The United States pet toys market commands an impressive 88.2% share. Pet ownership is rapidly increasing, with the American Pet Products Association reporting that about 70% of U.S. households have pets, predominantly dogs over cats.
American pet owners take their responsibilities seriously, investing in both necessities and luxuries for their furry companions. Notably, pet spending surged by 10% in 2017 compared to the previous year, driving significant regional growth in the industry.
According to projections by FMI, the pet toys market is on an impressive trajectory, expected to reach a value of USD 5.90 billion by 2033, up from USD 2.89 billion in 2023. This growth, representing a CAGR of 7.4%, is fueled by increasing spending from pet owners across both residential and commercial sectors, including homes, pet hotels, and daycare facilities.
Key Takeaways
- The pet toys market is set to reach USD 5.90 billion by 2033, up from USD 2.89 billion in 2023.
- A robust CAGR of 7.4% is expected as spending by pet owners continues to rise.
- Demand for personalized pet toys is driving innovation and customization options.
- Smart pet toys, including AI-powered interactive options, are transforming pet entertainment.
- The pet parenting trend is prompting owners to spend more on luxury items for their pets.
- Direct-to-consumer sales channels are gaining popularity, reshaping market dynamics.
- The emergence of private label brands is revolutionizing retail in the pet toy sector.
Regional Insights
- United States: Dominating the pet toys market with an 88.2% share in 2022, driven by a high pet ownership rate, where approximately 70% of households own a pet. Pet spending has surged by 10% since 2017.
- United Kingdom: The growing pet culture is fostering increased adoption of pet toys, with significant ownership of both dogs and cats, enhancing demand in this sector.
- India: Rapid pet adoption, particularly among millennials, accounts for 36.9% market share in 2022, with changing consumer behavior favoring premium products for pets.
- China: The market is expanding due to rising pet ownership, disposable income, and online purchasing acceptance, holding a 45.1% share in 2022.
- Germany: As Europe’s leading market with a 25% share, the demand for eco-friendly and instructional pet toys is driving growth, alongside increasing pet ownership.
Competitive Landscape
The global pet toy market remains highly fragmented, with numerous competitors vying for market share. The rapidly evolving pet culture in low- and middle-income countries presents new opportunities for major players. In response to rising sustainability concerns, companies are increasingly focusing on natural products made from sustainable resources.
This sector is highly competitive, with a strong presence of regional and local brands. Expanding market reach is essential for outperforming rivals and driving sales growth. To broaden their audience, manufacturers are enhancing market penetration by partnering with online pet care retailers such as Amazon, Walmart, Chewy, and Petco. These growth strategies are expected to significantly boost product adoption.
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.
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
- Mammoth Pet Products
- Petsport USA, Inc.
- Company of Animals, Ltd.
- Honest Pet Products
Tap into Expertise: Discuss with Our Analyst on Email: sales@futuremarketinsights.com
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.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube