Toys Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product, Age Group, Distribution Channel, and Region

Toys Market Definition:

Toys aid in the development of children's minds by enhancing their ability to think and make decisions. Brain training, physical activity, promotional products, and collectibles are among the several categories. Festivals are the most common way for affiliated businesses to market various types of play things to children.

 

Further, the Toys market is segmented by Product, Age Group, Distribution Channel, and geography. On the basis of Product, the Toys market is segmented under Dolls, Outdoor and Sports Toy, Building and Construction Set, Infant and Preschool Toy, Games and Puzzles, and Others. Based on the Age Group, the market is segmented under the channels of 0-3 Years, 3-5 Years, 5-12 Years, 12-18 Years, and 18+ Years. Based on the Distribution Channel, the market is segmented under the channels of Online and Offline. By geography, the market covers the following Regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

To get more Insights: Request Free Sample Report

 

Toys Market Dynamics:

Companies concentrate on delivering a variety of gaming goods to surprise children as they unpack the boxed items. This is anticipated to pique children's enthusiasm in playing with such products, boosting the toy market's growth. For example, Lego System A/S presented a sailing adventure set as a presenting item for its LEGO VIP members in August 2021. Also, recent gift-giving tendencies across the global population would boost product demand in toys market.

 

Moreover, scented items have become increasingly popular, as these play kits provide a soothing perfumed scent to the children. The growing popularity of brain training cubes and educational board games among children is expected to boost the toys market overall growth in the near future.

 

Producers are developing various sorts of dolls that are appropriate for children's festivals, thereby increasing their overall revenue. For example, during the autumn season in the United States in July 2020, MGA Entertainment Inc., a children's entertainment company, debuted new Rainbow High Fashion Dolls, a doll brand. These factors are driving the growth of the toys market throughout the globe.

 

The introduction of gaming goods made of environmentally friendly materials like bamboo, clay, cork, and others is likely to reduce demand for sustainably created dolls. Moreover, in order to address this demand, companies are increasingly focusing on developing games made from recycled plastic components, which will tend to boost toys market growth. Mattel Inc. presented 'Barbie Loves the Ocean,' a series of recycled plastic Barbie dolls in June 2021.

 

The evolving consumers’ choices towards playing console & joystick games will offer newer market growth opportunities. Moreover, increasing indoor leisure trends among the global population is likely to add impetus to the video gaming items demand among gamers.

 

To construct a strong brand image, companies are focusing on forming collaborations with various marketing agencies and renowned social media influencers to develop kids-related content. This assists them in generating cash from gaming stuff. In September 2020, Zuru, a Chinese game developer, teamed with Fanbyted, a digital marketing agency located in the United Kingdom, to strengthen its brand image among British consumers.

 

Moreover, the growing popularity of multi-coloured toys among pre-school children is expected to drive toys market growth. Nowadays, parents use a variety of methods to augment their children's education outside of the classroom, including allowing them to play educational games. Consumer demand for advanced educational base products such as cubetto and dash robots, remote-controlled automobiles, computing kits, and others will increase as a result of this.

 

Toys Market Segment Analysis:

By Product, Dolls segment dominated the market with 30% share in 2023. Companies are releasing dolls of various characters that correspond to the plots of recently released blockbuster animated films. This is likely to boost such a segment's revenues. In the United States, for example, The Walt Disney Company released 'Triple Force Friday,' a collection of dolls inspired by the Star Wars film, in October 2020. Also, they are available in a variety of shapes and categories, including vintage, modern, and antique dolls, resulting in significant revenue from this area. These developments are also driving the demand of the segment.

 

Because parents are worried about their children's health and fitness, the outdoor and sports category is expected to grow at a CAGR of 8.97% through the forecast period. This element increases demand for outdoor base products like as play tents, pools, aeroplanes, and other similar items to assist their children in participating in various outside activities such as hiking, touring, camping, and other similar activities. Moreover, the increasing rate of consumer participation in sports is expected to drive segmental growth.

 

 

By Distribution Channel, Offline segment dominated the market with 54 % share in 2023. Offline segment, such as specialised retailers, brand stores, and hypermarkets, have a variety of soft, appealing merchandise at their outlet stores. This is likely to entice customers to buy products from such establishments, resulting in increased segmental revenues. Also, the rising infrastructure facilities associated with speciality toy stores and brand stores are expected to enhance offline segmental revenues.

 

The fastest development of an online segment can be ascribed to the growing popularity of online shopping among the global population, which is expected to fuel segmental growth. Also, popular online shops such as toycart.com, amazon.com, and others may offer discounts and coupons on particular product purchases, which is likely to increase consumer interest in purchasing such products. This aids in the growth of segmental revenues.

 

Toys Market Regional Insights:

The North American market dominated the market with 37 % share in 2023. North America's increased spending on entertainment-related equipment such as toys, hobbies, and playground equipment accounts for the highest share of sales in the region. Average spending on entertainment-related gadgets in the United States hit USD 3.05 million in 2019. Also, expanding gift-giving market trends among the people are propelling the region's industry expansion.

 

The Asia Pacific region's fastest growth can be ascribed to recent government measures aimed at advancing the industry in nations like India, China, and Japan. For example, the Indian government created the Production Linked Incentive (PLI) scheme in April 2020 to encourage local manufacturing. As a result, the government is able to meet local demand for such products, promoting toys market growth in these region. Also, the increased popularity of art and craft-based products among Chinese children is fueling market growth in the country.

 

Toys Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in  North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Toys market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Toys market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Toys Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Toys market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Toys market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Toys market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Global Toys market. The report also analyses if the Global Toys market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Toys market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Toys market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Toys market is aided by legal factors.

 

Toys Market Scope:

Toys Market
Market Size in 2023	USD 254.49 Bn.
Market Size in 2030	USD 1006.28 Bn.
CAGR (2024-2030)	21.7%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Product Dolls Outdoor and Sports Toy Building and Construction Set Infant and Preschool Toy Games and Puzzles Others
	by Age Group 0-3 Years 3-5 Years 5-12 Years 12-18 Years 18+ Years
	by Distribution Channel Offline Online
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

TOYS MARKET KEY PLAYERS: 

• Lego System A/S (Denmark)
• Hasbro Inc. (U.S.)
• Mattel Inc. (U.S.)
• Ravensburger Holding GmbH & Co. KG(Germany)
• Spin Master(Canada)
• MGA Entertainment Inc. (U.S.)
• PAI Partners(France)
• Nintendo Co. Ltd. (Japan)
• Radio Flyer (U.S.)
• A.L. Lindsay & Company(Australia)
• Artsana Group (Italy)
• K’Nex Industries Inc. (U.S.)