Toys Market Research Report: Information by Type (Preschool Toys, Soft Toys and Dolls, Action Toys, Arts and Crafts Toys, Construction Toys, Vehicles and others), Distribution Channel (Store-Based [Supermarkets and Hypermarkets, Specialty Stores and others] and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast 2027
|ID: VPR/CO/1061||Publishing Year: January 2022||Pages: 92||Format:|
Toys Market Overview:
The Global Toys Market is projected to grow from USD 93.2 Billion in 2020 to reach USD 104.8 Billion by 2027; it is expected to grow at a CAGR of 1.69% from 2020 to 2027.
Two of the primary drivers driving the global market's growth are the increasing number of dual-income households and rising purchasing sentiments. Economic development in regions such as APAC, Latin America, the Middle East, and Africa will provide attractive prospects for industry leaders.
Growing demand for instrument replicas such as a piano, guitar, and drums, as well as art and craft toys and cuddly toys, is driving the Worldwide Toys Market. Increased social media penetration, a greater audience, and increased user engagement are all contributing to the global market's growth. The market research report examines the Worldwide Toys Market in detail, including segmentation by category, age group, distribution channel, and geography.
The report looks at the current state of the Global Toys Industry as well as its market trends from 2018 to 2023. It goes over the key market growth facilitators, restraints, and trends in detail. The research looks at both the supply and demand sides of the market. It also covers and analyses the leading firms in the worldwide toys market, as well as a number of other notable companies.
Some of the Key Players profiled in the Toys Market analysis includes Atlas Games, ClementoniS.p.A., Goliath Games, Hasbro, Inc., The LEGO Group, Mattel, Inc., Ravensburger AG, Tomy Company, Ltd, Vtech Holdings, and Thames &Kosmos.
Toys have an important role in children's growth and development. Toys Play an important role in brain development because they assist children acquire logical and reasoning skills, as well as spatial and logical thinking. Playing with toys and board games helps youngsters learn while also helping them develop social and communication skills. The expansion of the toys industry is fueled by an increase in demand for strategy-based and educational-based toys among children. In addition, to address the burden of an ageing population, the Chinese government this year loosened its decades-old one-child policy, allowing all couples to have two children. As a result, the number of children is likely to rise in the next years, favourably boosting the Growth of the Toys Market.
The market is segmented by category, age group, distribution channels, and geography in this market research analysis. In 2017, the games and puzzles segment held 1/6th of the total market share, rising at a CAGR of roughly 10% over the projection period. The widespread use of board games and jigsaw puzzles to teach communication skills and language arts to both children and adults is propelling this segment's global expansion.
In 2017, the 5-12 years segment accounted for over a quarter of the market share, and it is expected to increase at a CAGR of roughly 6% over the projected period.
Games and puzzles, construction toys or building blocks, various outdoor and sports toys, and other toys are among the toys meant for children aged 5 to 12. The expanding popularity of licenced toy assets, remote-control toys, such as vehicles and musical toys, is moving this section of the Worldwide Market Forward.
APAC, Europe, North America, Latin America, and the Middle East and Africa make up the Worldwide Toy Market. APAC accounted for more than a third of the total market share in 2017, and is expected to increase at a CAGR of around 6% over the forecast period. The APAC region's rise in the global market is being fueled by increasing urbanisation and an increase in spending capacity. The unparalleled popularity of branded and private label toys is propelling the Latin American region's market growth. People's per capita disposable income will continue to rise, boosting revenue in the region and the Worldwide Toy Market.
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