Market growth based on trends

Packaged Facts presents its new study Pet Litter, Clean-Up, and Odor Control: US Market Trends and Opportunities, 2nd Edition. The publisher forecasts that the pet clean-up and odour control product market will approach 5 bn dollars by 2024, experiencing a 3 per cent CAGR.
Cat litter is by far the largest category in the pet clean-up and odour control market and accounts for 73 per cent of the overall pet clean-up market. Puppy/training pads and dog waste bags and accessories together account for 17 per cent of the market. Pet clean-up/odour control preparations account for the remainder of the market.

Clean-up innovations that make pet ownership easier: in the pet clean-up and odour control market, innovations typically stem from a desire to make pet ownership easier and more appealing by simplifying some of the less pleasant aspects of pet care.Pets as family: one of the biggest industry-wide trends that is impacting this market is the notion of pets as family members. When pet owners consider their pets as family members, they keep them in close proximity, both at home and when out and about, making clean-up products more necessary.Health and wellness: part of the aforementioned trend is an increasing focus on pet health and wellness. Pet owners are looking for clean-up and odour control products that are not only safe for themselves and their pets but that will help maintain their pets' overall wellness.Pet ownership trends: while cat ownership has remained approximately the same over the past five years, should the cat-owning population show a return to growth similar to the recent rebound among dog-owning households, the clean-up and odour control market would experience a significant gain in sales, because cat litter makes up such a large component of the market.Millennials and housing issues: unlike boomers in the past, millennials often live in apartment settings. And, although a current shortage of more pet-friendly housing overall is problematic for the pet market, it may actually benefit the pet clean-up and odour control market. Apartment dwellers are more likely to seek out animals such as cats that don't need to be taken outside but need a litter box, and those that have dogs rely on clean-up products such as training pads and waste bags to enable them to keep their pets in a small space.Natural and eco-friendly: a key part of the drive towards premium and super-premium product lines and pricing, natural and…