Global Pet Toys Market - 2023-2030

Market Overview

The Global Pet Toys Market reached US$ 8 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 13 billion by 2030. The market is expected to exhibit a CAGR of 6.5% during the forecast period 2023-2030.

Pets play with pet toys to burn off surplus energy. Pet toys offer stimulation and improvement for their body and mind. Pet owners frequently select dependable and secure items for their animals. The size, substance, play style, pet size, and degree of activity are all factors that affect how safe a toy is for a pet, which is increasing the personalized pet toys market demand.

The safety of pet toys varies based on the toy's construction, size, pet's dimensions, play style, and degree of activity. Dogs maintained as pets like interacting with interactive toys like fitness robots chew toys, hard balls, squeaky toys, and other balls. The demand for natural and eco-friendly pet toys has increased. To meet this increase in demand, businesses are launching new, creative eco-friendly pet accessories and toys, which in turn, is driving the pet toys market growth.

Market Dynamics

The Growing Popularity of Pet Ownership will Increase Demand for Pet Toys.

The growing demand for high-end pet animal toys and the concept of pet sitting fuel the growth of the pet toys market. The market has expanded due to the rise in pet adoption among customers in various areas, raising the demand for these toys. Maintaining an animal's health and welfare is the aim of pet grooming. The industry for pet care products has established itself and developed consistently over the past few decades.

For example, having cats and dogs is rather popular in the UK. 25% to 30% of British citizens kept cats as pets in 2020, numbering over 10 million to 12 million. This demonstrates the popularity of canine companions and the passion for feline mates in the U.K.

Demand for pet subscription boxes is increasing, which will spur industry expansion.

Subscriptions are growing in popularity, and the pet food industry is no different from other companies in this regard. Direct-to-consumer pet toy sales have risen before the COVID-19 epidemic. During the epidemic, subscription services for natural pet toys were growing. Playing together strengthens the ties between pets and their owners, encouraging the premiumization of pet supplies and toys.

Dogs, cats, and other animals are part of an unprecedented surge in pet ownership in the United States, which has boosted the demand for and cost of pet supplies. Customers are also looking for deals more than ever before, and subscription boxes offer decent returns on time and at competitive prices, increasing the demand for pet animal toys and consequently supporting the pet toys market opportunities.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The Global Pet Toys Market is segmented based on Pet Type, Product Type, distribution channel, and region.

In the Global Market of Pet Toys, the Plush Toys Segment Holds the Largest Market Share.

The Global Pet Toys Market has been segmented by product type into plush toys, rope toys, ball toys, and others. The plush toys segment held the largest pet toys market share of 34.4% in 2022 in the pet toys market analysis report.

Plush toys are projected to have a major share of the market since they are comfortable for pets to chew on and touch. As a result, pets become more conscious of these toys and more eager to play with them. Because of this, plush toy sales are increased by pet owners' preference for buying plush toys for their pets.

Furthermore, easier consumer access to smart plush toys is expected to promote category growth. Older pups and adult dogs enjoy carrying around, cuddling up to, and sleeping with their plush toys.

Geographical Analysis

The North America Held the Largest Share in Pet Toys Market.

The global pet toys market is segmented into five parts of the world based on geography: North America, South America, Europe, Asia Pacific, the Middle East, and Africa. The North America pet toys market held the largest market share of 32.5% in 2022 in the pet toys market analysis.

The number of Americans who own pets is rising significantly. Approximately 70% of American families, according to the American Pet Products Association, have a pet. The association's data shows that dogs are more frequently kept as pets than cats. American pet owners are prepared to spend money on pleasures and essentials for their animals because they take their responsibilities to their furry family members seriously.

In 2021, national pet spending climbed by 10% over the previous year, which is one of the factors that has encouraged or supported regional development in the U.S. Moreover, rising demand for puzzle toys and catnip toys is driving the pet toys market growth in the region.

Competitive Landscape

The major global players in the market include: Cosmic Pet, ZyppyPaws, Radio Systems Corporation, Ethical Products, Inc., Benebone LLC, Jolly Pets, Honest Pet Products, Coastal Pet Products, Inc., Central Garden & Pet Company, and Company of Animals, Ltd.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

The COVID-19 outbreak positively impacted the Global Pet Toys Market. According to recent Pet Food Manufacturer's Association data, 3.2 million families in the UK have added pets since the epidemic began (Paley, 2021). There are currently 17 million pet-owning households in the nation. As a result, pet ownership increased to 57% in May 2021 from previously stable levels during the preceding five years.

Young people have mostly driven the increase in pet ownership. Most recent epidemic, pet parents were between 16 and 34. Current pet owners are another important factor in pet purchases, with 42% getting a new pet since the lockdown. Interestingly, 74% of pet owners said their animal companion had improved their mental health during COVID-19.

Why Purchase the Report?

• To visualize the Global Pet Toys Market segmentation based on product type, pet type, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous pet toys market-level data points with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The Global Pet Toys Market Report Would Provide Approximately 93 Tables, 109 Figures And 190 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies