May 21, 2024
Cat Litter Market

Cat Litter Market is projected to witness significant growth

The Cat Litter Market is estimated to be valued at US$ 4.72 Bn in 2022 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cat litter is used to absorb waste such as urine and feces of cats. It helps eliminate odor, control moisture and tracks litter outside the litter box. Silica gel and bentonite clay are commonly used cat litter materials which effectively absorbs urine and odors. Proper waste management is essential for cat litter to maintain hygiene and health of cats.

Market key trends:

One of the key trends spurring growth in the cat litter market is increasing adoption of cats as pets globally. According to recent survey, nearly 95 million American households owned a pet out of which over 42% homes had cats. Rising pet ownership has augmented demand for cat litter products considerably over the years. Cat owners prefer lighter weight, dust free and clumping cat litter for hassle-free cleanup. Technological advancements in cat litter materials to improve odor control and absorption capacity are also propelling the market growth.

Porter’s Analysis

Threat of new entrants: New companies can enter the cat litter market easily as the required investment is relatively low. However, established brands have strong brand recognition and distribution networks that make it difficult for new entrants.
Bargaining power of buyers: Buyers have high bargaining power in the cat litter market due to availability of numerous brands. Buyers can easily switch to substitute products if prices increase.
Bargaining power of suppliers: A few major suppliers dominate the raw material market which provides them bargaining power over cat litter producers.
Threat of new substitutes: Biodegradable litters and recycled paper litters pose threat to conventional clay and silica cat litters.
Competitive rivalry: The global cat litter market is highly competitive due to presence of numerous regional and international brands.

SWOT Analysis

Strength: Availability of diverse product types catering to various needs. Strong brand recognition of leading players.
Weakness: High dependence on a few raw material suppliers increases production costs. Significant marketing spending is required to promote brands.
Opportunity: Increasing pet humanization trend and nuclear family culture boosts pet ownership. Growth in online retail market helps reach wider audience.
Threats: Changing consumer preferences towards eco-friendly products pose challenges. Economic slowdowns and high inflation impact disposable incomes.

Key Takeaways

The Global Cat Litter Market Size is expected to reach US$ 4.72 Bn by 2022, expanding at a CAGR of 4.2% during the forecast period. Growing urbanization and rising pet ownership, especially in developing countries, are major factors driving the market. The United States represents the largest as well as the fastest growing regional market owing to high rates of pet adoption and increasing pet humanization in the country. 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.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it