Pune, India, Dec. 12, 2023 (GLOBE NEWSWIRE) — The global pet toys market size was valued at USD 7.57 billion in 2021 and is expected to grow from USD 8.01 billion in 2022 to USD 12.63 billion in 2029. , showing a CAGR of 6.73% during the forecast period.
This information is presented by Fortune Business Insightsin its report titled, “Pet Toys Market, 2023-2029.”
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List of Key Players Profiled in Pet Toys Market:
- Kong Company (S)
- Benebone LLC (US)
- Petmate (S.)
- Ethical Products, Inc. (S)
- Petsport USA, Inc. (S.)
- Central Garden and Pet Company (US)
- ZippyPaws (S.)
- Radio Systems Corporation (S.)
- Multipet International, Inc. (S)
- Kyjen Company LLC (S)
Report Scope:
The report offers a detailed market study and a sharp analysis of key market segments. It provides an in-depth analysis of the key players and their insightful strategies to stimulate the growth of the market for cash earnings. It also shares tangible insights that guide business owners in their investment vision. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, the effects of COVID-19 are added for additional information and how it is expected to affect the demand for pet toys in the near future.
Drivers and Restraints:
Rising Demand for Pet Subscription Boxes to Favor Market Expansion
Subscriptions are growing in popularity around the world, and the pet food industry is no different. Direct-to-consumer pet toy sales are gaining momentum ahead of the COVID-19 outbreak. During the pandemic, pet toy subscription services are on the rise, as people play with their pets, their relationships grow, encouraging the premiumization of toys and items for pets. Some of these dogs, cats, and other pets are part of an unprecedented increase in the number of pet owners in the US, resulting in increased sales volume and value of pet products animal
Effects of COVID-19:
Severe Supply Chain Disruption Caused by the COVID-19 Crisis Hinders Growth Momentum
The COVID-19 pandemic has had a negative impact on the growth of the pet toys market. Due to various blockades around the world, manufacturers are forced to close their production facilities due to labor shortages, reducing the demand for pet care products. In addition, many lockdowns around the world have negatively affected the sale of pet toys due to the closure of specialty stores, supermarkets, and hypermarkets.
Segments:
By Product Type
By Pet Type
Through the Distribution Channel
By Geography
- North America
- Europe
- Asia-Pacific
- the Middle East and Africa
- South America
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Regional Perspectives:
North America is expected to dominate the global market, mainly due to increasing adoption of pets in the US, which is driving the demand for soft and flexible toy products.
In Europe, the pet dog and cat toy market is expected to experience rapid growth throughout the forecast period. This growth is attributed to the abundant presence of pet stores and manufacturing units for pet products in various countries within the region.
Meanwhile, the Middle East and Africa, as well as South America, are expected to benefit from the production of premium and high-quality pet toys. Manufacturers in these regions tend to introduce new types of pet toys, which contributes to the development of the market in these areas.
Top Trends in the Global Pet Toys Market:
- Focus on Interactive Toys: There is a growing demand for interactive pet toys that engage animals mentally and physically, promoting exercise, mental stimulation, and interaction between pets and owners of these.
- Release of Eco-Friendly Toys: The increasing preference for eco-friendly and sustainable pet toys made from natural materials, reflects the growing environmental awareness among pet owners.
- Innovation in Smart Toys: The emergence of intelligent and tech-integrated pet toys, such as automated interactive devices and electronic toys, which offer comfort and entertainment for pets even when the owner is not present.
- Customization and Personalization: Demand for customizable pet toys, which allow owners to tailor products to their pets’ preferences, sizes, and play styles, enhancing interaction and pleasure
- Focus on Stability and Safety: Increased emphasis on durable and safe toy materials, ensuring longevity and non-toxicity to prevent any harm to pets during playtime.
- Expansion of Special Toy Categories: Introducing special toy categories that cater to specific pets, such as toys for small breeds, older pets, or pets with specific needs, targeting niche markets .
- Influence of Trends on Human Consumers: Aligning pet toy trends with human consumer trends, mirroring popular toy designs, colors, and styles, appealing to pet owners’ preferences.
- Online Retail and Subscription Services: Increasing use of online platforms and subscription-based services for purchasing pet toys, providing convenience and access to a wider range of products.
Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Major companies in the market often make important announcements about certain business moves, which, in turn, affect the market either positively or negatively. Players acquire companies, launch new products, work on partnership deals, sign contracts with government organizations, and more.
Detailed Table of Contents:
- Introduction
- Research Scope: Defined study parameters.
- Market Segmentation: Market category.
- Research Methodology: Method used to collect data.
- Executive Summary
- Market Dynamics
- Market Drivers: Factors driving market growth.
- Market Restrictions: Factors hindering market growth.
- Market Opportunities: Potential avenues for market expansion.
- Key Insights
- Overview of Parent/Related Markets
- Industry SWOT Analysis: Analysis of strengths, weaknesses, opportunities, and threats.
- Supply Chain Analysis
- Recent Industry Developments: Policies, partnerships, new product launches, mergers and acquisitions.
- Qualitative Analysis Related to COVID-19:
- Assessment of the impact of COVID-19 on the market.
- Supply chain challenges during the pandemic.
- Potential opportunities arising from the global crisis.
- Global Pet Toys Market Analysis, Insights, and Forecast (2018-2029)
- Key Findings / Summary
- Market Size Estimates and Forecasts:
- By Product Type:
- By Pet Type:
- Through Distribution Channel:
- By Region:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
TOC continues…!
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Key Industry Developments:
- November 2022: Nylabone, a popular brand of Central Garden & Pet Company, has announced the launch of its new range of toys for creative fun activities.
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