Licensing, New Generation of Video Game Consoles to Stoke Gains in Toys & Games Market
Expanding population of young people, rising incomes to boost sales through 2023
CLEVELAND, March 11, 2020 /PRNewswire/ -- US demand for toys and games is forecast to advance 3.4% annually in nominal terms through 2023, according to Toys & Games: United States, a report recently released by Freedonia Focus Reports. Expansion in the number of births and the population of young people will boost sales. Increasing disposable personal income levels will further stimulate spending. New product introductions will continue to support demand, especially for video game consoles. A strong lineup of big-budget movies in coming years, such as new Star Wars (Disney) movies, are expected to boost demand for licensed products. However, the wide range of entertainment options that compete with toys and games will continue to prevent faster gains.
Trends supporting more traditional, classic toys, as well as ongoing parental concern about excessive screen exposure for kids, will support demand in the dominant toys and dolls segment. Rising disposable income levels are expected to support demand for higher-priced toys such as kitchen sets and other toy furniture. Lego and K'Nex will continue to benefit from the popularity of building sets. Sales of art, craft, and science kits will be supported by the desire of parents to provide their children with toys that promote learning and interest in science, technology, engineering, arts, and math. Faster growth will be limited by market maturity and the popularity of digital games and other types of online entertainment for kids.
These and other key insights are featured in Toys & Games: United States. This report forecasts to 2023 US toys and games demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by type in terms of:
- toys and dolls
- video game consoles
- board games
- baby carriages and strollers
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2008 to 2018.
Excluded from the scope of this report are video game software; game machines (e.g., pinball machines, arcade games); card games; and athletic equipment, bicycles, billiard tables, and bowling equipment. Re-exports of toys and games are excluded from demand and trade figures.
More information about the report is available at:
https://www.freedoniafocusreports.com/Toys-Games-United-States-FF90021/?progid=91541
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
Press Contact:
Corinne Gangloff
+1 440.684.9600
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SOURCE The Freedonia Group
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