According to a new report published by Allied Market Research, titled, “Cat Litter Market by Product, Raw Material and 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.
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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.
The global cat litter market is segmented into product type, raw material, distribution channel, and region. By product type, the cat litter industry is classified into clumping and non-clumping. On the basis of raw material, it is fragmented into clay, silica, and others. Depending on distribution channel, it is categorized into hypermarkets/supermarkets, specialty pet stores, and online channels. Region wise, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and the rest of Asia Pacific), and LAMEA (Brazil, Argentina, South Africa, and the rest of LAMEA).
On the basis of product type, the clumping segment accounted for the highest share in 2020. This is attributed to the fact that clumping litter is a popular and convenient choice among pet owners. Many people say that it makes cleaning up a lot easier. In addition, clumping litter comes in a variety of fragrances, granule sizes, and textures. The litter soon attaches to the waste, cupping around to form a barrier. It prevents waste from spreading throughout the litter box, keeping the kitty box fresher for longer.
Depending on raw material, the clay segment garnered the largest share of the global cat litter market share in 2020, and is expected to dominate the market throughout the forecast period. This is attributed to the fact that clay absorbs ample amount of water in a short time span, keeping the litter box dry and clean.
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.
By Region, Asia-Pacific registered the highest growth in 2020, followed by Europe and North America. China and the U.S. were the most prominent countries accounting for a sizeable share in the global market.
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Key players in the cat litter market have relied on product launch as their key strategic move to stay relevant in the global market. The key players profiled in the report are 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, and Healthy Pet.
Key Findings of the Study:
○ According to Cat Litter Market Trends Analysis, on the basis of product type, the clumping segment is projected to witness the highest CAGR of 5.5% in terms of revenue during the forecast period.
○ Depending on raw material, the silica segment is expected to dominate the market through 2021–2030.
○ According to Cat Litter Market Opportunity Analysis, by distribution channel, the hypermarkets/supermarkets segment occupied the largest market with maximum value share in 2020, and online channels segment is expected to grow at the significant CAGR of 5.8% during the forecast period.
○ Asia-Pacific is anticipated to witness the highest growth rate, registering a CAGR of 5.9% from 2021 to 2030.
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○ Vegan Pet Food Market is estimated to reach $16.3 billion by 2030
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○ Pet Training Services Market is projected to reach $6.84 billion by 2031
Source: https://www.dailyreportsworld.com
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