11 Mar Toys market
The toys market size was valued at $92.2 billion in 2019, and is expected to reach $103.8 billion by 2027, registering a CAGR of 2.5% from 2021 to 2027. The sports and outdoor toys segment led in terms of toys market share in 2019 and is expected to retain its dominance throughout the forecast period.
Toys play a crucial role in the growth and development of the children. Toys plays a vital importance in brain development as toys aids in acquiring logical and reasoning skills, helps in gaining spatial reasoning along with logical skills. Playing with toys and board games also assists children in learning as well as building social and communication skills. The rise in demand for strategy-based & educational based toys among the children propels the growth of the toys market. In addition, the Chinese government last year relaxed its decades-old one-child policy, allowing all couples to have two kids to address the challenge of an aging population. Thus, the number of kids is expected to increase in the upcoming years thus positively impacting the toys market growth.
China is the major exporter of toys across the world. China exports of toys have tripled in the last decade with about $30 Billion of exports in the global market. US and EU accounts for about 58% share with the former constituting about 31% of the toys export. In order to end monopoly of the China and to boost indigenous production of toys various governments are taking steps towards local production of toys. Recently, the government of India has increased the import duty on toys by 200% in February and made toy quality certification mandatory in order to revive the indigenous industry. The Production-Linked Incentive (PLI), Phased Manufacturing Programme (PMP) schemes, labor reforms and corporate tax rates that are among the lowest among peer nations are likely to boost the local manufacturing of toys in the Indian Subcontinent. On the similar lines the U.S. government has increased tariffs on $200 billion of Chinese goods to 25% from 10% under the trade war conflicts. They account for roughly 50% of all Chinese exports to the U.S. including toys, smartphones, shoes, video game consoles and other intermediate & capital goods. These increased tariffs on Chinese goods will hike prices for consumers and negatively impact the market. It is pertinent to note that tariffs hikes might negatively impact the market for short duration however, with the boosting of local production the negative impact is likely to diminish.
The global consumer goods industry is impacted profoundly amidst the outbreak of the coronavirus. The outbreak was first witnessed in China resulting in lockdown and ceasing of production activities across the country. The demand for toys and games is expected to slightly taper across the world, owing to supply chain disruptions and implementation of stringent restrictions to follow social distancing & consistent lockdown across the world. Implementation of stringent lockdown across world has resulted in disruption of supply chain and interruption in the production activities. With changing global dynamics and high volatility in the market, the overall impact of corona virus remains highly uncertain.
Segment review
The toys market is segmented into product type, age group, sales channel and region. By product type, the global market is classified into action figures, building sets, dolls, games/puzzles, sports & outdoor toys, plush and others. By age group, it is studied across upto 5 years, 5 to 10 years, and above 10 years. By sales channel, the market is divided into hypermarket/supermarket, specialty stores, departmental stores, online channels and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of product type, the global toys market is segmented into action figures, building sets, dolls, games/puzzles, sports and outdoor toys, plush, others. Sports and outdoor toys segment leads in terms of market share and however, action figure segment is poised to grow with highest CAGR during the forecast period.
On the basis of age group the global toys market is segments into Upto 5 Years, 5 to 10 Years, and Above 10 years. 5-10 years constitutes the major share in the global market and is poised to grow with highest CAGR during the forecast period.
Some of the key players profiled in the toys market analysis includes Atlas Games, Clementoni S.p.A., Goliath Games, Hasbro, Inc., The LEGO Group, Mattel, Inc., Ravensburger AG, Tomy Company, Ltd, Vtech Holdings, and Thames & Kosmos.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging toys market trends and opportunities.
- The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing toys market opportunities in the market.
- The toys market forecast is offered along with information related to key drivers, restraints, and opportunities.
- The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
Key Market Segments
- By Age Group
- Upto 5 Years
- 5 to 10 Years
- Above 10 Years
- By Product Type
- ACTION FIGURES
- BUILDING SETS
- Dolls
- Games and Puzzles
- Sports and Outdoor Toys
- Plush
- OTHERS
- By Sales Channel
- HYPERMARKET/SUPERMARKET
- SPECIALTY STORES
- DEPARTMENTAL STORES
- ONLINE CHANNELS
- OTHERS
- By Region
- NORTH AMERICA
- US
- CANADA
- MEXICO
- EUROPE
- UK
- GERMANY
- FRANCE
- ITALY
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- INDIA
- JAPAN
- ASEAN
- AUSTRALIA
- REST OF ASIA-PACIFIC
- LAMEA
- BRAZIL
- SAUDI ARABIA
- SOUTH AFRICA
- REST OF LAMEA
- Key Market Players
- ATLAS GAMES
- CLEMENTONI
- .GOLIATH GAMES
- HASBRO
- THE LEGO GROUP
- MATTEL
- RAVENSBURGER
- TOMY
- VTECH HOLDINGS
- THAMES & KOSMOS
- NORTH AMERICA
No Comments