According to Packaged Facts' newly released report, "Cats: US Pet Market Trends and Opportunities, 2nd Edition" (March 2024), cat owners are increasingly aware of an imbalance in the pet market, which tends to focus more on dogs. Retailers, marketers and service providers often overlook the needs of cat owners, treating them as second-class citizens. However, with recent declines in the dog population, the market is primed for a shift toward cat-focused products and services, presenting significant new opportunities.
As the second largest segment of the US pet industry by animal type, cats represent a $43 billion market, accounting for 30% of the total $145 billion in pet industry sales for 2023. Cats are highly favored as personal companions due to their smaller size, ease of management, and cost-effectiveness compared to dogs. This is particularly appealing to economically challenged households and those with limited living space. Cat owners, seeking companionship and affection from their pets, are likely to invest in products that promote their cats' health and happiness.
- Market Value: Cats represent a substantial $43 billion market
- Pet Industry Sales: Cats accounted for 30% of the total $145 billion in pet industry sales in 2023
- Economic Appeal: Cats are a lower-cost option, making them appealing to budget-conscious households
- Growth Opportunities: The report identifies significant opportunities for cat-focused products and services
The "Cats: US Pet Market Trends and Opportunities, 2nd Edition" report offers comprehensive coverage of the factors driving sales in this lucrative market. It includes historical and projected growth trends from 2018 to 2028 across four pet industry sectors: pet food/treats, non-food supplies, veterinary services, and non-medical services. Additionally, the report provides insights into cat population and ownership trends, cat owner sentiment and attitudes from Packaged Facts' proprietary Survey of Pet Owners, and discussions on marketing and new product trends.
