According to a new report published by Allied Market Research, titled, “Cat Litter Market, By Product, By Raw Material and By Distribution Channel : Global Opportunity Analysis And Industry Forecast, 2021-2031″. The cat litter market was valued at $7,212.80 million in 2020, and is estimated to reach $11,293.30 million by 2030, growing at a CAGR of 4.7% from 2021 to 2030.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The growing number of cat owners around the world is likely to boost cat litter market growth. Most cat owners prefer not to let their cats out of the house for a variety of reasons, including human animosity and inclement weather. These variables are expected to drive the product demand during the forecast period. Product sales are being boosted by the growing trend of pet humanization as well as rise of the pet population in the U.S. As a result, growing pet expenditure will drive market growth.
Increase in cat population and surge in number of multi-cat households drive the growth of the global cat litter market. However, the industry is experiencing supply chain disruptions all across the world which hinders the market growth. On the other hand, growing trend of pet humanization presents new opportunities in the coming years.
Based on raw material, the clay segment held the highest market share in 2020, accounting for two-fifths of the global cat litter market, and is estimated to maintain its leadership status throughout the forecast period, owing to usage in the creation of cat litter products. Moreover, the silica segment is projected to manifest the highest CAGR of 5.4% from 2021 to 2030, owing to usage as preservatives in packaged foods, pharmaceuticals, and other products.
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By distribution channel, the hypermarkets/supermarkets segment accounted for the highest share in 2020, as customers benefit from the availability of a wide choice of products, product discounts, sales representative assistance, and speedy checkouts at hypermarkets/supermarkets. Thus, these advantages are predicted to promote shopping at hypermarket/supermarket growth during the cat litter market forecast.
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global cat litter market, due to an increase in the number of cat owners. Moreover, the Asia-Pacific region is expected to witness the fastest CAGR of 5.9% during the forecast period, owing to an increase in nuclear households and an increase in disposable money.
Covid-19 Scenario:
As the countries were imposed with lockdown globally, consumers purchased pet products with more shelf life, thus raising the sales of cat litter during the COVID-19 pandemic.
The pandemic disrupted the sales of cat litter industry via brick and mortar stores, which resulted in shift of consumers toward online sales channels to purchase pet products, thus driving the growth of online sales in pet products.
Leading Market Players
• Mars Inc.
• Nestle SA
• Church & Dwight Co. Inc.
• The Clorox Company
• Dr. Elsey’s
• Oil-Dri Corporation of America
• pestell pet products
• ZOLUX SAS
• Cat Litter Company
• Healthy pet
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