DUBLIN, March 12, 2021 /PRNewswire/ — The “Pet Toys – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global market for Pet Toys estimated at US$ 2.5 Billion in the year 2020, is projected to reach a revised size of US$ 3.7 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027. Plush Toys, one of the segments analyzed in the report, is projected to record a 6.3% CAGR and reach US$ 1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Rope & Tug Toys segment is readjusted to a revised 5.5% CAGR for the next 7-year period.
The Pet Toys market in the U.S. is estimated at US$ 668.2 Million in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$ 776.3 Million by the year 2027 trailing a CAGR of 8.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
In the global Balls segment, USA, Canada, Japan, China and Europe will drive the 5.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$ 278.6 Million in the year 2020 will reach a projected size of US$ 411.6 Million…