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The global pet toys market size was valued at USD 7.57 billion in 2021. The market is projected to grow from USD 8.01 billion in 2022 to USD 12.63 billion by 2029, exhibiting a CAGR of 6.73% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with pet toys experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a growth of 5.3% in 2020 as compared to 2019.
The growing trend of nuclear families is increasing the demand for pets among consumers, thereby surging the demand for pet toys. Nowadays, consumers are also looking for toys that are safer and more durable to be used by pets. The increasing demand for customized pet toy products is fueling the market. Moreover, the rising prevalence of pet hotels and daycare centers in emerging countries, such as India, China, and Brazil, among others, is projected to augment the market growth. Furthermore, the shifting preference of consumers toward sustainable pet toy materials, along with the accessibility of a wide variety of smart pet toys, has the potential to accelerate consumers’ spending on pet care. Pet care products are recently exhibiting a hike in demand as consumers have become more aware of the safety and comfort of their pets. In addition, the increasing pet humanization around the world is also projected to boost the growth of the pet animal toys market during the forecast period.
Disturbances in the Operation of the Distribution Channel due to COVID-19 Virus to Restrict Market Development
The coronavirus pandemic adversely impacted the pet toys market growth in 2020. The imposition of numerous lockdowns and barriers across the globe, has in turn declined the demand of these toys in the market. The shutdown of various local retail shops, mega stores and other brand stores in almost all the countries have impacted the demand for the pet animal toys. Additional, increased in the tariff rates and occurrence of trade barriers between United States and China have further suppressed the demand of the product during the predicted period.
Conversely, while the offline sales experienced a decline in the sales volume, the online sales saw a boost during the period of pandemic. Consumers were stuck inside their homes, which fostered the demand of the goods through several online portals and hence providing rewarding opportunity for the global market.
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Growing Trend of Nuclear Families to Influence Consumption Trends in the Near Term
A nuclear family can be considered a unit consisting of a couple, children, grandparents, and pets. In today's world, a family consists of two or more people who are emotionally related and live geographically close to each other. Therefore, the widespread nuclear family trend across the country has fueled pet ownership and is expected to continue over the forecast period. The trend for pets to instill human traits has raised concerns about the health and safety of pet owners. This increase results from the growing relationship between humans and animals, which determines how willing consumers spend more money on their pets.
Consumer preferences are always changing depending on their changing needs for different goods. Recently, people have been forced to live differently, which has changed their consumption patterns over time. Pet grooming states about the preservation of the animal's health and well-being. The pet care products market has been firmly established with steady financial growth over the past few decades. The concept of pet sitting and increasing disposable income of the consumers to purchase the premium quality pet animal toys is driving the growth of the market.
Rising Demand for Pet Subscription Boxes to Favor Market Expansion
Subscriptions are growing in popularity worldwide, and the pet food industry is no different. Direct-to-consumer pet toy sales were gaining momentum before the COVID-19 outbreak. During the pandemic, pet toy subscription services were on the rise. As people play with their pets, their relationships grow more and more, encouraging the premiumization of toys and items for pets. Some of these dogs, cats and other pets are part of an unprecedented increase in the figure of pet owners in the U.S., resulting in increased sales volume and value of pet products. Furthermore, customers are looking for deals more than ever in recent times, and subscription boxes are delivering reasonable returns on time at affordable prices, which increases the demand for pet animal toys and thereby contributes to the market’s growth.
Growing Popularity of Pet Ownership to Expand Product Demand
The idea of owning a pet as a preparation for parenting has gained prominence in recent years. In such cases, all necessities that can be provided to the child are provided for the pet. This pet parenting trend has encouraged pet owners to provide the most luxurious things possible for their pets as they would for their children or any other family member. The strong connection between individuals and their pets has encouraged pet owners to spend more on their luxuries. The prevalence of such a drift indicates an optimistic growth in market sales in the coming years. In addition, with the increasing inclination toward pet humanization, millions of people around the world now consider pets as part of the family. Therefore, the growing popularity of pet adoption among consumers in different regions has further boosted the demand for these toys, and thus fueled the market’s growth. For instance, besides dogs, cat ownership is also prominent in the U.K. In 2019, 20%-25% of the U.K. population owned over 10 million-12 million pet cats. This reflects that the love for feline friends in the U.K. is also prominent as canine friends.
Rising Occurrence of Skin Rashes among Pet Animals to Hamper Sales
Skin problems are common in dogs and cats and are one of the most common reasons owners take their pets to the vet. Pets mainly suffer from various diseases, including allergies, skin parasites, and skin infections, which the use of chemical substances can cause. Just like people, pets can be allergic to plastic toys and materials. Pets primarily exhibit skin allergies, rather than sneezing and hay fever, and can also develop recurrent skin and ear infections and even paw licking. Therefore, growing occurrences of skin rashes among pet animals due to the usage of chemical-based toys are projected to hinder market growth.
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Flexible Feature of Balls to Augment the Segment’s Growth
The market is segmented into plush, rope, balls, and others based on product type. The balls segment is estimated to grow significantly in the coming years as they are easy to play with and flexible for pets, which increases pets’ attention toward playing with such toys. Hence, pet owners mostly prefer to buy balls due to their flexible usage nature suitable for pets. Furthermore, increasing accessibility of customers for interactive toys is likely to surge the product demand.
Happier Nature of Dogs to Propel the Demand for Dog Segment’s
On the basis of on pet type, the market is segmented into dogs, cats, and others. The dogs segment is expected to lead the market owing to the large number of pet dogs around the world. Research showed that owning a dog is good for consumers physically and mentally. Dogs make people happier and healthier and help people cope with crises. The dogs offer unconditional love, emotional support, and constant hugs that help prevent social isolation. For instance, a national survey conducted by the Human Animal Linkage Research Institute of pet owners and non-owners found that 85% of respondents believe that interacting with animals helps to reduce loneliness. Most agree that human-pet interactions can help combat social isolation. Additionally, an inclusive evaluation of studies published between 1950 and 2019 stated that dog owners had a lesser risk of death, lower blood pressure, and better response to stress.
Offline Segment to Dominate Market Due to Growing Number of Pet Stores
Under the distribution channel, the market is divided into offline and online. The offline channels is estimated to grasp the largest stake in the market during 2021, owing to the wide availability of goods to the consumers in the offline stores. Moreover, the offline stores such as mega stores, specialty stores helps the consumer to wisely choose their products based on their requirements, which as a result fosters the segment’s demand.
Though the offline channels dominated the market, the online channels is also projected to grow with the fastest CAGR during the forecast period. Due to the ease of shopping and time saving, online channels also hold substantial share in the market.
North America Pet Toys Market Size, 2021 (USD Billion)
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On the basis of geography, the market is segmented into North America, Asia Pacific, Europe, Middle East and Africa, and South America.
The North America market holds the maximum share in the global market due to the increasing adoption of pets in countries such as U.S. and Canada. Consumers are progressively demanding for soft and convenient pet toy products, which drives the market growth of pet animal toys in the region during the forecast period. In addition, the presence of a large number of pet animals in the U.S. and Canada is surging the demand for these toys which, as a result, fuels the overall demand for the product in the region. For instance, according to the data published by American Pet Products Association, in 2019, 84.9 million households in the U.S. owned a pet.
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The enlargement of the pet dog and cat toy market in Europe is predicted to increase at a faster level in the coming years. The presence of a variety of renowned pet toy stores and pet products manufacturing units in countries, like the U.K. and Germany, among others, to improve distribution of pet toys to different parts of the world. For instance, according to the data published by the European Pet Food Industry Organization, in 2019, there were nearly 132 pet supplies companies comprising around 200 manufacturing units of toys in Europe.
Asia-Pacific will also likely to grip a portion of the share in the overall market during the forecasted period. The changing playing pattern and habits of pet animals in China is estimated to drive the demand for new kinds of pet toys in the region and thus foster the market’s growth. Moreover, the rapid construction of mega retail stores in the region, along with rising product innovation, is further projected to foster market demand.
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The markets of Middle East & Africa and South America regions are anticipated to be assisted by the continuous production of superior pet animal toy products combined with the constant support of the government for the manufacturing industry. Additionally, the growing pet humanization is expected to propel the demand for pet animal toys along with a cumulative demand for premium pet related products by the young population, which is likely to fuel the product’s demand in the region.
Technological Advancements to Drive Market Growth
The key players of the market are constantly aiming to implement new product launches by the embracement of technologically advanced pet care products in the market. The growing adoption of pets during corona virus pandemic has propelled the demand of the products in several areas. In recent times, the trend for smart, automated and handy pet animal toy items has amplified, which as a result, paved the ways for various business opportunities for the players in the future.
An Infographic Representation of Pet Toys Market
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The research report analyzes the market in-depth and highlights crucial aspects such as prominent companies, product types, and sales channels. Besides this, the report provides insights into the global pet toys industry trends and highlights significant industry developments. In addition to the aspects mentioned earlier, the report encompasses several factors contributing to the market's growth.
Value (USD Billion)
By Product Type
By Pet Type
By Distribution Channel
North America (By Product Type, Pet Type, Distribution Channel, and Country)
Europe (By Product Type, Pet Type, Distribution Channel, and Country)
Asia Pacific (By Product Type, Pet Type, Distribution Channel, and Country)
South America (By Product Type, Pet Type, Distribution Channel, and Country)
Middle East and Africa (By Product Type, Pet Type, Distribution Channel, and Country)
Fortune Business Insights says that the global market size was USD 7.57 billion in 2021 and is anticipated to reach USD 12.63 billion by 2029.
In 2021, the worldwide market value stood at USD 7.57 billion.
Ascending at a CAGR of 6.73%, the global market will exhibit steady growth over the forecast period (2022-2029).
By product type, the balls segment is expected to dominate the market throughout the forecast period (2022-2029).
The growing popularity of pet ownership is accelerating the market growth.
Central Garden & Pet Company, ZippyPaws, Radio Systems Corporation, Multipet International, Inc., Kyjen Company LLC, Kong Company, Benebone LLC, Petmate, Ethical Products, Inc., and Petsport USA, Inc. are the leading players worldwide.
North America dominated the global market in 2021.
The rising adoption of pets in various regions along with the expanding number of brands producing a wide range of pet toy products is favoring market expansion.
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