ROCKVILLE, Md., July 27, 2017 /PRNewswire/ — Toys is the largest durable dog and cat petcare category with sales crossing the $1 billion threshold in 2016, up from $851 million in 2011. This reflects a compound annual growth rate (CAGR) of 4%, according to market research firm Packaged Facts in the brand new report Dog and Cat Toys: U.S. Pet Market Trends and Opportunities. Packaged Facts forecasts similar annual gains looking ahead to 2020.
As in the overall market, dogs account for the lion’s share of sales, at 75% in 2016, with cats accounting for the remaining quarter. Dog toys continue to see steady growth in sales as one of the faster growing segments within the durable petcare category. Much of the growth can be attributed to the steady demand in sport and fetch toys as well as renewed interest in chew toys and a new love of more durable plush toys. Packaged Facts pinpoints the uptick in chew and plush dog toys as a promising opportunity for both pet product manufacturers and retailers.
Historically, dog owners have always been more willing to purchase toys for their pets than cat owners, notes David Sprinkle, research director for Packaged Facts. A look at households by pet type over the last six years shows this trend has been consistent over the entire period. It is also worth noting that the percentage of households with either cats or dogs purchasing toys has stayed above 53% for this period as well, although there have been larger shifts in the percentage of households buying toys that own just cats or just dogs. However, the biggest change, and a positive one at that, is in households with both cats and dogs. In these homes, toy purchasing has gone from 57% of households buying toys in 2011 to 67% of households in 2016.
Pet humanization and “pets as family” trends…