New York, US, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Educational Toys Market Overview
Market Research Future (MRFR) 's report highlights “Educational Toys Market Information By Type, Age Group, Distribution Channel, And Region - Forecast till 2032"; the market will achieve USD 160.4 Billion in 2032 at a 10.50% CAGR.
Market Synopsis
The term "educational toys" refers to playthings intended to encourage learning in kids. As teaching educational toys help children develop their logical and reasoning abilities and their capacity for spatial reasoning, they are essential for brain development. Children learn by using toys and board games to develop their social and communication abilities. For all manufacturers worldwide, reliability and safety are the top priorities. Given the current market for learning and educational toys, business owners must create goods that can survive misuse and abuse by kids who fall within the target market for the toys. Several laws and regulations govern the worldwide toy market. Government assistance in the toy industry will likely favor industry growth throughout the forecast timeframe. The global market, led by India, is anticipated to experience significant government backing from all nations due to the growing demand to enhance domestic toy production and usage.
Internet-connected, high-tech instructional toys are becoming increasingly well-liked among a market of increasingly tech-savvy consumers. Toys that promote learning and development are crucial for kids' growth and development. More games are being found in bars and cafes worldwide, which boosts the demand for toys and games and brings people into these businesses. These games are well-liked and have recently gained popularity in pubs and cafés worldwide. A smart toy can function because of its internal electronics and built-in sensors. Despite their high cost, smart toys are preferred above other educational toys because of their ease of use and tailored instructional approach. The market will rise due to Millennials' growing preference for traditional games at social events. The market will upsurge over the forecast period due to the rising admiration of retro games.
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Report Scope:
| Report Attribute | Details |
| 2032 Market Size | USD 160.4 Billion |
| CAGR | 10.50% (2023-2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Age Group, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing preference for environmental friendly educational toys |
Market Competitive Landscape:
- The Simba Dickie Group
- TOMY
- JAKKS Pacific, Inc.
- GoldLok Toys
- Mattel
- LEGO System A/S
- Melissa & Doug
- Ravensburger
- WowWee Group Limited
- CocoMoco Kids
- Among others.
Market U.S.P. Covered:
Market Drivers:
Over the forecast period, new players are anticipated to enter the market due to the increasing demand for sustainable learning and education toys. Over the projected period, there will probably be a solid appetite for Science, Technology, Engineering, and Math (STEM) toys due to the growing acceptance of these smart toys. Children's problem-solving abilities and creativity can be enhanced with the help of STEM toys in a fun and exciting way. As more parents emphasize equipping their kids with smart toys, the market for STEM toys is expected to grow strongly over the next years. Buyers are often not drawn to outdated and used toys, which has historically been a big challenge in the educational toy sector. This element has been boosting demand for green learning & education toys.
As a result, manufacturers of learning and educational toys should have a great opportunity to sell their current and novel learning and instructive toys through online platforms, which also helps increase consumer awareness of their products and make them more accessible to consumers. This is because the rise of the digital world and the percentage of the population predisposed toward online shopping is expected to increase across countries. Green materials, including bamboo, cardboard, and sugar cane, are being used to create many unique toys.
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COVID 19 Analysis
The impact of COVID-19 on the world has been unprecedented and astonishing, and the epidemic has benefited the demand for educational toys in every region. Although COVID-19 has affected the physical and online distribution of toys with educational value, product sales through the web channel have expanded significantly. But despite a continuous rise in demand, primarily from industrial sectors, the market for educational toys is quickly reverting to its normal stage. This element is related to the significant amount of money spent on cutting-edge educational materials by parents for their children during the temporary closure of schools. The COVID-19 pandemic has increased demand for educational toys because lockdown limitations have caused kids worldwide to spend more time at home. The demand in this market is the cause of the CAGR increase.
Market Segmentation
The market is divided into three age clusters: 4–8 years, 0–4 years, and above 8 years. The industry offers several categories of toys, such as STEM, arts & crafts, role play, games & puzzles, and musical and motor skills. The market is segmented into supermarkets, hypermarkets, specialized shops, and online sales.
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Regional Insights
The region with the chief market share is also anticipated to experience the quickest growth throughout the projection period. Due to the population growth in nations like China and India, the Asia-Pacific region has a monopoly on learning and educational toys. Manufacturers of educational toys are increasingly emphasizing the use of environmentally friendly materials and increasing their efforts in R&D, which are predicted to present opportunities for the Educational Toy Market.
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