The Toys market size is anticipated to grow USD 230.64 billion by 2028 during the forecast period. Children’s growth and development are greatly aided by toys. Toys play a crucial role in brain development since they assist children develop their logical and reasoning skills as well as their spatial thinking. Children learn while playing with toys and board games, and they also develop their social and communication abilities. The market for toys is expanding due to children’s growing demand for educational and strategy-based toys. Thus, it is anticipated that there will be more children in the next few years, which would help the toy business flourish.
Children are more susceptible to the coronavirus than adults since they spend more time outdoors when physically shopping for these products than when they stay inside. Parents therefore use caution while making purchases from physical stores during the pandemic. The sales of products from physical retailers have been affected as a result. The pandemic’s general supply chain disruption is also going to make it difficult for businesses to replenish the newest products in their stores.
With the development of technology, consumer expenditure on video content, Virtual Reality (VR) accessories, and video game tournaments has substantially expanded. The market is expanding rapidly as a result of factors like the widespread use of mobile and online gaming and the switch from physical to digital software delivery. As a result of the shift from a more product-oriented model to a more service-oriented model that has transformed many industries, many toymakers invested heavily in content production centred around their flagship products, used the content as lead generators, and created interactive play experiences to add value to their physical products.
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In the upcoming years, it is anticipated that the outdoor and sports toys market would expand strongly and contribute to the expansion of the total market. The increase in demand for playground equipment, water/sand toys and accessories, skateboards/scooters, pools, and sports equipment and gaming accessories contributed to the segment’s expansion. The market toys is expanding as more people are becoming aware of how outdoor sports may help kids develop their motor and coordination skills.
Toys are items designed particularly for children to play with. Toys are typically manufactured out of wood, plastic, clay, or paper. However, electrical components are also present in contemporary toys. Children’s cognitive capacities are improved and their logical and spatial reasoning skills are developed through play with toys. In addition, board games and puzzles are believed to help kids develop their communication and social abilities.
The rising desire for interactive toys is driving the growth of the toy industry worldwide. It is anticipated that growing spending on educational toys and games, particularly in dual-income homes, will drive up demand for the good in emerging nations. It is also projected that growing consumer knowledge of toys’ beneficial effects on children’s overall development would support market expansion. In addition, the introduction of STEM-focused toys like Goldieblox, Roominate, and Yellow Scope is anticipated to support market expansion. Children’s STEM (science, technology, engineering, and maths) skill development is greatly aided by these toys.
The rising desire for interactive toys is driving the worldwide toy business. The market for the product is expected to increase in emerging economies due to growing spending on educational toys and games, particularly in dual-income homes. Growing public awareness of toys’ beneficial effects on kids’ overall development is another factor that is projected to support market expansion. Additionally, it is anticipated that the introduction of STEM-focused toys like Goldieblox, Roominate, and Yellow Scope would help the market expand. These playthings are crucial in helping kids learn STEM (science, technology, engineering, and maths) skills.
Furthermore, because these play kits give the youngsters a calming scent to smell, scented products have become more and more popular. The popularity of educational board games and brain training cubes among children is expected to drive industry expansion in the near future. The market for toys created responsibly is projected to decrease as gaming products made of eco-friendly materials like bamboo, clay, cork, and others become more common. To accommodate this demand, businesses are concentrating more and more on creating video games utilising recycled plastic, which will likely accelerate market expansion.
Regional Analysis:
- AMERICA (US, CANADA, MEXICO)
- EUROPE (UK, GERMANY, FRANCE, ITALY, SPAIN, RUSSIA, REST OF EUROPE)
- ASIA-PACIFIC (CHINA, INDIA, JAPAN, ASEAN, AUSTRALIA, REST OF ASIA-PACIFIC)
- LAMEA (BRAZIL, SAUDI ARABIA, SOUTH AFRICA, REST OF LAMEA)
Competitive Analysis:
The major competitors of the market are THE LEGO GROUP, ATLAS GAMES, CLEMENTONI, GOLIATH GAMES, HASBRO, MATTEL, RAVENSBURGER, TOMY, VTECH HOLDINGS, THAMES & KOSMOS.
Highlights of the Toys market report are:
– A comprehensive evaluation of all opportunities and risks in the market.
– Toys market current developments and significant occasions.
– A deep study of business techniques for the development of the market-driving players.
– Conclusive study about the improvement plot of the market for approaching years.
– Top to bottom approach of market-express drivers, targets, and major littler scale markets.
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Table of Contents:
1. Toys Market Overview
2. Impact on Toys Market Industry
3. Toys Market Competition
4. Toys Market Production, Revenue by Region
5. Toys Market Supply, Consumption, Export and Import by Region
6. Toys Market Production, Revenue, Price Trend by Type
7. Toys Market Analysis by Application
8. Toys Market Manufacturing Cost Analysis
9. Internal Chain, Sourcing Strategy and Downstream Buyers
10. Marketing Strategy Analysis, Distributors/Traders
11. Market Effect Factors Analysis
12. Toys Market Forecast (2022-2028)
13. Appendix
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