Toys and Games Market Size, Share, Growth Analysis, By Product(Electronic Games, Outdoor & Sport Toys, Dolls, Preschool Toys), By Application(Up to 8 years, 9-15 years, 15 years & above), By Distribution Channel(Offline (Hypermarkets/Supermarkets, Specialty Stores, Departmental Stores, Shopping Malls), By Region - Industry Forecast 2024-2031

Global Toys and Games Market size was valued at USD 305.43 billion in 2022, and is expected to grow from USD 319.79 billion in 2023 to a value of USD 461.78 Billion by 2031, at a CAGR of 4.7% over the forecast period (2024–2031).

The industry is growing due to a variety of factors, including parents' increasing interest in eco-friendly toys, the resurgence of classic toys and video games, knowledge of the cognitive benefits of building toys, and the explosive expansion of mobile gaming. It is also projected that the industry will be fueled by the younger generations' growing interest in traditional recreational activities. The predicted period's market expansion will probably be fueled by Millennials' rising preference for conventional games at social occasions.

Companies are actively changing their product lineups by opening online stores and selling goods through e-commerce sites like Amazon, Walmart Online, and eBay, among other local platforms, as online platforms have developed into an effective replacement for conventional marketing and sales strategies. Some people remained inside during the lockout and looked for indoor games online.

Toy sales by Curtis McGill and Scott Houdashell increased 4000% on Amazon in March 2020, while in-store sales at Walmart increased 100%. In March 2020, the puzzle manufacturer Ravens burger also noticed a spike in sales.

US Toys and Games Market is poised to grow at sustainable CAGR for the next forecast year.