Pet Toys Market

2020 Analysis and Review: Pet Toys Market by Product Type – Plush Toys, Ropes & Tugs Toys, Balls, Chew Toys, Squeaky Toys, and Interactive Toys for 2020 – 2030

Introduction

Pet toys refer to all products intended to stimulate a pet’s physical exertion or to provide training. Pet toys are highly useful in encouraging the positive development of an animal’s overall health and offsetting problematic behavior due to excessive energy storage.

Toys offer physical as well as mental stimulation and enrichment, improving a pet’s overall concentration and cognitive abilities. A variety of toys have become popular in the market. These include balls, plush toys, squeaky toys, interactive toys and others, available in the economy, mid-range and premium price levels.

According to Future Market Insights’ (FMI’s) projections, the global pet toys market is expected to record an impressive 7.0% value CAGR throughout the 2020-2030 forecast period, reaching a valuation of ~US$ 5 Bn by 2030-end.

Increasing Pet Ownership Spurs Growth

Rising per capita income across the world is leading to an increase in pet ownership. According to the Growth from Knowledge, more than half of the people globally have a pet at home. Argentina has the highest number of pet ownership, with 66% of the population owning a dog.

This is followed by Mexico (64%) and Brazil (58%). Also, Asia’s pet industry was projected to grow at 14.3% annually from 2016 to 2021. Based on the aforementioned statistics, it is no surprise that the market for pet toys is scheduled to generate green spaces throughout the predicted forecast period.

Eco-friendly Products Gaining Traction

Rising concerns regarding environmental sustainability have fuelled the demand for eco-friendly and biodegradable toys. Owners are becoming highly aware about the threat posed by conventional plastic and rubber toys to the environment and are therefore making conscious efforts to opt for more sustainable alternatives.

Capitalizing on this trend, manufacturers have flooded the global pet toys market with earth friendly toys. Examples of such toys are the West Paw Design Zogoflex® Hurley Dog Toy, the Hagen Dogit Eco Terra Natural Canvas/Cotton Toy and Striped Hemp Eco Friendly Dog Bone Toy to name a few.

Humanization Trends to Stimulate Growth

Pet humanization, or anthropomorphism, is becoming a common phrase within the pet industry as more owners want to provide their pets with human like products or experiences. This includes celebrating birthdays, grooming them for fancy dress competitions and purchasing premium quality toys for them to play with.

Several countries across Asia, especially in India, China and Southeast Asia, pets are considered part of the family. Cultural and religious tenets require people across these regions to inculcate a habit of compassion towards other living creatures. Consequently, pet ownership is increasing in these countries.

Due to this surging humanization trend, the sales of pet toys around the world are bound to register a phenomenal increase in the coming decade. Humanizing pets opens doors for many in the pet industry because it stirs different thoughts that lead to the possibility of a new innovative product.

Key Challenges

A major factor impeding pet toys market growth is their expensive price. This is because premium quality toys are manufactured from safe, non-toxic materials which involve a high production cost. To offset this, manufacturers have to impose a high retail price, rendering them unaffordable to moderate income consumers.

Moreover, inexpensive toys, particularly those made in countries with lax safety standards have been found to contain elevated levels of toxins such as lead and cadmium. This is compelling consumers across high-income countries to shift towards premium toys, thus restricting the scope of mid-range and economy range toys.

Pet Toys Market- Regional Analysis

North America Pet Toys Market

The pet industry in North America is witnessing a prolific expansion, attributed to rising ownership of dogs and cats across individual households. This has ultimately provided massive traction to pet care products such as food, toys and cosmetics in recent years.

According to the American Pet Products Association (APPA), total pet industry expenditure across the United States is estimated to reach US$ 99 billion by 2020-end, up from US$ 95.7 billion in the previous year.

A significant chunk of this expenditure is allocated to pet toys. Future Market Insights predicts a revenue share worth US$ 2.3 Bn for the North American market by 2030. As of 2016, nearly 57% of all US households owned a pet, with dogs and cats as the most popular choices.

Capitalizing on this trend, a number of regional vendors have sprung into existence, concentrating on offering specialized and customized pet toy products, rendering the region an extremely fertile revenue field.

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East Asia Pet Toys Market

The East Asia pet toys market is scheduled to emerge as the fastest growing landscape, expanding dexterously at a 14.5% CAGR from 2020-2030. A market share of 18.5% is projected for this region by 2030.

Changing lifestyles in the wake of higher per capita incomes is accelerating demand for premium products, thus motivating players to introduce high quality pet toys across regional markets. Moreover, the proportion of pet ownership across China and South Korea is propelling the East Asian market growth.

The advent of COVID-19 has accelerated online sales of pet toys throughout East Asia. Players are leveraging e-commerce platforms or incorporating their own online portals to make their products available to potential customers.

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South Asia Pet Toys Market

The South Asian market is forecast to emerge as the 3rd fastest expanding pet toys market, recording a CAGR worth 12.3% across the assessment period. Rapid urbanization and shift towards nuclear families are attributed as principal driver behind rising pet ownership.

India is likely to be the frontrunner of the South Asian market, given the fact that there are nearly 19 million pets, out of which 80% are dogs. On an average, 600,000 pets are adopted annually. Naturally, pet care expenditure is on the rise, providing credible ground for toy growth proliferation.

Besides, the trend of humanizing pets is also leading to an upsurge in pet toy expenditure. Several Indian families believe that animals must be treated compassionately since they too are living creatures. Thus, they are purchasing more and more pets and treating them like family members.

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Category-wise Insights

Plush Toys Emerge Dominant

The plush toys segment is anticipated to be the dominant category of pet toys, exhibiting a CAGR of 8.6% throughout the forecast period. Plush toys are highly preferred due to their soft composition. Additionally, these are also a source of companionship for the pets as they assume an animal’s shape.

In most cases, pets, especially dogs and cats, have a habit of chewing their toys as a stress busting activity. Oftentimes, they ingest certain fragments which may prove hazardous for them. Therefore, chew toys made from safe materials are gaining significant momentum, capturing over a quarter of the market share.

Dog Toys Remain in High Demand

Rising ownership of dogs around the world is stimulating the sales of dog toys, slated to record over 200 million sales in volume terms by 2030. Prominent brands such as the Haute Diggity Dog Muttini Bar Collection and HDP Kong Rubber Ball Extreme are swiftly garnering immense traction amongst dog lovers.

The cat toys market segment is expected to be the 2nd most lucrative revenue generator, recording a ~6.0% CAGR and a valuation of US$ 1.6 Bn by 2030. Ease of care and better cleanliness instincts are prompting people to purchase cats as pets instead of dogs, thus broadening prospects for cat toys.

Chewable Rubber Toys Gaining Momentum

Chewable rubber toys are acquiring significant momentum, accounting for more than 40% of the revenue share by 2030 and recording a stupendous CAGR of 9.7% throughout the forecast period. These toys are highly suitable for pets exhibiting aggressive biting and chewing behavior. Moreover, they are made from safe non-toxic material.

In recent years, nylon toys have become highly popular amongst pet lovers. The segment is projected to expand the fastest, registering a 7.3% CAGR until 2030. Nylon toys are extremely durable, water-resistant and easily cleanable, which is why they are garnering immense traction across pet owners.

Small and Medium Sized Toys Record Maximum Sales

Small and medium sized toys are collectively anticipated to account for more than 4 out of 5 purchases across the 2020-2030 forecast period. Both categories are expected to generate nearly US$ 4 Bn in revenue. In volume terms, they are slated to register over 300 million sales.

Several vendors are maximizing their presence in the small and medium sized pet toys landscape. Exivy LLC is a prominent pet products supplier, manufacturing the EXIVY Suction Cup Dog Toy and Pet Molar Bite Toy for small to medium sized dogs.

Economy Price Range Remains Kingpin

Economy price range toys are slated to remain the kingpin of the global pet toys market. This is mainly because a majority of pet owners reside in developing regions where per capita income levels are much lesser compared to the developed world. A 40% market share is projected for this segment.

Simultaneously, increasing demand for safe and good quality toys is accelerating demand for premium toys, registering a healthy CAGR of 8.4% throughout the forecast period. Majority of the sales are being recorded across Europe, North America and East Asia. This is due to higher disposable incomes of consumers.

Online Retails are Sought After

Online retail is poised to be the fastest growing sales channel in the upcoming forecast period, attributed to deepening internet penetration and heightening digital literacy. Moreover, declining footfalls across conventional brick and mortar stores due to the pandemic has also contributed to the heightening share of e-commerce channels.

Several online pet stores such as PETSGONUTS, PETSWORLD, Marshall’s Pet Zone and PETSHOP 18 are acquiring surging popularity among pet owners across India. Additionally, prominent players are also exploiting e-commerce platforms such as Amazon and Alibaba to penetrate the virtual market.

COVID-19 to have Negligible Impact

While the novel coronavirus pandemic continues to take a heavy toll on human lives, there is little to no evidence of the pathogen infecting animals. Nevertheless, pet owners are taking the utmost care by limiting their pets’ exposure to the outdoor environment.

As restrictions on travel continue remaining in place, pet owners are working from home, leaving them with adequate time to interact and play with their pets. As a result, the demand for pet toys 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.

The demand for pet toys is primarily being sustained due to a spike in e-commerce transactions. With lockdown restrictions not permitting owners to visit conventional supermarkets or pet stores, the amount of time spent on online shopping has surged multifold. Several manufacturers have launched their own online portals to sell their products.

Therefore, a steady growth curve is anticipated to prevail throughout the pandemic’s duration.

Competitive Landscape

The global pet toys market is characterized by the presence of multiple global and regional players. Prominent players within this industry include, but are not limited to*:

  • The OurPet’s Co.
  • ZippyPaws
  • Fluff & Tuff Inc.
  • Multipet International
  • Outward Hound
  • Kong Company
  • Pet Qwerks Inc.
  • Benebone LLC
  • Chuckit
  • Jolly Pets
  • Nylabone
  • Petmate
  • JW Pet Company Inc.
  • Coastal Pet Products Inc.

*This list is only indicative- full list of global pet toys market players is available upon request.

Market players rely on expanding their base by virtue of innovative product launches, strategic collaborations & mergers and expansion into potential markets. Of late, several players are also attempting to broaden their digital footprint by introducing online portals or collaborating with e-commerce giants.

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.

Pet Toys Market- Report Scope

Attribute

Details

Forecast Period

2020-2030

Historical Data Available for

2015-2019

Market Analysis

US$ Mn for Value and Mn Units for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa (MEA)

Key Countries Covered

U.S, Canada, Mexico, Brazil, Argentina, U.K, Germany, Italy, Spain, France, BENELUX, Nordics, Russia, India, Thailand, Indonesia, Malaysia, China, Japan, South Korea, Australia, New Zealand, GCC and South Africa

Key Segments Covered

Product Type, Pet Type, Type, Material Type, Size, Price Range and Sales Channel

Key Companies Profiled

  • The OurPet’s Co.
  • ZippyPaws
  • Fluff & Tuff Inc.
  • Multipet International
  • Outward Hound
  • Kong Company
  • Pet Qwerks Inc.
  • Benebone LLC
  • Chuckit
  • Jolly Pets
    • Others
Report Coverage Market Overview, Key Trends, Success Factors, COVID-19 Analysis, Demand Analysis, Market Background, DROT Analysis, Segmental Analysis, Regional Profiling and Competitive Landscape
Customization & Pricing Available upon Request 

Key Questions Answered in the Report

  • Predict the likely growth trajectory of the global pet toys market.

    The global pet toys market is expected to grow at a value CAGR of 7.0% throughout the 2020-2030 forecast period. The market is slated to reach US$ 4.7 Bn by 2030, selling 394 million units of toys around the world.

  • What drives the pet toys market towards higher growth?

    Rising pet ownership across emerging and established markets is attributed as the chief growth driver of the global pet toys market in the upcoming decade’s forecast period. Additionally, the introduction of fancy toys to enhance aesthetic appeal is also maximizing sales for the long-term

  • Which pet type toys are expected to be most popular?

    Dog toys are expected to witness maximum sales, attributed to increasing canine ownership across several countries. Dogs are considered to be the most loyal pets, even endangering their own lives to protect their owners. This attribute makes them highly sought after as companions.

  • Highlight the possible restraints to pet toys market expansion

    High prices of good quality toys render them unaffordable to pet owners with moderate incomes, forcing them to purchase cheaper alternatives. These inexpensive toys are often of inferior quality and may become unusable after a certain time period. This is impeding growth prospects for pet toys.

  • Identify the main pet toys hotspot in the global market.

    North America is likely to pivot the global pet toys market, capturing nearly half of the overall revenue share in 2030. However, East Asia is anticipated to be the fastest growing region, registering a dexterous CAGR throughout the forecast period.

  • How is the COVID-19 pandemic expected to shape the pet toys market growth?

    The COVID-19 pandemic has brought the entire world to a screeching halt, with business organization encouraging employees to work from home. This has allowed pet owners to spend a far greater amount of time interacting with their animal companions.

    This increasing time spent bonding with their furry companions has led them to increase purchases of various toys to keep them entertained and active. Furthermore, fears of contracting the virus has prevented owners from taking their pets outdoors as a precaution, though evidence is limited of the pathogen infecting animals.

    All the aforementioned developments will accelerate the sales of pet toys across the short term forecast period.

  • Evaluate the degree of market competitiveness for pet toys between 2020 and 2030.

    The pet toys market is interspersed with several global and regional level players vying to consolidate their presence through innovative product launches and strategic collaborations.

    Prominent players include The OurPet’s Co., ZippyPaws, Fluff & Tuff Inc., Multipet International, Inc., Outward Hound, Kong Company, Pet Qwerks, Inc., Benebone LLC, Chuckit, Jolly Pets, Nylabone, Petmate and JW Pet Company Inc., among others.

Enquiry before Buying

  • Is this research conducted by Future Market Insights?

    Yes, the pet toys market research has been conducted by expert analysts of Future Market Insights through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to the research analyst

  • What research methodology is followed by FMI?

    FMI follows a methodology that encompasses the demand side assessment of the market, and triangulates the same through a supply side analysis. This methodology is based on use of standard market structure, methods and definitions.

  • Who are the respondents for primary research?

    FMI speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    FMI conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample and it will be sent to you through an email.

  • How can I buy this report?

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Key Segments

Product Type

  • Plush Toys
  • Rope & Tug Toys
  • Balls
  • Chew Toys
  • Squeaky Toys
  • Interactive Toys
  • Others

Pet Type

  • Dogs
  • Cats
  • Birds
  • Others

Type

  • Non-edible
  • Edible

Material Type

  • Rubber
  • Cotton
  • Nylon
  • Plastic
  • Others

Size

  • Small
  • Medium
  • Large

Price Range

  • Economy
  • Mid-range
  • Premium

Sales Channel

  • Wholesalers/Distributors
  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Multi-brand Stores
  • Online Retailers
  • Pet Specialty Stores

Region

  • North America (U.S & Canada)
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America)
  • Europe (U.K, Germany, Italy, Spain, France, BENELUX, Nordics, Russia & Rest of Europe)
  • East Asia (China, Japan & South Korea)
  • South Asia (India, Thailand, Indonesia, Malaysia & Rest of South Asia)
  • Oceania (Australia & New Zealand)
  • MEA (GCC, South Africa & Rest of MEA)

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