The pet toys market is expected to grow at a CAGR of 7.2% during

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The pet toys market is expected to grow at a healthy CAGR of 7.2% for the projection period from 2021 to 2031. The growing rate of pet ownership, increased interest in humanization trends pet toys and the development of pet foster facilities are key factors contributing to the boom in the pet toy market. Consumers are increasingly looking for tailored and personalized pet products, despite higher prices. Additionally, the trend of using toys for behavioral training is expected to influence the developments within the market.

“Pet owners have increasingly shown interest in purchasing durable products, while meeting animal safety standards. This has encouraged pet toy manufacturers to explore materials natural products for their offerings, in line with the needs of environmentally conscious pet parents,” says the IMF. study.

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Pet Toys Market – Important Takeaways

Plastic and rubber toys remain popular materials for toy production, due to their superior durability and standardization of product quality.
E-commerce sales will reflect a relatively faster rate of growth, supported by internet penetration and rebate offers from manufacturers.
India is emerging as a high-potential market owing to the expanding consumer class of millennial pet owners.
The United States accounts for a large share of revenue due to consumer preferences for luxury pets.
Pet Toys Market – Driving Factors

The steady growth in cat and dog ownership rates is a major factor positively influencing pet toy sales.
The growing popularity of facilities such as pet hotels and daycares is generating key growth opportunities.
Major advances in pet cognitive training products are driving sales in the industry.
Pet Toys Market – Major Constraints

Concerns about the widespread proliferation of low-quality toys by small manufacturers are a major concern limiting adoption.
The lack of knowledge about toys for training purposes limits sales prospects worldwide.
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Expected impact on the market by the coronavirus epidemic

The global covid-19 pandemic has had a moderately negative impact on the pet toys market. Restrictions on production operations and social distancing guidelines have limited labor and disrupted supply chains during the crisis. In addition, international trade restrictions had affected product availability.

On the other hand, pet ownership rates have increased over the forecast period, creating sales opportunities for manufacturers, partially mitigating manufacturers’ losses during the pandemic. Demand is expected to recover steadily over the next decade, with increasing sales activity coming from online distribution channels.

Competition landscape

Some of the key players in the pet toys market include but are not limited to Honest Pet Products, Central Garden & Pet Company, Company of Animals Ltd., Cosmic Pet, Petsport USA Inc., Zyppy Paws, Mammoth Pet Products, Radio Systems. Corporation, Jolly Pets, Multipet, Fluff and Tuff Inc., Kyjen Company LLC, West Paw, KONG Company, Ethical Products Inc., Benebone LLC, Coastal Pet Products Inc. and Petmate.

Major manufacturers in the pet toys market have been extensively involved in new product launches to bolster their product portfolios, in addition to strategies aimed at licensing and geographic expansion.

In March 2021, PetSmart unveiled its Brain Games training course aimed at achieving mental stimulation goals, including classes on dog reading, object recognition and more, improving communication between pet and dog. owner. Additionally, Chewy, the online pet toy store, unveiled a new line of 400 cat and dog products based on Marvel, Disney, Star Wars and Pixar character designs. In December 2020 Pet Supplies Plus announced the acquisition of 40 stores from Pet Valu across Virginia, Indiana, Ohio, Kentucky, Pennsylvania, Maryland and New Jersey.

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Pet Toys Market by Category

By product type:

plush toys
Rope and tug toys
Balls
chew toys
Squeaky Toys
Interactive toys
Others
By type of animal:

Dogs
Cats
Birds
Others
By type of material:

Rubber
Cotton
Nylon
Plastic
Others
By type:

Inedible
Edible
By size:

Little
Medium
Big
By price range:

Economical (less than 10 USD)
Mid-Range ($10 – $25)
Premium (above 25 USD)
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

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About IMF:

Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.

This press release was published on openPR.

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