher convenience, which has resulted in their soaring demand.
- Vegan cat food demand for adult cats is anticipated to rise CAGR of 6.3% during the forecast period.
- Store-based retailing of vegan cat food will continue increasing, accounting for 86.4% of sales in the market 2021.
- Based on packaging, the bags segment is accounted for 35.8% of the global vegan cat food market as it is a more cost-effective alternative to the cumbersome containers and jars that were once used in packing.
“The top competitors in the global vegan cat food market have a well-defined product classification system. Manufacturers are concentrating their research and development efforts on developing unique and nutrients enriched products best for the cat's health,” says a lead FMI's main analyst
Investing in Research & Development Remains Key Strategy among Leading Manufacturers
Increasing investment in research and development by key players around the world, particularly in the developed world, are projected to accelerate the expansion of the global vegan cat food market shortly.
The increasing demand for plant-based food for both humans and pets around the world is another factor driving the market over the forecast period.
Additionally, manufacturers are introducing various product types like frozen, freeze-dried vegan cat food and various cat treats like crunchy snacks, chew sticks for cats, which will aid in the market’s overall expansion.
Increased awareness regarding what is good for cat health has resulted in a greater focus on improving its weight and maintaining its overall health. Customers choose from a variety of foods and place a high value on product brands. Therefore, manufacturers are continuously working to break into the luxury food goods segment and increase their overall profit margin.
Who is Winning?
Some of the leading companies offering Vegan Cat Food Market are Benevo, Wysong, Evanger's Dog & Cat Food, Nature's Recipe, My Aistra, Evolution Diet, Cannapple, Eco Dog and Cats, Nature's Diet, Dr.goodpet and others.
To reach a large customer base, vegan cat food industry producers are aiming at product launches to offer greater health benefits. This also has resulted in higher focus on research and development.
Additionally, COVID-19 outbreak has caused manufacturers to focus on online retailing to reach customers through E-commerce websites.
Get Valuable Insights into Vegan Cat Food Market
Future Market Insights, in its new offering, provides an unbiased analysis of the vegan cat food market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the vegan cat food market based on product type (kibble/dry, dehydrated foods, treats and chews, freeze-dried raw, wet food, frozen, powder, freeze-dried food), by age group (kitten and Adults), and by distribution channel (Online Retailers, Store-based Retailing ) and by packaging (bags, bottles & jars, cans, folding cartons, pouches, tubs & cups) across seven major regions.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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