Latest News- Toys Market in Europe: Activity toys and accessories is expected to lead the Product segment during 2025-2029
The Toys Market in Europe is being driven by Expanding product portfolio influencing product premiumization
The Toys Market in Europe is expected to grow at a CAGR of 4.7% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 10.39 billion. The European toys market experiences robust competition, with numerous vendors offering distinct products. Crowdfunding platforms, such as Kickstarter, play a pivotal role in facilitating the development and distribution of toys and games. These platforms form strategic partnerships with manufacturers, distributors, and creators, ensuring a streamlined product lifecycle and securing funding from the public. Vendors are actively forging collaborations to expand their business through innovative product offerings and new distribution channels, thereby sustaining their competitive edge. In February 2021, Hasbro, Inc. announced a groundbreaking collaboration with Epic Games, introducing the first-ever character integration of Hasbro's Snake Eyes Outfit into Fortnite. This strategic partnership underscores the importance of forming alliances to stay competitive in the dynamic European toys market.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Product (Activity toys and accessories, Soft toys and accessories, Outdoor and vehicle toys, Games and puzzles, Others) Distribution Channel (Specialty stores, E-retailers, Hypermarkets, Department stores) Geography (Europe).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Toys Market in Europe Research Report
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The European toys market caters to the play and entertainment needs of children, fostering creativity, social interaction, and intellectual growth. It encompasses various types of toys such as action figures, dolls, puzzles, board games, building blocks, electronic devices, and educational toys. These toys aid in the development of motor skills, hand-eye coordination, problem-solving abilities, and imaginative play. They also promote emotional and physical growth, as well as cultural significance and societal values, including sharing, cooperation, and social skills.
The European toys market is a significant segment of the global leisure products industry, which encompasses categories such as sports equipment, musical instruments, camping gear, recreational vehicles, bicycles, and toys. According to Technavio, the global household durables market, which includes the revenue generated by manufacturers of household durables, including leisure products, is projected to grow due to several key factors. Among these, the increasing memberships in health and fitness clubs signify a trend towards active lifestyles and personal development, thereby fueling demand for toys that promote creativity, social interaction, and physical activity. This includes action figures, dolls, puzzles, board games, and building blocks.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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