Pet Toys Market 2024-2033: Competitive Landscape and Key Player Strategies

Overview and Scope
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.

Sizing and Forecast
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.

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Segmentation & Regional Insights

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

North America was the largest region in the pet toys market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet toys market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
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 pet toys market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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