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Global Toys Market to Grow at a CAGR of 2.5% During 2022-2027, Aided by Growing Consumer Disposable Incomes

According to a new report by EMR titled, ‘Global Toys Market Report and Forecast 2022-2027’, the market attained a value of about USD 94.5 billion in 2020. The market is further expected to grow at a CAGR of 2.5% in the forecast period of 2022-2027.

The global toys industry is being driven by the heightened demand for toys and increasing expenditure on recreational and leisure activities. Outdoor toys and sports are witnessing an increased demand, fuelled by the growing focus of consumers on enhancing their child’s physical health and fitness. In addition, the demand for indoor games and puzzles is also surging, as they serve as a medium of entertainment while also mentally engaging children to enhance their concentration capacity. Furthermore, the growing availability of a range of action figures and dolls, based on characters from famous cartoons and movies, is expected to support the growth of the market in the forecast period. This can be attributed to the growing social media influence of children. Also, the growing interest of adults in various forms of toys is also expected to support the market growth in the coming years.

The growing investments by the leading market players to develop toys and games by utilising carbon neutral materials are expected to aid the market growth in the forecast years. For instance, in April 2022, Mattel, Inc. (NASDAQ: MAT) debuted its new sustainable products from its MEGA and Matchbox brands using the certified renewable polymers from SABIC’s TRUCIRCLE program. Meanwhile, in November 2021, Hasbro, Inc. (NASDAQ: HAS) announced the launch of its new line of NERF Minecraft blasters in partnership with Minecraft. These nerfs are inspired by Minecraft & Minecraft Dungeons, which allows the fans to take their in-game play to the real-world. This nerf line featuring the Minecraft Pillager’s Crossbow and the Minecraft Dungeons Stormlander will be available on the website of Walmart, Inc. (NYSE: WMT). Such developments are expected to positively impact the growth of the toys industry in the forecast period.

Market Breakup by Product Type, Age Group, Sales Channel, and Region:

  • The market is divided, based on product type, into action figures, building sets, dolls, games and puzzles, sports and outdoor toys, and plush, among others.
  • On the basis of age group, the market can be distributed into up to 5 years, between 5-10 years, and above 10 years, among others. 
  • Based on sales channel, the industry is segregated into hypermarkets/supermarkets, speciality stores, convenience stores, and online, among others. 
  • Region-wise, the global market for toys can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising population worldwide and the increasing consumer disposable incomes are bolstering the demand for a range of toys.
  • The growing focus of the parents on enhancing their child’s physical and mental health in an engaging way has significantly contributed to the market expansion, with the adoption of sports gears, board games, and puzzles.
  • The increased availability of various types of toys across online platforms is also aiding the industry growth. 
  • The growing innovations and the launches of new kinds of toys and games are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for toys for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the product types, age groups, sales channels, and regions of toys.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global toys market are Atlas Games, Clementoni S.p.A., Hasbro Inc, Lego System A/S, Mattel, Inc., Tomy Company, Ltd., and Thames & Kosmos, LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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