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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:
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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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