Pet Toys Market Set for Strong Growth, Expected to Reach USD 5.90 Billion by 2033

According to a recent report by Future Market Insights (FMI), the global pet toys market is on a rapid growth trajectory, with a projected valuation of USD 5.90 billion by 2033, up from USD 2.89 billion in 2023. This growth is expected to be fueled by an impressive CAGR of 7.4% from 2023 to 2033, driven by the increasing amounts pet owners are spending on their furry companions.

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Key Market Trends and Insights

Personalization and Customization:

As the pet care industry continues to boom, manufacturers are increasingly offering personalized pet toys. Consumers are able to customize toys in terms of size, design, style, and color, catering to the specific needs of their pets. Companies like Shutterfly, Inc. are capitalizing on this demand, helping to drive the growth of the market. The ability to create personalized products is expected to be a key factor in boosting sales in the coming years.

Rise of Smart Pet Toys:

Technological advancements are reshaping the pet toys market. Millennial pet owners, known for their tech-savvy nature, are fueling the demand for smart pet toys. Innovations such as AI-powered interactive robots and smart pet cameras like the Felik toy, which tracks a pet's movements, are becoming popular. These smart toys not only entertain pets but also reduce the need for manual interaction from owners, a trend that is gaining momentum in the market.

Interactive Toys on the Rise:

Interactive pet toys, which account for 10-15% of the pet toy market, are also gaining in popularity. The rise of digital platforms such as websites, apps, and social media is contributing to this trend. These toys encourage pet engagement, further spurring market growth.

Shifting Sales Channels:
Manufacturers are increasingly shifting from indirect distribution methods to Direct-to-Consumer (DTC) channels. This shift, supported by the expansion of digital platforms, is enabling brands to engage directly with customers, boosting brand awareness and profitability.

Private Label Growth:

The rise of private label brands in the pet toys sector, offered by well-established pet care retailers, is another major trend reshaping the market. Brands like Vibrant Life (introduced by Walmart) are driving competition with cost-effective, high-quality products.

DIY Pet Toys:

The growing DIY trend is impacting pet toy sales, with price-conscious consumers opting to create toys at home rather than purchase them. As more content emerges around DIY pet toys, including articles and tutorials, consumers are becoming increasingly motivated to make their own pet entertainment solutions.

Regional Insights

United States: The U.S. dominated the pet toys market in 2022 with a share of 88.2%. With nearly 70% of U.S. households owning a pet, the demand for pet products continues to grow. Pet spending surged by 10% in 2017, and this trend is expected to continue, supporting further market growth.

United Kingdom: Increasing pet ownership in the UK, particularly among cat owners, is driving the adoption of pet toys. Cats now account for 20%-25% of pet ownership, further contributing to the market's expansion.

India: Pet adoption in India is rapidly increasing, particularly among millennials who are driving a cultural shift towards treating pets like family members. The trend of gifting and spoiling pets with premium toys is expected to boost sales in the coming years.

China: With a market share of 45.1% in 2022, China is experiencing substantial growth in the pet toys market. Rising disposable incomes, the increasing acceptance of online shopping, and the rise of pet-friendly services are expected to support continued market expansion.

Germany: Germany, with a 25% market share in 2022, leads the pet toys market in Europe. The growing demand for eco-friendly and pet-safe toys, along with a strong preference for interactive and educational pet toys, is driving the market in this region.

Product Trends:

Chew Toys: Chew toys remain the top-selling category, accounting for 29.1% of the market share in 2022. They play a vital role in pet health, providing relief from separation anxiety and helping with oral care.

Plush Toys: Plush toys, known for their durability and ability to withstand rough play, are also experiencing strong demand and are projected to grow at a CAGR of 9.7% during the forecast period.

Materials: Rubber and plastic are the most popular materials for pet toys due to their safety and durability. Rubber, in particular, is expected to register a CAGR of 7.3%.

Key players

• Central Garden & Pet Company
• Cosmic Pet
• ZippyPaws
• Radio Systems Corporation
• Multipet
• Kyjen Company LLC
• KONG Company
• Benebone LLC
• Petmate
• Coastal Pet Products, Inc.
• Ethical Products, Inc.
• West Paw
• Fluff and Tuff, Inc.
• Jolly Pets

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Key segments

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

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.