Pet Toys Market Summary

The global pet toys market was valued at USD 8.88 billion in 2023 and is expected to reach USD 16.81 billion by 2030, expanding at a CAGR of 9.6% from 2024 to 2030. Market growth is largely driven by increasing awareness among pet owners regarding pet health, mental stimulation, and overall well-being. As pets require regular physical activity and cognitive engagement, demand for interactive, durable, and enrichment-focused toys continues to rise.

The growing humanization of pets has further accelerated the adoption of premium and innovative pet toys. Pet owners increasingly seek toys that mirror the entertainment and engagement levels found in human products, reinforcing the role of toys in strengthening the bond between pets and their owners. In addition, rising pet adoption rates are supporting sustained demand. According to data published in January 2024, approximately 4.1 million animals are adopted each year, significantly expanding the consumer base for pet toys. This trend is especially prominent among millennials, who account for 33% of pet ownership, positioning them as a key demographic driving market growth.

Another important contributor to market expansion is the notable increase in overall pet-related spending. In 2022, pet spending reached USD 136.8 billion, reflecting a 10% year-over-year increase and a 50% rise since 2018. Average annual expenditures of USD 912 per dog owner and USD 653 per cat owner indicate a strong willingness to invest in high-quality toys and accessories. Even households with lower income levels contribute meaningfully, allocating nearly 1% of their earnings to pet care. As pets are increasingly viewed as family members, spending on engaging, safe, and durable toys is expected to continue rising.

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Key Market Trends & Insights

• North America accounted for 31.86% of global pet toys market revenue in 2023.
• The U.S. pet toys market is projected to grow at a CAGR of 8.5% from 2024 to 2030.
• By pet type, dog toys held the largest market share of 51.94% in 2023.
• By distribution channel, hypermarkets and supermarkets dominated market revenue in 2023.
• By product type, chew toys represented the largest share of the market in 2023.

Market Size & Forecast

• 2023 Market Size: USD 8.88 Billion
• 2030 Projected Market Size: USD 16.81 Billion
• CAGR (2024–2030): 9.6%
• North America: Largest market in 2023

Key Pet Toys Company Insights

The global pet toys market is highly competitive, featuring a mix of large multinational brands and specialized manufacturers. Key companies are actively pursuing growth strategies such as mergers and acquisitions, strategic partnerships, frequent product launches, and continuous innovation to differentiate their offerings. Marketing campaigns focused on durability, safety, sustainability, and interactive features are becoming increasingly important as consumer expectations evolve.

Key Pet Toys Companies

• Fluff and Tuff, Inc.
• Petsport USA, Inc.
• Cosmic Pet
• ZyppyPaws
• Ethical Products, Inc.
• Benebone LLC
• Jolly Pets
• Honest Pet Products
• Petmate
• Coastal Pet Products, Inc.

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Conclusion

The global pet toys market is positioned for robust growth through 2030, supported by rising pet adoption, increasing pet humanization, and higher consumer spending on pet wellness and enrichment. Demand for interactive, durable, and mentally stimulating toys is expected to remain strong as pet owners prioritize engagement and quality of life for their animals. Companies that focus on innovation, safety, and alignment with evolving consumer preferences are likely to gain a competitive advantage in this rapidly expanding market.