Pet Toys Market Analysis 2018-2023 and Forecast 2024-2028 Featuring Petmate, Radio Systems, Multipet International, Coastal Pet Products, ChuckIt - Rising Interest in Pet Subscription Boxe...
UNICHARM CORP S/ADR (UNICY)
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Source: Yahoo! Finance
The global pet toys market has grown strongly in recent years. It will grow from $3.04 billion in 2023 to $3.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The expansion witnessed during the historical period can be attributed to several factors. These include the rising demand for private labels in the pet industry, the increasing popularity of pet subscription boxes, a growing interest in pet ownership among consumers, the rising adoption rates of pets, and an increasing preference for eco-friendly and sustainable pet toys among environmentally-conscious consumers. The pet toys market is expected to see strong growth in the next few years. It will grow to $4.42 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period is driven by several factors. These include the increasing demand among millennials and young children for pet-related products, the growing popularity of pet ownership leading to expanded pro
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