Pet Toy Manufacturers Introducing Eco-Friendly & Safe Products to Gain Momentum: FMI Study
The global pet toys market is forecast to reach new heights amid growing pet ownership across several countries, projects FMI’s recently published report. This growth is due to the fact that pets need constant activity to remain fit and healthy.
Pet Toys Market
A recent market study published by Future Market Insights on the pet toys market offers gl...
In recent years, adverse environmental impacts concerning plastic toys is prompting pet owners to switch to more sustainable and safe options, prompting vendors to introduce toys made from nylon, rubber and other biodegradable material.
Players such as Simply Fido, West Paw, Olive, Funny Fur and Honest Pet Products are incorporating materials such as recycled polyester and cotton to manufacture their toys. Based on these trends, the market is set to reach a high valuation by the end of the 2020-2030 assessment period.
Key Takeaways from the Pet Toys Market Report
- Global pet toys market to expand at a 7.0% CAGR from 2020-2030
- East Asia likely to emerge as the fastest growing pet toys market, registering a staggering 14.5% CAGR
- Plush toys to capture 30% of the market by 2030
- High incidence of canine ownership provides traction to dog pet toys
- Rubber toys to register 179 million unit sales, attributed to high durability and tear resistance
- Small & medium-sized toys to collectively account for over 80% of the market revenue
- Premium category toys are gaining major traction, owing to heightened need for durable toys
“Prominent vendors rely on innovative product launches in order to increase their market footprint across prominent regions, accelerating growth prospects,” infers the FMI analyst.
COVID-19 Impact Insights
The COVID-19 pandemic has sustained the demand for pet toys, with pet owners working from home, leaving them with adequate time to interact and play with their pets. As a result, the demand is surging substantially, keeping the market afloat during the most crucial stages of the pandemic.
Owners are utilizing the lockdown period to keep their pets physically active by engaging them in several sporting and indoor physical exertion activities. It is not uncommon to witness pet owners spending a significant time in their backyard playing with their dogs or cats.
Prominent pet toy players rely on expanding their base by virtue of innovative product launches, strategic collaborations & mergers and expansion into potential markets.
For instance, ZippyPaws, a prominent pet toy manufacturer, has launched its Donutz series of latex chewable toys in the recent past. These donutz are specifically designed for pups but are suitable for dogs across all age groups and come in blueberry, strawberry and chocolate flavors respectively.
Likewise, in January 2020, Fluff & Tuff Inc. announced the development of new line of plush dog toys in order to celebrate their 10th anniversary with respect to the pet toy portfolio. In August, it launched the Bleu Narwhal 11-inches tusked plush toy with non-toxic polymers.
In 2019, Benebone LLC launched the Zaggler roll toy. This is the first prototype chew toy which moves as the dog plays with it. It is laced with bacon to retain the attention of the dog. The Zaggler is equipped with ridges to make it easier for paws to grip on to it while chewing.
More Valuable Insights on the Pet Toys Market
A recent market study published by Future Market Insights on the pet toys market offers global industry analysis for 2015-2019 & opportunity assessment for 2020-2030. The study offers a comprehensive assessment of the most important market dynamics. The report is segmented on the basis of product type (plush toys, rope & tug toys, balls, chew toys, squeaky toys, interactive toys and others), pet type (dogs, cats, birds and others), type (non-edible and edible), material type (rubber, cotton, nylon, plastics and others) and size (small, medium and large), price range (economy, mid-range and premium) and sales channel (wholesalers/distributors, supermarkets/hypermarkets, convenience stores, multi-brand stores, online retailers and pet specialty stores) across seven prominent regions.
About Consumer Products division of FMI
Expert analysis, in-depth insights, and strategic recommendations - the Retail & Consumer Products team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 500+ reports, the team has analyzed the consumer goods industry lucidly in 80+ countries for over a decade. We provide end-to-end research database on retail & consumer products market and consulting services; reach out to explore how we can help.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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