The Pet Toys Market is predicted to be worth US$ 2.89 billion in 2023, and rise to US$ 5.90 billion by 2033. Initially, the global market was expanding at a CAGR of 5.2% between 2018 and 2022.
The industry is anticipated to develop due to the rise in pet shops and e-commerce sites. Due to the growing habit of giving pet toys and rising consumer interest in and expenditure on pets, the market has seen tremendous expansion.
The industry is expanding due to the growing popularity of pet toys on social media channels. Social media has been a major factor in this rise, with websites like Instagram and Facebook giving pet owners a place to post pictures of their animals and learn about new items.
Influencers and celebrities have promoted pet products on social media, further raising awareness of pet toys. Moreover, e-commerce platforms have made it simple for pet owners to buy pet toys online, which has aided in the market’s expansion.
The development of smart toys is projected to be one of the key growth factors impacting the demand for pet toys. As they provide a variety of interactive and entertaining options to keep pets amused, smart toys are becoming popular among pet owners.
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Key Takeaways
- In 2022, China grew significantly in the pet toys market, with a share of 45.1%.
- The pet toys market was significantly expanding, with a size of US$ 2.71 billion in 2022.
- Between 2022 and 2023, there is a Y-o-Y growth of 6.6%, which is fueled by the demand for customized products.
- With an 88.2% share in 2022, the market in the United States showed signs of growth.
- In 2022, India grew significantly in the pet toys market, with a share of 36.9%.
- In 2022, Japan grew steadily in the pet toys sector, with a share of 15.3%.
- With a 25.0% market share in 2022, Germany had strong growth in the pet toys sector.
- With a share of 29.1% in 2022, the chew toys category is predicted to dominate the market in terms of product type.
- Based on type, the non-edible segment continues to dominate the sector during the forecast period, with a share of 83.4%.
Key Strategies in the Industry
Key players in the pet toys sector include Central Garden & Pet Company, Cosmic Pet, ZippyPaws, Radio Systems Corporation, Multipet, Kyjen Company LLC, KONG Company, and others.
In order to get an advantage over other companies in the market, these players are concentrating on product innovation and strategic alliances.
For instance,
- The Kong Corporation just unveiled the KONG Bounz-n-Fetch, a new interactive pet toy. For canines, felines, and other small animals, the product offers an entertaining and stimulating activity.
- Hartz Mountain Corporation introduced a new line of interactive pet toys called Tail Teasers that are intended to excite the senses of cats and dogs.
Players in the pet toy sector are also spending money on advertising initiatives to raise their brand awareness and draw in new clients. Also, it is now simpler for pet owners to buy pet toys due to the availability of pet toys on online shopping platforms like Amazon.
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Pet Toys Market by Category
By Product Type:
- Plush Toys
- Rope and Tug Toys
- Balls
- Chew Toys
- Squeaky Toys
- Interactive Toys
- Others
By Pet Type:
- Dogs
- Cats
- Birds
- Others
By Material Type:
- Rubber
- Cotton
- Nylon
- Plastic
- Others
By Type:
- Non-Edible
- Edible
By Size:
- Small
- Medium
- Large
By Price Range:
- Economy (Below US$10)
- Mid-Range (US$10 – US$25)
- Premium (Above US$25)
By Sales Channel:
- Wholesalers/Distributors
- Supermarkets/Hypermarkets
- Convenience Stores
- Multi-Brand Stores
- Online Retailers
- Pet Specialty Stores
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania
More on the Report
FMI provides in-depth insights on the pet toys market. The market is segmented in terms of product type (plush toys, rope and tug toys, balls, chew toys, squeaky toys, interactive toys, and others), pet type (dogs, cats, birds, and others), material type (rubber, cotton, nylon, plastic, and others), type (non-edible and edible), size (small, medium, and large), price range (economy, mid-range, and premium), and sales channel (wholesalers/distributors, hypermarkets/supermarkets, convenience stores, multi-brand stores, online retailers, and pet specialty stores), across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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