The dog toy market is rapidly expanding. Dog toys are classified according to the materials they are made with, such as rubber, plastic, rope, or plush. Each material provides varying degrees of durability, protection, and comfort to the dog. In addition, the dog toy market is segmented based on the type of toy. Chew toys, noisy toys, retrieve toys, puzzle toys, and interactive toys are all popular types of dog toys. Chew toys are intended to satisfy a dog's natural chewing instinct, whilst squeaky toys give excitement and enjoyment through sound. Fetch toys are ideal for playing outside and encouraging exercise, whilst puzzle and interactive toys are intended to test a dog's problem-solving abilities and keep them mentally busy. The market is expanding as a result of the wide variety of dog toys available. Furthermore, there is an increasing demand for customizable and personalized dog toys, that allow pet owners to have toys that are suitable for their dogs, which supports market growth.
Key Drivers of the Dog Toy Market
Increasing Dog Owners
The major factor responsible for the growth of the dog toys market is the increasing number of dog owners across the globe. For instance, according to the American Pet Products Association’s 2023-2024 APPA National Pet Owners Survey, 66% of US households, or 86.9 million households, own a pet. By 2030, dog ownership in the US is anticipated to rise to 45% of all households from 38% in 2020, according to the American Veterinary Medical Foundation (AVMF).
Besides, according to 2021 report of the European Pet Food Industry Federation (FEDIAF), about 90 million houses owned a pet, of which, 92 million pets were dogs. This number Additionally, as more and more individuals understand the importance of animal companion, the dog ownership grows. For instance, according to the American Heart Association, dog owners have a reduced risk of cardiovascular diseases.
Growing Pet Humanization and Spending on Pets
Another driver of the dog toy industry is the growing inclination of pet humanization, which has resulted in dogs being adopted as family members. This trend has also raised the demand for luxury dog toys composed of safe, long-lasting materials that can resist intense play. Additionally, pet owners are becoming more aware of the negative effects of plastics and other synthetic materials on the environment and the health of their pets. As a result, demand for environmentally friendly and natural materials such as organic cotton, recycled plastic, and natural rubber has increased. These materials not only make pet toys safer and healthier for pets, but they also have a lower environmental effect. Pet owners are spending more on their pets, notably dogs, as a result of such expectations and pet humanization. For instance, according to the American Pet Products Association, in 2022, $136.8 billion was spent by US individuals on their pets. According to the same source, the spending is estimated to increase to $143.6 billion in 2023.
Expansions and Innovations by Major Market Players
The dog toy market has significant contributors such as Kong Company, West Paw Design, Nylabone, Chuckit!, Benebone, Beco Pets, Hyper Pet, and The Pets Company, among others. These players assist in the market’s growth with the launch of new products and through collaborations and investments. Some of the recent developments in the market include-
• In April 2023, HyperX, HP Inc.'s gaming peripherals team and brand leader in gaming and esports, has announced the launching of a gaming-peripheral-inspired pet toy line with P.L.A.Y. (Pet Lifestyle and You), a creative collaboration for dogs and their owners. The new collection will include smaller copies of HyperX's gaming accessories. To promote pets' natural tendencies to play, the toys will be crafted of high-quality, sustainable materials and will include colorful and interesting designs.
• In March 2023, Benebone, a prominent brand of high-quality dog chews manufactured in the US, introduced the Tripe Bone in three sizes. It has 100% authentic beef flavor. It features a squiggly shape and a curved, paw-friendly design that dogs will enjoy.
• In March 2023, Paw-lymorph, a recently established company that creates interactive, tabletop gaming-inspired pet toys, announced the official launch of its e-commerce site, Pawlymorph.com.
• In February 2023, Nylabone announced the upcoming release of four new product lines, including multi-flavored Basted Blast chew toys, the Sneaky Snacker chew & treat toy, and Healthy Edibles Meaty Center chew treats.
• In January 2023, Fisher-Price launched its new collection of dog toys at PetSmart’s online stores. The collection includes Sound Bites, a Xylophone. The instrument’s keys are bone shaped and it is made of soft materials. Other toys include Attack-A-Stack Chase & Toss Toy and Pull Along Rocket.