Global Toy Gun Market is Expected to Reach USD 2,897.7Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Toy Gun Market by Type, by Distribution Channel and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 1,980.0 Million in 2022 and is expected to grow at a moderate growth rate of 4.5% by the year 2031.

As per Growth Market Reports industry analyst Akash Vedpathak, “Global Toy Gun Market is anticipated to witness significant growth during the forecast period 2022-2031.

A toy gun is a replica of a firearm or simulated weapon designed specifically for recreational purposes and play. Toy guns serve as means of imaginative play, encouraging creativity, strategic thinking, and teamwork. These guns can be used in various purposes such as games, role-playing scenarios, and props in movies. As toy guns offer a safe and entertaining way for children to explore their imagination, improve motor skills, focus, and social skills. The increasing spending on toys, shifting consumer preferences, and a growing interest in outdoor activities are propelling the market growth. Furthermore, a rise in disposable income is driving the market growth.

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Key factors that are anticipated to fuel the demand for the global Toy Gun market during the forecast period are Rise in Disposable Income and Growing Number of Manufacturers in the Market. Conversely, Stringent Government Regulations, and Rising Adoption of Online Games hamper the market growth of the Toy Gun market. Rising Adoption of E-commerce creates opportunities in the market.

Supply chain management is an essential part of any business. A supply chain contains a series of steps to get products from their original state to the customers. The supply chain of the Toy Gun market involves raw material suppliers, manufacturers, distributors, and end-users. Raw materials such as Steel, Iron, Wood, Metal, Rubber, Plastic are sourced by manufacturers. Manufacturers use raw materials such as steel, iron, wood, metal, rubber, plastic, and others are used to manufacture toy gun. Distributors store finished products in large inventories and are mediators in the supply chain. They directly obtain the products from the manufacturers and pass them midstream. End-users include various businesses. This is the final step of the supply chain where consumption takes place. End-users of toy guns include Kids and Adults.

The primary, as well as secondary research methodology, is used for keen observation and study about the Toy Gun market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The coronavirus outbreak hampered the global toy gun market in 2020. The World Health Organization (WHO) declared a public health emergency after the COVID-19 virus spread in December 2019.  Manufacturers of toy guns were affected during the pandemic, owing to restrictions and the closure of global industries. Import and export facilities were restrained, due to transport restrictions. The pandemic led to disruptions in the supply chain, exports, large-scale manufacturing, transportation, and the closure of manufacturing plants. Demand for toy guns decreased during the pandemic, due to the closure of manufacturing units during the lockdown. Furthermore, governments imposed various restrictions on trade and commerce, which affected various sectors negatively.

Key Takeaways from the Study:

Based on type, the global toy gun market is segmented into water gun, soft bullet gun, model gun, and others that include cap guns, toy laser guns, toy dart guns, and others. The model gun segment is expected to expand at a significant CAGR during the forecast period, owing to factors such as shifting consumer choices, rising disposable income, and rising population interest in outdoor activities.

For instance, In 2022, Aditi Toys Private Limited launch a product that offers a vibrant, modern, and inclusive product range. CHANAK is a brand that helps the company in differentiating itself in the market and better connect with customers. A brand developed to provide children with innovative and exciting play experiences. Its toys are made with the highest quality materials and are designed to be safe, durable, and fun.

Based on distribution channel, the toy gun market is segmented into supermarket, toy store, and others. The toy store segment is projected to expand at a significant CAGR during the forecast period. Toy stores are highly preferred, as they enable tangible checking of products before purchasing and their presence in large numbers across the cities, and towns.

For instance, On May 19, 2022, Hasbro acquired D&D Beyond to accelerate a direct approach to fans and drive a unified vision of the Dungeons & Dragons brand across the physical and digital play. The acquisition helped Hasbro to evolve its capabilities and strengthen its unique ecosystem of world-class tabletop and digital game.

On the basis of region, the global toy gun market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Europe is projected to expand at a significant CAGR during the forecast period due to the increasing demand for model guns in countries such as the UK and Germany and increasing consumer expenditure on children’s toys.

Report Scope:

Target Audience:

• Supply-side: Manufacturers, raw material suppliers, and distributors

• Demand Side: Kids & Adults