Innovations and the need for  skill development  are propelling the demand for educational toys in the global market. The manufacturers are increasing the investments in the development of STEM toys to meet the growing consumer demand in the global market. These toys are designed to enhance the  cognitive development of children at a young age. Social media trends and economical price points will help vendors reach a maximum number of consumers in the global educational toys market. The introduction of construction and building toys that help create an engaging and competitive environment that allows the children to reinforce and apply to learn while having fun playing these games. The educational toys are leveraged as a visual metaphor to help connect and improve the motor skills and problem-solving skills in children in the global market. The development of smart toys helps improve interaction capabilities and develop social skills in kids. The development and launch of these innovative toys will boost the revenues in the global market over the next few years.

The global toys market is projected to generate revenues of over $120 billion by 2023, growing at a CAGR of more than 4% during 2017-2023.

Educational Toys for Cognitive Development

The focus on skill development is attracting a lot of parents to spend on educational toys in the market. However, this is always associated with an uphill battle with children, as they are generally drawn to new bright and contrast toys. The increasing number of child psychologists and their popularizers in magazines who provide with lists of time-tested toys that boost skill development will drive the growth of the market over the next few years. Psychologists Sigmund Freud and Jean Piaget proposed that parents were equally important, if not more than natural development to define how the child turns out, parents have taken upon themselves to make their children sharper and more intelligent. Such change in attitude has led the parents to invest more in toys and games designed to develop thinking and intelligence quotient of children. The increase in advertisements promoting educational toys led to a larger number of parents buying more of these products including puzzles for their children in the global market. Manufacturers are increasing their product portfolios to include more educational toys to meet the growing demand from consumers in the market.

Games and Puzzles

Games and puzzles are always used to encourage children to develop complex thinking capabilities in the market. These games are an excellent way of teaching communication skills and language arts to kids. Complex board games and strategy-based games are witnessing extreme popularity among grade-schoolers, teenagers, and adults in the global educational toys market. Among the games and puzzles, the category has seen some highly popular games like monopoly and dungeons and dragons. These puzzle games are designed to develop the problem-solving skills of the children. The paper or board puzzles are made of animated characters or preset designs which are cut into random shapes.The target of the kids remains to the break out all the pieces and reassemble the pieces together to remake the initial design. The most influential puzzle toy is the Rubik’s cube, which comes in a cube shape with smaller same-colored 3×3 or more squares on each face side. Once the pattern is distorted, the aim remains to reset the cube until all sides have the same colored squares. The introduction of these toys will augment the development of the educational toys sector in the global market.

LEGO in the Toys Market

LEGO is one of the leading companies manufacturing toys and other play materials in the market. The LEGO toys are sold in over 130 countries. As of 2017, the company recorded revenues of an estimated $5.46 billion and employed 17,534 employees. LEGO has been designing educational toys that develop motor skills and cognitive development in children. The company is primarily known for its brick type plastic products, which are used in the proprietary LEGO building system which form the platform to the children to have an open-ended play and drives demand in the educational toys market.

The company offers its toys in the following age groups:

  • 1−5 Years
  • 4−7 Years
  • 5−12 Years
  • 7−16 Years

Though the LEGO products are market for children aged between 7 to 12 years, the company has found a large consumer group in adults. The adults increasingly become fond of the complex LEGO building systems. One noteworthy example is the repetitive showcase of the LEGO death star in the hit television series The Big Bang Theory. LEGO reported double-digit growth in the Chinese market. Such developments will help boost the sales of educational toys in the global market.

The leading vendors in the global toys market are:

  • Lego Group
  • Mattel
  • Hasbro
  • Bandai Namco
Read: Toys Market - Global Outlook and Forecast 2018-2023

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