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 toys and games market is highly competitive, with numerous players operating globally. These companies compete on various factors such as product innovation, quality, price, distribution, and marketing strategies. Many of these companies have also expanded their product offerings beyond traditional toys and games to include digital and interactive toys, as well as licensed products based on popular movies, TV shows, and characters. The market is also seeing increased competition from online retailers and e-commerce giants such as Amazon and Alibaba, who are rapidly expanding their presence in the toys and games market. 'Mattel Inc.', 'Hasbro Inc.', 'LEGO Group', 'Nintendo Co. Ltd.', 'Bandai Namco Holdings Inc.', 'Ravensburger AG', 'Spin Master Ltd.', 'Tomy Co. Ltd.', 'Jakks Pacific Inc.', 'Jazwares LLC', 'Funko Inc.', 'Playmates Toys Inc.', 'Moose Toys Pty Ltd.', 'K'NEX Industries Inc.', 'Playmobil GmbH', 'MGA Entertainment Inc.', 'Hape International Inc.', 'VTech Holdings Ltd.', 'TOMY International Inc.', 'LeapFrog Enterprises Inc.'

As disposable incomes rise around the world; parents have more money to spend on toys and games for their children. This has led to a growing demand for high-quality, educational, and interactive toys that can aid in children's development.

Digital and interactive toys: As technology advances, the market for digital and interactive toys is rapidly growing. Toys and games that incorporate augmented reality (AR) and virtual reality (VR) technology, as well as those that can be controlled with smartphones or tablets, are becoming increasingly popular among consumers.

Asia Pacific exceeded all other regions in 2021 with more than 41.1% of the worldwide revenue. As a result of the region's increased awareness of branded and licensed games and toys in general, Asia Pacific is one of the most lucrative areas. The sizable local population is another key factor in this sector. By 2030, Asia's population, excluding Western Asia, would rise from 4,326 million to 4,654 million, according to the United Nations' "World Population Prospects 2019" report. These reasons make the Asia Pacific region a promising market for toy and game manufacturers in the future.