Pet Toys Market to Reach USD 17.4 Billion by 2033

Introduction

The Global Pet Toys Market is projected to reach approximately USD 17.4 billion by 2033, up from USD 9.1 billion in 2023, reflecting a compound annual growth rate (CAGR) of 6.7% during the forecast period from 2024 to 2033.

Pet toys are specially designed items that cater to the entertainment, physical exercise, and cognitive stimulation of pets, primarily dogs and cats. These toys come in various forms such as chew toys, balls, interactive toys, puzzle toys, and plush toys, each targeting different aspects of a pet’s behavior and needs.

Pet toys not only help keep pets engaged and active but also contribute to their emotional well-being and overall health by alleviating stress, anxiety, and boredom. In essence, pet toys have evolved from simple playthings to essential products that enhance the quality of life for both pets and their owners.

The pet toys market refers to the industry that encompasses the design, manufacturing, distribution, and retail of pet-related toys. This market has grown substantially in recent years, driven by the increasing pet adoption rates and the humanization of pets, where owners are spending more on pet care, including entertainment products. The market spans a wide range of products, from simple chew toys for dogs to more sophisticated interactive or technologically enhanced toys for cats and other pets. It includes both mass-market and premium products, reflecting a growing consumer trend toward quality and innovation in pet care.

Several factors are contributing to the robust growth of the pet toys market. First, the increasing number of pet owners, particularly in urban areas, has led to heightened demand for pet care products. This trend is coupled with the growing focus on pet health and wellness, prompting pet owners to invest in products that not only entertain but also improve their pets’ cognitive skills and physical health.

Additionally, the rise in disposable income, particularly in emerging markets, has resulted in greater spending on premium pet products, including high-quality toys. Another key growth driver is the expanding trend of e-commerce, which has made pet toys more accessible to a broader consumer base. The demand for eco-friendly, safe, and durable materials also plays a crucial role in shaping the market’s development.

Demand for pet toys is predominantly driven by consumer behavior trends, such as increasing pet ownership, especially among millennials and Gen Z. These demographic groups are more likely to treat pets as family members, which translates into a higher demand for premium, innovative, and personalized pet products. Additionally, the growing trend of pet humanization, where pets are considered companions rather than animals, has amplified the need for more sophisticated and engaging toys.

Dogs, particularly, are the largest consumers of pet toys due to their active nature, but cats and other smaller pets are also driving demand for toys designed for their specific needs. Moreover, the ongoing emphasis on sustainability has pushed manufacturers to innovate, creating eco-friendly and non-toxic pet toys that align with consumers’ increasing environmental consciousness.

The pet toys market presents numerous opportunities for growth and innovation. One significant opportunity lies in the expansion of product offerings tailored to specific pet needs, such as interactive toys, which are gaining popularity for their ability to stimulate pets mentally and physically. Another opportunity lies in the integration of technology into pet toys, with innovations like smart toys and automated feeders opening new avenues for product development.

Furthermore, the increasing interest in pet health has spurred demand for toys that promote fitness, mobility, and cognitive function, especially in older pets. Geographically, emerging markets offer substantial untapped potential, where rising disposable incomes and changing consumer lifestyles are expected to fuel demand for pet care products, including toys. Lastly, eco-conscious consumers are creating a market for sustainable and ethically produced pet toys, presenting an opportunity for companies to cater to this growing segment.

Key Takeaways

• The global pet toys market, valued at USD 9.1 billion in 2023, is projected to reach USD 17.4 billion by 2033, reflecting a compound annual growth rate (CAGR) of 6.7%.
• In 2023, balls accounted for 46% of the product segment, driven by their widespread popularity and versatility for interactive play.
• Dogs continued to dominate the pet segment in 2023, representing 51% of the market, which led to a significant demand for dog-specific toys.
• The offline sales channel held the largest share of revenue in 2023, underscoring consumer preference for in-store shopping for pet toys.
• North America led the market with a 39% share in 2023, generating over USD 3.55 billion, supported by high pet ownership rates and strong consumer spending on pet products.

Pet Toys Statistics

• 91% of pet toy manufacturers now conduct regular safety testing.
• Bluetooth-enabled pet cameras with toy integration saw a 28% increase in sales.
• 62% of pet owners purchase seasonal rotating toy collections.
• Training toys account for 18% of the total pet toy market.
• Personalized and customized pet toys grew in popularity by 25%.
• 72% of pet owners prefer toys made from non-toxic materials.
• 56% of pet owners prefer buying toys from specialized pet stores.
• Fetch and interactive throw toys represent 25% of dog toy purchases.
• 73% of pet owners buy food online, while 68% buy from specialty stores.
• 61% of US pet owners purchase nutritious food for their pets.
• 51% of millennials buy gifts for their pets.
• Over 66% of US owners have at least one pet.
• The pet industry has grown by 450% in the last 25 years.
• 43% of dog owners and 41% of cat owners purchase premium food for their pets.
• 40% of pet owners buy food and treats online.
• 70% of American households own at least one pet.
• 65.1 million US households own dogs.
• There are 471 million pet dogs worldwide.
• The average pet-owning household spends $1,120 annually on pets.
• 23% of dog owners get their dog from a breeder, compared to 7% of cat owners.
• Over 500 pet food manufacturers produce 3.3 billion pounds of pet food annually in the US.
• 55% of consumers purchase pet food from pet supply stores.
• 85% of consumers believe pet food companies lack transparency about ingredients and sourcing.
• 44% of pet owners prioritize buying healthy food for their pets over themselves.
• 53% of pet owners pay equal attention to purchasing healthy food for themselves and their pets.

Emerging Trends

• Rising Demand for Eco-Friendly Pet Toys: Consumers are increasingly prioritizing sustainable products for their pets, leading to a surge in demand for toys made from natural, biodegradable, or recycled materials. Toys crafted from organic cotton, hemp, and recycled rubber are gaining popularity. This trend aligns with broader eco-conscious consumer behavior, with surveys showing over 40% of pet owners actively seeking environmentally friendly pet products.
• Smart and Interactive Toys for Tech-Savvy Owners: The integration of technology into pet toys is becoming mainstream. Products with features such as motion sensors, app-controlled functions, and AI-driven interactions are on the rise. For example, smart ball launchers and toys with cameras allow owners to monitor and engage with their pets remotely, meeting the needs of tech-savvy pet owners.
• Customizable and Breed-Specific Toys: Personalized pet toys tailored to a pet’s size, breed, and play preferences are growing in demand. Consumers are looking for toys designed to meet the unique requirements of pets, such as chew toys for aggressive chewers or mental stimulation toys for intelligent breeds like Border Collies. Pet personalization is estimated to attract over 30% of urban pet owners in developed markets.
• Growth in Durable and Long-Lasting Toys: Durability has become a key factor for pet owners, especially those with large breeds or high-energy pets. Manufacturers are focusing on producing indestructible toys made from reinforced rubber, nylon, or similar materials. These toys not only reduce replacement costs for owners but also contribute to the brand loyalty of durable toy manufacturers.
• Increased Interest in Mental Stimulation and Enrichment Toys: Pet owners are showing a heightened awareness of the importance of mental stimulation for pets. Puzzle toys, treat-dispensing toys, and other enrichment products are gaining traction as they help pets stay engaged, reduce boredom, and curb destructive behaviors. For example, enrichment toys that incorporate treats are seeing double-digit growth in sales year-over-year.

Top Use Cases

• Behavior Management and Stress Reduction: Pet toys are widely used to manage anxiety and stress in pets. Chew toys, for instance, help dogs cope with separation anxiety, while interactive toys keep them entertained when owners are away. Over 70% of dog owners report using toys to prevent behavioral issues.
• Physical Activity and Exercise: Active play toys, such as balls, frisbees, and tug ropes, encourage exercise and maintain the physical health of pets. This is especially crucial for pets in urban settings where outdoor space may be limited. Approximately 60% of pet owners state that exercise-related toys are essential for their pets’ well-being.
• Mental Stimulation and Problem Solving: Puzzle toys and treat-dispensing products encourage mental activity, which is essential for intelligent breeds. These toys challenge pets to solve problems and access rewards, boosting cognitive development. For example, nearly 50% of dog owners with working breeds use puzzle toys regularly.
• Teething and Dental Health: Pet toys designed for chewing support teething in puppies and dental health in adult pets. Products with ridges or textured surfaces help clean teeth and massage gums, reducing the risk of dental issues. Over 30% of pet owners purchase dental chews or toys annually.
• Owner-Pet Bonding Activities: Interactive toys such as fetch toys, tug-of-war ropes, and play sticks promote bonding between pets and their owners. These toys allow shared play experiences, fostering emotional connection and trust. Around 80% of pet owners engage in daily playtime with their pets, highlighting the importance of such toys.

Major Challenges

• Safety and Durability Concerns: One of the major challenges is ensuring pet toy safety. Products with small, detachable parts or toxic materials pose choking and health risks for pets. Approximately 25% of pet owners report concerns about the safety of toys, pushing manufacturers to meet stricter quality standards.
• Pricing Sensitivity Among Consumers: Despite the growing demand, pricing remains a significant challenge. High-quality, durable, or tech-enabled toys often come at a premium price point, making them less accessible to budget-conscious pet owners. Over 40% of pet owners cite cost as a limiting factor in purchasing toys.
• Environmental Impact and Waste: The majority of traditional pet toys are made from non-biodegradable plastics, contributing to environmental waste. With increasing consumer awareness, manufacturers face pressure to shift toward sustainable materials, which often involve higher production costs.
• Limited Awareness in Developing Markets: In many emerging markets, awareness of specialized pet toys remains low. Basic toys or household objects are often used instead, limiting market penetration. For example, in countries with low pet care expenditure, less than 20% of pet owners purchase commercial pet toys.
• Customization and Inventory Management Challenges: As demand for personalized and breed-specific toys grows, manufacturers face logistical challenges in managing inventory. Balancing customization options while maintaining efficient production and distribution can drive up operational costs, especially for smaller players in the market.

Top Opportunities

• Expansion of Online Retail Channels: E-commerce offers significant growth opportunities for pet toys, driven by the convenience and variety it provides. Online platforms allow manufacturers to reach a global audience, with online pet product sales increasing by over 15% annually in key regions like North America and Europe.
• Adoption of Eco-Friendly Materials: The growing trend toward sustainability presents an opportunity for manufacturers to differentiate their products. Pet toys made from organic or recycled materials cater to the demands of environmentally conscious consumers, a segment that is expected to expand rapidly.
• Increasing Urban Pet Ownership: The rise in pet ownership among urban populations, particularly Millennials and Gen Z, drives demand for compact, interactive, and indoor-friendly toys. Urban pet owners are more likely to invest in toys that keep pets active and entertained in limited spaces, presenting a high-growth market segment.
• Customization and Direct-to-Consumer Sales: Offering customizable toys through direct-to-consumer models provides manufacturers with a competitive edge. This approach enhances customer engagement and allows brands to build stronger relationships with pet owners, boosting repeat purchases.
• Focus on Smart Toys and IoT Integration: Technology-driven toys, such as those with IoT connectivity, present opportunities for innovation. Features like remote control, real-time tracking, and activity monitoring are attracting tech-savvy consumers. This segment could see substantial growth as pet tech adoption accelerates, with nearly 25% of pet owners showing interest in smart pet products.

Key Player Analysis

• Central Garden & Pet Company has established itself as a market leader, generating $3.3 billion in total sales in 2023, with over 55% derived from its pet care segment. Renowned for brands like Chuckit! and JW Pet, the company focuses on creating durable, eco-friendly toys that cater to various pet sizes and needs. Its strategic partnerships with retailers like Amazon and Petco, alongside a strong e-commerce presence, have significantly bolstered its market penetration and sales growth.
• Kong Company is another global leader in the pet toy market, recognized for its durable, rubber-based chew toys, such as the flagship Kong Classic. Available in over 80 countries, Kong generates over 40% of its revenue from international markets. The company’s treat-dispensing toys are highly popular due to their ability to enhance pets’ mental stimulation and dental health. Kong continues to innovate by designing products based on extensive research into pet behavior, ensuring its position as a preferred brand among pet owners worldwide.
• Radio Systems Corporation, known for its brands PetSafe and SportDOG, stands out for its technologically advanced offerings in the pet toys category. Products such as automatic ball launchers and interactive puzzle toys cater to tech-savvy pet owners seeking innovative solutions for pet engagement. PetSafe contributes an estimated $500 million annually to the company’s total revenue. Through strategic acquisitions, including brands like Invisible Fence, Radio Systems Corporation has expanded its portfolio and solidified its position as a key player in the pet care industry.
• ZippyPaws has carved a niche in the market with its visually appealing and functional toys, particularly squeaky and plush designs. The brand has gained a strong following among millennial and Gen Z pet owners, driven by its focus on affordability and Instagram-worthy aesthetics. ZippyPaws achieved double-digit growth in recent years, reporting approximately $30 million in annual revenue in 2023. By targeting small and medium-sized dog owners and prioritizing design innovation, the company has successfully built a loyal customer base.
• Benebone LLC specializes in ergonomic chew toys infused with real food-grade flavors, such as bacon and peanut butter, making them highly appealing to pets. With annual revenues exceeding $20 million and distribution in over 40,000 retail locations across North America, Benebone has positioned itself as a premium player in the chew toy segment. The company also focuses on sustainability, incorporating eco-friendly packaging and recycling initiatives to attract environmentally conscious consumers. Benebone’s unique product offerings and customer-focused approach ensure its continued growth in the competitive pet toys market.

Recent Developments

• In June 26, 2024, Petco Health and Wellness Company, Inc. (Nasdaq: WOOF) unveiled its 2023 Environmental, Social and Governance (ESG) report, highlighting the company’s continued progress in its commitment to improving the lives of pets, pet parents, and employees. Benjamin Thiele-Long, Chief ESG & Communications Officer, emphasized the importance of making a positive impact on pets, people, and the planet as a core aspect of Petco’s mission. The report showcases advancements in key ESG areas, demonstrating the company’s efforts to foster meaningful connections with stakeholders and communities while maintaining its reputation as a purpose-driven retailer.
• In 2024, BARK (NYSE: BARK), a global omnichannel brand known for its dog-centric products, announced a collaboration with Dunkin’, the leading coffee and donut brand in the U.S. Together, they launched a new collection of dog toys to celebrate pumpkin spice season. Since their partnership began in 2020, BARK and Dunkin’ have raised over $10 million for the Dunkin’ Joy in Childhood Foundation, continuing their mission to bring joy to both dogs and their owners while supporting a charitable cause.
• In Nov. 13, 2024, PetSmart introduced its 2024 Merry & Bright collection, offering a wide range of products to make the holiday season special for pets and their owners. From toys and festive apparel to thoughtful gifts for pet parents, the collection provides everything needed to celebrate the holidays with pets. PetSmart’s value-oriented offerings aim to create unforgettable holiday memories for families and their furry companions.
• In 2024, Godrej Consumer Products (GCPL) announced its entry into the pet care sector through its new subsidiary, Godrej Pet Care. With an eye on capturing a share of the rapidly growing Rs 5,000 crore market, GCPL plans to invest Rs 500 crore over the next five years. The company’s expansion into this promising category is expected to yield strong double-digit growth over the coming decades, with Godrej Agrovet serving as its manufacturing and R&D partner.
• In Sept. 30, 2024, Cheerble, a leading global brand specializing in smart pet technology, launched its latest products—Wicked Ball Air and Wicked Ball M3. Known for enhancing the quality of life for pets through innovative, sustainable design, Cheerble’s new offerings continue the company’s mission to strengthen the bond between pets and their owners, setting new standards in pet tech innovation.

Conclusion

The pet toys market is experiencing significant growth, driven by evolving consumer attitudes toward pets, rising pet ownership, and increasing awareness of pet health and wellness. As pets are increasingly regarded as family members, the demand for innovative, engaging, and high-quality toys continues to surge. This market is marked by strong opportunities for product diversification, particularly in sustainable, tech-enabled, and customized toys, catering to both functional and emotional needs of pets and their owners.

While challenges such as pricing sensitivity, safety concerns, and environmental impact persist, advancements in e-commerce and the integration of technology are reshaping the landscape, making products more accessible and tailored. The market’s future trajectory is set to benefit from emerging trends such as the adoption of eco-friendly materials, breed-specific solutions, and urban-friendly designs, ensuring continued growth and innovation in this dynamic and expanding industry.

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