The Latest Pet Toys Industry Statistics Explained
The global pet toys market size was valued at USD 1.34 billion in 2018.
The statistic “The global pet toys market size was valued at USD 1.34 billion in 2018” indicates the total monetary value of the pet toys market across the world for the year 2018. This figure represents the combined sales revenue generated by all pet toy manufacturers and retailers globally during that specific year. The market size value of USD 1.34 billion reflects the demand for pet toys and the overall economic activity within the pet care industry, illustrating the scale and importance of the market for these products on a global scale.
The market is anticipated to expand at a compound annual growth rate (CAGR) of 4.7% from 2019 to 2025.
This statistic indicates the projected growth trend of the market over a specific period, in this case, from 2019 to 2025, using the compound annual growth rate (CAGR) metric. A CAGR of 4.7% means that the market is expected to increase in value by an average of 4.7% each year during this time frame. This steady growth rate suggests a relatively stable expansion trajectory for the market in the coming years, allowing for predictions on future market size and development. Investors, businesses, and other stakeholders can use this information to assess the market’s potential opportunities for investment, expansion, and strategic decision-making.
The U.S. pet toys market is projected to reach USD 1.17 billion by 2025.
This statistic indicates a projected value for the U.S. pet toys market in terms of revenue by the year 2025, with an estimated worth of USD 1.17 billion. This projection suggests that the market for pet toys in the United States is expected to experience significant growth over the coming years, potentially due to factors such as increasing pet ownership, a growing focus on pet health and well-being, and a rising demand for specialized and interactive toys for pets. This statistic provides valuable insight into the anticipated expansion of the pet toys industry, serving as a guide for businesses and stakeholders looking to capitalize on this market trend.
In 2019, nearly 65% of U.S. households purchased pet toys.
The statistic states that approximately 65% of households in the United States bought pet toys in the year 2019. This indicates a high prevalence of pet ownership and the importance that people place on ensuring their pets are provided with toys for entertainment and enrichment. The relatively high percentage suggests that many Americans prioritize the well-being and happiness of their pets by actively purchasing toys for them, highlighting the significance of the pet industry in the country. This information can also be valuable for pet toy manufacturers, retailers, and marketers looking to understand the market demand and consumer behavior within the pet industry.
Revenue in the Pet Toys segment is projected to reach US$5,603 million in 2021.
The statistic ‘Revenue in the Pet Toys segment is projected to reach US$5,603 million in 2021’ indicates the estimated total amount of sales generated from the sale of pet toys for the year 2021. This statistic forecasts that the revenue in the pet toys industry is expected to amount to US$5,603 million, reflecting the financial performance and growth anticipated within this specific market segment. This projection suggests an increase in consumer demand for pet toys and highlights the economic significance and potential opportunities within the pet industry.
The Asia Pacific pet toy market is expected to grow at the highest CAGR of 5.3% from 2021 to 2027.
The statement indicates that the Asia Pacific pet toy market is projected to experience the highest Compound Annual Growth Rate (CAGR) of 5.3% during the period between 2021 and 2027. This suggests a steady and significant increase in the market size and demand for pet toys in the Asia Pacific region over the specified timeframe. The substantial growth rate highlights a positive trajectory for the pet toy industry in the region, driven by factors such as increasing pet ownership, rising disposable incomes, changing preferences towards pet health and wellness, and evolving consumer trends. Businesses operating in the pet toy market may benefit from this growth potential by capitalizing on the expanding marketplace and adapting their strategies to cater to the growing demand for pet toys in the Asia Pacific region.
Dog toys accounted for the largest share of more than 55% of the overall revenue in 2018.
The statistic indicates that in 2018, dog toys generated the highest proportion of revenue compared to other products within the same category or business. Specifically, more than 55% of the total revenue generated by the business came from sales of dog toys. This shows that dog toys were a significant driving force behind the financial performance of the business during that period. The statistic suggests that there is a strong demand for dog toys among customers, leading to substantial sales and revenue. By focusing on dog toys, the business was able to capture a majority share of the market and achieve significant financial success in 2018.
Almost 37% of pet owners bought a new toy for their pet at least once a month in 2019.
The statistic that almost 37% of pet owners bought a new toy for their pet at least once a month in 2019 indicates a relatively high frequency of toy purchases within the pet owner population. This suggests that pet owners prioritize providing their pets with new toys regularly, potentially to enrich their pets’ lives or keep them entertained. The statistic also implies that the pet industry, particularly the pet toy market, is likely to have a steady demand from this segment of consumers. Understanding the buying habits of pet owners in relation to toy purchases can be valuable for pet toy manufacturers and retailers to tailor their products and marketing strategies to effectively target this consumer segment.
Chew toys accounted for 33.3% of the market share in 2018.
In 2018, chew toys held a substantial market share, accounting for 33.3% of the total market share within the pet toy industry. This statistic indicates that roughly one-third of all pet toy sales were attributed to chew toys specifically. This may suggest a high demand for chew toys among pet owners, potentially due to their durability, entertainment value for pets, or perceived benefits for dental health. The significant market share of chew toys in 2018 highlights the importance and popularity of this particular type of pet toy within the industry.
The online sales segment is expected to register the fastest CAGR of 5.6% from 2019 to 2025.
This statistic indicates that the online sales segment is projected to experience the highest compound annual growth rate (CAGR) of 5.6% between 2019 and 2025. This forecast suggests that the online retail industry is anticipated to expand at a notable pace during this period, outpacing other segments in terms of growth. The expected CAGR of 5.6% implies that online sales are poised for significant advancement over the next few years, highlighting the increasing popularity and adoption of e-commerce platforms for purchasing goods and services.
The pet toy market in France is expected to grow by USD 95.92 million during 2020-2024.
The statistic implies that the pet toy market in France is projected to experience significant growth, with an expected increase in revenue of USD 95.92 million over the period from 2020 to 2024. This growth suggests a rising demand for pet toys in the French market, driven by factors such as increasing pet ownership rates, changing consumer preferences towards premium and innovative products for pets, and a growing awareness of the importance of mental stimulation and exercise for pets’ health and well-being. The projected expansion in the pet toy market signifies an opportunity for businesses operating in this sector to capitalize on the growing market demand and potentially gain a larger market share through strategic marketing and product offerings.
Global pet toys market is expected to grow at a CAGR of around 7% during the period 2020-2024.
The statement indicates that the global pet toys market is projected to experience a Compound Annual Growth Rate (CAGR) of approximately 7% from 2020 to 2024. This indicates an expected steady annual increase in market size over the specified time frame. A CAGR of 7% suggests sustained growth in demand for pet toys, driven by factors such as increasing pet ownership, growing pet humanization trends, and rising disposable income levels. The projection implies a positive outlook for the pet toys industry, with opportunities for market expansion and potential profitability for businesses operating within this sector.
Latin America is projected to be the fastest growing regional market, expected to reach $29.2 million by 2025.
The statistic indicates that the Latin American region is forecasted to experience the highest growth rate among all regional markets, with a projected value of $29.2 million by the year 2025. This suggests that Latin America is expected to outpace other regions in terms of market expansion and economic development during this time period. Factors such as increasing consumer demand, investment opportunities, and economic policies may be driving this growth, providing lucrative business opportunities for companies operating in this region. Overall, the statistic highlights the potential for significant market growth and investment prospects in Latin America over the coming years.
In 2021, pet toys became the third most popular category in the pet supplies division, following food and accessories.
The statistic indicates that in 2021, pet toys saw a notable increase in popularity within the pet supplies division, positioning them as the third most sought-after category following food and accessories. This trend signifies a growing trend in pet owners prioritizing the entertainment and well-being of their pets beyond just meeting their basic needs for sustenance and comfort. The rise in the popularity of pet toys could be attributed to an increased focus on enriching pets’ lives, fostering mental stimulation, and enhancing the bond between pets and their owners. This shift in consumer behavior highlights the evolving preferences within the pet industry and suggests a potential opportunity for businesses to capitalize on the demand for innovative and engaging pet toys in the market.
North America dominated the market in 2018 with more than 35% of the overall revenue.
The statement “North America dominated the market in 2018 with more than 35% of the overall revenue” indicates that North America was the leading region in terms of generating revenue in the specified market during the year 2018. With a share of more than 35% of the total revenue, North America contributed significantly to the market’s financial performance. This suggests that companies and industries operating in North America had a major influence on the market dynamics and were significant players in driving revenue growth within the industry. The statistic highlights the importance of the North American market and its substantial contribution to the overall revenue generated within the specified market in 2018.
The average annual pet toy spending per pet owner was approximately 50 U.S. dollars in 2019.
The statistic “The average annual pet toy spending per pet owner was approximately 50 U.S. dollars in 2019” indicates the mean amount of money that pet owners spent on toys for their pets over the course of a year in the year 2019. This figure suggests that, on average, pet owners allocated around $50 towards purchasing toys for their pets within that year. This statistic provides insight into consumers’ willingness to spend on non-essential items for their pets, demonstrating the value and importance that pet owners place on providing entertainment and enrichment for their animal companions.
The U.K. pet toy market is expected to grow by 36.1% during 2021-2025.
The statistic indicates that the U.K. pet toy market is projected to experience a significant increase of 36.1% in its size and revenue over the period from 2021 to 2025. This growth forecast suggests a positive trend for the pet toy industry in the U.K., with an expectation of heightened demand and market expansion. Factors such as increasing pet ownership, a growing awareness of pet health and wellness, and a shift towards premium and specialized pet products could contribute to this anticipated growth. Businesses operating within this market may need to capitalize on these opportunities, adapt their strategies, and innovate their offerings to effectively cater to the evolving needs and preferences of pet owners.
Interactive pet toys hold 18% share in the global pet toys market.
The statistic “Interactive pet toys hold 18% share in the global pet toys market” indicates that interactive pet toys make up 18% of the total market for pet toys worldwide. This means that out of all the different types of pet toys available in the market, interactive toys hold a significant portion of sales and popularity. The 18% share suggests that there is a substantial demand for interactive pet toys among pet owners, likely due to the increasing trend of pet owners seeking toys that engage their pets mentally and physically. This statistic highlights the importance of interactive toys in the pet industry and signals a potential growth opportunity for companies producing and selling such products.
Cat toys accounted for just under 25% of the overall market share.
This statistic indicates that cat toys made up nearly one-fourth, specifically, just under 25%, of the entire market share in the relevant industry or segment. This suggests that cat toys were a significant and substantial portion of the market compared to other products or categories within the same industry. The high market share of cat toys highlights their popularity and demand among consumers, potentially indicating a strong market presence for these products. This information could be valuable for businesses in the industry to understand consumer preferences and make informed decisions regarding product development, marketing strategies, and overall business planning.
The adoption rate of pets in developed countries like US and UK is more than 50%, which stimulates the growth of pet toys market.
The statistic suggests that in developed countries such as the US and UK, over half of the population chooses to adopt pets, leading to a high adoption rate. This high adoption rate has a significant impact on the growth of the pet toys market, as more households with pets create a greater demand for toys and accessories for their furry companions. The increased adoption of pets indicates a favorable environment for the pet industry, encouraging companies to innovate and expand their product offerings to cater to the growing market of pet owners.
References
0. – https://www.www.grandviewresearch.com
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2. – https://www.www.linkedin.com
3. – https://www.www.statista.com
4. – https://www.www.petsplusmag.com
5. – https://www.www.prnewswire.com
