Pet Toy Market Size to Exceed $12.63 Billion by 2029 |

PUNE, India, Dec. 12, 2023 (GLOBE NEWSWIRE) — Global Size of the pet toys market It 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 by 2029, exhibiting a CAGR of 6.73% during the forecast period.

It is presented by information Fortune Business InsightsIn his report entitled, Pet Toys Market, 2023-2029.

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List of Key Players Profiled in the Pet Toys Market:

  • Kong Co. (S)
  • Benebone LLC (US)
  • Pet Mate (S.)
  • Ethical Products, Inc. (S)
  • Petsport USA, Inc. (S.)
  • Central Garden & Pet Company (US)
  • ZippyPaws (S.)
  • Radio Systems Corporation (S.).
  • Multipet International, Inc. (S)
  • Kyjen Company LLC (S)

Report Coverage:

The report presents a detailed study of the market and an in-depth examination of the major segments of the market. It provides in-depth analysis of key players and their insightful strategies to drive market growth for financial gains. It also shares solid insights that guide business owners in their investment perspectives. Regional dynamics and how they shape the market’s upward curve are presented in the following report. Additionally, the impact of COVID-19 is included for additional information and how it is expected to affect the demand for pet toys in the near future.

Drivers and restrictions:

Growing demand for pet subscription books favors market expansion

Subscriptions are growing in popularity worldwide, and the pet food industry is no different. Sales of direct-to-consumer pet toys were booming before the COVID-19 outbreak. During the pandemic, pet toy subscription services were on the rise, as people played with their pets, increasing their relationships, leading to the premiumization of pet toys and accessories. There is encouragement. Some of these dogs, cats and other pets are part of a phenomenal increase in the number of pet owners in the United States, which in turn has increased the volume and value of pet product sales.

Effects of COVID-19:

Severe disruptions in the supply chain due to the COVID-19 crisis hampered growth

The COVID-19 pandemic adversely affected 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, which reduces the demand for pet care products. In addition, multiple lockdowns across the world have adversely affected pet toy sales due to the closure of specialty stores, supermarkets and hypermarkets.

Classes:

According to the type of product

According to the type of pet

By distribution channel

In terms of geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South America

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Regional Insights:

North America is expected to dominate the global market, mainly due to the growing adoption of pets in the US, resulting in increasing demand for soft and flexible toy products.

In Europe, the pet dog and cat toys market is expected to witness rapid growth throughout the forecast period. This growth is due to the abundant presence of pet shops and manufacturing units for pet products in various countries of the region.

Meanwhile, the Middle East and Africa, as well as South America, are expected to benefit from the production of high-quality pet toys. Manufacturers in these regions tend to introduce new types of pet toys, which contribute to the growth of the market in these regions.

Top Trends in the Global Pet Toy Market:

  • Focus on interactive toys: Growing demand for interactive pet toys that engage animals mentally and physically, promote exercise, mental stimulation, and bonding between pets and their owners.
  • The rise of eco-friendly toys: The growing 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 smart and tech-enabled pet toys, such as automated interactive devices and electronic toys, offer convenience and entertainment to pets even in the absence of the owner.
  • Customization and Personalization: Demand for customized pet toys allows owners to tailor products to their pet’s preferences, size, and play style, increasing engagement and satisfaction.
  • Focus on stability and security: High emphasis on durable and safe toy materials, ensuring longevity and non-toxicity so pets are not harmed during playtime.
  • Extension of Specialty Toys Category: Introducing specific categories of toys for specific pets, such as toys for small breeds, senior pets, or pets with special needs, targeting specific markets.
  • Influence of Human Consumer Trends: Aligning pet toy trends with human consumer trends, mirroring popular toy designs, colors and styles, influences pet owners’ preferences.
  • Online Retail and Subscription Services: Adoption of online platforms and subscription-based services for buying pet toys, providing convenience and access to a wide range of products.

Competitive landscape:

Important announcements related to the business of key players to influence market dynamics

Major companies in the market often make important announcements regarding certain business moves, which, in turn, have a positive or negative impact on the market. Players acquire companies, launch new products, engage in partnership deals, sign agreements with government organizations, etc.

Detailed Table of Contents:

  • Introduction
    • Scope of Research: Defined parameters of the study.
    • Market Segmentation: Market classification.
    • Research Methodology: Method used for data collection.
  • Executive summary
  • Market dynamics
    • Market Drivers: Factors Driving Market Growth
    • Market Restrictions: Factors Restraining Market Growth
    • Market Opportunities: Potential avenues for market expansion.
  • Key insights.
    • Review of parent/related markets
    • Industry SWOT Analysis: Assessment of strengths, weaknesses, opportunities and threats.
    • Supply chain analysis
    • Recent Industrial Developments: Policies, partnerships, new product launches, mergers, and acquisitions.
    • Qualitative analysis related to COVID-19:
      • A review of the impact of COVID-19 on the market.
      • Supply chain challenges during pandemics.
      • Potential opportunities arising from the global crisis.
  • Global Pet Toys Market Analysis, Insights, and Forecast (2018-2029)
    • Key Findings / Summary
    • Market Size Estimation and Forecast:
      • By Product Type:
      • By type of pet:
      • Through Distribution Channel:
      • By region:
        • North America
        • Europe
        • Asia Pacific
        • South America
        • Middle East and Africa

TOC continues…!

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Key Industry Development:

  • November 2022: Nylabon, a popular brand from Central Garden & Pet Company, announces the launch of its new range of play toys for creative fun activities.

Read related insights:

Size of the Pet Apparel Market Estimated to reach $7 billion by 2028 | Special report from Fortune Business Insights™

Size of the pet furniture market to reach USD 6.09 billion by 2030 | with a CAGR of 6.14%

Size of the pet care market Estimated to reach $368.88 billion by 2030 | A 100-page special research report

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