Pet Toys Global Market Report 2024 - By Size, Share, Growth, Trends, Forecast To 2033

The pet toys market size has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $3.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to demand for private labels, rising demand for pet subscription boxes, increasing popularity of pet ownership, increasing adoption of pets, growing interest in eco-friendly and sustainable pet toys.

The pet toys market size is expected to see strong growth in the next few years. It will grow to $4.42 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing demand among millennials and young kids, growing popularity of pet ownership to expand product demand, increasing demand for pet subscription boxes, growing focus for pet humanization and the introduction of new creative eco-friendly pet accessories and toys are key drivers of the market, increasing number of pet owners worldwide. Major trends in the forecast period include surging e-commerce industry, nuclear families trend trend-fueled the pet ownership, interactive smart toys, customizable toys, and fetch tech.

Market Overview -
Pet toys are products designed specifically for pets to play with and enjoy. They are designed to provide entertainment, mental stimulation, physical exercise, and dental health benefits for pets, contributing to their overall well-being and happiness.

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Surging Pet Ownership Ignite Booming Growth In The Pet Toy Market
The increasing popularity of pet ownership is expected to propel the growth of the pet toy market going forward. Pet ownership refers to the act of keeping a domesticated animal for companionship or emotional support. Pet ownership is rising as a result of a number of causes, such as shifting social standards, growing knowledge of the advantages of pet ownership, and the use of social media. Toys encourage pets to stay active and engaged, promoting physical fitness and helping to maintain a healthy weight. Playing with toys can strengthen the bond between pets and their owners. For instance, in 2023, according to the American Pet Products Association, a US-based non-profit association, the number of U.S. households with pets reached 70 million in 2021, which is a significant increase from previous years. Furthermore, in November 2022, according to a national survey of pets and people published by Animal Medicines Australia (AMA), an Australia-based industry body representing the leaders of the animal health industry in Australia, about half of Australian households have at least one dog, making them the most common pet. Therefore, the increasing popularity of pet ownership is driving the growth of the pet toy market.

Competitive Landscape -
Major companies operating in the pet toys market are Petmate, Radio Systems Corporation, Multipet International Inc., Coastal Pet Products Inc., ChuckIt, The OurPet's Co., Worldwise Inc., Company of Animals Ltd., Pet Qwerks Inc., Ethical Products Inc., ZippyPaws, Outward Hound, KONG Company, The Hartz Mountain Corporation, Jolly Pets, Benebone LLC, Honest Pet Products LLC, Mammoth Pet Products, West Paw, Petsport USA Inc., Fluff and Tuff Inc., Kyjen Company LLC, Starmark Academy

The Rise Of Interactive Smart Pet Toys For Remote Engagement And Entertainment
Major companies operating in the pet toy market are developing innovative products, such as interactive smart pet toys, to entertain pets and drive their revenues in the market. Interactive smart pet toys are innovative gadgets designed to engage and entertain pets, such as dogs and cats, through various interactive features. These toys often incorporate elements of automation, app control, and interactivity to provide mental stimulation, physical exercise, and entertainment for pets, even when they are home alone. For instance, in March 2021, Shenzhen Skymee Technology Co., Ltd., a US-based pet toys manufacturing company, launched the SKYMEE Owl Robot, which allows pet owners to monitor and interact with their pets remotely. The robot is an interactive pet toy equipped with a 1080p camera, a treat dispenser, and the ability to communicate with pets through built-in speakers and microphones. It can be controlled via a mobile app, allowing pet owners to monitor and interact with their pets remotely.

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Key Segments -
The pet toys market covered in this report is segmented -
1) By Product Type: Plush Toys, Rope and Tug Toys, Balls, Chew Toys, Squeaky Toys, Interactive Toys
2) By Material Type: Rubber, Cotton, Nylon, Plastic, Other Material Types
3) By Distribution channel: Online, Offline
4) By Application: Bird, Cat, Dog, Horse, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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