Stuffed Animal and Plush Toys Market Size, Share, Growth, and Industry Analysis, By Type (Cartoon Toys, Traditional Stuffed Animals, Dolls & Playsets, Customizable Stuffed Animals, Action Figures & Model Play, Special Feature Plush and Puppets), By Application (Hyper/Super Market, E-Commerce, Toy Stores, Hobby and Craft Stores, Other Sales), and Regional Forecast To 2031

Updated On: 22 April 2024

Stuffed Animal and Plush Toys Market Report Overview

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The global stuffed animal and plush toys market size was 8735.6 million in 2020. As per our research, the market is expected to reach USD 17822.16 million by 2031, exhibiting a CAGR of 6.7% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, with stuffed animal and plush toys experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Stuffed animal and plush toys refer to a toy doll that has been stuffed with a flexible substance and covered in a textile-like outer cloth is known as a stuffed toy. They go by many names, including stuffier, plush toys, plushies, and stuffed animals. In Australia and Britain, they may also be referred to as soft toys or snuggly toys.

Global target population expansion is anticipated to fuel market expansion. The popularity of numerous animated series and action films also significantly contributes to the increase in demand for stuffed animals and plush toys. Additionally, a growing market for personalized plush toys globally compels manufacturers to concentrate more on product innovation. So, it is anticipated that further product advancements, such as products with cutting-edge technologies including GPS trackers and detectors, would help to drive up product demand.

COVID-19 Impact: Supply and Isolation Limitations to Deplete Market Advancement

Increased customer demand has forced some industries to deal with the generally advantageous challenge of maintaining their supply. However, the market was drastically affected by the impact of the COVID-19 pandemic due to supply chain barriers and reduced demand have experienced abrupt declines in sales and noticeably less foot traffic at retail establishments. Due in large part to COVID-19, the transition to a world that is primarily online has been expedited. Businesses had to adopt digital-first strategies and become more adaptable with their product offerings. Companies that never imagined going online have the opportunity to do so. While some stores were ready to face this fresh set of circumstances head-on since they had a strong online presence, others have failed. Due to advancements in the consumer good the market will uplift in the coming years.

LATEST TRENDS 

"Growing Interest of Neurological Patients to Stimulate Market Development "

The stuffed animal and plush toys market will continue to be severely impacted by the rising frequency of neurological illnesses.  Patients with neurological conditions including cognitive impairment and Alzheimer's disease can recapture their childish behavior with the use of stuffed and plush toys, which helps to sharpen their memory.  Additionally, stuffed animals and other cuddly objects make neurological patients feel at ease and cheerful, which increases the likelihood that they will recover.  Neurological patients' growing interest towards soft and plush toys will continue to fuel the global stuffed animal and plush toys market growth expansion.

Stuffed Animal and Plush Toys Market Segmentation

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• By Type

Based on type; the market is divided into cartoon toys, traditional stuffed animals, dolls & playsets, customizable stuffed animals, action figures & model play, special feature plush and puppets

Cartoon toys are the leading part of the type segment.

• By Application

Based on the application; the market is divided into hyper/super market, e-commerce, toy stores, hobby and craft stores, other sales

Hyper/super market is the leading part of the application segment.

DRIVING FACTORS

"Green Toys to Aid Market Expansion "

Western European and American consumers are becoming more environmentally concerned, and this awareness is impacting the products they choose to buy. The requirement for sustainable stuffed animal and plush toys is anticipated to soar during the anticipated time frame. There appears to be a clear focus on green toys as consumer demand for safer and more ecologically friendly items grows.  As a result, many parents start teaching their kids about the environment at a young age.  Because of this, consumer preference for environmentally conscious stuffed and soft toys is increasing. Examples of these toys include stuffed animals made of organic cotton. Therefore, the green toys will uplift the market growth in the coming years.

"Increasing Demand for Cartoon Toys to Foster Industry Progress "

According to product category, the stuffed animal and plush toys market share is anticipated to be dominated by the segment of cartoon toys.  The market is expected to expand due to the increasing popularity of animation TV shows and growing merchandise power.  In addition, cartoon toys draw in young people and are noticeable to anyone in a store.  Last but not least, freebie campaigns and events held at various locations support the promotion of cartoon toys across the board.

RESTRAINING FACTORS

"Attraction of Dust Mite by the Toy to Hinder Market Advancement  "

Giving any infant a stuffed animal has certain undeniable advantages, but there are also a few potential drawbacks one should be aware of. These toys may attract dust mites, which is a potential drawback for the stuffed animal and plush toys market. These microscopic insects feed on the skin cells of humans and flourish in warm, humid places like bedrooms. This implies that if the child has asthma or allergies, having a stuffed animal inside their crib could worsen their symptoms or set off an attack.

Stuffed Animal and Plush Toys Market Regional Insights

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"Increasing Levels of Disposable Income in North America to Support Market Advancement "

Due to the high demand for various kinds of stuffed and plush toys, particularly in the U.S. and Canada, North America now owns the biggest share of the market in the worldwide market. Additionally, it is anticipated that demand for soft toys produced to order would fuel the regional industry even more. Over the forecast period, the region is anticipated to have the quickest CAGR of over nine percent. The growing market driving in nations is responsible for this growth. The demand for the product will be further boosted by increasing levels of disposable income and higher living conditions in these nations.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled 

• Mattel (U.S.)
• Hasbro (U.S.)
• Bandai (Japan)
• Ty Inc. (U.S.)
• Simba Dickie Group (Germany)
• Spin Master (U.S.)
• TAKARA TOMY (Japan)
• Margarete Steiff GmbH (Germany)
• MGA Entertainment (U.S.)
• Sanrio (Japan)
• Melissa & Doug (U.S.)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.