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The Sri Lanka toys market is estimated to grow in the forecast period of 2022-2027 at a CAGR of 19.50%.
The market for toys in Sri Lanka is being fuelled by the growing availability of safe and high-quality toys for childhood development and learning. Due to the rising awareness regarding the positive impact of toys in driving innovation and creativity while aiding the cognitive, emotional, physical, and social development of children and young adults, their demand is significantly surging. The increasing investments by the leading companies to develop localised, affordable, accessible, and quality toys are further propelling the market expansion.
As the manufacturing of toys involves stringent quality checks, they meet the international quality and safety regulations. This, in turn, is surging the demand for toys like dolls and puzzles, among others, in international markets, hence driving the growth of the market. With the wide availability of raw materials like textile, metals, and recycled paper, among others, the manufacturing of toys in the country is significantly growing. Various leading manufacturers are also utilising sustainable materials, such as cotton, bamboo, and wool, among others, to develop ethically-sourced toys, hence increasing its appeal among environmentally-conscious consumers, particularly in Europe and North America markets.
Toys are objects such as puzzles, games, dolls, and action figures, among others, that are typically used by infants, children, and young adults as playthings. They are usually available in bright and distinctive colours, textures, and sounds and are used to promote the cognitive, emotional, and physical development of infants and children. Moreover, toys are utilised for educational purposes while facilitating communication and language skills.
The major types of toys are:
The market can be broadly categorised on the basis of its age groups into:
Based on distribution channel, the market is divided into:
With the growing popularity of various online retail channels, the accessibility to innovative toys in the country is increasing, hence propelling the market growth. The increasing proliferation of business to consumer (B2C) platforms for hassle-free and rapid delivery of authentic and high-quality toys is also augmenting the growth of the market. In addition, the growing disposable incomes are resulting in a shift from low and middle-end toys to smart and electronic toys. Such toys are enhancing the engagement and interactivity of children and young adults while promoting creative thinking, which is anticipated to provide lucrative growth opportunities for the market expansion in the forecast period.
The rising demand for toys based on cultural elements owing to the growing popularity of animation works and films among children in the country are surging the sales of action figures and dolls, among others. Capitalising on the surged demand for nostalgic products in the wake of the COVID-19 pandemic, various leading companies are launching classic toys to cater to multiple generations. Although the market may witness some turbulence due to the growing exposure of children to digital devices, the increasing focus on science, technology, engineering, and math (STEM) toys is positively impacting the growth of the market.
The report presents a detailed analysis of the following key players in the Sri Lanka toys market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
*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.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Sri Lanka
7 Industry Opportunities and Challenges
8 Sri Lanka Toys Market Analysis
8.1 Key Industry Highlight
8.2 Sri Lanka Toys Historical Market (2017-2021)
8.3 Sri Lanka Toys Market Forecast (2022-2027)
8.4 Sri Lanka Toys Market by Toy Type
8.4.1 Action Figures
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.4.2 Building Sets
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.4.4 Games and Puzzles
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.4.5 Sports and Outdoor Games
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.5 Sri Lanka Toys Market by Age group
8.5.1 Up to 5 Years
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.5.2 5 to 10 Years
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.5.3 Above 10 Years
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.6 Sri Lanka Toys Market by Distribution Channels
8.6.1 Hypermarkets and Supermarkets
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
8.6.2 Convenience Stores
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
8.6.3 Speciality Stores
184.108.40.206 Market Share
220.127.116.11 Historical Trend (2017-2021)
18.104.22.168 Forecast Trend (2022-2027)
22.214.171.124 Market Share
126.96.36.199 Historical Trend (2017-2021)
188.8.131.52 Forecast Trend (2022-2027)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indication for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 DSL Lanka (PVT) Ltd.
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.2 Sri Toys Educational International (Pvt) Ltd
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.3 The Green Rubber Toy Company Pvt Ltd
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.4 Tikiri Toys Sri Lanka
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.5 Mona Plastics (Pvt) Ltd.
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.6 Paradise Toys Pvt Ltd
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
11 Industry Events and Developments
List of Figures and Tables
1. Sri Lanka Toys Market: Key Industry Highlights, 2017 and 2027
2. Sri Lanka Toys Historical Market: Breakup by Toy Type (USD Million), 2017-2021
3. Sri Lanka Toys Market Forecast: Breakup by Toy Type (USD Million), 2022-2027
4. Sri Lanka Toys Historical Market: Breakup by Age Group (USD Million), 2017-2021
5. Sri Lanka Toys Market Forecast: Breakup by Age Group (USD Million), 2022-2027
6. Sri Lanka Toys Historical Market: Breakup by Distribution Channels (USD Million), 2017-2021
7. Sri Lanka Toys Market Forecast: Breakup by Distribution Channels (USD Million), 2022-2027
8. Sri Lanka Toys Market Structure
The Sri Lanka toys market is estimated to grow at a CAGR of 19.50% between 2022 and 2027.
The market is being driven by the growing availability of safe and high-quality toys, the increasing investments for the development of localised and affordable toys, and the rising international demand for toys.
The market is expected to be bolstered by the growing popularity of e-commerce platforms, the increasing demand for smart and electronic toys, and the surging launches of classic toys.
The major types of toys in the market are action figures, building sets, dolls, games and puzzles, sports and outdoor games, and plush, among others.
The various age groups of toys are up to 5 years, 5 to 10 years, and above 10 years.
The significant distribution channels in the market are hypermarkets and supermarkets, convenience stores, speciality stores, and online, among others.
The major players in the market are DSL Lanka (PVT) Ltd., Sri Toys Educational International (Pvt) Ltd, The Green Rubber Toy Company Pvt Ltd, Tikiri Toys Sri Lanka, Mona Plastics (Pvt) Ltd., and Paradise Toys Pvt Ltd, among others.
The Sri Lanka toys market has been driven by the growing availability of safe and high-quality toys in the historical period of 2017-2021. Aided by the increasing demand for smart and electronic toys, the market is estimated to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 19.50%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the toys market in Sri Lanka can be segmented into action figures, building sets, dolls, games and puzzles, sports and outdoor games, and plush, among others. By age group, the market is segmented into up to 5 years, 5 to 10 years, and above 10 years. On the basis of distribution channels, the market is divided into hypermarkets and supermarkets, convenience stores, speciality stores, and online, among others. The key players in the above market include DSL Lanka (PVT) Ltd., Sri Toys Educational International (Pvt) Ltd, The Green Rubber Toy Company Pvt Ltd, Tikiri Toys Sri Lanka, Mona Plastics (Pvt) Ltd., and Paradise Toys Pvt Ltd, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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