Key corporations lined in pet toys market are Kong Company (S), Benebone LLC (U.S.), Petmate (S.), Ethical Products, Inc. (S), Petsport USA, Inc. (S.), Central Garden & Pet Company (U.S.), ZippyPaws (S.), Radio Systems Corporation (S.), Multipet International, Inc. (S), Kyjen Company LLC (S), and extra gamers profiled.
Pet Toys Market
Pune, India, Dec. 12, 2023 (GLOBE NEWSWIRE) — The international pet toys market size was valued at USD 7.57 billion in 2021 and is projected to develop from USD 8.01 billion in 2022 to USD 12.63 billion by 2029, exhibiting a CAGR of 6.73% throughout the forecast interval.
This data is offered by Fortune Business Insights, in its report titled, “Pet Toys Market, 2023-2029.”
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List of Key Players Profiled within the Pet Toys Market:
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Kong Company (S)
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Benebone LLC (U.S.)
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Petmate (S.)
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Ethical Products, Inc. (S)
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Petsport USA, Inc. (S.)
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Central Garden & Pet Company (U.S.)
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ZippyPaws (S.)
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Radio Systems Corporation (S.)
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Multipet International, Inc. (S)
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Kyjen Company LLC (S)
Report Coverage:
The report gives an in depth examine of the market and a eager examination of the main segments of the market. It supplies an in-depth evaluation of key gamers and their insightful methods to spur the market progress for financial positive aspects. It additionally shares tangible insights which information business homeowners with their funding perspective. The regional dynamics and the way they form the market in an upward curve are offered within the following report. Moreover, COVID-19 impacts have been added for added data and the way it’s anticipated to have an effect on the demand for pet toys within the close to future.
Drivers and Restraints:
Rising Demand for Pet Subscription Boxes to Favor Market Expansion
Subscriptions are rising in reputation worldwide, and the pet meals business isn’t any totally different. Direct-to-consumer pet toy gross sales had been gaining momentum earlier than the COVID-19 outbreak. During the pandemic, pet toy subscription companies had been on the rise, as individuals play with their pets, their relationships develop increasingly more, encouraging the premiumization of toys and gadgets for pets. Some of those dogs, cats, and different pets are a part of an unprecedented improve within the variety of pet homeowners within the U.S., leading to elevated gross sales quantity and worth of pet merchandise.
COVID-19 Impacts:
Severe Supply Chain Disruptions Caused by COVID-19 Crisis to Impede Growth Momentum
The COVID-19 pandemic had a adverse affect on the pet toys market progress. Due to varied blockades world wide, producers are pressured to shut their manufacturing amenities as a result of labor shortages, which reduces the demand for pet care merchandise. In addition, a number of lockdowns world wide have negatively impacted the gross sales of pet animal toys because of the closure of specialty shops, supermarkets, and hypermarkets.
Segments:
By Product Type
By Pet Type
By Distribution Channel
By Geography
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North America
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Europe
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Asia Pacific
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the Middle East & Africa
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South America
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Regional Insights:
North America is projected to dominate the worldwide market, primarily because of the growing adoption of pets within the U.S., consequently driving the demand for mushy and pliable toy merchandise.
In Europe, the pet canine and cat toy market are anticipated to expertise speedy progress all through the forecast interval. This progress is attributed to the plentiful presence of pet shops and manufacturing items for pet merchandise in varied international locations throughout the area.
Meanwhile, the Middle East & Africa, in addition to South America, are anticipated to learn from the manufacturing of premium, high-quality pet animal toys. Manufacturers in these areas are inclined in direction of introducing new forms of pet toys, contributing to market growth in these areas.
Top Trends within the Global Pet Toys Market:
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Focus on Interactive Toys: Growing demand for interactive pet toys that interact animals mentally and bodily, selling train, psychological stimulation, and bonding between pets and their homeowners.
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Rise of Eco-Friendly Toys: Increasing desire for eco-friendly and sustainable pet toys constructed from pure supplies, reflecting the rising environmental consciousness amongst pet homeowners.
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Innovation in Smart Toys: Emergence of sensible and tech-integrated pet toys, akin to automated interactive gadgets and digital toys, providing comfort and leisure for pets even within the proprietor’s absence.
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Customization and Personalization: Demand for customizable pet toys, permitting homeowners to tailor merchandise to their pets’ preferences, sizes, and play kinds, enhancing engagement and satisfaction.
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Focus on Durability and Safety: Heightened emphasis on sturdy and protected toy supplies, making certain longevity and non-toxicity to stop any hurt to pets throughout playtime.
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Expansion of Specialty Toy Categories: Introduction of specialised toy classes catering to particular pets, akin to toys for small breeds, senior pets, or pets with particular wants, focusing on area of interest markets.
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Influence of Human Consumer Trends: Alignment of pet toy traits with human client traits, mirroring standard toy designs, colours, and kinds, interesting to pet homeowners’ preferences.
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Online Retail and Subscription Services: Increasing adoption of on-line platforms and subscription-based companies for buying pet toys, offering comfort and access to a wider vary of merchandise.
Competitive Landscape:
Important Business-related Announcements by Key Players to Influence Market Dynamics
Fundamental corporations available in the market typically make essential bulletins relating to some business strikes, which, in flip, have an effect on the market both positively or negatively. Players purchase corporations, launch new merchandise, interact in partnership offers, signal contracts with authorities organizations, and so forth.
Detailed Table of Content:
TOC Continued…!
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Key Industry Development:
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November 2022: Nylabone, a well-liked model of Central Garden & Pet Company, introduced the launch of its new vary of play toys for artistic enjoyable actions.
Read Related Insights:
Pet Clothing Market Size Projected to Attain $7 Billion by 2028 | Exclusive Report by Fortune Business Insights™
Pet Furniture Market Size to Hit USD 6.09 Billion by 2030 | With a CAGR 6.14%
Pet Care Market Size Projected to Attain $368.88 Billion by 2030 | Exclusive 100-Pages Research Report
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