Pet toys are used by pets to use their excess energy and play. Pet toys provide physical and mental stimulation and enhancement. They help prevent pets from scratching, chewing, and digging on furniture, couch, and shoes. These are also used to train the pets and humanize them. Pet owners tend to choose safe and reliable products for their pets. The safety of pet toys depends upon the product size, material, play style, pet size, and activity level.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers And Impact Analysis
There are different types of pet traction ropes available in the market. Customers can choose from these according to their pet’s comfort and affordability. This availability of wide range of pet traction belts increases the demand for this product in the market. Increase in pet ownership in the Asia-Pacific region drives the growth of the market. Moreover, surge in the usage of e-commerce platform has significantly increased the sale of pet toys on these platforms.
The global pet toys market trends are as follows:
New product launches to flourish the market
There has been an increase in demand for eco-friendly and natural pet toys. The companies are engaged in launch of new innovative eco-friendly pet toys and accessories products to serve this rise in demand.
Companies are also engaged in creating durable, resilient, stylish, chic, and pet friendly toys. For instance, in July 2019, Wild One, a leading market player in the pet toys industry has introduced a product line of well crafted and understated dog toys. This collection includes range of pet toys products such as bolt bite, twist toss and triangle tug which comes in variety of colors along with sleek designs. The company claims it to be made of 100% natural and non-synthetic cotton and rubber.
COVID-19 Scenario Analysis:
The COVID-19 outbreak has caused a decline in the growth of the global industries creating a mass disruption for buyers as well as sellers. Markets and production units have been shutdown globally which has stopped the production, sale, and marketing of the product. This has also offered an opportunity for the companies to look after their supply chain relationship and business models for the future.
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Key benefits of the report:
- This study presents the analytical depiction of the global pet toys industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global pet toys market share.
- The current market is quantitatively analyzed to highlight the global pet toys market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global pet toys market analysis based on competitive intensity and how the competition will take shape in the coming years.
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