Toy Dog Market Forecast and CAGR
According to the latest research by Fact.MR, the toy dog market is set to witness moderate growth during 2021-2031. Demand for these toys will witness steady recovery in the short term, with an optimistic growth outlook in the long run. Increasing expenditure on toy dogs by the consumers and adoption of products by different age groups to reduce stress and loneliness are the major driving factor in this business. Being a pre-established market shows that the demand here is quite high and the path for new entrants is clear.
What is Driving the Demand for Toy Dog Market?
The requirement pertaining to toy dogs differs from person to person. The majority of the toy purchasers are the ones buying it to keep their little ones engaged and avoid the mess at home. Also, the social media trend among teenagers of posting pictures with their fluffy toys to gain likes and followers is one of the major driving factors.
Apart from that, the demand from the aging population is expected to increase owing to the need for a companion during lone times. All these points collectively trigger the increasing demand for these toys and thus, creating ample opportunities for the manufacturers and suppliers in this business.
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Key Factors Supporting the Surge in Toy Dog Sales
Factors below explain the importance of toy dog in different age groups:
- Smart interactive dog toys are more effective in teaching younger kids rhymes and easily makes them learn it
- They engage ones, kids, during their absence
- Soft toy acts as a stress reliever for busy working-class people under stress
- Infants and kids develop speaking skills while pretending to interact with the toys
- They build empathy and compassion in younger ones thus, develop an appreciation for relationships during pretend playing with the toy
- Among, elderly people keeping such stuffed dogs with them avoids loneliness and keeps them occupied
All these positive points are the major factors responsible for surging demand from the consumer. Thus, contributing to the growth of the toy dog business as a whole.
East Asia Toy Dog Market Outlook
East Asia accounts for major toy production globally. China is the top contributor to this and possesses more than sixty percent in this business. China has surplus production of toys in its inventory from all the categories may it from soft dog toys to electronic controlled toys. Every year China exports more than fifty billion dollars worth of toys around the globe and has limited imports in the same.
This has been possible due to the fact that China has a lot many toy dog manufacturers. Thus, the country is highly fragmented with a lot many listed and unlisted manufacturers. In addition to that, the country has an abundance of raw materials available for manufacturing such toys as electronics, plastics, cotton stuff, etc. And also manufacturing costs of such products is quite low here. Owing to these points, entry for new players is significantly easy in this country, which has led to such a fragmented market.
COVID-19 had a significant impact on all the businesses in this region. China is one of the first countries affected by COVID-19 in early 2020. Which has led to mass disruption in the supply and demand of various products. The regulatory authorities in the region focused mainly on the supply of essential goods. Toy dogs don’t lie in such a category. Thus, both its production and demand were significantly dropped. Projecting a negative drop in sales.
Despite reduced COVID-19 cases and resumed manufacturing works, the demand for toy dogs has not experienced much growth. The business is expected to fully recover by the end of 2021, showcasing moderate growth during the same timeframe.
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US Demand Outlook for Toy Dog Market
The US is one of the prominent country driving both demand and production of toy dogs. The country has a high number of toy imports in a year, which is worth more than thirty billion and also export near about six billion worth toys from its end.
United States is one of the countries with high disposable income. People are extensively spending on their children, which also includes expenditure on toys. Toy dogs are more attractive and appealing for the younger ones and thus, are purchased more by the parent for their younger ones.
Parents having a habit of shopping online are frequently searching for toys, which could interact and speak with their younger ones to keep them engaged. Owing to such factors manufacturers in the country are introducing interactive toy dog, which could teach both rhymes and mimic that same saying as of the kid.
The toy dog business in this country is expected to grow at a steady rate and is solely dependent on the frequency of increased expenditure by the purchase of such toys.
Who are the Key Manufacturers and Suppliers of Toy Dog?
Some of the leading manufacturers and suppliers of Toy Dog include FurReal friends, Liberty Imports, VTech, Sophia's, Basic Fun, Haktoys, Joy For All, Dongguan Yuankang Plush Toys Co., Ltd., Shandong Kids Keen Toys Co., Ltd., Yangzhou Guan Yue Houseware Co., Ltd. and other prominent players.
The toy dog business is highly fragmented in nature. Key players are practicing various organic strategies to sustain in the market. By offering bundled products for sale, they are easily attracting newer customer towards them. Also, the majority of the key players are switching to online mode from offline owing to ease of purchasing for the customer due to the ongoing pandemic. Allowing them to create ample business opportunities to gain monetary benefits.
An Adaptive Approach to Modern-day Research Needs
Toy Dog Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Category Type
- Soft Toy Dog
- Stuffed Toy Dog
- Plush Toy Dog
- Push Pull Toy Dog
- Electronic Controlled Toy Dog
- Interactive Toy Dog
- Remote Controlled Toy Dog
- Wired Control
- Wireless Control
By Age Group
- 0-2 Years
- 2-4 Years
- 5-7 Years
- 6-9 Years
- 10 Years & Up
By Distribution Channel
- Online Mode
- Super and Hyper Markets
- Convenience Store
- Offline Mode
- Direct Sales
- Third Party E-Commerce Sales
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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