The board games market is expected to grow at a CAGR of over 10% during the period 2018?2024
NEW YORK, Sept. 19, 2019 /PRNewswire/ --
The board games market is expected to grow at a CAGR of over 10% during the period 2018?2024.
Read the full report: https://www.reportlinker.com/p05482343/?utm_source=PRN
Board games are considered as one of the best ways to leave aside electronic gadgets and devices, which are otherwise keeping modern-day families busy, and get them together over an interesting game. Despite rapid technological advancements, several families consider connecting and bonding over a board game. Hence, more people prefer to shun digital activities and opt for a better and meaningful experience. Therefore, the need to engage with family and near and dear ones is expected to drive the demand for board games. The rising popularity of board game conventions is boosting the board games market. Board game conventions are the new area for vendors catering to the global board games market. There are several board game conventions organized across the world with a wide range of participation (from both active players and game publishers). Another factor driving the global board games market is the rise in the number of board game cafes across the world. With a rise in the board game café culture, people are witnessing many game shops and cafes offering snacks and drinks in various gaming events. With the advent of such cafes, people tend to find their board game solace quite comprehensively.
The following factors are likely to contribute to the growth of the global board games market during the forecast period:
• Capitalizing on Board Game Conventions
• Introduction of Strategic Products
• Crowdfunding Boosters paving Growth Paths
• Incorporation of the Learning Quotient
• Leveraging Global Retail Trends
This research report on the board games market covers sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The market study includes insights on segmentation product Type (puzzles, tabletop board games, card & dice games, collectible card games, miniature games, and RPG board games), theme type (strategy & war games, educational games, fantasy games, sports games, and other games), distribution Type (online and retail) and geography (North America, Europe, MEA, APAC, and Latin America).
The study considers the present scenario of the board games market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The report covers both the demand and supply aspect of the market. The study profiles and examines leading companies and other prominent companies operating in the market.
Board Games Market: Segmentation
The research report includes detailed market segmentation by product, theme, distribution, and geography. While puzzles dominate the board games market globally, collectible games are more prevalent in North America than Europe and APAC. Card and dice games are expected to increase their market share during the forecast period due to the growing shift of these games toward digital formats along with higher accessibility to playing video games in the same format across regions. The market has been witnessing a spurt in demand for several tabletop board games. While pre-schools kids are more interested in chance-based tabletop games, strategy-based tabletop games are seeing higher demand among grade-schoolers, teenagers, and adults. The need to increase problem-solving attitude and critical thinking ability among gamers is the major driver for the development of strategic tabletop board games. The collectible card games are growing at a steady rate in the market despite their decreasing popularity.
The educational board games segment is expected to witness an incremental growth of over $4 billion by 2024. Further, vendors are increasingly focusing on developing board games that have the learning quotient. The high popularity of strategy and war games is a major factor for the high share in the global market. The relevance of indulging is extremely high in strategy & war games, and in countries such as South Korea, Germany, Japan, and China, they are highly appreciated.
Board games are sold online as well as retail distribution channels such as specialty stores, supermarkets and hypermarkets, mass-market players. The availability of variety and instant price comparison is the major reason for the rapid spurt in online sales. The sale through retail stores has always remained high.
Market Segmentation by Product Type
• Puzzle
• Tabletop Board Games
• Card and Dice Games
• Collectible Card Games
• Miniature Games
• RPG Board Games
Market Segmentation by Theme Type
• Strategy and War Games
• Educational Games
• Fantasy Games
• Sports Games
• Other Games
Market Segmentation by Distribution Type
• Online
• Retail
Board Games Market: Geography
North America dominated the global board games market in 2018. The US leads the North America market as board games are witnessing high popularity, and vendors are introducing new variants frequently. APAC was the second-largest market in 2018. The demand for low-cost products characterizes the market in APAC. China and Japan are the largest markets in APAC. India is witnessing rapid adoption among end-users; however, the adoption rate is slow, and the per capita expenditure on board games remains low in the country. Board games are gaining popularity in several European countries, with Germany, the UK, and France leading the market growth in the region. The demand in Latin America is mainly from Brazil, where RPG board games are highly popular. Cultural and religious practices are prevalent in the Middle East market. The region is witnessing continuous growth in the gaming industry fueled by the rise in the board games industry.
Market Segmentation by Geography
• North America
o US
o Canada
• Europe
o Germany
o UK
o Italy
o Russia
o Spain
o France
• APAC
o China
o Japan
o India
o Australia
o South Korea
o Indonesia
• Europe
o UK
o France
o Germany
o Italy
o Spain
o Russia
• Latin America
o Mexico
o Brazil
o Argentina
• MEA
o South Africa
o Saudi Arabia
o UAE
Key Vendors Analysis
The board games market is slowly becoming a fragmented one, with Hasbro and Mattel enjoying a more substantial chunk of the overall share with several independent vendors barging in. The competition has intensified with several independent vendors emerging in recent years. North America, APAC, and Europe are the key markets for vendors. However, the markets in Latin America and MEA are expected to witness considerable growth in the coming years. Since the creation of board games does not require any molding or tooling, the overall production cost remains low, making the entry barrier low. Hence, the low-entry barrier is a key factor driving the rise of independent vendors, thereby affecting the market dynamics. Small vendors tend to offer board games at low prices, pushing established vendors to slash their retail prices.
Key Vendors
• Asmodée Éditions
• Hasbro
• Mattel
• Ravensburger
Other Prominent Vendors
• Asmadi Games
• Bezier Game
• BoardGameDesign.Com
• Buffalo Games
• Clementoni
• CMON
• Disney
• Fremont Die Consumer Products
• Funko
• Games Workshop
• Gibsons Games
• Goliath
• Grey Fox Games
• IELLO Games
• Indie Boards and Cards
• INI
• International Playthings
• Kamings Trade
• Learning Resources
• Legendary Games
• Loony Labs
• Ludo Fact
• Melissa & Doug
• Mindware.com
• North Star Games
• Orchard Toys
• Panda GM
• Pegasus Spiele
• Piatnik
• RoosterFin
• Reaper Miniatures
• Rio Grande Games
• Schmidt Spiele
• Spin Master
• Spontaneous Games
• Surprised Stare Games
• SunsOut
• Talicor
• The Regency Chess Company
• TREND Enterprises
• Ultra PRO International
• University Games
• USAopoly
• Winning Moves Games
• WizKids
• Zobmondo
Key Market Insights
The report provides the following insights into the board games market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the board games market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the board games market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the board games market.
Read the full report: https://www.reportlinker.com/p05482343/?utm_source=PRN
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