According to IMARC Group latest report titled “Toys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on toys market research report. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global toys market reached a value of US$ 156.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 249.6 Billion by 2027 exhibiting a CAGR of 7.50% during 2022-2027.
Toys are playthings designed specifically for toddlers and young children. They are available in various sizes and colors and are usually made from clay, cloth, paper, plastic, and wood. Toys enhance intelligence quotient (IQ), increase motor development, improve concentration and creativity, and develop personality and communication skills. They also aid in enhancing the problem-solving capabilities of children while improving their social, cognitive and physical skills. Presently, hi-tech electronic toys, puzzles, board games, action figurines and mechanical cars are gaining widespread popularity among children as they help boost creativity in children and stimulate their imagination.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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The market is primarily driven by the rising concerns among parents about the social and emotional development of their children. Moreover, various playschools are incorporating science, technology, engineering, and mathematics (STEM) toys, such as boxes, blocks, musical instruments, and jigsaw puzzles, in their education system to encourage creativity and problem-solving skills in children. This, coupled with the emerging e-commerce industry, is driving the sales of innovative electronic and digital toys across the globe. Apart from this, the growing popularity of tech-savvy electronic toys that depict action figures, such as Batman, Superman, Ironman, and Captain America, is also contributing to the market growth. Furthermore, the increasing product availability through online retail portals and favorable government initiatives encouraging companies to design and introduce toys based on culture, ethos, and local folklore and heroes, are anticipated to propel the market growth.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Clementoni Spa
- Funskool Ltd.
- Hasbro Inc.
- Lego A/S (Kirkbi A/S)
- Mattel Inc.
- Playmobil (Brandstätter Group)
- Pressman Toy Corporation (Goliath B.V.)
- Simba Dickie Group
- Spin Master
- Talicor Inc.
- Thinkfun Inc. (Ravensburger North America Inc.)
- Tomy Company Ltd
Toys Market Segmentation:
Our report has categorized the market based on region, product type, age group and sales channel.
Breakup by Product Type:
- Action Figures
- Building Sets
- Games and Puzzles
- Sports and Outdoor Toys
Breakup by Age Group:
- Up to 5 Years
- 5 to 10 Years
- Above 10 Years
Breakup by Sales Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Department Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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