Toys And Games Market Size, Share, Growth, and Industry Analysis, By Type (Games and Puzzles, Infant and Pre-School Toys, Construction Toys, Dolls and Accessories, Outdoor and Sports Toys, Video Games and Others), By Application (Online Channel and Offline Channel), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

TOYS AND GAMES MARKET REPORT OVERVIEW

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global toys and games market size was USD 351842.36 million in 2021 and market is projected to touch USD 611826.55 million by 2032 at CAGR 5.16% during the forecast period.

The toys and games industry is a dynamic and diverse sector that caters to the entertainment and developmental needs of children and adults alike. It encompasses a wide range of products, from traditional toys like dolls, action figures, and board games to the latest electronic and interactive gaming experiences. The design and manufacturing of toys involve creativity, safety considerations, and adherence to regulatory standards. Educational toys contribute to children's cognitive development, while entertainment-focused products offer joy and amusement. In recent years, technological advancements have led to the integration of smart features in toys, adding an interactive and educational dimension to play experiences. The global toys and games market is influenced by evolving consumer preferences, licensing agreements with popular franchises, and innovations that enhance the play value of products.

The toys and games industry is not only shaped by creativity but is also subject to rigorous safety and quality standards to ensure the well-being of users, particularly children. Market trends often reflect shifts in popular culture, technological advancements, and the growing emphasis on sustainable and eco-friendly toy options. Manufacturers, designers, and marketers in this industry must balance the fun and imaginative aspects of their products with considerations for safety, ethical sourcing, and environmental impact. Overall, the toys and games market continues to evolve, driven by a blend of traditional play values, innovative technologies, and a commitment to meeting the diverse needs of consumers.

COVID-19 IMPACT:  Market Growth Restrained by Pandemic due to Supply Chain Disruptions

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

The global lockdowns and restrictions on movement significantly disrupted the supply chains for toys and games. Manufacturing facilities faced closures or reduced capacities, leading to delays in production. This disruption affected the availability of new products and restocking of popular items. The closure of movie theaters and disruptions in film and television production impacted licensing and merchandising tie-ins with popular franchises. This affected the release of related toys and games, particularly those linked to movie releases or major entertainment events.

Many planned product launches and marketing campaigns were delayed or restructured due to uncertainties and challenges associated with the pandemic. Companies had to navigate logistical challenges and adapt their strategies to the changing market conditions. The global nature of the toys and games industry relies on international trade. The pandemic-related disruptions, including transportation challenges and border restrictions, impacted the movement of goods, affecting the timely availability of products. The market is anticipated to boost the toys and games market growth following the pandemic.

LATEST TRENDS

"Technological Integration to Drive Market Growth"

Continued integration of technology in toys and games, including augmented reality (AR) and virtual reality (VR) experiences. Smart toys and interactive gaming systems that enhance play with digital elements are gaining popularity. A growing focus on inclusivity and diversity in toy design and marketing. Manufacturers are creating toys that represent a broader range of cultures, abilities, and backgrounds to reflect the diversity of their young audience.

The impact of social media and online influencers on toy trends. Unboxing videos, toy reviews, and demonstrations by influencers play a significant role in shaping consumer preferences, especially among younger audiences. These latest developments are anticipated to boost the toys and games market share.

TOYS AND GAMES MARKET SEGMENTATION

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• By Type                  

Based on type the global market can be categorized into Games and Puzzles, Infant and Pre-School Toys, Construction Toys, Dolls and Accessories, Outdoor and Sports Toys, Video Games and Others.

Games and puzzles encompass a wide variety of options, including board games, card games, jigsaw puzzles, and brain-teasers. These toys promote cognitive skills, strategic thinking, and social interaction.

Designed for the youngest age groups, infant and pre-school toys focus on sensory stimulation, motor skill development, and early learning. These toys often include soft plush toys, building blocks, stacking rings, and interactive toys that engage infants and toddlers while encouraging exploration and basic skill development.

Construction toys are designed to allow children to build and create structures. This category includes building blocks, construction sets, and kits that enable children to use their imagination to construct buildings, vehicles, and other imaginative creations.

Dolls and accessories involve a diverse range of dolls representing different characters, genders, and themes. Accessories may include clothing, furniture, and playsets that enhance storytelling and imaginative play. Dolls are often companions that encourage role-playing, nurturing, and social interaction.

Outdoor and sports toys are designed for active play outdoors. This category includes items like balls, frisbees, kites, bicycles, scooters, and sports equipment. These toys promote physical activity, coordination, teamwork, and healthy lifestyles.

Video games are electronic games played on gaming consoles, computers, or mobile devices. This category includes a vast range of genres, from action and adventure to simulation and educational games. Video games cater to a broad audience and provide immersive entertainment experiences, often incorporating elements of storytelling, strategy, and skill development.

• By Application

Based on application the global market can be categorized into Online Channel and Offline Channel.

The online channel refers to the distribution and sale of toys through digital platforms and e-commerce websites. This includes dedicated toy retailers' websites, online marketplaces, and digital platforms where consumers can browse, purchase, and receive toys through shipping or delivery services.

The offline channel refers to the traditional brick-and-mortar retail outlets where toys are sold physically. This includes toy stores, department stores, specialty toy shops, and other physical retail locations. Customers can visit these stores, explore product displays, interact with toys, and make immediate purchases.

DRIVING FACTORS

"Rise of E-commerce to Boost the Market"

The increasing prevalence of e-commerce has expanded the reach of the Toys and Games market. Online retail platforms provide a convenient and accessible way for consumers to explore and purchase a wide range of toys, contributing to market growth. Manufacturers closely monitor and respond to changing consumer trends and preferences. This includes preferences for certain themes, characters, and play experiences, as well as shifts in demand for sustainable and eco-friendly products. The influence of social media, including unboxing videos, toy reviews, and online influencers, plays a significant role in shaping consumer preferences. Social media platforms contribute to the visibility and popularity of specific toys and trends.

"Parental Involvement & Consumer Awareness to Expand the Market"

Increased awareness among parents regarding the importance of play in child development drives the demand for toys that offer both entertainment and educational benefits. Parents actively seek toys that align with their values and preferences. The importance of diversity and inclusivity in toy design is a driving factor. Manufacturers are creating toys that represent a broad range of cultures, backgrounds, and abilities, reflecting the diversity of their young audience. The appeal of nostalgic and retro toys continues to drive demand. Manufacturers capitalize on the nostalgia of parents and collectors by reissuing or reimagining classic toys and franchises. These factors are anticipated to drive the toys and games market share.

RESTRAINING FACTOR

"Economic Downturns to Potentially Impede Market Growth"

Economic recessions or downturns can impact consumer spending on non-essential items, including toys and games. During periods of economic uncertainty, families may reduce discretionary spending on leisure and entertainment products. Disruptions in the global supply chain, as seen during events like the COVID-19 pandemic, can lead to challenges in the production and distribution of toys and games. Delays in manufacturing and shipping can affect product availability and time-to-market. Licensing costs associated with popular franchises and characters can be substantial. Companies heavily dependent on licensing agreements may face challenges if the popularity of certain franchises wanes or if licensing costs become prohibitive. The factors are anticipated to hinder the growth of the toys and games market growth.

TOYS AND GAMES MARKET REGIONAL INSIGHTS

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"North America to Dominate the Market owing to Diverse Market Landscape "

The North American market is diverse, comprising various demographics and cultural preferences. The demand for toys and games spans different age groups and interests, contributing to a broad and dynamic market. North America, particularly the United States, has a large and affluent consumer base with substantial spending power. The region's households often allocate a significant portion of their budgets to discretionary items, including toys and games. North America is known for its innovation and early adoption of technology. This characteristic is reflected in the toys and games market, where consumers show interest in technologically advanced and innovative products.

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 in 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 portfolio.

List of Market Players Profiled

• Hasbro Inc. [U.S.]
• Simba-Dickie Group [Germany]
• Bandai Namco Holdings Inc. [Japan]
• Nintendo Co., Ltd. [Japan]
• Lego Group [Denmark]

INDUSTRIAL DEVELOPMENT

September 2019: Injection-Molded Plastic Building Blocks manufactured by Lego Group. LEGO sets are designed to encourage imaginative play and creativity, allowing users to build anything from buildings and vehicles to entire themed worlds. While providing entertainment, LEGO sets also have educational value, promoting spatial awareness, fine motor skills, and problem-solving abilities in users, especially children.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.