Leading cat litter segment driving pet care industry
SWOT Analysis:
Strength: It has a large and growing consumer base as the number of pet cats worldwide increases.
Weakness: Presence of toxic ingredients like bentonite clay in some cat litter products which can harm cats and the environment.
Opportunity: Growing demand for eco-friendly litters made from natural and recycled materials provides new business opportunities.
Threats: Increased competition from local and private label players introducing affordable offerings in the market.
Key Takeaways:
The Global Cat Litter Market Size was valued at US$ 4.72 Bn in 2022. It is expected to witness high growth, exhibiting a CAGR of 4.2% over the forecast period of 2023-2030. The market is driven by factors like rising pet expenditure and humanization of pets. North America currently dominates the global cat litter market owing to high pet ownership and growing trend of nuclear families. The United States accounted for over 35% of the North American cat litter market value in 2022.
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