Toys and Games Market:
The GMI Research’s latest analysis reveals that the Toys and Games Market is slated to register a significant CAGR over the forecast period. This is attributed to the growing popularity of interactive and multi-functional toys and games among children, the increasing educational gaming and toys series, rising social media penetration, increasing user engagement, and growing audience.
Toys and Games Market’s leading Manufacturers:
- Hasbro
- Integrity Toys, Inc.
- JAKKS Pacific
- K’NEX
- LEGO Group
- Mattel, Parent Co.,
- MEGA Brands Inc.,
- BANDAI NAMCO Holdings. Inc,
- Playmates Toys Limited
- TOMY
Toys and Games Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global toys and game market is predicted to witness an upsurge in demand during the forecast period due to the growing popularity of interactive and multi-functional toys and games among children. The rapid technological advancements in the industry have led to fundamental consumer behavior changes, which has boosted the demand for games worldwide. For example, AR and VR headset has surged the adoption of video games especially in children, thus driving the growth of the toys and game market size. Moreover, the increasing educational gaming and toys series will further propel the growth of the market. Educational toys and games have a significant contribution to the children’s value education. As per the “Asian Journal of Education and Training,” better development of humans is characterized by the mode of toys and play, which aids in building up a framework of the connection with education and culture. This factor is growing parents’ awareness towards the adoption of games and toys for their child’s development. The market is witnessing a rise in the demand for a replica of instruments, including a guitar, keyboard, art and craft toys, drums, and stuffed toys. The rising social media penetration, increasing user engagement, and growing audience are certain factors that are expected to drive the growth of the market. As per the “The Toy Association, Inc.,” there has been an increase in the sale of toys by 15% from 2014-2019, which illustrated the wide potential of the global toys sectors.
The increasing popularity of counterstrike, FIFA, PUBG, and video games will further stimulate the growth of the toys and game market share in terms of revenue. With the growing number of computers, smartphones, rising income, the digital game market has drastically increased. For instance, as per the GSM association, in 2017, global smartphone adoption touched 59% and is predicted to increase by 79% by 2025. Thereby, with the rising rate of smartphone adoption, the demand is growing, along with the number of consumers, which will accelerate the growth of the market.
Toys and Games Market Segmentation:
Segmentation by Product Type:
- Games and Puzzles
- Infant and Pre-School Toys
- Construction Toys
- Dolls and Accessories
- Outdoor and Sports Toys
- Video Games
- Others
Segmentation by Distribution Channel:
- Online Channel
- Offline Channel
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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