According to a new report published by Allied Market Research, titled, “China Playing Cards & Board Games Market by Product Type and Competition Type: Opportunity Analysis and Industry Forecast, 2018 – 2025,”The China playing cards & board games market size was valued at $583.8 million in 2018, and is projected to reach $1,675.4 million by 2025, registering a CAGR of 16.3% from 2018 to 2025. In 2017, the board games segment accounted for approximately two-thirds share in the China playing cards & board games market and is projected to grow at the highest CAGR of 19.2%.
Factors boost China playing cards & board games market growth ;-
Playing cards & board games are very popular and common products known by every age of person from child to adults. They are used by end users for leisure as well as for learning. However, playing cards have high demand in the gambling industry than household as these are mainly used for playing various games such as Rummy, Blackjack, Bridge, Roulette, and Sweeps in casinos, clubs & other places. On the other hand, board games are very popular among kids, millennials, and adults which is also an important factor affecting the China playing cards & board games market size. These games play a crucial role in the growth and development of the children. It helps to enhance the creativity and self-confidence. It also helps to improve problem solving, critical, and logical reasoning skills. It is proven fact that playing board games regularly will help to reduce the risk of mental diseases such as Dementia and Alzheimer’s to a great extent. Apart from this, playing cards & board games are effectively utilized by game bars & cafes to increase social interactions. All these factors boost China playing cards & board games market growth.
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However, Chinese board games such as Weiqi (Go), Xiangqi, Jungle, Chinese Checkers, Mahjong, Chinese Chess, and others have high demand from the U.S. and Europe, and thus experiencing positive growth during the forecast period. However, rise in related tariffs have encouraged the major importers to switch to other cost effective options such as India and Vietnam for production impacting the China playing cards & board games industry negatively.
Key offering of the Report:
Key driving factors: An in-depth study of the dynamic factors such as drivers, restraints, challenges, and opportunities
Current market trends & forecasts: A comprehensive study of the the China playing cards & board games market along with recent market trends and forecasts during the forecast period to help customers make an informed decision and formulate lucrative business strategies
Segmental Analysis: A study of each segment coupled with driving factors and growth rate analysis of every segment
Geographical analysis: An in-depth analysis of the market across several geographical regions that help market players to leverage fruitful market opportunities
Competitive landscape: A study of prime market players that are currently leading the China playing cards & board games market
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Prime Benefits:
The report includes Porter’s Five Forces analysis, SWOT analysis to understand the ability of buyers and suppliers, which enables business investors to devise sound, fruitful business decisions.
The study covers a detailed study of the latest market trends and market size coupled with a forecast of the China Playing Cards & Board Games market during the forecast period.
The report offers an analysis of the potential of the market across various geographical regions along with revenue contribution.
The study includes a detailed analysis of the key market players that are active in the market.
Key findings of the China Playing Cards & Board Games Market:
In 2017, board games segment dominated the China playing cards & board games market with 66% share in market
Playing cards segment occupied around 34% in the overall China playing cards & board games market share and is expected to grow at moderate CAGR of 7.3% through the forecast period.
By competition type, Tier 1 segment has occupied the largest share in the market and is estimated to grow at CAGR of 16.0%.
Tier 2 companies of the market are expected to grow at 17.3% CAGR during the forecast period.
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