Pet Toys Market : Exploring Growth Drivers and Overcoming Challenges to Reach US$ 4.14 Billion by 2028
BROOKLYN, NY, USA, September 4, 2023/EINPresswire.com/ — The latest report by IMARC Group, titled “Pet Toys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global pet toys market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Pet Toys Market Size, CAGR and Forecast 2023-2028:
The global pet toys market size reached US$ 2.73 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.14 Billion by 2028 exhibiting a growth rate (CAGR) of 7.1% during 2023-2028.
Pet toys, often categorized by type and pet species, are items designed to provide entertainment, mental stimulation, and physical exercise for pets. These toys range widely in composition, including rubber, plush, plastic, and rope materials. Pet toys are non-toxic, durable, and often designed to withstand aggressive play. The key feature of these toys lies in their ability to stimulate pet curiosity, providing both physical activity and cognitive challenges. They’re predominantly utilized by pet owners, pet trainers, and pet care institutions. Other sectors, including the veterinary and animal research sectors, also incorporate pet toys due to their enrichment benefits.
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Pet Toys Market Trends and Growth Prospects:
The increasing trend of pet ownership represents one of the key factors influencing the market growth of pet toys. In addition to this, advancements in pet toy design, reflecting the understanding of animal behaviour, are continuously driving the need for varied and engaging toys.
The ongoing trend towards pet humanization is enhancing the demand for high-quality pet toys. The expanding pet care industry, with its high consumption of pet toys, is propelling the market growth.
Moreover, rapid urbanization in developing countries is providing an impetus to pet toy market growth. The surging demand for interactive toys, designed to entertain pets during owner absences, is fueling the market growth of pet toys. The rising adoption of pets and increased spending on pet welfare, which frequently include the purchase of pet toys, is a strong market driver. The enhanced awareness about animal welfare and mental health in the pet owner community is fostering the need for pet enrichment items like toys.
Other factors such as government regulations promoting responsible pet ownership, the trend of sharing pet activities on social media, and growing online sales of pet products, are driving the market growth across the globe.
Who are the key players operating in the industry?
The report covers the major market players including:
• Allstar Inovations
• Central Garden & Pet Company
• Company of Animals
• Fluff & Tuff Inc.
• JOLLY PETS Ltd.
• Kong Company
• Mammoth Pet Products
• Multipet International Inc.
• Outward Hounds LLC
• Petsport Usa Inc.
• West Paw Inc.
What is included in market segmentation?
The report has segmented the market into the following categories:
Pet Toys Market by Type Insights:
• Plush toys
• Rope and rug toys
Pet Toys Market by Application Insights:
Pet Toys Market by Distribution channel Insights:
Pet Toys Market by Regional Insights:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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