USD 170.7 Billion
Toys Market Size, Share, Growth Analysis, By Product(Action Figures, Building Sets, Dolls, Games/Puzzles), By Sales Channel(Hypermarket/Supermarket, Specialty Stores, Departmental Stores, Online Channels), By Age Group(Up to 0-8, 9-15, 15+), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25J2069 |
Region:
Global |
Published Date: August, 2024
Pages:
223
|Tables:
69
|Figures:
80
Toys Market Insights
Toys Market size was valued at USD 115.5 billion in 2022 and is poised to grow from USD 119.3 billion in 2023 to USD 153.5 billion by 2031, growing at a CAGR of 3.2% in the forecast period (2024-2031).
The international toys market is a dynamic and ever-evolving industry that caters to the entertainment and academic desires of kids and creditors of all ages. This market has skilled giant changes in current years due to transferring customer alternatives, technological improvements, and global monetary traits. One of the incredible developments inside the worldwide toys market is the growing emphasis on educational and STEM (Science, Technology, Engineering, and Mathematics) toys. Parents and educators are recognizing the importance of toys that promote gaining knowledge of, creativity, and hassle-solving talents. As a result, there is a developing demand for toys that combine fun and training, such as robotics kits, coding toys, and technology test sets. Another sizable improvement is the effect of generation on toys. The integration of augmented reality (AR), digital reality (VR), and clever gadgets has given upward thrust to a new era of interactive and related toys. These toys provide immersive and attractive experiences, blurring the strains among the physical and virtual worlds. The worldwide toys market is likewise prompted with the aid of environmental and sustainability worries. Many customers at the moment are looking for toys made from green materials and are supporting brands devoted to reducing plastic waste. This has caused a surge in eco-conscious toy options, together with those crafted from recycled substances or proposing sustainable packaging. Additionally, the e-trade growth has transformed the manner toys are offered and offered. Online marketplaces and toy-unique web sites have improved the reach of toy producers, permitting clients to get entry to a giant array of products from around the world.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Dolls
Fastest Growth
Dolls
Growth Rate
4.50% CAGR
Toys Market ($ Bn)
Country Share North America Region (%)
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Toys Market Segmental Analysis
The toys market is segmented by product, age group, sales channel and region. By product, the market is segmented into action figures, building sets, dolls, games/puzzles, sports & outdoor toys, preschool toys, plush, and others. By age group, the market is segmented into Up to 0-8, 9-15, and 15+. By sales channel, the market is segmented into hypermarket/supermarket, specialty stores, departmental stores, online channels, and, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Product
In the global toys market, dolls have consistently been a dominant segment. Dolls come in various forms, including fashion dolls, collectible dolls, and interactive dolls. Brands like Barbie, American Girl, and Baby Alive have maintained their popularity over the years.The enduring appeal of dolls lies in their function in ingenious play and companionship for kids. Dolls are frequently related to storytelling and nurturing, making them a staple within the toy industry.
On the other hand, the games/puzzles segment is one of the fastest-developing segments within the global toys marketplace. This growth can be attributed to numerous elements, including the increasing recognition of board video games, card games, and puzzles amongst families and adults. The COVID-19 pandemic also contributed to the surge in call for these toys, as people spent more time at home, in search of enjoyment and attractive activities. Additionally, the upward thrust of instructional games and mind-teasing puzzles has in addition fueled the increase of this section. Games and puzzles provide an aggregate of enjoyment and cognitive development, making them appealing to an extensive range of purchasers.
Analysis By Sales Channel
Online channels have ended up the dominant sales channel in the global toys marketplace. The upward thrust of e-commerce structures and the ease of online shopping have extensively contributed to this dominance. Consumers increasingly opt for shopping for toys online due to a sizable product selection, aggressive pricing, and the benefit of comparing merchandise and reading evaluations. The online channel also lets in toy producers and retailers to attain an international audience without the limitations of physical shop locations. Furthermore, the COVID-19 pandemic multiplied the shift in the direction of online toy purchasing, with many dad and mom and present consumers opting for the protection and comfort of online purchases.
On the other hand, unique stores specializing in toys have emerged as the quickest-developing phase in the international toys market. While on line channels dominate, there's a developing call for curated and customized in-store studies, in particular for notable and specific toys. Specialty stores frequently offer a huge range of tutorial, green, and niche toys that cater to specific hobbies and age corporations. The ability to provide fingers-on reviews and professional recommendation makes forte shops a desired desire for lots of dad and mom and gift shoppers. Additionally, those stores regularly host events, workshops, and demonstrations, creating a feel of network and exhilaration around toy buying. As consumers are seeking for more significant and tactile reports, specialty stores are thriving in this evolving marketplace.
Toys Market By Product
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Toys Market Regional Insights
The global toys marketplace is analyzed based on its local presence, which incorporates North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America, specially the USA, has historically been a dominant pressure within the worldwide toys marketplace. Factors contributing to its dominance encompass a big populace of children, sturdy purchaser buying strength, and a mature retail infrastructure. Iconic toy businesses like Mattel and Hasbro, based totally in the United States, have a global presence and play a great role in shaping the market. Additionally, the region's urge for food for certified toys tied to famous films and TV shows has pushed consistent demand.
As for the fastest growing phase, the Asia-Pacific region, especially international locations like China and India, has been one of the fastest-developing regions in the worldwide toys marketplace. Rising disposable incomes, urbanization, and a burgeoning center-magnificence population have fueled multiplied spending on toys and educational merchandise. Moreover, the region has seen the emergence of neighborhood toy manufacturers and a surge in e-commerce income channels, further increasing. China, especially, has witnessed large growth in its toy market, with a focus on revolutionary and tech-pushed toys.
Toys Market By Region
- Largest
- Fastest
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Toys Market Dynamics
Drivers
Economic Growth and Disposable Income:
- Economic boom in rising markets and growing disposable income stages in many areas have been giant drivers for the toys market. As households have extra money to spend on non-crucial items, including toys, the call for a wide variety of toys has elevated. This is in particular true in nations wherein the center class is increasing and in which parents are inclined to spend money on their children's improvement and entertainment.
Technological Advancements and Innovation:
- Rapid improvements in the era have had a profound effect on the toy market. The introduction of clever toys, augmented fact (AR), digital reality (VR) toys, and other excessive-tech merchandise has created new opportunities and excitement within the enterprise. These progressive toys offer better interactivity, academic advantages, and enjoyment value, riding patron interest and sales.
Restraints
Safety and Regulatory Concerns:
- Safety worries were a great restraint on the toy market. Product recollections due to protection troubles, along with small elements that pose choking dangers or toxic substances, can tarnish a business enterprise's recognition and reduce patron trust. Governments and regulatory bodies have imposed stricter protection standards and regulations, which could increase manufacturing costs and limit the sorts of substances that can be used in toy manufacturing.
Competition and Market Saturation:
- The toys market is extraordinarily aggressive, with several hooked up and emerging players vying for market percentage. The market can become saturated with comparable kinds of toys, making it difficult for businesses to distinguish themselves and hold profitability. Additionally, the upward push of virtual leisure and electronic devices has multiplied competition for kid's interest, diverting their hobbies faraway from conventional toys.
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Toys Market Competitive Landscape
The worldwide toys marketplace features a highly aggressive panorama characterized with the aid of a numerous variety of gamers, from multinational giants to areas of interest, modern startups. Some of the essential industry leaders encompass Mattel, Hasbro, LEGO Group, and Spin Master, that have hooked up their dominance with iconic brands like Barbie, Transformers, LEGO, and Paw Patrol, respectively. E-commerce giants like Amazon and Alibaba have also turned out to be key players in the marketplace, leveraging their giant on line structures to offer a wide selection of toys. Additionally, the licensing of famous characters and franchises from films, TV shows, and video video games has intensified opposition, with agencies like Disney, Warner Bros., and Nintendo extending their influence into the toy sector. Furthermore, the marketplace has witnessed a surge in eco-friendly and educational toy brands like Melissa & Doug and VTech, catering to the growing call for for sustainable and academic play reports. This competitive landscape encourages constant innovation and product differentiation as companies strive to capture the attention of tech-savvy, environmentally conscious, and discerning consumers in the ever-evolving global toys market.
Top Player’s Company Profile
- Mattel, Inc. - United States
- Hasbro, Inc. - United States
- LEGO Group - Denmark
- Bandai Namco Holdings - Japan
- Spin Master - Canada
- VTech Holdings Ltd. - Hong Kong
- Tomy Company, Ltd. - Japan
- MGA Entertainment - United States
- Jakks Pacific, Inc. - United States
- Ravensburger - Germany
- Hape International - China
- Playmobil - Germany
- Moose Toys - Australia
- Simba Dickie Group - Germany
- WowWee - Hong Kong
- Clementoni - Italy
- TOMY - Japan
- Goliath Games - Netherlands
- Jazwares - United States
- TOMY International - United States
- Mega Brands - Canada
- Wicked Cool Toys - United States
- Outset Media - Canada
- Zuru Toys - New Zealand
- JAKKS Pacific (Canada) Inc. - Canada
Recent Developments
- In January 2023, LEGO Group announced a partnership with Epic Games to create a new line of LEGO sets based on the popular video game Fortnite.
- In February 2023, Mattel released a new line of Barbie dolls that are designed to be more inclusive and representative of real-world diversity.
- In March 2023, Hasbro announced that it will likely be liberating a new edition of its conventional board recreation Monopoly that functions a girl mascot, Ms. Monopoly.
- In April 2023, Spin Master released a brand new line of toys based on the popular children's TV show Paw Patrol.
- In May 2023, VTech launched a new line of tutorial toys which might be designed to teach children about coding and robotics.
Toys Key Market Trends
- Growing Emphasis on Educational Toys: There became a great shift in consumer alternatives toward academic and STEM (Science, Technology, Engineering, and Mathematics) toys. Parents and caregivers were increasingly more searching for toys that no longer only entertained but also presented educational fees to their youngsters. This fashion became driven by the preference to promote mastering and talent development from a younger age. As a result, toy producers were introducing a wide variety of tutorial toys, including robotics kits, science experiments, and coding games.
- E-commerce and Online Sales: The toys market, like many different retail sectors, saw an extensive increase in online sales and e-trade. Online searching for toys has become more famous due to its comfort, in particular during the COVID-19 pandemic whilst bodily stores confronted restrictions and closures. Major e-commerce systems and toy shops extended their online presence and provided a variety of toys, regularly at aggressive costs.This trend was expected to continue, with e-commerce channels becoming a crucial distribution and sales channel for toy manufacturers.
Toys Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component type Toys m that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global toys market analysis, the market has been marked by remarkable evolution and resilience. It is characterized by an ever-expanding array of products, influenced by changing consumer preferences and technological advancements. With a growing emphasis on educational and interactive toys, the market has shifted towards fostering cognitive development and creative play in children. Digitalization has played a pivotal role, with tech-infused toys, augmented reality, and smartphone apps enhancing the overall play experience. Additionally, licensing agreements with popular media franchises have driven sales of toys related to movies, TV shows, and video games. The market's growth has also been facilitated by the e-commerce boom, making it easier for consumers to access a wide variety of toys online. However, the industry faces challenges, including concerns over the safety of certain toys and increasing regulations. Sustainability and eco-friendly toys have gained prominence in response to environmental concerns. Furthermore, the COVID-19 pandemic significantly impacted the market as lockdowns increased demand for at-home entertainment. As the market continues to evolve, toy companies must remain innovative and adapt to changing consumer demands, while also addressing sustainability and safety issues. The global toys market is likely to remain vibrant, driven by the enduring appeal of play and the potential for continued technological integration.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 115.5 billion |
| Market size value in 2031 | USD 153.5 billion |
| Growth Rate | 3.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Toys Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Toys Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Toys Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Toys Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Toys Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Toys Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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