New York, US, Dec. 07, 2022 (GLOBE NEWSWIRE) -- Baby Toys Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), "Baby Toys Market Information by Product Type, End User, Distribution Channel, and Region - Forecast till 2028", the market will reach USD 17,194.1 Million by 2028, at 3.97% CAGR.
Market Synopsis
As part of their general development, babies benefit from the stimulation provided by baby toys in the senses of shape, taste, color, texture, and sound. They significantly contribute to children's mental development by enhancing their capacity for thought and decision-making. They are divided into many categories: collectibles, promotional goods, physical exercise, and cognitive training. The main way linked businesses market various playthings to children is during festivals. The makers are releasing various doll types that fit children's festivals, which increases their overall sales. Language, fine motor, social-emotional, gross motor, and intellectual abilities are all aspects of child development. Based on the experience’s toys offer to the babies that further aid their growth, guardians select toy materials and arrange learning activities for babies. Construction toys and building blocks are also necessary for babies since they aid in developing their motor skills and hand-eye coordination.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2028 | USD 17,194.1 Million |
| CAGR | 3.97% |
| Base Year | 2020 |
| Forecast Period | 2021-2028 |
| Historical Data | 2019 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | by product Type, End User, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing Per Capita Disposable Income |
| Rising Demand for Skill Developmental Baby Toys |
Market Competitive Landscape:
The important contenders in the baby toys market are:
- LEGO System A/S(Denmark)
- Mattel, Inc.(US)
- Nintendo Co., Ltd.(Japan)
- Brandstätter Group(Germany)
- Hasbro, Inc.(US)
- Bandai Namco Holdings Inc.(Japan)
- Spin Master (Canada)
- Kids II, Inc. (US)
- Tomy Company, Ltd(Japan)
- Basic Fun! (US)
Market U.S.P. Covered:
Market Drivers:
Consumer buying habits have changed due to rising per capita disposable income. The personal income households have available for investment and saving after income taxes is referred to as disposable income. The baby toy market is expanding due to increased per capita disposable income, particularly in emerging economies. Additionally, the rise in dual-income homes and the proportion of working women contribute to increased per capita disposable income. As a result, spending on infant toys has increased due to changing lifestyles and rising per capita disposable income.
Businesses emphasize offering a variety of gaming accessories so that youngsters will be surprised when they open the boxed goods. Kids may become interested in playing with these goods, which will boost the expansion of the toy sector. The market for dolls 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 utilizing recycled plastic, which will likely accelerate market expansion.
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Market Restraints:
Kids love playing online games since they don't require a separate play set and can be enjoyed on smartphones and tablets. The expansion of the video console kit maker's enterprises will probably be hampered as a result, which will slow the growth of the sector. Consumer preferences are also being hampered by cases of skin rashes linked to prolonged use of dolls and building play sets. In addition, factors like increased product development, advertising costs, and industry competition make it difficult for important companies to expand their businesses. Due to their widespread availability, reduced prices, and simplicity of customization, local sellers have been found to hinder the key players' sales significantly. Because a sizable portion of the population is price-conscious, organized businesses find establishing their influence over the unorganized market challenging.
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COVID 19 Analysis
Since schools are closed, children spend most of their time at home during the COVID-19 pandemic. This will increase the market for larger playing figurines that keep kids entertained for longer. Kids will also become more interested in educational and construction-themed games throughout the epidemic. Nowadays, people are compelled to think more about their health and well-being to combat the coronavirus and preserve immunity. Demand from consumers for miniatures relating to exercise and the outdoors has increased. The COVID-19 epidemic has caused border restrictions, transit network breakdowns, and widespread lockdowns.
Due to the growing number of infected individuals and the uncertainty surrounding the end of the COVID-19 outbreak, the economic uncertainty is substantially larger. Since baby toys are non-essential items, their demand was significantly impacted in the beginning. Border restrictions and government-issued lockdown orders caused by the COVID-19 epidemic have significantly impacted the tourism business and forced many people to stay at home. Schools, colleges, and other educational institutions were closed, and businesses worldwide conducted work-from-home days. The COVID-19 outbreak has also reduced consumer purchasing power and caused a shift in consumer spending from wants to need.
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Market Segmentation
By end user, the market includes infants and toddlers. By distribution channel, the market includes store-based and non-store-based. By product type, the market includes board games, soft toys & dolls, arts & crafts toys, construction toys, vehicles, musical toys & rattles, and action toys.
Regional Insights
Due to its outstanding growth potential for the sales of infant toys, Asia-Pacific is regarded as the world's most important market. An influx of foreign retailers has been seen in Asia-Pacific due to the region's rapid economic expansion, expanding middle-class population, and high rates of rural-to-urban migration. This has fueled the growth of the regional infant toys industry by encouraging the expansion of already-existing retail locations in nations like China and India. In the region, online shopping is also popular. Customers' ability to quickly access price lists and catalogs gives them a clear understanding of the products offered, making purchases easier. Due to consumers' growing propensity for online shopping, online retailers are displacing brick-and-mortar retailers from a significant portion of the market. North American consumers are spending more money on toys, activities, and playground equipment, which accounts for most of the North American region's revenue. The European market is largely driven by the availability of suitable import facilities for sporting goods in nations like the United Kingdom and Germany.
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