According to a new report by Expert Market Research titled, “Global Toys Market Share, Size, Report and Forecast 2024-2032″, the global toys market size is projected to grow at a CAGR of 4.1% between 2024 and 2032. Aided by the undying allure of toys amongst children and the innovative integration of technology in toy design, the market is expected to grow significantly by 2032.
Toys, the age-old instruments of joy, have played a pivotal role in children’s cognitive and emotional development. Not only are they instruments of amusement, but they are also essential tools that foster creativity, teamwork, and problem-solving skills. From traditional dolls and board games to technologically advanced drones and robots, the spectrum of toys has evolved dramatically, matching the zeitgeist of each generation.
The global surge in the toy market can be attributed to several factors. Foremost among them is the integration of digital technology with toys. The advent of augmented reality (AR), virtual reality (VR), and the internet of things (IoT) has redefined the playground, merging the virtual with the physical. As per the toys market analysis, smart toys, which can interact with kids through sensors, connectivity, and software, have garnered significant attention, enchanting the digital natives of this era.
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Furthermore, the increased spending capacity of parents, coupled with a deep understanding of the pivotal role toys play in a child’s overall development, has contributed to the toys market demand. Recognising the multifaceted benefits of play, parents are more inclined than ever to invest in high-quality, educational toys that offer both amusement and learning.
The toy industry, not one to lag, has also witnessed a surge in the popularity of eco-friendly toys. With the global focus on sustainability and environment-friendly products, manufacturers are increasingly turning to sustainable materials like bamboo, wood, and recycled plastics. This shift not only appeals to the environmentally conscious consumer but also ensures a safer play environment for children.
Licensing has also emerged as a predominant trend, propelling the toys market growth. Characters from movies, television shows, and popular culture have found their way into the toy market, creating a dual fanbase of both kids and adults. Franchises like Marvel, Star Wars, and Harry Potter have introduced a myriad of toys, from action figures to intricate playsets, that capitalise on their vast fandoms.
Educational toys or “edutainment” toys are another segment which accounts for a significant portion of the toys market share. These toys, designed with an emphasis on STEM (Science, Technology, Engineering, and Mathematics) learning, aim to make education more interactive and engaging. With the global emphasis on STEM fields, parents are keener to introduce their children to these subjects in a fun, relaxed environment, thus driving the demand for such toys.
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Market Segmentation
The market can be divided based on product, age group, distribution channel, and region.
Market Breakup by Product
• Action Figures
• Building Sets
• Dolls
• Games and Puzzles
• Sports and Outdoor Toys
• Plush
• Vehicle
• Others
Market Breakup by Age Group
• Up to 5 years
• Between 5-10 Years
• Above 10 Years
Market Breakup by Distribution Channel
• Hypermarkets and Supermarkets
• Toy Stores/Speciality Stores
• Online Channel
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global toys market. Some of the major players explored in the report by Expert Market Research are as follows:
• LEGO System A/S
• Bandai Namco Toys & Collectibles Incorporated
• Hasbro, Inc.
• Mattel, Inc.
• Funko, LLC
• JAKKS Pacific, Inc.
• Tomy Company Ltd.
• Simba Dickie Group
• Moose Toys Ltd
• Spin Master Corporation
• Others
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