Market Overview
Toys play a major role in the development of a child. Incorporating the right toys at an early stage assists in promoting the overall development and reduces the chances of mental and physical growth. Toys also help in bridging an emotional gap, besides enhancing their quality of interactions. The global toys market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 5.2%, surpassing a valuation of toys is USD 275.65 billion during the forecast period (2022-2030).
The ongoing trend of parents to invest in and purchase educational toys for cognitive development in children is predicted to influence the growth of the toys market across the globe. The surging number of television shows and movies based on fictional characters is estimated to create a cult following among consumers. Such factors are expected to increase the sales of toys globally. Moreover, the advent of the box subscription will revolutionize toys market in the foreseeable future. The surging popularity of licensed merchandise toys coupled with the increasing demand for educational games, will propel the market growth in the coming years.
On the contrary, fluctuating exchange rates, coupled with the rising preference for advanced gaming consoles, will restrict the market growth in the long run.
Competitive Dashboard
The top players operating in the toys market include Mattel, Inc. (US), The LEGO Group (Denmark), Playmates Toys Limited (Hong Kong), Hasbro, Inc. (the US), Kenner Products (US), Tomy Company, Ltd (Japan), Jazwares, LLC (US), Spin Master Ltd (Canada), Funko Inc. (US), VTech (Hong Kong), Tru Kids Brands (US), NECA (US), Basic Fun, Inc. (US), and MGA Entertainment Inc. (US).
Global Toys Market: Segmental Analysis
The toys market has been segmented on the basis of type and distribution channel.
By type, the market is segmented into soft toys and dolls, preschool toys, arts and crafts toys, action toys, vehicles, construction toys, and others. Of these, the vehicles segment is predicted to dominate the market owing to the high appeal of miniature motorcycles and cars among the children. Advancements made in the production of toy vehicles such as battery-operated, automated, realistic features like bonnets and operable doors and themes are likely to increase their demand among the children. Meanwhile, action toys are predicted to expand at the fastest rate as popular action figures are evolving every year in terms of detail as well as realism.
Based on the distribution channel, the market is segmented into store-based and non-store-based. Of these, the store-based segment is likely to command the largest share owing to strong vendor networks and high product appeal due to high-end packaging. Moreover, consumers get the opportunity to examine the product before purchase, which further augments the sale of the products in the segment.
Regional Frontiers
Based on the region, the toys market reports covers growth opportunities and latest trends across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, the toys market in North America is estimated to command the largest share globally. The region is estimated to retain its position in the foreseeable future, mainly due to the existence of established toy manufacturers, coupled with the popularity of superhero movies in the region. The success of collectibles, including mini-cars, cards and stickers, coins, figurines and doll antiques, comic books, and stamps in the U.S. in 2018 was a major trend influencing the regional market growth. The surging demand for collectibles received a boost in 2018 from an influx of successful brands like and Fingerlings from WowWee Group Limited and LOL Surprise! from MGA Entertainment Inc.
The toys market in the Asia Pacific will register the highest CAGR in the coming years due to the surge in growth of the organized retail sector and rising importance of educational games for child development. Increased product promotion and the launch of technologically advanced toys, especially in the regions of China, Japan, and Indonesia will add impetus to the market growth.
Industry Updates
September 2019: A haunted Lego set with a 3D version of blaster guns and a ghost-catching app from the Fortnite video game are estimated to be among the bestsellers at Hamleys this Christmas.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
