The pet toys market size is projected to rise at a healthy 7.2% CAGR for the period of projection from 2021 to 2031.
The rise of the pet toys market is mostly attributed to the rising rate of pet ownership, rising interest in pet humanization trends, and the development of pet care hospitality facilities.
Despite greater prices, consumers are increasingly seeking for specialised and unique products for particular pets. In addition, market developments are predicted to be influenced by the trend of employing toys for behavioural training.
“Pet owners have shown a growing interest in buying environmentally friendly goods while upholding animal safety regulations. According to the FMI report, this has prompted pet toy producers to investigate natural materials for their products in order to meet the demands of eco-aware pet parents.
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Pet Toys Market – Important Takeaways
- Plastic and rubber toys remain popular materials for toy production, owing to superior durability and standardization for product quality.
- Ecommerce sales will reflect a relatively faster rate of growth, backed by internet penetration and discount offers from manufacturers.
- India is emerging as a high potential market owing to the expansion of the consumer class of millennial pet owners.
- The U.S. accounts for significant revenue share owing to consumer preference spending on pet luxury.
Pet Toys Market – Driving Factors
- Sustained growth in cat and dog ownership rates is a major factor positively influencing pet toy sales.
- The increasing popularity of facilities such as pet hotels and day care centers generate key growth opportunities.
- Major advances in products for cognitive training for pets is bolstering sales in the industry.
Pet Toys Market – Leading Constraints
- Concerns over the widespread proliferation of low-quality toys, by small-scale manufacturers is a key concern restricting adoption.
- Lack of awareness about toys for training purposes is restraining sales prospects around the world.
Expected Impact on Market by Coronavirus Outbreak
The global covid-19 pandemic had a moderately negative impact on the pet toys market. Restrictions on production operations and social distancing guidelines have limited manpower and disrupted supply chains during the crisis. In addition, restraints on international trade had affected product availability.
On the other hand, pet ownership rates have grown during the forecast period, creating sales opportunities for manufacturers, partially mitigating losses to manufacturers during the pandemic. Demand is expected recover steadily over the coming decade, with increasing sales activity occurring from online distribution channels.
Some of the major players participating in the pet toys market include but are not limited to Honest Pet Products, Central Garden & Pet Company, Company of Animals Ltd., Cosmic Pet, Petsport USA Inc., Zyppy Paws, Mammoth Pet Products, Radio Systems Corporation, Jolly Pets, Multipet, Fluff and Tuff Inc., Kyjen Company LLC, West Paw, KONG Company, Ethical Products Inc., Benebone LLC, Coastal Pet Products Inc., and Petmate.
Major manufacturers in the pet toys market have been largely involved in the launch of new products to bolster their product portfolios, in addition to strategies aimed towards licensing and geographical expansion.
In March 2021, PetSmart unveiled its Brain Games training course aimed towards mental stimulation goals including courses on dog reading, object recognition and more, improving communication between pet and owner. Further, Chewy, the online pet toy shop has unveiled a new range of 400 products for cats and dogs based on Marvel, Disney, Star Wars, and Pixar character designs. In December 2020, Pet Supplies Plus, announced the acquisition of 40 store locations from Pet Valu across Virginia, Indiana, Ohio, Kentucky, Pennsylvania, Maryland, and New Jersey.
Pet Toys Market by Category
By Product Type:
- Plush Toys
- Rope and Tug Toys
- Chew Toys
- Squeaky Toys
- Interactive Toys
By Pet Type:
By Material Type:
By Price Range:
- Economy (Below US$10)
- Mid-Range (US$10 – US$25)
- Premium (Above US$25)
By Sales Channel:
- Convenience Stores
- Multi-Brand Stores
- Online Retailers
- Pet Specialty Stores
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
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