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NEWARK, Del, Sept. 05, 2022 (GLOBE NEWSWIRE) -- The cat litter market is projected to showcase opulent growth over the forecast period between 2021 to 2031 with a surprising CAGR of 5.3%. According to the FMI analysis, the market was expected to generate revenue surpassing US$ 4.3 Bn in 2021, and the direct sales channels are expected to reflect a positive growth outlook with an above-average CAGR of 6.4% through the assessment period.
Cat owners are increasingly spending more money on luxury products for their pets which is resulting in the global cat litter market growth at 5.3% CAGR between 2021 and 2031. The Future Market Insights reveals that the cat litter market will experience a year-on-year growth rate of 2.2% in 2021.
The cat litter market has reached directly to the consumers and some big brands in the industry are focusing on launching their own websites to promote products such as cat litter deodorizers, cat litter jugs, and cat litter mats directly to the consumer. This is allowing customers to build trust and brands to gain long-term brand loyalty.
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Major giants operating in the global cat litter industry are concentrating on strategic approaches to conduct promotional campaigns in order to expand their product manufacturing and cater to the demand of an expanding customer base.
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More Insights into the Cat Litter Market
North America is expected to dominate the cat litter market by accounting for a total of 76.5% of the region's value share through 2031. Pet owners in the United States are willing to spend more on their cats which is driving growth in the market.
The U.K. is expected to showcase lucrative growth opportunities by rising its sales at a CAGR of 2.8% in the European region. The presence of key market players in the region is anticipated to bolster growth in the market.
China is considered the leading manufacturer of cat litter accounting for over 38% of the overall sales within the region. Driven by surging downstream demand, the Chinese market is predicted to be more popular for cat litter, thus increasing sales in the East Asian region.
As per FMI analysis, in 2031, India is projected to account for about 21.7% of sales in South Asia. Pet humanization and the rise in disposable income are some of the surging factors responsible for driving growth in the market.
Cat Litter Market by Category
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3.1. Key Trends Impacting the Market
3.1.1. Ascend in consumer spending on Alternative Litter
3.1.2. Solution trends with emphasis on Education
3.1.3. Sustainability and creating shared value
3.1.4. Investing more in research & development driving unrelenting innovation
3.1.5. Growing personal care of pets
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Have a Look at Related Research Reports of Consumer Product:
Cat Litter Products Market Size Analysis 2015 - 2019 and Opportunity Assessment; 2020 – 2030
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Cat Food Toppings Market Demand outlook, demand forecast & up-to-date key trends
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Cat Food Flavors Market Forecast Analysis 2015-2019 and Opportunity Assessment 2020-2030
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