The global board games market size to reach USD 30 billion by 2026, growing at a CAGR of 13% during the forecast period. The market has been experiencing popularity and acceptance among players despite intense competition from digital entertainment sources. However, the eruption of the COVID-19 pandemic has contracted the market slightly. Turbulences in the supply chain and restriction of the imposition of lockdowns across the globe have adversely affected retail board games. Cafes facilitating board games have witnessed a steep decline in footfall after easing lockdown restrictions across the world. These cafes in the US region have witnessed a 35% decline in footfall. However, there are several reasons for the significant growth of the global board games market, including the emergence of board game conventions, gaming cafes, and nerd culture.
- Product customization could prove an effective strategy to expand the consumer base and increase market shares during the forecast period.
- After the eruption of COVID-19, Latin America has been witnessing an increase in board games' popularity, which is likely to grow further during the forecast period.
- APAC-based vendors are likely to “go global” with their product launches during the forecast period.
GLOBAL BOARD GAMES MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY PRODUCT
Puzzles have remained an exciting and most dominating source of board game products over the last few decades. They also have an educational value for children in several age groups, which is increasing their adoption. With major vendors constituting a small portion of the market share, independent domestic vendors across the globe account for the majority of market shares.
Amid the breakout of the COVID-19 pandemic, the tabletop segment has witnessed a slowdown. Europe, one of the leading buyers, has undergone strict lockdowns, causing a potential loss in revenue to tabletop vendors. Key players of the market, such as Hasbro, suffered a loss in 2020 due to lockdowns. The miniature segment is gaining popularity because of the popularity of TV series such as Big Bang Theory and Marvel characters. The increasing popularity of cartoon figures through multimedia channels is increasing the demand for miniature games.
INSIGHTS BY THEMES
On account of the outbreak of the COVID-19 pandemic, which has led to the closure of retail marketplaces and the cancellation of several mega-events and gaming conventions has drastically affected the board games market. Educational games gained popularity among parents due to schools' closure, with the online sale increasing by 18% across the globe. However, retail outlets' sales declined during Q2 and Q3 2020, recurring an estimated of over $50 million to market revenue in 2020. The segment is expected to reach $13 billion by 2026 due to these games' relevancy among modern parents.
Strategy & war games are designed for game enthusiasts. As the lockdown across the globe extends, the total leisure time has increased, which has led to increased adoption among residential users. However, restrictions on people’s movement and social distancing have adversely affected community players, which are the potential buyer of strategy games. The relevance of indulging in such games is extremely high, and themes are highly appreciated in South Korea, Germany, Japan, and China. Honing of tactical decision-making abilities tends to drive the demand for strategy & war games in the market.
INSIGHTS BY DISTRIBUTION
Board games are sold through online and retail distribution networks, including specialty stores, supermarkets and hypermarkets, mass-market players, department stores, small chain stores, free-standing toy stores, catalog stores, and other non-tracked retail outlets. The sale of board games via retail stores such as supermarkets and specialty stores has always remained high across the globe. Although online is growing, a significant share of board game distribution takes place through mass-market players and specialty stores. However, with the outbreak of the COVID-19 pandemic, the sale from retail sales has gone down drastically. Stores across the world have suffered an immense loss due to lockdowns and restrictions.
INSIGHTS BY GEOGRAPHY
The increase in disposable incomes has been one of the major factors influencing the sale of board games in the APAC region. Countries like China, India, Japan, and South Korea, along with Malaysia and Indonesia, are expected to witness decent growth in demand due to improved living standards. Another major factor influencing the growth in the region is the presence of a large young population in China and India. The APAC board games market is one of the fastest-growing segments. India and China are registering demand for tabletop and card & dice games. In India, board games are associated with developing educational and critical thinking ability among grade-schoolers. Thus, parents are purchasing board games for their children to develop their educational and learning quotient.
INSIGHTS BY VENDORS
The board games market is slowly shifting from being concentrated to a fragmented one, with several independent vendors barging in. The outbreak of the COVID-19 pandemic has increased the potential of board games across the globe. Board games worldwide have witnessed a significant push in popularity, especially among residential users. Besides, the product development cost requires a lower investment than electronic gadgets. However, product counterfeiting, especially for card and dice games, turned the market dynamic complex for major commercial players in 2020.
The board games market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
By Product Type
- Card & Dice
- Collectible Card
- Strategy & War
By Distribution Channel
- Retail Channel
- Specialty Stores
- Mass Market Players
- Other Retailers
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa