Toys Market: Global Industry Analysis and Forecast (2023-2029)

Market Dynamics and Growth Factors:

Toys Market

Toys Market Definition:

Toys, including those from popular video games like the best video games of all time and upcoming video games, are essential for children's cognitive development. Festivals provide a platform for the promotion of toys, including China dolls and dancing dolls, while extreme toy stores offer a wide range of options. As the biggest toy shop in the world, TopMarks Toy Shop is renowned for its selection of educational toys, sensory toys, and games. Brighton Toy Shop is a leading online toy store specializing in children's toys and gifts, such as keepsake dolls and sensory dough. The market is segmented by product, age group, distribution channel (online and offline), and geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa). Market sizing and forecasts are based on value (USD Billion).

Toys Market Dynamics:

Companies are focused on delivering a wide range of gaming products that bring excitement to children as they unbox them, driving the growth of the toy market. Scented items and brain training cubes, along with educational board games, are gaining popularity among children, contributing to the overall market growth. Manufacturers are developing dolls tailored for children's festivals, leading to increased revenue. The introduction of environmentally friendly gaming products made from bamboo, clay, and recycled plastic components is addressing the demand for sustainable toys. The shift towards console and joystick games and the growing trend of indoor leisure activities are creating new opportunities in the market. Collaborations with marketing agencies and social media influencers help companies build a strong brand image and generate revenue. The demand for multi-colored toys for preschool children is also on the rise, driven by parents seeking educational experiences beyond the classroom.

Toys Market Segment Analysis:

The dolls segment holds a dominant position in the toys market, accounting for 30% of the market share in 2021. Companies are capitalizing on the popularity of animated films by releasing dolls inspired by the characters. For instance, The Walt Disney Company launched a collection of Star Wars dolls called 'Triple Force Friday' in October 2020. The availability of dolls in various shapes and categories, including vintage, modern, and antique, contributes to the significant revenue generated by this segment. The demand for dolls is expected to continue growing due to their association with popular film plots and the diverse options they offer to consumers.

Growing Demand for Outdoor and Sports Toys:

The outdoor and sports category is projected to grow at a CAGR of 8.97% during the forecast period, driven by parents' concerns for their children's health and fitness. This category includes outdoor products such as play tents, pools, aeroplanes, and other items that encourage children to engage in outdoor activities like hiking, touring, camping, and more. The increasing participation of consumers in sports activities also contributes to the growth of this segment. Parents are actively seeking toys that promote physical activity and outdoor play, leading to rising demand for outdoor and sports toys in the market.

Toys Market By Product

Offline Segment Dominates the Market:

The offline segment holds the majority market share, accounting for 54% in 2021. Specialized retailers, brand stores, and hypermarkets offer a wide range of appealing and soft merchandise at their physical outlets, attracting customers and driving revenue growth in this segment. The presence of dedicated toy stores and brand outlets with improved infrastructure further contributes to the strong performance of the offline segment.

Rapid Growth of the Online Segment:

The online segment is experiencing rapid growth, fueled by the increasing popularity of online shopping among consumers worldwide. Online platforms like toycart.com, amazon.com, and others offer convenience and often provide discounts and coupons on specific toy purchases, driving consumer interest and boosting sales in the online segment. The ease of browsing and ordering toys online, along with the attractive promotional offers, contributes to the growth of this segment's revenue.

North America Dominates the Market:

North America holds the largest market share, accounting for 37% in 2021. The region's higher spending on toys, hobbies, and playground equipment, along with the strong gift-giving culture, contributes to its market dominance. The average entertainment-related gadget spending in the United States, reaching USD 3.05 million in 2019, showcases the region's affinity for toys and related products.

Rapid Growth in the Asia Pacific Region:

The Asia Pacific region is experiencing significant growth, driven by government initiatives to promote the industry in countries like India, China, and Japan. Measures such as the Production Linked Incentive (PLI) scheme in India encourage local manufacturing and meet domestic demand. Additionally, the growing popularity of art and craft-based products among children in China contributes to market expansion in the region.

Toys Market: Key Players and Market Analysis:

The Toys market is characterized by the presence of several well-established companies, including both global giants and small to mid-sized competitors. These key players possess a wide range of products, global reach, and strong market presence. Additionally, the market features self-publishing organizations offering a limited variety of items.

The major players in the market leverage their extensive global networks to cater to a large customer base, giving them a significant influence. Key players, especially in North America and Europe, are implementing strategic initiatives such as acquisitions, new collection launches, and partnerships to drive revenue growth and strengthen their market positions.

The objective of this report is to provide stakeholders with a comprehensive analysis of the Global Toys market. It highlights the dominant trends and their impact on new business investments and market development throughout the forecast period. The report also examines the market dynamics and competitive structure by analyzing market leaders, followers, and regional players.

The report offers qualitative and quantitative data to understand the growth potential of market segments and regions, factors influencing the market, and key areas of opportunity that will drive industry and market growth. It also presents the competitive landscape of key players in the industry, along with their recent developments in the Global Toys market. Factors such as company size, market share, growth, revenue, production volume, and profitability are studied to assess the performance of key players in the market.

Key Player Insights

The report incorporates Porter's Five Forces Model to assist in the formulation of business strategies in the Global Toys market. It provides insights into the number of competitors, their identities, and the quality of their products. Furthermore, the report analyzes the market's ease of entry for new players, the frequency of market entry and exit, and the dominance of a few players.

Additionally, a PESTEL analysis is included to guide company strategies. Political factors determine the extent of government influence on the Global Toys market. Economic factors help assess the drivers of economic performance that impact the market. Legal factors contribute to understanding the impact of the regulatory environment and legal considerations on the Global Toys market. Environmental factors shed light on the influence of the surrounding environment and environmental concerns on the market.

Toys Market Scope:

Market Size in 2022

USD 209.12 Bn.

Market Size in 2029

USD 826.89 Bn.

CAGR (2023-2029)

21%

Historic Data

2017-2021

Base Year

2022

Forecast Period

2023-2029

Segment Scope

by Product

  • Dolls
  • Outdoor and Sports Toy
  • Building and Construction Set
  • Infant and Preschool Toy
  • Games and Puzzles
  • Others

by Age Group

  • 0-3 Years
  • 3-5 Years
  • 5-12 Years
  • 12-18 Years
  • 18+ Years

by Distribution Channel

  • Offline
  • Online

Regional Scope

North America- United States, Canada, and Mexico

Europe ‚Äď UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe

Asia Pacific ‚Äď China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa

South America ‚Äď Brazil, Argentina, Rest of South America


TOYS MARKET KEY PLAYERS:


Toys Market Top Physical Stores in America: