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2024 Global trend for "pet toys" in the pet industry

2024-05-07

2023 the global pet toy market size of 9 billion US dollars, by 2032, the global pet toy market size will increase to 15 billion US dollars at a compound annual growth rate of 6.7%;


North America, Asia Pacific, Europe is the main consumer market for pet toys, in 2022, North America pet toy market share of 32.5%, the market size of up to 3.1 billion US dollars, ranking first in the world's regions, Asia Pacific with a smaller difference ranked second, followed by Europe.


In terms of pet toy types, toy balls will account for the highest proportion in the pet toy market in 2022, reaching 46%, and it is expected that its market leading position will be maintained until 2032, with rope & bite rope, interactive toys, plush toys, and chew toys as the main toy types on the market, sharing the remaining market share.


The United States has the highest pet penetration rate in the world, 70% of American families (about 90.5 million families) have pets, dogs and cats are the most raised pet types in American families, in addition, freshwater fish, small animals and birds are also very popular in the local, the age distribution, millennials are the current main pet, pet ownership accounted for 33%.


More and more high-income families have joined the ranks of pet raising, driving the consumption of pet products continues to rise. When it comes to toy spending, American consumers spend about $56 a year on toys for pet dogs and $41 for pet cats, maintaining a small increase year after year.


PackagedFacts estimates that the proportion of online consumption of pets in the United States will rise to 45% in 2026, and the high e-commerce penetration rate has prompted many physical retailers, including Macy's Department Store, to choose pets as the entry point of e-commerce channels. In terms of channels, Amazon and Chewy, which focuses on pet products, dominate online sales of pet products, followed by Walmart and Target, opening a large gap.


At present, the pet products market is increasingly oriented to the needs of consumers and pets themselves, and pays attention to personalization and customization. These trends will further promote innovation and diversity in the market, creating a very distinct and diversified pet products market.


For cross-border sellers, this requires greater market sensitivity, bolder innovation and a more nuanced operational strategy. However, it is in this environment of challenges and opportunities that more excellent products and services can be spawned.


Data source: public number: Easysell

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