Cat Litter Market Presents Strong Revenue Visibility in Near Future Booming At a CAGR of 4.7% During 2021-2031
Cat Litter Market
According to a new report, The global cat litter market is segmented into product type, raw material, distribution channel, and region.
5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, October 19, 2022 /EINPresswire.com/ -- 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. The report offers an extensive analysis of changing market trends, key segments, top investment pockets, regional scenario, Porter’s Five Forces, and competitive scenario.
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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 Benefits For Stakeholders:
○ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cat litter market analysis from 2020 to 2030 to identify the prevailing cat litter market opportunity.
○ The market research is offered along with information related to key drivers, restraints, and opportunities.
○ Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
○ In-depth analysis of the cat litter market segmentation assists to determine the prevailing market opportunities.
○ Major countries in each region are mapped according to their revenue contribution to the global cat litter market size.
○ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
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