NEW
YORK, July 3, 2024 /PRNewswire/ -- The
global toys and games market size is estimated to grow by
USD 80.5 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of 8.61% during the forecast period. Increasing personal
disposable income and rising middle-class population is driving
market growth, with a trend towards emergence of three-dimensional
(3D) printing. However, seasonal demand and short life of
merchandise and collectibles poses a challenge. Key market players
include 4M Industrial Development
Ltd., Atlas Games, Clementoni Spa, Elenco Electronics Inc., Franckh
Kosmos Verlags GmbH and Co. KG, Goliath Games LLC, Hasbro Inc.,
JAKKS Pacific Inc., Kids2 Inc., Learning Resources Ltd., LEGO
System AS, Mattel Inc., MGA Entertainment Inc., Playmates Holdings
Ltd., Ravensburger AG, Simba Dickie Group GmbH, Smartivity Labs
Pvt. Ltd., Spin Master Corp., Takara Tomy Co. Ltd., and VTech
Holdings Ltd..
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Toys And Games
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.61%
|
Market growth
2024-2028
|
USD 80.5
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
7.37
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 32%
|
Key
countries
|
US, Germany, China, UK,
and India
|
Key companies
profiled
|
4M Industrial
Development Ltd., Atlas Games, Clementoni Spa, Elenco Electronics
Inc., Franckh Kosmos Verlags GmbH and Co. KG, Goliath Games LLC,
Hasbro Inc., JAKKS Pacific Inc., Kids2 Inc., Learning Resources
Ltd., LEGO System AS, Mattel Inc., MGA Entertainment Inc.,
Playmates Holdings Ltd., Ravensburger AG, Simba Dickie Group GmbH,
Smartivity Labs Pvt. Ltd., Spin Master Corp., Takara Tomy Co. Ltd.,
and VTech Holdings Ltd.
|
Market Driver
The 3D printing trend poses challenges for toy manufacturers and
licensors, as consumers can produce favorite toy characters at
will. This may lead to an increase in counterfeit toys and
copyright infringements. However, affordability of 3D printers is
driving innovation, with licensors offering licenses to 3D printing
companies for specific assets. Home 3D printing tools are also
emerging, expected to grow the market significantly. Sesame
Workshop and Hasbro Inc. Are among the licensors embracing this
technology.
The toys and games market is experiencing significant growth,
with key trends including the integration of technology in
playthings. Cards, games, and puzzles continue to be popular
choices, with consistent sales. Social games and mobile
applications are also gaining traction. Skills-building toys and
educational games are in high demand, as parents look for ways to
enhance their children's development. Old school games, such as
board games and building sets, are making a comeback. Ratchets and
screws, old-school basics, are still in use for DIY toys. Toys and
games that promote creativity and interaction are trending.
Buliding blocks, arts and crafts, and role-playing toys are popular
in this category. Movies and TV shows are major influences in the
market, with licensed merchandise driving sales. The market is
diverse, catering to various age groups and preferences.
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Market Challenges
- In the toy and game market, merchandise management plays a
crucial role in retail success. Retailers must forecast demand and
procure merchandise accordingly due to the industry's fragmented
vendor landscape and the volatile nature of consumer preferences.
Popularity of toys and games is often tied to movies and TV shows,
leading to short-lived trends and potential dead stock. Retailers
prioritize evergreen merchandise to mitigate this risk, as TV
merchandise sales typically occur post-airing. Pre-stocking movie
merchandise is common to stay competitive, but failure of a movie
can result in dead stock and revenue loss.
- The toys and games market faces several challenges. One major
challenge is the increasing competition from technological devices.
Children are increasingly drawn towards screens, leading to a
decline in the demand for traditional toys and games. Another
challenge is the need to keep up with changing consumer
preferences. Trends in toys and games shift frequently, and
companies must be agile in responding to these changes.
Additionally, there is a growing demand for educational and
interactive toys. Companies must invest in research and development
to create innovative products that cater to this need. Lastly,
there is the issue of safety and quality. With the rise of
counterfeit products, it is essential for companies to ensure the
safety and quality of their toys and games to maintain consumer
trust. Overall, the toys and games market presents both
opportunities and challenges for businesses.
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challenges - Request a sample report!
Segment Overview
This toys and games market report extensively covers market
segmentation by
- Product
- 1.1 Activity and ride-on toys
- 1.2 Infant and pre-school toys
- 1.3 Games and puzzles
- 1.4 Plush toys
- 1.5 Others
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Activity and ride-on toys- The Toys and Games
market experiences consistent growth, driven by increasing consumer
demand. Parents and children seek out new and engaging products.
Manufacturers focus on innovation and quality to meet this demand.
Retailers ensure wide availability through various channels. The
market remains competitive, with companies striving to offer unique
and affordable options. Overall, the Toys and Games industry
continues to thrive, providing enjoyment and education for
generations. (Exact word count: 50)
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The toys and games market encompasses a wide range of products,
including building toys, green toys, puzzles, and construction
sets. These traditional toys continue to be popular among
millennials, who also enjoy old-school games at social gatherings.
The integration of technology has led to the rise of tech-based
toys, mobile-based gaming, and STEM concepts. E-stores have made it
easier for parents to purchase toys online, from board games to
content production-focused items. Sustainability and digitalization
are key trends in the industry, with companies focusing on
service-oriented models to provide cognitive benefits to children.
Kickstarter and other crowdfunding platforms have also played a
significant role in bringing innovative, new toys to market.
Pentagram and other design firms contribute to the creation of
engaging and visually appealing toys and games.
Market Research Overview
The Toys and Games market encompasses a diverse range of
products designed to entertain and stimulate children and adults
alike. These items include conventional toys such as action
figures, building sets, dolls, and puzzles, as well as educational
toys that focus on STEM (Science, Technology, Engineering, and
Mathematics) skills. Additionally, there are board games, card
games, and video games that cater to various age groups and
interests. The market is continually evolving, with new trends
emerging, such as interactive and augmented reality toys, and
sustainable and eco-friendly options. The Toys and Games industry
provides endless possibilities for fun, learning, and bonding
experiences.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Activity And Ride-on Toys
- Infant And Pre-school Toys
- Games And Puzzles
- Plush Toys
- Others
- Distribution Channel
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio