Toy Blocks Market Size, Share, Growth, and Industry Analysis, By Type (Plastic Blocks, Wooden Blocks, Magnetic Blocks, Others), By Application (< 1 Year Old, 1-5 Years Old, > 5 Years Old) Regional Forecast to 2028

Updated On: 08 April 2024

REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

The global toy blocks market size was USD 11260 million in 2022. As per our research, the market is projected to touch USD 16720 million by 2028, exhibiting a CAGR of 6.8% during the forecast period.  The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Toy blocks are solid, cubic toys made of wood or plastic that are typically adorned with letters or pictures on each surface. This allows for a variety of configurations and architectural activities without the need for a wide range of patterns, which helps to develop children's intelligence. The blocks can be assembled to form a house, a variety of animals, etc. While teaching youngsters hand-eye coordination, the placement of blocks, joints, rings, symmetry, and other elements are beneficial for their intellect, accumulation does not aid in the development of intelligence. Children’s early idea of number development benefits from their involvement with proportion, symmetry, and other challenges when building blocks.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Safe Plastic Toys to be a latest trend in the market "

Manufacturers of construction toys claim that plastics are entirely safe for children because of their low toxicity and water resistance. Toys with PVC, plasticizers, and Bisphenol A as ingredients—including adipates and phthalates—are not appropriate for children and may have detrimental impacts on their health that could impede their development. A few nations, including Germany, Sweden, and India, have regulatory bodies that forbid the use of these materials in toys. Toy producers are being forced to steer clear of the plastic materials due to growing awareness among parents and education authorities. Construction toys help youngsters become more cognitively flexible, according to numerous studies conducted in the past few years on child psychology and cognitive development.

SEGMENTATION

• 

• Request a Free Sample to learn more about this report

• By Type

Based on type the global toy blocks market is classified as Plastic Blocks, Wooden Blocks, Magnetic Blocks, Others.

• By Application

Based on application the global toy blocks market is classified as < 1 Year Old, 1-5 Yearas Old, > 5 Years Old.

DRIVING FACTORS

"Growth in Surgical procedures to fuel the market growth"

Building blocks and construction sets are examples of toys that are intended to foster children's creativity, spatial reasoning, and problem-solving abilities. Toys with educational value are valued by parents and educators, which may increase demand for toy blocks. The rising emphasis on STEM (science, technology, engineering, and mathematics) education has resulted in an increase in the market for toys that help kids develop these abilities. Building blocks are appealing to parents and educators because they can aid in the development of fundamental skills in these areas. Parents are searching for toys that offer tactile and hands-on play experiences as worries about their children spending too much time on screens have grown. Building blocks are becoming more and more popular since they provide an alternative to digital entertainment.

"Technological advancements to accelerate the market growth"

Playing with toy blocks helps youngsters develop their fine motor skills since it demands accurate hand manipulation and coordination. The market has been driven by this facet of development. Many people remember playing with building blocks as children and remember it being fun. This sentimental attachment may prompt them to buy comparable toys for their own kids, so sustaining demand. To draw in customers, toy producers frequently release new features, designs, and licenses. These developments, such play sets based on well-known films or television series, can stimulate demand and boost sales of toy blocks.

RESTRAINING FACTORS

"Challenges Impeding the negative effect on the environment resulting in decline in growth"

The growing popularity of digital gadgets and interactive online entertainment has the potential to draw kids' attention away from conventional toys like building blocks, which could affect the market for real toys. To guarantee that their products are safe for children, toy producers must adhere to strict safety requirements. Adhering to these requirements may result in higher manufacturing expenses and administrative workloads. The cost of premium building block materials can be high, and buyers may have price sensitivity issues. Striking a balance between product quality and cost that appeals to their target market can be difficult for manufacturers.

REGIONAL INSIGHTS

• 

• Request a Free Sample to learn more about this report

"North America Region Becomes Leads Market Growth Owing To High Sales In The Region "

Due in significant part to the growing use of blocks and construction sets in kindergartens across the U.S. and Canada, North America emerged as the largest regional sector for construction toys in 2022, accounting for substantial revenue. Building toys are used by child psychologists and researchers from U.S. colleges to assess children's cognitive abilities. The growing demand for construction toys from classrooms, nursery schools, schools and other educational institutions is anticipated to propel the U.S. market for these toys.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• Lego (Denmark)
• Mattel (U.S.)
• Melissa & Doug (U.S.)
• Haba (Germany)
• Magformers (South Korea)
• Magna-Tiles (Valtech) (U.S.)
• People Co., ltd. (South Korea)
• B.Toys (Battat) (U.S.)
• Banbao (China)
• Gigo Toys (Taiwan)
• Loongon (China)
• Qman (China)
• Star Diamongd (China)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.