Global Pet Toys Market to Reach $5.4 Billion by 2030
The global market for Pet Toys estimated at US$3.5 Billion in the year 2023, is expected to reach US$5.4 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2023-2030. Plush Toys, one of the segments analyzed in the report, is expected to record a 7.1% CAGR and reach US$1.5 Billion by the end of the analysis period. Growth in the Rope & Tug Toys segment is estimated at 6.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $912.5 Million, While China is Forecast to Grow at 9.7% CAGR
The Pet Toys market in the U.S. is estimated at US$912.5 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.2 Billion by the year 2030 trailing a CAGR of 9.7% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 6.1% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$766.5 Million by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook