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.
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https://www.newsstatix.com/cat-litter-market-size-share-growth-outlook-2023/
