Toys And Games Market Size to grow by USD 80.5 billion between 2024-2028
According to a research report “ Toys And Games Market” by Product (Activity and ride-on toys, Infant and pre-school toys, Games and puzzles, Plush toys, Others) Distribution Channel (Offline, Online) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 80.5 billion, at a CAGR of 8.61% during the forecast period. The global toys and games market has experienced significant growth in recent years, driven by factors such as urbanization and increasing consumer purchasing power, particularly in emerging economies like Russia, China, and India. This shift in lifestyle has resulted in higher disposable incomes for families, leading to increased spending on children's toys and games. For instance, in the US, there were approximately 15.04 million households headed by women without a spouse in 2022, contributing to a rise in disposable income and subsequent spending on children's entertainment. This trend is expected to continue, providing a lucrative opportunity for market vendors to increase their revenue.
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By Product, the Activity and ride-on toys segment is projected to dominate the market size in 2024
The toys and games market represents a significant sector in the consumer goods industry, characterized by continuous growth and innovation. Companies in this space prioritize consumer safety, quality, and affordability to cater to the evolving needs of families and children. Trends such as educational toys, tech-enabled games, and sustainable production are shaping the market's future direction. Businesses must stay informed of regulatory requirements and consumer preferences to maintain a competitive edge.
By Distribution Channel, Offline segment is expected to hold the largest market size for the year 2024
The toys and games market represents a significant sector in the consumer goods industry, characterized by continuous growth and innovation. Companies in this domain offer a wide range of products, catering to various age groups and developmental stages. To stay competitive, businesses prioritize product quality, safety, and affordability, while also focusing on marketing strategies and customer engagement. The market is further influenced by trends, such as the increasing popularity of educational toys and e-games, as well as the integration of technology into traditional toys.
North America is forecasted to hold the largest market size by region in 2024
The toys and games market represents a significant sector in the consumer goods industry, characterized by continuous growth and innovation. Manufacturers and retailers offer a diverse range of products, catering to various age groups and preferences. Market trends include the integration of technology, sustainability, and educational value. Competition is fierce, necessitating strategic marketing and operational efficiency to capture market share. Successful businesses prioritize customer satisfaction, product quality, and competitive pricing.
The Toys And Games Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Toys and Games market is a vibrant and diverse industry, encompassing a wide range of products from classic board games like Scrabble and Pentagram, to tech-based toys and video games. Parents continue to seek out conventional toys that offer cognitive benefits, such as puzzles, construction sets, and building toys, for their children. However, the market is also seeing a shift towards digitalization, with e-commerce platforms and e-stores becoming increasingly popular. One trend in the industry is the rise of service-oriented models, where companies like Mattel produce content for their brands, such as Barbie, and offer experiences beyond just the physical product. This includes digital content, educational resources, and even social gatherings. Another trend is the emergence of tech-based toys and mobile-based gaming, which integrate STEM concepts and sustainability into play. Crowdfunding platforms like Kickstarter have also played a role in bringing innovative and unique toys and games to market. Meanwhile, millennials are driving demand for old-school games and puzzles, as they look for ways to disconnect from technology and engage in more traditional forms of entertainment. The future of the Toys and Games market is likely to be a blend of traditional and digital offerings, with a focus on sustainability and educational value.
Market Research Overview
The toys and games market is a vast and dynamic industry that caters to people of all ages and interests. From action figures based on popular movies, television shows, and cartoons featuring beloved characters, to multi-functional toys that help children develop social skills, physical skills, and cognitive abilities through creativity and emotional expression, the market offers a wide range of products. Accessories such as jigsaw puzzles, skipping ropes, toy vehicles, rattles, and games like Chutes and Ladders, Scrabble, Chess, and Exploding Kittens continue to be favorites, while technological developments have given rise to interactive toys, educational toys, mobile gaming, virtual reality (VR), electronic games, and mobile apps. The toy industry has evolved into a service-oriented model, with content production and technological advancements playing a significant role. Parents look for toys that offer cognitive benefits, whether it's through conventional toys like building sets or tech-based toys that teach STEM concepts. E-commerce platforms have made retailing products more accessible, with online platforms offering a wide selection of toys and games for all age groups. Traditional toys and old-school games continue to be popular, with indoor games and board games providing recreational activities for families and social gatherings. The market also caters to seniors with senior-friendly games and younger adults with video game tournaments and video content. Sustainability is a growing concern, with eco-friendly and green toys gaining popularity. Kickstarter and other crowdfunding platforms provide opportunities for entrepreneurs to bring innovative toys and games to market. Overall, the toys and games market offers endless possibilities for fun, learning, and social interaction.
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Jesse Maida
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Email: media@technavio.com
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