Latest News by Industry
DUBLIN--(BUSINESS WIRE)--Oct 31, 2022--
The "Global Toy Market Overview, 2022-2027" report has been added to ResearchAndMarkets.com's offering.
This report attempts at analysing the global scenarios, trends and patterns that are shaping up this USD 130 Billion. Further, the market is projected to grow with more than USD 165 Billion and above 6% CAGR for 2022-2027. In-order to identify the market dynamics from different angles, the publisher sliced the market into relevant segments.
The segmentation done are on the basis of age group, the range of product line and the sales channels in the market. The age group is categorised into 0-8-year-old age group, 9-15-year-old age group and above 15-year-old age group. The product lines for the toy market include - action figures, arts and crafts, building sets, dolls, games and puzzles, infant/ toddler/ preschool toys, youth electronics, outdoor and sports toys, plush toys, miniature vehicles replicas, and explorative toys.
Globally we have seen industry reshuffling their product lines in order to match with the demands and changing consumer needs. Outdoor & sports toys have the highest market share globally majorly driven by United States which also happens to be the biggest toy market in the world as of 2019. The product lines are also expected to be changing to adapt and suit to the changing preferences of consumers.
Also, a boost in the demand for traditional toys is also observed in some of the MEA and Asia Pacific markets. When the market is segmented according to the age group, it is evident that the consumers are gradually drifting away from toy and are shifting towards other entertainment mediums such as computer and video gaming. This shrinks and entire age category of children above 15 years of age.
The 9-15 years category show immaterial change and accounts for roughly 50% of all toy sales in the world. This category also has a scope to grow as more and more manufacturers are competing for the licenses. The toys that fall in the age category for 9-15 years are perfectly positioned to endorse brand licensing.
Also, there has been significant innovation and change in product designs and nature of toys in the early age category of 0-8 years old. The 0-8 years category toys mostly included infant/toddler toys such as object replicas, vehicles and dolls. It has been observed that the 0-8 years category shows signs of maturity in the more developed markets such as US, UK, Germany and France whereas the emerging markets in the global toy market landscape are seeing an expanding share of the category.
The sales and distribution channel for the toy market has been split into online and offline channels. The outbreak of novel corona virus has added impetus to the growth of online sales channels of the market. For regions like in North America, Europe and Latin America where the majority proportion of annual sales of toys are generated during the festive seasons in winter, the respective toy markets have seen expansion of sales channels.
However, a robust e-commerce system also played a key role in the effective transition of consumers to move from offline retail stores, supermarkets to shop toys online. For emerging markets such as in Latin America, Asia Pacific and MEA, the toy companies are expected to monitor the development of online sales channels for toys as these regions have exponential growth in internet users over the last half a decade.
Major Companies present in the market
Bandai Namco Entertainment Inc., Dream International Limited , Hasbro Inc., Jakks Pacific, Inc., The LEGO Group, Mattel, Brandstatter Group (Playmobil), Ravensburger, VTech, Kids II, Inc., K'Nex Industries, , Inc, Clementoni, Goliath Games, Artsana Group, Nintendo Co. Ltd.
Considered in this report
Aspects covered in this report
Regions covered in the report
Segment covered in the report
By Product
By Age Group
By Distribution Channel
For more information about this report visit https://www.researchandmarkets.com/r/nm7mo1
View source version on businesswire.com:https://www.businesswire.com/news/home/20221031005658/en/
CONTACT: ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.comFor E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
KEYWORD:
INDUSTRY KEYWORD: CHILDREN CONSUMER ELECTRONICS TECHNOLOGY ELECTRONIC GAMES ENTERTAINMENT RETAIL TOYS FAMILY CONSUMER TEENS PARENTING
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 10/31/2022 01:07 PM/DISC: 10/31/2022 01:07 PM
http://www.businesswire.com/news/home/20221031005658/en