This is a main growth driver, according to Future Market Insights (FMI). Vegan cat food sales are expected to grow at a 7.2 percent compound annual growth rate (CAGR) between 2021 and 2031, according to FMI’s newest analysis. Pet humanization has received a lot of attention in the mainstream media throughout the world recently. The transition from cat ownership to cat parenting has been a key and defining development in the vegan cat food market, particularly in industrialised countries.
In wealthy countries, more than one-third of families have a pet. According to the American Pet Products Association’s (APPA) National Pet Owners Survey (2019-20), more than 85 million households in the United States had one or more pets.
The vegan cat food business will continue to grow as pet popularity rises. This, combined with a greater understanding of cat and dog health and wellness, has stimulated pet owners’ interest in vegan pet food.
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The following are the key takeaways from the Vegan Cat Food Market Study:
- In terms of market share, North America is in the lead, accounting for 39.2 percent of the worldwide vegan cat food market in 2021.
- Kibble and dry cat food will continue to be the most popular product category, with a market share of 23.5 percent in 2021.
- The kibbles are dried, chilled, and protected with a coating. They provide more convenience, which has led to a surge in demand.
- Vegan cat food demand is expected to grow at a CAGR of 6.3 percent for adult cats.
Vegan cat food sales in stores will continue to rise, accounting for 86.4 percent of total sales in 2021.
Because it is a more cost-effective alternative to the cumbersome containers and jars that were traditionally used in packaging, the bags segment accounted for 35.8% of the global vegan cat food market.
“In the worldwide vegan cat food industry, the leading competitors have a well-defined product classification system. “Manufacturers are focusing their research and development efforts on providing unique and nutrient-rich products that are optimal for the health of cats,” says a lead FMI analyst.
Leading Manufacturers Continue to Invest in Research and Development as a Key Strategy.
The global vegan cat food market is expected to expand quickly as important players around the world, particularly in the developed world, increase their investment in research and development.
Another factor boosting the market over the forecast period is the rising demand for plant-based food for both humans and pets around the world.
Manufacturers are also developing new product kinds, such as frozen, freeze-dried vegan cat food and varied cat treats, such as crunchy nibbles and chew sticks for cats, which will help the industry grow overall.
Increased awareness of what is excellent for a cat’s health has led to a greater focus on maintaining its weight and overall health. Customers have a wide range of culinary options and place a high value on product quality.
Who is the victor?
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 are some of the major firms in the Vegan Cat Food Market.
Vegan cat food manufacturers are pushing for product introductions that offer higher health benefits in order to reach a large customer base. This has also led to a greater emphasis on research and development.
Furthermore, the COVID-19 outbreak has prompted manufacturers to place a greater emphasis on online shopping in order to attract clients through E-commerce websites.
Get in-depth knowledge on the vegan cat food market.
In this latest offering, Future Market Insights presents an unbiased research of the vegan cat food market, including historical demand data (2016-2020) and projected figures for the years 2021-2031. The research provides valuable information on the vegan cat food market by product type (kibble/dry, dehydrated foods, treats and chews, freeze-dried raw, wet food, frozen, powder, freeze-dried food), age group (kitten and Adults), distribution channel (Online Retailers, Store-based Retailing), and packaging (bags, bottles & jars, cans, folding cartons, pouches, tubs & cups) across seven major regions.