Are cats a business? - briefly
Cats have become an increasingly significant part of the global pet industry, which is projected to reach $303 billion by 2025. This growth can be attributed to the rising trend of pet ownership, particularly in urban areas, and the increasing spending on cat-related products and services.
Are cats a business? - in detail
Cats have indeed become a multifaceted and thriving business, encompassing a wide range of products, services, and industries. The global cat care market is projected to reach $24.7 billion by 2025, highlighting the significant economic impact that these beloved pets have on various sectors.
Firstly, the pet food industry is one of the most prominent areas where cats contribute to business. According to a report by Grand View Research, the global pet food market size was valued at USD 94.12 billion in 2020 and is expected to grow at a CAGR of 5.6% from 2021 to 2028. Cat food accounts for a substantial portion of this market, with brands like Purina, Hill's Science Diet, and Royal Canin dominating the shelves.
Secondly, cat litter is another essential product driving the business. The global cat litter market size was valued at USD 3.5 billion in 2019 and is projected to grow at a CAGR of 4.2% from 2020 to 2027, according to a report by Grand View Research. Leading brands such as World's Best Cat Litter, Dr. Elsey’s Precious Cat, and Arm & Hammer focus on providing high-quality, low-tracking, and environmentally friendly options to cater to the diverse needs of cat owners.
Moreover, cat accessories and toys form a significant part of the market. From scratching posts and beds to interactive toys and grooming tools, these items are designed to keep cats healthy, happy, and entertained. Companies like Kong, PetSafe, and Yeowww! are well-known for their innovative and durable products that appeal to both cats and their owners.
The veterinary care industry also benefits substantially from the presence of cats. According to the American Veterinary Medical Association, pet ownership in the United States alone has increased from 57% in 1988 to 67% in 2017-2018, with a significant portion of these pets being cats. The growing demand for veterinary services, including regular check-ups, vaccinations, and emergency care, translates into a robust business for veterinarians and related service providers.
Additionally, the cat boarding and grooming industry has seen substantial growth. As more pet owners seek professional help to maintain their cats' hygiene and well-being, groomers and boarding facilities are in high demand. These services not only cater to practical needs but also offer peace of mind to owners who need to travel or work long hours.
The digital and e-commerce landscape has further bolstered the cat business. Online platforms dedicated to cats, such as Chewy.com and Amazon’s pet section, provide a convenient shopping experience for cat owners. Social media platforms like Instagram and YouTube have also created opportunities for cat influencers and brands, expanding their reach through engaging content and targeted marketing strategies.
Lastly, the entertainment industry has not been left untouched by the feline influence. Movies like "The Aristocats" and "Keanu," along with popular internet sensations such as Grumpy Cat and Lil Bub, have captivated audiences worldwide, generating significant revenue through merchandise sales and licensing deals.
In conclusion, cats are indeed a business that spans multiple sectors, including pet food, accessories, veterinary care, grooming, e-commerce, and entertainment. The increasing demand for high-quality products and services tailored to cat owners has fueled the growth of this industry, making it a significant contributor to the global economy.