The pet toys market is projected to rise at a healthy 7.2% CAGR for the period of projection from 2021 to 2031. The growing rate of pet ownership, increased interest in pet humanization trends, and the development of pet care hospitality facilities are key factors that contribute to the rise of the pet toys market. Consumers are increasingly looking out for customized and personalized products for individual pets, despite higher prices. In addition, the trend of using toys for behavioral training is expected to influence developments within the market.
“Pet owners have increasingly expressed interest in purchasing sustainable products while maintaining safety standards for animals. This, in turn, has encouraged pet toy manufacturers to explore natural materials for their offerings in line with the needs of eco-conscious pet parents,” says the FMI study.
Request a report sample to gain comprehensive market insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-12550
Pet Toys Market – Important Takeaways
- Plastic and rubber toys remain popular materials for toy production, owing to superior durability and standardization for product quality.
- Ecommerce sales will reflect a relatively faster rate of growth, backed by internet penetration and discount offers from manufacturers.
- India is emerging as a high potential market owing to the expansion of the consumer class of millennial pet owners.
- The U.S. accounts for significant revenue share owing to consumer preference spending on pet luxury.
Pet Toys Market – Driving Factors
- Sustained growth in cat and dog ownership rates is a major factor positively influencing pet toy sales.
- The increasing popularity of facilities such as pet hotels and daycare centers generates key growth opportunities.
- Major advances in products for cognitive training for pets is bolstering sales in the industry.
Pet Toys Market – Leading Constraints
- Concerns over the widespread proliferation of low-quality toys, by small-scale manufacturers, are a key concern restricting adoption.
- Lack of awareness about toys for training purposes is restraining sales prospects around the world.
Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/12550
Expected Impact on Market by Coronavirus Outbreak
The global covid-19 pandemic had a moderately negative impact on the pet toys market. Restrictions on production operations and social distancing guidelines have limited manpower and disrupted supply chains during the crisis. In addition, restraints on international trade had affected product availability.
On the other hand, pet ownership rates have grown during the forecast period, creating sales opportunities for manufacturers, partially mitigating losses to manufacturers during the pandemic. Demand is expected to recover steadily over the coming decade, with increasing sales activity occurring from online distribution channels.
Competitive Landscape
The global pet toys market remains highly unorganized with a large number of players operating in the industry. The rapidly enhancing pet culture in the low and middle-income countries is further expected to open up new opportunities for players operating. In light of growing sustainability, the players have resorted to natural offerings made with sustainable materials.
All of such factors are expected to drive adoption of pet toys in the market in coming years.
Some of the leading companies operating in the market are:
- Central Garden & Pet Company
- Cosmic Pet
- ZyppyPaws
- 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
- Mammoth Pet Products
- Petsport USA, Inc.
- Company of Animals, Ltd.
- Honest Pet Products
Download Complete TOC Of this Report @ https://www.futuremarketinsights.com/toc/rep-gb-12550
Pet Toys Market by Category
Product Type
- Plush Toys
- Rope and Tug Toys
- Balls
- Chew Toys
- Squeaky Toys
- Interactive Toys
- Others
Pet Type
- Dogs
- Cats
- Birds
- Others
Material Type
- Rubber
- Cotton
- Nylon
- Plastic
- Others
Type
- Non-Edible
- Edible
Size
- Small
- Medium
- Large
Price Range
- Economy (Below US$10)
- Mid-Range (US$10 – US$25)
- Premium (Above US$25)
Sales Channel
- Wholesalers/Distributors
- Supermarkets/Hypermarkets
- Convenience Stores
- Multi-Brand Stores
- Online Retailers
- Pet Specialty Stores
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa (MEA)
- Oceania