Clumping Litter is the fastest growing segment fueling the growth of Cat Litter Market
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| Cat Litter Market |
The cat litter market is
estimated to be valued at US$ 4.97 Bn in 2023 and is expected to exhibit a CAGR
of 5.4% over the forecast period 2023-2030, as highlighted in a new report
published by Coherent Market Insights.
Market Overview:
Cat litter is a granular or
particulate material used by cat owners for sanitary cat elimination. It
absorbs and masks odors from cat urine and feces. Cat litter is often made from
materials such as clay, silica gel, walnut shells or recycled paper and comes
scented or unscented. It is packaged in cardboard boxes, bags or pouches and
sold through supermarkets, pet stores, veterinary clinics and online retail
channels.
Market Dynamics:
Increasing pet ownership is a key
factor driving growth of the global cat litter market. According to the
2019-2020 National Pet Owners Survey by the American Pet Products Association
(APPA), there are over 94 million cats living in U.S. homes. Additionally,
rising disposable incomes in developing countries is enabling people to spend
more on pets, fueling demand for cat litter and other pet supplies. Another
driver is growing preference towards clumping cat litter formulations that are
more convenient to use and control odors better. Technological advancements
like adding baking soda, activated charcoal or odor eliminants in cat litter
formulations is also supporting market gains.
SWOT Analysis
Strength: Cat Litter Market has
strong brand recognition and customer loyalty towards premium brands like Mars
Inc. and Nestle SA. Increased awareness about pets' hygiene and health has
positively impacted the sales of high-quality litters. Growing trend of nuclear
families and single households in urban areas has boosted pet adoption and the
demand for cat litters.
Weakness: Low-cost and local
substitutes available across developing nations can pose pricing challenges for
established brands. Fluctuations in prices of raw materials like clay can
affect the margins and overall costs for manufacturers.
Opportunity: Rising pet
humanization trend and increasing spending on pet care in developed regions
present an opportunity for premium and innovative product launches. Growing
popularity of online retail channels provides an avenue for new entrants and
brands to target untapped markets.
Threats: Strict environmental
laws and regulations around waste disposal can limit the usage of conventional
clay litters. Economic slowdowns may negatively impact discretionary pet
spending.
Key Takeaways:
The Global
Cat Litter Market Share is expected to witness high growth, exhibiting
CAGR of 5.4% over the forecast period, due to increasing pet ownership and
humanization. Growing number of single households and nuclear families own pets
for companionship which drives the demand for cat litters.
Regional analysis: North America dominates the global cat litter
market, owing to growing pet care expenditure and adoption in the US and
Canada. Europe exhibits significant growth opportunities with rising pet
population in Germany, France and UK. Asia Pacific is emerging as the fastest
growing regional market with increasing pet care awareness in China, India and
other developing countries.
Key players operating in the Cat Litter market are Mars Inc.,
Nestle SA (Purina), Church & Dwight Co Inc., The Clorox Company, Dr.
Elsey’s, Oil-Dri Corporation of America, Pestell Pet Products, Zolux Sas, Cat
Litter Company, and Healthy Pet. Mars Inc. and Nestle SA (Purina) have the
largest market shares due to their premium brand positioning and global
distribution network. New product launches catering to pet safety and
environmental needs will help other players strengthen their market position.
Get More Insights Here
https://www.newsstatix.com/cat-litter-market-size-share-growth-outlook-2023/
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