Smart Pet Toys Market - Forecast(2024 - 2030)

Report Code: HCR 1565 Report Format: PDF + Excel

Smart Pet Toys Market Overview:

Smart Pet Toys Market size is estimated to reach $830.5 million by 2030, growing at a CAGR of 15% over the forecast period 2024–2030. Consumer demand for pets is rising due to the growing trend of nuclear households, which is also driving up demand for pet toys. These days, pet owners are also searching for toys that are more resilient and safer for their furry friends. This trend is expected to boost the growth of the Smart Pet Toys Market over the forecast period.
 
Additionally, customers' preferences for eco-friendly materials in pet toys are changing, and the availability of a large range of intelligent pet toys may cause them to spend more money on pet care.  Demand for pet care items has increased recently as people have been more conscious of the security and comfort of their animals. Additionally, it is anticipated that throughout the forecast period, the global pet humanization trend would support the expansion of the pet animal toys market. These factors positively influence the Smart Pet Toys industry outlook over the forecast period.
 

Market Snapshot: 

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Smart Pet Toys Market - Report Coverage:

The “Smart Pet Toys Market Report - Forecast (2024–2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Smart Pet Toys Market.
 
                  Attribute                             Segment
 

By  Type

  • Plush

  • Rope

  • Balls

  • Others

 

By Pet Type

  • Dogs

  • Cats

  • Others

By Distribution Channel

  • Online

  • Offline



 

By Toys Type

  • App-Controlled Toys

  • Interactive Puzzle Toys

  • Voice-Activated Toys

  • Remote Control Toys

  • Tracking and Monitoring Devices

  • Smart Collars and Tags

  • Others





 

By Geography

  • North America (U.S., Canada and Mexico)

  • Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),

  • South America (Brazil, Argentina, Chile, Colombia and Rest of South America)

  • Rest of the World (Middle East and Africa).

 

COVID-19 / Ukraine Crisis - Impact Analysis:  

● The COVID-19 pandemic brought about significant changes in the smart pet toys market. As lockdowns and stay-at-home orders were implemented, there was a surge in pet adoption, with many individuals seeking companionship during uncertain times. This boost in pet ownership led to an increased demand for pet-related products, including smart pet toys, as people wanted to keep their furry friends engaged and entertained while spending more time at home. The pandemic also accelerated the shift to online shopping due to the closure or limited access to physical stores. This change in consumer behavior presented a unique opportunity for companies in the smart pet toy market to expand their online presence and reach a broader customer base.
 
● The ongoing crisis between Russia and Ukraine has had ripple effects on the smart pet toys market. The crisis has brought about unpredictability and economic volatility in the area. International business partnerships may be impacted by trade disruptions and changes in currency exchange rates brought on by economic instability. These economic uncertainties might result in supply chain issues and higher prices for enterprises in the smart pet toy market who source materials or components from the impacted area or have connections to businesses in Russia or Ukraine.

Key Takeaways:

● North America is Dominated Region 
Geographically, in the global Smart Pet Toys market share, North America is analyzed to remain the largest region over the forecast period and it is expected to grow with a CAGR of 13% over the forecast period 2024–2030 as there is a rise in the adoption of pets in U.S. and Canada. The market expansion of pet animal toys in the region is driven by consumers' increasing need for handy and plush pet toys over the course of the forecast period. Furthermore, the abundance of pets in the United States and Canada is driving up demand for these toys, which in turn drives up demand for the product as a whole in the area.
 
● The Balls Segment to Register the Fastest Growth
In the Smart Pet Toys Market analysis, the balls segment is estimated to grow with the fastest over the forecast period. Because they are flexible and simple to play with, pets are more likely to play with these kinds of toys. Because balls have a versatile use and are appropriate for dogs, most bet owners choose to get them. Additionally, the demand for interactive toys is expected to rise as more people get accessible to them.
 
● Offline Sector is dominating the Smart Pet Toys Market
According to the Smart Pet Toys Market forecast, the offline is estimated to dominate the market over the forecast period. Since there are many products available to customers in physical locations. Additionally, offline retailers like megastores and specialty shops assist customers in making informed product choices based on their needs, which in turn increases demand in the market.
 
● Increasing Pet Ownership Popularity to Increase Product Demand 
The idea that getting a pet might help you get ready for parenthood has become more and more popular in recent years. In these situations, the pet receives all the needs that the youngster is capable of receiving. The most luxurious comforts, much like they would for their children or any other family member, are now usual for pet owners owing to the pet parenting movement. Because people and their pets have such a strong bond, pet owners are now spending more money on luxuries. Such a drift's frequency anticipates a positive increase in market sales in the upcoming years. Furthermore, millions of people worldwide increasingly view pets as members of the family due to the growing trend of pet humanization. As a result, the growing demand for these toys and the expansion of the market have been driven by the rising popularity of pet adoption among people across various countries. This leads to the growth of the market over the forecast period.
 
● High-Cost 
Many smart pet toys can be relatively expensive, making them less accessible to budget-conscious pet owners. Cost can be a barrier to adoption for some consumers. Smart pet toys are made to improve the mental and physical health of animals, to stimulate and interact with them, and to aid with problems like separation anxiety and pet weight. For many pet owners, though, the initial cost of these toys can be an obstacle. Some customers are unable or unwilling to give a sizable amount of their pet-related budget to smart toys in a market where prices are crucial. Although pet owners and their furry friends can benefit from these modern gadgets in many ways, the comparatively high cost may discourage buyers on low incomes from purchasing these items. A major barrier to market growth may be cost, which can reduce the pool of possible customers and impede the rate of adoption in total. The high cost of smart pet toys poses a significant challenge to the growth of this market.
 
● The Increasing Number of Pet Animal Skin Rashes Restrains the Growth of the Market 
Dogs and cats frequently have skin issues, which is one of the main causes of pet owner visits to the veterinarian. The most common illnesses that affect pets are allergies, skin parasites, and infections that are brought on by chemical use. Pets may experience allergies to plastic toys and materials, just like people do. Instead of sneezing and hay fever, pets typically show signs of skin allergies. They might also get chronic ear, skin, and even paw infections. Thus, it is anticipated that the use of toys containing chemicals will contribute to an increase in the incidence of skin rashes in pets, which would hinder market expansion.
 

Smart Pet Toys Market Share (%) By Region, 2023

                                                    
 

Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Smart Pet Toys Market. The top 10 companies in this industry are listed below:
 
  1. PetSafe
  2. Zippy Paws
  3. Multipet International, Inc.
  4. Kyjen Company, LLC
  5. Kong Company
  6. Benebone, LLC
  7. Petmate
  8. Ethical Products, Inc.
  9. Petsport
  10. Cheerble

Scope of Report: 

Report Metric                          Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

15%

Market Size in 2030

$830.5 million

Segments Covered

Type, Pet Type, Distribution Channel, Toys Type and Region

 

 

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).




 

Key Market Players

  1. PetSafe
  2. Zippy Paws
  3. Multipet International, Inc.
  4. Kyjen Company, LLC
  5. Kong Company
  6. Benebone, LLC
  7. Petmate
  8. Ethical Products, Inc.
  9. Petsport
  10. Cheerble
For more Lifesciences and Healthcare Market reports, please click here 
 
1. Smart Pet Toys Market - Overview
    1.1. Definitions and Scope
2. Smart Pet Toys Market - Executive Summary
3. Smart Pet Toys Market - Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.2. Global Financial Analysis - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
4. Smart Pet Toys Market - Start-up Companies Scenario 
    4.1. Key Start-up Company Analysis by
        4.1.1. Investment
        4.1.2. Revenue
        4.1.3. Venture Capital and Funding Scenario
5. Smart Pet Toys Market – Market Entry Scenario Premium 
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6. Smart Pet Toys Market - Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3. Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. Smart Pet Toys Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Market Life Cycle
8. Smart Pet Toys Market – by Type (Market Size – $Million/$Billion) 
    8.1. Plush
    8.2. Rope
    8.3. Balls
    8.4. Others
9. Smart Pet Toys Market – by Pet Type (Market Size – $Million/$Billion) 
    9.1. Dogs
    9.2. Cats
    9.3. Others
10. Smart Pet Toys Market – by Distribution Channel (Market Size – $Million/$Billion)
    10.1. Online
    10.2. Offline
11. Smart Pet Toys Market – by Toys Type(Market Size – $Million/$Billion) 
    11.1. App-Controlled Toys
    11.2. Interactive Puzzle Toys
    11.3. Voice-Activated Toys
    11.4. Remote Control Toys
    11.5. Tracking and Monitoring Devices
    11.6. Smart Collars and Tags
    11.7. Others
12. Smart Pet Toys Market – by Geography (Market Size – $Million/$Billion) 
    12.1. North America
        12.1.1. The U.S.
        12.1.2. Canada
        12.1.3. Mexico
    12.2. Europe
        12.2.1. UK
        12.2.2. Germany
        12.2.3. France
        12.2.4. Italy
        12.2.5. Spain
        12.2.6. Russia
        12.2.7. Rest of Europe
    12.3. Asia-Pacific
        12.3.1. China
        12.3.2. India
        12.3.3. Japan
        12.3.4. South Korea
        12.3.5. Australia & New Zealand
        12.3.6. Rest of Asia-Pacific
    12.4. South America
        12.4.1. Brazil
        12.4.2. Argentina
        12.4.3. Chile
        12.4.4. Colombia
        12.4.5. Rest of South America
    12.5. Rest of the World
        12.5.1. Middle East
        12.5.2. Africa
13. Smart Pet Toys Market – Entropy
14. Smart Pet Toys Market – Industry/Segment Competition Landscape 
    14.1. Market Share Analysis
        14.1.1. Market Share by Product Type – Key Companies
        14.1.2. Market Share by Region – Key Companies
        14.1.3. Market Share by Country – Key Companies
    14.2. Competition Matrix
    14.3. Best Practices for Companies
15. Smart Pet Toys Market – Key Company List by Country Premium 
16. Smart Pet Toys Market - Company Analysis
    16.1. PetSafe
    16.2. Zippy Paws
    16.3. Multipet International, Inc.
    16.4. Kyjen Company, LLC
    16.5. Kong Company
    16.6. Benebone, LLC
    16.7. Petmate
    16.8. Ethical Products, Inc.
    16.9. Petsport
    16.10. Cheerble
 

The Smart Pet Toys Market is projected to grow at 15% CAGR over the forecast period 2024–2030.

Smart Pet Toys Market size is estimated to reach $830.5 million by 2030.

The leading players in the Smart Pet Toys Market are PetSafe, Zippy Paws, Multipet International, Inc., Kyjen Company, LLC., Kong Company and others.

Increasing Pet Ownership Popularity to Increase Product Demand, rising demand for pet subscription Boxes and Technological Advancements are some of the major Smart Pet Toys Market trends in the industry which will create growth opportunities for the market over the forecast period.

Increasing Pet Ownership Popularity to Increase Product Demand and rising demand for pet subscription Boxes are the driving factors of the market.