Future Market Insights (FMI) presented a detailed analysis of growth drivers and factors restricting expansion in the global cat food market survey. The study also covers growth trends across various segments including product type, age, distribution channel, and packaging, with stand-up bag packaging emerging as the latest trend.
DUBAI, U.A.E, Aug. 10, 2021 /PRNewswire/ -- Growing demand for plant-based and nutrient-rich pet food is boosting sales of vegan cat food. As per ESOMAR-certified consulting firm Future Market Insights (FMI) the global vegan cat food market is anticipated to surpass US$ 10,560.40 Mn in 2021.
Increasing concerns regarding pet health are propelling demand for meat-free pet food alternatives. This trend is encouraging pet food producers to incorporate plant-based formulas such as pea protein in cat food products. Owing to this, FMI projects the vegan cat food market to expand at a positive 7.2% CAGR through 2031.
Prevalence of vegan diets across the globe has translated into increased sales of vegan cat food. Transparent ingredient lists is highly sought-after in human foods and this trend has proven critical in shaping pet owners' preference for high-quality nutrients in pet food as well. Consequently, the focus on product advancements in plant-based kibble, treats, and wet food is at all-time high, creating opportunities for sales in vegan cat food.
The overall spike in pet ownership and per capita expenditure on pet food are chief factors providing tailwinds to vegan cat food sales. Unique processing techniques, reusable packagings such as pouches and stand-up bags, and product certifications will remain key variables influencing sales of vegan cat food.
As per FMI's regional analysis, the U.S. is expected to dominate the vegan cat food market, reaching US$ 2,616.28 Mn in 2021. Growth can be attributed to increasing incidence of gluten allergy in pets, which is shifting the focus of pet-owners from processed food to vegan cat food.
"Growing prevalence of pet humanization, coupled with easy availability of vegan cat food through online channels are expected to propel sales in the global vegan cat food market between 2021 to 2031," says the FMI analyst.
Based on product type, kibble or dry vegan cat food will remain the best-selling product, with sales growing at a 7.8% CAGR.
Adult vegan cat food is projected to account for 65.3% of the total market share.
Store-based retail will emerge as the most lucrative distribution channel, accounting for approximately 86.4% of the vegan food market share. The segment is projected to grow at a 6.2% CAGR over the assessment period.
In terms of packaging, sales of vegan cat food bags will gain traction, holding 35.8% of the market share.
The vegan cat food market in the U.S. is projected to grow at a 5.1% CAGR.
China is expected to account for 39.0% of the East Asia vegan cat food market, owing to rapid urbanization and increasing disposable income in the country.
Japan is anticipated to hold 43.8% of the market share in East Asia, expanding at a healthy 6.2% CAGR through 2031.
Increasing per capita expenditure on premium vegan cat food is anticipated to drive sales.
Easy availability through online and offline channels with services like home delivery will foster sales in the market.
As per FMI's market survey, top players are projected to account for approximately 30-40% of the global vegan cat food market. To satisfy the ever-evolving consumers' needs, market players are investing in research and development regarding plant-based ingredients for better product roll-out.
Global and regional players are also expediting marketing efforts to strengthen their online presence, aiming to reach a wider consumer base. Taking cues from growing demand for vegan cat food in emerging economies, Aistra launched its first vegan pet food store in India. More product developments include insect protein-based pet food options for a more sustainable approach. For instance:
In December 2020, Madrid-based vegan pet food producer Veggie Animals expanded its product range by launching Veggie Animals PLUS for cats. The new product includes tapioca, which strengthens bones, iron, and cranberries to prevent urinary tract infections.
In January 2021, global food giant Nestlé announced a new range of Purina pet food which is made from insect protein. Cutting out meat entirely from pet food, the company will incorporate black soldier fly larvae protein and with plant-based protein for added nutrition.
Leading players operating in Vegan Cat Food Market profiled by FMI include:
The latest market study on the vegan cat food market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global vegan cat food market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
Key Questions Covered in Vegan Cat Food Market Report
The report offers detailed insights into vegan cat food market demand outlook for 2021-2031
The market study also highlights projected sales growth for vegan cat food market between 2021 and 2031
Vegan cat food market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Vegan cat food market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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