According to a new market projection by Future Market Insights (FMI), the global pet toys market is set to experience substantial growth, with the market size reaching USD 5.90 billion by 2033. This growth comes as the pet care sector continues to thrive, driven by increasing spending on pets and the rise in pet adoption globally.
The pet toys market was valued at USD 2.89 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.4% over the next decade. The market’s expansion is supported by a shift in pet owners’ attitudes toward their pets, with many viewing pets as integral members of the family. This shift is leading to higher spending on luxury items, including specialized pet toys.
Key Drivers of Growth
- Personalization and Customization
One of the significant trends in the pet toys market is the growing demand for personalized products. With an increasing focus on providing pets with the best possible care, consumers are looking for toys tailored to their pets’ needs. Companies like Shutterfly, Inc. have already begun offering customizable options, allowing pet owners to select specific styles, sizes, colors, and designs. As the market becomes more consumer-centric, the demand for these personalized pet products is expected to drive substantial growth. - Technological Advancements: The Rise of Smart Toys
As technology continues to advance, the pet toys sector is witnessing the emergence of smart pet toys that are reshaping the industry. Millennial pet owners, known for their tech-savvy lifestyle, are increasingly investing in high-tech pet entertainment solutions, such as AI-powered interactive robots. Products like Felik, a smart pet toy with an integrated camera and AI for motion tracking, are becoming popular as they provide automated pet entertainment and eliminate the need for manual control. This adoption of smart and interactive toys is expected to grow the market significantly. - Interactive Toys and Digital Engagement
Interactive pet toys, which make use of digital platforms such as smartphone apps and websites, are also on the rise. These toys enhance the engagement between pets and their owners and are quickly becoming a significant segment in the market, with interactive toys representing about 10-15% of the pet toy industry. This segment is projected to see rapid growth due to its appeal to tech-oriented pet owners.
Regional Market Insights
- United States: Dominating the market with a share of 88.2% in 2022, the United States is seeing significant growth in pet toy sales, driven by an increase in pet ownership and high levels of pet spending. The growing number of pet parents viewing pets as family members is fueling this demand.
- United Kingdom: The rising pet adoption rate in the UK, especially among cat owners, is propelling the growth of pet toy sales. With pet culture deeply rooted in the country, more households are investing in high-quality pet toys.
- India: Pet adoption among millennials in India is increasing rapidly, with Indian millennials following Western trends of treating pets as family members. This cultural shift is expected to lead to increased spending on pet products, including toys.
- China: With a large share of 45.1% of the market in 2022, China is benefiting from a rise in pet ownership, increasing disposable income, and the growing popularity of online pet product purchases.
Product and Material Trends
- Chew Toys: Chew toys remain the top-selling category, making up 29.1% of the market. Their ability to provide dental benefits and relieve anxiety for pets is a major selling point.
- Rubber and Plastic Materials: Rubber, a safe material for pets’ teeth, and plastic, accounting for 27% of the market, continue to be the most commonly used materials in pet toy production. Rubber toys, in particular, are expected to see a CAGR of 7.3% from 2023 to 2033.
- DIY Products: The growing trend of Do-It-Yourself (DIY) pet toys, driven by cost-conscious consumers, is adding an interesting dimension to the market. Many pet owners are creating their own toys at home using affordable materials, supported by a wealth of online content and tutorials.
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.
For instance
- A new interactive pet toy that lets pet owners control the toy’s movement and sound was released by PetSmart.
- Hasbro and Petco worked together to introduce a line of pet toys.
- A new line of interactive pet toys and toys that disperse treats were introduced by Kong Company, Inc. in June 2019
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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
About Future Market Insights (FMI)
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.
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