PORTLAND, Ore., Nov. 23, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Learning and Educational Toys Market by Product Type (Building Sets, Games & Puzzles, Sports & Outdoor Toys, and Others), Age Group (5 years, 5 to 10 years, and above 10 years), and Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Departmental Stores, Online Channels, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global learning and educational toys industry generated $49.97 billion in 2020, and is estimated to reach $81.29 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
Major determinants of the market growth
Rise in demand from children and young population, reduction of carbon footprint and surge in environment-friendly initiatives, and advent of games in bars and cafes have boosted the growth of the global learning and educational toys market. However, tariff duties, growth in digitalization, and widespread penetration of smartphones hinder the market growth. On the contrary, untapped potential in developing markets and rapid growth of online retail platformsare expected to open new opportunities for the market players in the future.
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- The Covid-19 outbreak led to strict lockdown that forced manufacturers to cut down their production output and halttheir production facilities to curb the spread of the virus.
- However, the market is expected to return to its normal stage as several governments rolled out vaccination drives.
The sports and outdoor toys segment held the lion's share
By product type, the sports and outdoor toys segment dominated the market in 2020, accounting for nearly one-third of the global learning and educational toys market. In addition, the segment is estimated to register the highest CAGR of 4.9% during the forecast period, owing to growing popularity of the sport among children and adults. The report includes an analysis on the building sets, games & puzzles, and others.
The specialty store segment dominated the market
By distribution channel, the specialty store segment held the largest share in 2020, contributing to around one-third of the global learning and educational toys market, as they offer high-quality service and detailed product specification & expert guidance. However, the online channelssegment is expected to manifest the highest CAGR of 6.5% from 2021 to 2030, owing toease in access to product information and large consumer base.
Asia-Pacific, followed by North America, held the largest share
By region, the global learning and educational toys market across Asia-Pacific, followed by North America, held the largest share in 2020, accounting for more than one-third of the market. In addition, the region is projected to portray the highest CAGR of 7.1% during the forecast period, owing to large rural population, rise in urbanization, women participation in the workforce, and increase in disposable income.
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Major market players
- Atlas Games
- Goliath Games
- Clementoni S.p.A.
- The LEGO Group, Hasbro, Inc.
- Ravensburger AG
- ZEPHYR TOYMAKERS PVT. LTD.
- Vtech Holdings
- Tomy Company, Ltd.
- Thames & Kosmos
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