The toys market is expected to generate $275.65 billion in revenue by 2030 at a CAGR of 5.2%

Future of Market Research

Type of Toys Market Size and Trend Analysis (Preschool Toys, Stuffed Toys & Dolls, Action Toys, Arts & Crafts Toys, Construction Toys, Vehicles and Others), Distribution Channel (in store [Supermarkets and Hypermarkets, Specialty Stores and others] and non-store) and region (North America, Europe, Asia-Pacific and rest of the world) – Forecast to 2030

New York, U.S., June 23, 2022 (GLOBE NEWSWIRE) — Overview of the toys market:

Market Research Future (MRFR) report highlights “toy market Research Report: Insights by Type, Distribution Channel and Region – Forecast to 2030“, the market is expected to register a growth rate of 5.2% from 2022 to 2030 and reach a market size of $275.65 billion by the end of 2030.

Market scope:

Toys have been around for centuries across the world and continue to develop based on consumer demands. They started with basic wooden toys and progressed to more complex and engaging toys. Since toys entertain young people, the toy and game industry has been popular for a long time. As long as children continue to be born, the global market will experience an inherent demand. Toys have been in demand for a long time and children are still pushing their parents to buy them toys today. Every year, children of various ages, ranging from infants to toddlers, buy toys. With the development of technology, adults and children have a greater variety of entertainment options.

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Report Scope:

Report attribute

Details

Market size 2030

$275.65 billion

CAGR

5.2% (2022-2030)

Year of reference

2021

Forecast period

2022-2030

Historical data

2020

Forecast units

Value (USD million)

Report cover

Revenue forecasts, competitive landscape, growth factors and trends

Segments Covered

By type, distribution channel and region

Geographical areas covered

North America, Europe, Asia-Pacific and Rest of the World (RoW)

Key Market Drivers

Increase recognition of the cognitive benefits of certain games for children

Competitive dynamics:

The competitive landscape of the market is composed of its key players and major producers. The main market competitors are:

  • The LEGO Group

  • Mattel, Inc.

  • Hasbro, Inc.

  • Playmates Toys Limited

  • Tomy Company, Ltd.

  • Kenner Products

  • Spin Master Ltd

  • Jazzwares, LLC

  • VTech

  • funko inc.

  • NECA

  • Brands TruKids

  • MGA Entertainment Inc.

  • Basic Fun, Inc.

  • WowWee Group Limited

Market dynamics:

Market factors:

The growing recognition of the cognitive benefits of certain children’s games is one of the main factors driving the growth of the toys market. Modern parents are experimenting with unorthodox parenting techniques. Buying toys and games that support a child’s learning and development is a popular trend among parents. Parents want their children to learn and be active while playing. Therefore, they buy toys with educational and learning influences. Thus, this trend of buying toys with many functions for children contributes greatly to the expansion of the toy market.

Millennials want to revisit the era of the 1990s, closely associated with their upbringing. This new adult trend offers an opportunity to appeal to a whole new audience group willing to spend money on nostalgic old-school toys. People are also looking for upgraded versions of these games which are superior to the originals. As people spend more time at home, they are turning to traditional toys and games to interact with their family. Thus, future manufacturers in the Toy Market can consider these new perspectives to develop retail collectibles and old-fashioned toys.

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Market Limits:

Today’s fluctuating exchange rates and high prices are one of the biggest constraints in the industry. Despite the fact that people’s discretionary income has passed a certain threshold, they are still unwilling to spend much on toys and games. People are also bothered by fluctuations in exchange rates; therefore, they prefer not to buy and purchase decisions are delayed.

COVID-19 Analysis:

The COVID 19 pandemic has affected all sectors of the global market. In terms of impact, the global market has contributed to the economic slowdown and disruption of the pandemic. First, the lockdown limitations crippled the entire toy production industry, resulting in insufficient market supply. Also, as people’s wages fell during the pandemic period, they were less inclined to buy toys and games for their children. Consequently, the toy market witnessed a drop in supply, demand, and revenue at the onset of the pandemic. Nevertheless, he rebounded throughout the next phase.

Recognizing that children are no longer able to attend school and preschool is one of the main causes of Toys Market’s comeback and growth in the post-pandemic era. Since the children and infants were unable to attend daycare for a few years, their parents had to buy toys and activities to keep them occupied at home. Additionally, parents of children in the learning phase purchased educational toys and participated in e-learning. Consequently, toy sales recovered and increased in subsequent epidemic waves.

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Market segmentation :

By type

Due to the importance of hobbies, the arts and crafts sector is expected to see the highest demand.

By distribution channel

Factory outlets in the shopping section, which include specialty merchants, brand stores and hypermarkets, usually stock a variety of sweet and attractive goods. This will likely drive consumers to purchase products from these stores, which will lead to increased revenue for the category. Additionally, the expanding infrastructure facilities associated with specialty toy stores and branded stores are expected to increase the revenue from the offline segment.

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Regional assessment:

North America’s growing spending on entertainment-related equipment such as toys, hobbies, and playground equipment is expected to drive the market over the forecast period and achieve the highest regional growth rate. raised. Additionally, the growing trends in the giftware industry among the population are contributing to the expansion of the market in the region.

Recent government measures surrounding the development of the industry in countries like India, China, and Japan are responsible for the fastest growth in the Asia-Pacific region. In addition, the growing popularity of arts and crafts products among Chinese children is contributing to the expansion of the regional market.

The provision of excellent sports related equipment import facilities in countries like UK and Germany is driving the market in Europe. These import capacities allow these countries to offer their distribution points a variety of toy products, which should increase the regional consumption rate.

The growing presence of prominent companies in the MEA area from countries such as Saudi Arabia and UAE is expected to facilitate the delivery of these game consoles to the people of these countries, thus helping the expansion of the market.

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