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Toys Market - Global Outlook and Forecast 2018-2023

SKU : ARZ180907
  • Published on : October 2018

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This market research report on the global toys market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by category (infant and preschool toy, dolls, games & puzzles, construction, outdoor & sports, and others), by age group (0-3 years, 3-5 years, 5-12 years, and 12-18 years), by distribution channel (online and retail), and by geography (APAC, Europe, North America, Latin America, and MEA).

Insights on Global Toys Market Growth

Toys Market - Overview

The increasing demand for an important tool that provides hands-on and heads-on skill and knowledge development for children in different age groups is propelling the growth of the global toys market. Fun, entertainment, and educational learning is becoming a major focal point for teachers and parents. Several manufacturers are increasing investment in the development of STEM toys and other products that are designed to enhance cognitive development in children at a young age. The growing popularity of social media platforms, leading to the large-scale adoption of the latest toy craze is one of the major factors attributing to the exponential demand in the global market. Products such as fidget spinners and slime items gained tremendous popularity through advertisements on social media platforms. LEGO and L.O.L. Surprise  collectible dolls are some of the highest revenue generating products in the market. Puzzle and construction games are encouraging international brands to offer their products in several Asian and Latin American countries. The exponential penetration of the internet and increasing access to Hollywood movies and television content will drive the growth of the global toys market. The development of products that acts as a visual metaphor to help connect and improve the motor skills and problem-solving skills will transform the market. Critical thinking and multi-player building model allow children to build communication and relationship skills in the global market. The demand for doll accessories such as a dollhouse, clothing, jewelry, action figures, and licensed toy properties will boost revenues in the global toys market.

The growing dual-income households and improving the purchasing sentiments are two of the major factors propelling the growth of the global market. The development of economics in regions such as APAC, Latin America, and the Middle East and the African continent will create lucrative opportunities for leading players operating in the market. The global toys market is projected to reach revenues of more than $120 billion by 2023, growing at a CAGR of around 4% during 2017-2023.

Global Toys Market Analysis and Size 2023

Toys Market - Dynamics

The growing number of board games and puzzle cafes worldwide will boost the demand in the global toys market over the next years. These cafes have shelves lined with board games ready to be played and offers a wide range of game selection and rules that encourage players to hang out all afternoon discovering different games. These board games cafés are ideal settings that encourage help in social interactions in the global market. These cafés are offering a varied range of games and puzzles for visitors of different age group and attract a maximum number of consumers in the global toys market. These cafes are drawing their inspiration from the enormous success of Snakes and Lattes, a Toronto board game cafe. The UK, France, and North American region are the most popular places in the world with these games and puzzle cafés in the global market. The concept is also popular in one of the populous cities of the world such as China. There are over 700 game cafes in China and  in 2017, in Beijing alone, about 60 game cafes were opened,and there are more in the pipeline. The increasing number of these cafes that cater to both kids and adults will drive the global toys market.

Toys Market - Segmentation

This market research report includes a detailed segmentation of the market by category, age group, distribution channels, and geography.

Global Toys Market Segments and Share 2023

Toys Market – By Category

Growing popularity of ride-on and remote controlled toys will boost demand of the outdoor and sports category

The global toys market by category is segmented into infant and preschool, dolls, games & puzzles, construction, outdoor & sports, and others. The outdoor and sports segment dominated the largest market share in 2017, growing at a CAGR of more than 4% during the forecast period. The high prices of the toys and the usability of these products by children of several age groups contribute to the sales in this category in 2017. This category use playthings that are used outdoors and by children above the age of over three years. The outdoor and sports segment include guns, drones, electronic cars and planes, and other remote-controlled products. The growing demand for electronic and non-electronic ride-on vehicles is augmenting the growth of this segment in the global toys market. These products allow the children to move out of the mobile and television screens. The health benefits associated with these products will contribute to the revenues in this segment in the global market. The outdoor products and activities encourage children and adults alike to engage in more of physical activities as well as allows them to explore the open environment while developing physical and muscle strength. The rising demand for figurines resembling animals, Disney such as monsters and robots will contribute to the revenues in the doll category in the global toys market.

Toys Market – By Age Group

Safety is the main priority for manufacturers catering to the 0-3 years age group in the global toys market

The age group segment in the global toys market is categorized into 0-3 years, 3-5 years, 5-12 years, and 12-18 years. The 0-3 years age group occupied more than 1/3rd of the market share in 2017, growing at a CAGR of over 4% during the forecast period. The primary classification of products in this segment majorly focuses on the safety and entertainment requirements of the children. Companies such as LEGO are designing and developing games and building systems that can be defined in different age groups, depending on the functionality that the products are supposed to deliver. The companies are designing products to entertain infants and toddlers and gain a larger global toys market share. These categories include rattlers and shiny objects which gainthe attention of the infants and toddlers. The main characteristics of such playthings are soft texture, round corners, and a material capable of sustaining nibbling. The vendors are maintaining safety standards as their unique selling propositions to sustain the competition in the global market. The licensed toy properties, remote controlled products including cars and musical playthings are gaining immense popularity among children in the 5-12 years age group in the global toys market.

Toys Market – By Distribution Channel         

Specialty stores and retail outlets will dominate the majority of the total global toys market share during the forecast period

The global toys market by distribution channel is divided into retail (specialty stores, mass-market players, and other stores) and online. Retail channels dominated more than half of the total market share in 2017, growing at a CAGR of more than 2% during the forecast period. The different playthings through department stores, small chain stores, free-standing stores, catalog stores, and other non-tracked retail outlets are driving the growth of this segment in the global market. The easy accessibility of retail stores is attracting a maximum number of consumers. The specialty stores are offering personalized customer services that improve the overall consumer experience. The staff at hypermarkets and supermarkets help educated consumers about the toys and games, their modus operandi, and their usage that are available in the global market. The online stores are designed to offer a variety of options to consumers and the convenience of doorstep delivery which boosts the revenues in this segment. The growing popularity of e-commerce giants such as Amazon, eBay, Best Buy, JD.com, and Alibaba will propel the growth of the online channels during the forecast period.

Toys Market – By Geography    

China, Australia, Japan, and South Korea are the largest toys market in the APAC region

The geographical segment in the global toys market is classified into APAC, Europe, North America, Latin America, and MEA. APAC occupied more than 1/3rd of the total market share in 2017, growing at a CAGR of around 5% during the forecast period. The rapid urbanization and increase in spending capacity are major factors propelling the growth of the APAC region in the global market. Dolls, construction playthings, and playthings for infants and preschool children are the largest selling products in the APAC market. China, Japan, South Korea, Thailand, and India are the largest revenue generators in the APAC market. Various multinational brands and manufacturers are expanding their businesses and distribution networks to meet the growing consumer demand in the APAC market. The implementation and adoption of new technologies by manufacturers will revolutionize the APAC market over the next few years. The enhanced spending sentiments because of the economic recovery will boost the demand in the US region.

Key Countries Profiled

  • US
  • Canada
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Spain
  • The Netherlands
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Australia
  • Brazil
  • Mexico
  • UAE
  • South Africa

Key Vendor Analysis

The global toys market is highly concentrated, and the top 3 players control the level of the competition. The leading manufacturers are leveraging advanced technologies to refine their unique value proposition and gain a larger global market share. Various international brands are partnering with local, regional players to expand their businesses in emerging nations across the world market. The leading companies are utilizing factors such as smartphone proliferation, nuclear households, and humongous amount of targeted media content to advertise their products and reach a wider consumer audience in the global market. Moreover, the inclusion of technological developments such as immersive experiences of virtual and augmented reality will have a positive impact on the global toys market.

The major vendors in the global toys market are:

  • Lego Group
  • Mattel
  • Hasbro
  • Bandai Namco

Other prominent vendors are Asmodee, Ravensburger, Funskool, Top Toy, K’NEX, Playmates Toys, Simba Toys, Spin Master, CMON, Disney, Fremont Die Consumer Products, Games Workshop, Goliath, Grey Fox, IELLO, Indie Boards and Cards, INI, International Playthings, Learning Resources, Loony Labs, Ludo Fact, Melissa & Doug, Orchard Toys, Panda GM, Paul Lamond Games, Pegasus Spiele, Piatnik, Pressman Toy, Roosterfin, Reaper Miniatures, Rio Grande Games, Schmidt Spiele, Surprised Stare, SunOut, Talicor, The Haywire, The Regency Chess Company, ThinkFun, TREND Enterprises, Ultra PRO International, University Games, USAopoly, Winning Moves Games, WizKids, and Zobmondo.

Key market insights include

  1. The analysis of the global toys market provides market size and growth rate for the forecast period 2018-2023.
  2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global toys market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
  4. It offers a complete overview of market segments and the regional outlook of the global toys market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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