Dublin, Aug. 28, 2020 (GLOBE NEWSWIRE) -- The "Toys Market - Global Outlook & Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included
The study considers the present scenario of the toys market and its market dynamics for the period 2019-2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Key Questions Answered
1. What is the toys market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the toys market share?
3. What are the latest toy trends? Which segment is leading the Europe region shares?
4. Who are the leading vendors in toys market, and what are their market shares?
5. What is the impact of the COVID-19 pandemic on the toys market share?
The global toys market by revenue is expected to grow at a CAGR of over 4% during the period 2019-2025
The global toys market is expected to add over $30 billion during the forecast period. Like the board games market, the toys market has witnessed a significant growth in the last decade, which is highly driven by the increasing adoption in education, entertainment, interactivity, development and engagement sectors. Sustainability is an upcoming potential trendsetter in the toys industry. A range of environment-friendly products, including wooden baby toys, plastic free games for kids, recycled plastic bath games, and organic cotton stuffed animals, is increasing becoming popularly, thereby promoting sustainability.
The outbreak of COVID-19 in early 2020 has greatly affected the toys market. Despite the disruption of supply chain in most economies, lockdown and curfews have made families to spend more time than ever before. Q1 2020 witnessed unexpected growth in certain categories such as games and puzzles, board games, outdoor games, especially in matured markets of the US, Canada, Australia, the UK, and European countries. A majority of sales took place through online medium with considerable sales in restricted mass retailers and specialty stores with a high degree of regulations and limited workforce. The closure of major entertainment avenues and theme parks such as Walt Disney has enforced parents to shift from pricey entertainment facilities to affordable toys.
Toys Market Segmentation
The global toys market research report includes a detailed segmentation by age group, category, distribution, and geography. The 0-3 years segment is estimated to generate over $39 billion by 2025. The APAC region is expected to be the fastest growing region. China along with Malaysia, Thailand and Singapore are likely to lead the growth of the segment. The Middle East and Africa are likely to generate $1.15 billion by the end of 2025.
The 3-5 age segment caters to preschoolers and kindergartners owing to the diversity of games and toys available in the market. Being the early stage of education and mental health development, educational and numerical toys are major influencers in the age group. End-users in the segment have a longer attention span than toddlers and are more experimental in nature. While teamwork is a major attribute taught in their preschools, social gaming and coordination skills can be more prioritized by vendors to capitalize on opportunities. Transportation, construction sets, sand toys, climbers, wagons, hide and seek puzzles, and wheelbarrows are the most preferred games in the segment.
The outdoor and sports segment accounted for the largest revenue in 2019. The growth in RC controlled drones, vehicles, and toys is expected to drive the segment, especially among boys. Sand and water toys, bat and ball kits are some of the other preferred games in the outdoor segment. APAC is the fastest-growing region for the segment and is expected to grow at a CAGR of over 5%.
The advent of the online sales channel has made the toys market online far more easily available than in the past. Easy access to online platforms has resulted in the decline of store-based retailing. Also, with the help of internet retailing, the popularity of store-based retailing in the gaming industry has increased. Thus, to facilitate online sales, large retailers are investing in developing their own websites. Large retailers with a wide presence can build mobile applications, which will cater to the pool of consumers that have an active presence on mobile platforms, thereby increasing the sales. Game publishers are supporting retailers by giving them the right to sell online.
Segmentation by Age Group
- 0-3 years
- 3-5 years
- 5-12 years
- 12-18 years
- 18+ years
Segmentation by Category
- Infant and Preschool Toys
- Dolls
- Games and Puzzles
- Construction Toys
- Outdoor and Sports Toys
- Other Toys
Segmentation by Distribution
- Online
- Retail
- Supermarkets and Hypermarkets
- Departmental Stores
- Specialty Stores
- Others
Insights by Geography
The APAC toys market is expected to reach over $43 billion by 2025. China is responsible for 90% of imported dolls in India; the toys market in China was highly affected during the pandemic. Despite facing high demand during the Q1 of 2020 for board games, puzzles and outdoor toys, the later phase of Q3 in India is expected to decline owing to the supply chain disruption in the country with strict curfew guidelines.
However, the market conditions are expected to revive during the latter half of 2020 with the demand higher than normal estimation. In Japan, it is estimated that, the programing education market for children is expected to reach over $235 million by 2024. The scope of educational and scientific games is expected to surge, where computer-based subjects have become more significant for all classes. Similarly, TV animation is driving the market for licensed toys in South Korea. However, the fertility rate dropped to a record low of 0.97 in 2019, which is lower than the OCED average can be a major challenge for the market.
Segmentation by Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Russia
- Netherlands
- APAC
- China
- Japan
- South Korea
- Australia
- India
- Thailand
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
Insights by Vendors
The toys market trends is slowly shifting from being concentrated with LEGO, Hasbro and Mattel enjoying a larger chunk of the overall share to becoming a fragmented one with several independent vendors barging in. However, the market comprises of key vendors such as Ravensburger, Spin Master, MGA Entertainment, and Asmodee Group.
Tapping on the high opportunity lying in the sustainability factor can be a gamechanger in the toys industry trends in the coming years. It can act as a major source of differentiation in major regions of Europe, North America and developed economies in APAC regions. Millennial parents are the key target group for the segment, where they are willing to pay higher prices for environment-friendly dolls. Players such as LEGO, Hasbro, and Mattel are making vigorous efforts to achieve 100% sustainability by the end of the decade which reflects the level of commitment and responsibility towards the society.
Prominent Vendors
- LEGO
- Mattel
- Hasbro
- BANDAI NAMCO
- Spin Master
Other Prominent Vendors
- PLAYMOBIL
- Asmodee
- Ravensburger
- Funskool
- Top-Toy
- K'NEX
- Playmates
- Simba Toys
- CMON
- Disney
- Fremont Die
- Games Workshop
- Goliath
- Grey Fox Games
- IELLO
- Indie Boards and Cards
- INI
- International Playthings
- Learning Resources
- Looney Labs
- Ludo Fact
- Melissa & Doug
- Mindware
- Orchard Toys
- Panda GM Manufacturing
- Pegasus Spiele
- Piatnik
- Pressman Toys
- Roosterfin
- Reaper Miniatures
- Rio Grande Games
- Schmidt Spiele
- Surprised Stare
- SunsOut
- Talicor
- The Haywire
- The Regency Chess Company
- ThinkFun
- TREND Enterprises
- Ultra PRO International
- University Games
- The Op
- Winning Moves Games
- WizKids
- Zobmondo
- TOMY COMPANY
- Integrity Toys
- JAKKS Pacific
- Hunter Leisure
- Jazwares
- Vtech
- Funko
- NECA
- WowWee
- LeapFrog
- Konami
- MGA Entertainment
- Basic Fun
- Kenner Products
For more information about this report visit https://www.researchandmarkets.com/r/be4bgq
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