LONDON, Oct. 11, 2018 /PRNewswire/ --
The global toys market is projected to reach revenues of more than $120 billion by 2023, growing at a CAGR of around 4% during 2017-2023.
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The growing dual-income households and improving the purchasing sentiments are two of the major factors propelling the growth of the global market. The development of economics in regions such as APAC, Latin America, and the Middle East and the African continent will create lucrative opportunities for leading players operating in the market. The global toys market is driven by growing demand for a replica of instruments such as a keyboard, guitar, and drums, art and craft toys, and stuffed toys. The increasing social media penetration, growing audience, and rising user engagement are major factors attributing to the growth of the global market. The market research report provides in-depth market analysis and segmental analysis of the global toys market by category, age group, distribution channel, and geography.
The report considers the present scenario of the global toys market and its market dynamics for the period 2018?2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the global toys market.
Toys Market – Dynamics
The recent trend of parents to purchase and invest in educational toys for cognitive development in children is fueling the growth of the global toys market. Millennial parents listen to child psychologists and their popularizers in magazines who provide us with lists of time-tested products that aid in skill development of children. The increasing number of movies and television shows based on fictional characters will create a cult following among consumers and propel the demand for the products in the global market. For instance, Hasbro becomes a major player through the Transformers movie franchise, and Lego had two movie launches in 2017 including the Lego Batman and Lego Ninjago. The introduction of the box subscription services in this industry will revolutionize the global toys market over the next few years. The toy box subscription works by curating to the needs of the children and contain toys which are selected for the user. The proliferation of these business models will propel the development of the global toys market during the forecast period.
Toys Market – Segmentation
This market research report includes a detailed segmentation of the market by category, age group, distribution channels, and geography. Games and puzzle segment dominated 1/6th of total market share in 2017, growing at a CAGR of around 9% during the forecast period. The extensive use of this board games and jigsaw puzzles to teach communication skills and language arts to kids as well as adults is fueling the growth of this segment in the global market.
5-12 years segment occupied around 1/4th of the market share in 2017, growing at a CAGR of around 5% during the forecast period. The toys designed for 5-12 years age group comprises of games and puzzles, construction toys or building blocks, some outdoor and sports toys, and other toys. The growing popularity of licensed toy properties, remote controlled toys including cars and musical toys is propelling the growth of this segment in the global market. Retail channels dominated more than half of the total market share in 2017, growing at a CAGR of more than 2% during the forecast period. The different playthings through department stores, small chain stores, free-standing toys stores, catalog stores, and other non-tracked retail outlets are driving the growth of this segment in the global market.
Market Segmentation by Category
• Infant and Preschool
• Games & Puzzles
• Outdoor & Sports
Market Segmentation by Age Group
• 0-3 Years
• 3-5 Years
• 5-12 Years
• 12-18 Years
Market Segmentation by Distribution Channels
o Specialty Stores
o Mass Market Players
o Other Stores
Toys Market – Geography
The global toy market by geography is divided into APAC, Europe, North America, Latin America, and MEA. APAC occupied more than 1/3rd of the total market share in 2017, growing at a CAGR of around 5% during the forecast period. The rapid urbanization and increase in spending capacity are major factors propelling the growth of the APAC region in the global market. The unprecedented popularity of branded, as well as private label toys, is fueling the growth of the Latin American region in the market. The steady increase in the per capita disposable income of people will contribute to the revenues in the region and the global toy market.
Market Segmentation by Geography
• North America
o The Netherlands
o South Korea
• Latin America
o South Africa
Key Vendor Analysis
The global toys market is highly concentrated, and the top 3 players control the level of the competition. The leading manufacturers are leveraging advanced technologies to refine their unique value proposition and gain a larger global market share. Various international brands are partnering with local, regional players to expand their businesses in emerging nations across the world market. The leading companies are utilizing factors such as smartphone proliferation, nuclear households, and humongous amount of targeted media content to advertise their products and reach a wider consumer audience in the global market. Moreover, the inclusion of technological developments such as immersive experiences of virtual and augmented reality will have a positive impact on the global toys market.
The major vendors in the global toys market are:
• Lego Group
• Bandai Namco
Other prominent vendors in the global toys market are Asmodee, Ravensburger, Funskool, Top Toy, K'NEX, Playmates Toys, Simba Toys, Spin Master, CMON, Disney, Fremont Die Consumer Products, Games Workshop, Goliath, Grey Fox, IELLO, Indie Boards and Cards, INI, International Playthings, Learning Resources, Loony Labs, Ludo Fact, Melissa & Doug, Orchard Toys, Panda GM, Paul Lamond Games, Pegasus Spiele, Piatnik, Pressman Toy, Roosterfin, Reaper Miniatures, Rio Grande Games, Schmidt Spiele, Surprised Stare, SunOut, Talicor, The Haywire, The Regency Chess Company, ThinkFun, TREND Enterprises, Ultra PRO International, University Games, USAopoly, Winning Moves Games, WizKids, and Zobmondo.
Key market insights include
1. The analysis of the global toys market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global toys market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global toys market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.
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