In 2023, the global pet toys market was valued at USD 8.88 billion. Over the period from 2024 to 2030, it is expected to grow at a compound annual growth rate (CAGR) of 9.6%, reaching USD 16.81 billion by 2030. The rising focus on pet health and quality of life is encouraging pet owners to purchase more engaging and interactive toys to enrich their animals’ experiences.

Key Market Trends & Insights

• In 2023, the North American region commanded a 31.86% share of the global pet toys market.
• The U.S. market for pet toys is forecast to grow at a CAGR of 8.5% between 2024 and 2030.
• Among pet types, dog toys held the largest share in 2023, accounting for 51.94% of market revenues.
• Concerning distribution channels, hypermarkets and supermarkets captured the largest share in 2023.
• In terms of product categories, chew toys were the dominant segment in 2023.

Market Size & Forecast

• 2023 market size: USD 8.88 billion
• Projected 2030 market size: USD 16.81 billion
• CAGR from 2024 to 2030: 9.6%
• North America was the largest regional market in 2023.

The pet toy market benefits from the humanization of pets, i.e. owners increasingly treating their animals as family members; this encourages investment in toys that provide stimulation and pleasure. Annual pet adoptions—estimated at 4.1 million—also drive additional demand for toys. Millennials, representing 33% of pet owners, further fuel this trend as they tend to spend more on premium pet products. Lower euthanasia rates and increasing numbers of cat adoptions relative to dogs also underscore the need for accessible toy options for newly adopted pets.

Pet spending has surged: in 2022 total expenditure on pets reached USD 136.8 billion—a 10% increase over the prior year and 50% rise since 2018. Meanwhile, average annual spending stood at USD 912 per dog owner and USD 653 per cat owner. Even more modest-income households allocate about 1% of their incomes to pet-related purchases. Regions such as China also illustrate this trend: urban pet populations have grown rapidly, with over 100.8 million pet dogs and cats in Chinese cities alone in 2020, up 10.2% from 2018. This willingness to invest in pets supports growth in the pet toys sector, including premium, fashionable and tech-enabled innovations. For instance, a premium brand launched a pet collection in late 2023 that included toys alongside beds, leashes, and harnesses—reflecting the increasing crossover between premium human and pet goods.

The market is marked by continuous innovation. Manufacturers are launching interactive or technologically augmented toys, including app-controlled devices and puzzle feeders, to differentiate product lines. Regulatory frameworks (e.g. safety standards from national and international bodies) require adherence to material and design norms, motivating safer and more sophisticated toy development. The presence of many substitutes—such as simple balls, ropes, and DIY household-item toys—adds further competitive pressure and choice for consumers.

Regarding end users, the pet toy market is broadly distributed among a diverse set of households—individuals, nuclear families, or multi-generational homes—with varying demographics from younger pet owners to seniors. As pet ownership continues its upward trend globally, this diversity ensures sustained demand across consumer segments.

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Key Companies & Market Share Insight

Competition in the pet toys sector is intense. Major players, both large and small, employ strategies such as mergers and acquisitions, strategic partnerships, new product launches, enhanced innovation, and promotional campaigns to maintain or expand their presence. These leading companies jointly hold a substantial portion of market share and influence overall industry direction.

Key Companies List

• 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.

Recent product innovations and portfolio expansions underscore the competitive dynamics: for example, in July 2023, a brand known for pet wipes introduced a line of dog toys designed to reduce boredom and support mental stimulation and physical activity. Similarly, in May 2023, another company launched a campaign titled “We’ve Got Happy Down to a Science,” showcasing a full lineup of scientifically informed pet toys and sponsoring a major dog show event.

Conclusion

Overall, the pet toys market is on a robust trajectory, driven by rising pet adoption, increased spending by pet owners, and the trend of humanizing pets. With a projected growth from USD 8.88 billion in 2023 to USD 16.81 billion by 2030 (CAGR 9.6%), the sector is attracting innovation and competition. Dog toys dominate currently, while chew toys lead by product revenue. North America remains the largest regional market, with hypermarkets and supermarkets leading as distribution channels. The crowded competitive landscape, featuring both established and emerging names, emphasizes the importance of differentiation through technology, design, quality, and branding. In sum, the pet toys industry is growing steadily, with opportunity for companies that can stay ahead in innovation and meet evolving consumer expectations.

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