The Global Plastic Block Toy Market was USD 10,133.2 Million in 2022 and is anticipated to reach USD 18,566.3 Million by 2031, expanding at a CAGR of 7.1% during the forecast period.
Plastic block toys are a type of construction toys made from plastic. It consists of interlocking blocks of various shapes and sizes that children use to build and create structures. Plastic Block toy is made from high-quality and non-toxic plastic materials such as acrylonitrile-butadiene-styrene copolymer (ABS) or polyethylene. ABS is a robust, hard, and heat resistant plastic. Its rigidity and high-quality finish make it a popular choice in block toys manufacturing. Plastic is a highly versatile material. It is molded into limitless array of shapes and sizes, making it suitable for creating toys. The plastics used in the production ensure safety, durability, and flexibility.
Global human population reached 8.0 billion in mid-November 2022. The global population is expected to increase by nearly 2 billion from the current 8 billion to 9.7 billion in 2050 and is projected to peak at nearly 10.4 billion in the mid-2080s. The dramatic growth has been driven largely by the gradual increase in human lifespan, increasing urbanization, and accelerating migration. Major changes in fertility rate have accompanied this growth rate. Population growth has a major impact on the toy industry. About 25% of the population is under 15 years globally. Africa has the youngest population across the globe. The high share of children and youth in Africa is underlined by the high fertility rates on the continent. Increase in the demand for toys for children leads to increased sales for toy manufacturers and retailers.
Purchasing power is increasing in the emerging markets with the growing disposable income. Families spend on items such as toys leading to increased sales across all toy categories. In emerging markets, growth is expected to be high. In the US, consumer spending made up to 54% of the total GDP of the country in the second quarter of 2021, which is widely considered to be an important indicator for the market growth. Additionally, in the US personal consumption expenditure climbed 2.7% in the first quarter of 2022, in comparison to a 2.5% rise seen in the fourth quarter of 2021. China accounted for 27% (USD 5.59 trillion) of total consumer spending in 2019.
Major Driver - Growth in STEM Toys
STEM toys are designed to foster learning in the fields of science, technology, engineering, and mathematics. It provides children with hands-on experiences that engage minds and encourage exploration & experimentation. STEM toys promote cognitive development by challenging children to think critically and solve problems. These toys provide hands-on activities to analyze situations, identify patterns, and develop logical reasoning skills.
They stimulate brains and engage them in active learning, which is proven to be more effective than passive learning. According to the US Bureau of Labor Statistics, occupations in STEM fields are projected to grow by an impressive 10.8% between 2022 and 2032. Introducing children to STEM concepts at an early age through toys and play helps in future success of the child. Thus, rise in STEM toys is expected to drive the market during the forecast period.
Existing Restraint- Environmental Concerns
Parents are seeking sustainable alternatives plastic toys for their children, due to the growing awareness of the impact of plastic toys on the environment. Eco-friendly toys contribute to a green and zero-waste future for children. Parents are opting for eco-friendly alternatives to ensure that children have safe and enjoyable play experiences, while teaching them the importance of the environment. The production of cheap plastic toys contributes significantly to plastic waste. Plastic waste causes land pollution, as it takes long time to decompose. The accumulation of plastic toys in landfills affects the soil fertility. Furthermore, the excessive amount of plastic waste in landfills releases harmful chemicals into the soil that contaminate groundwater. Thus, the growing environmental concerns among parents is expected to restrain the market in the coming years.
Emerging Opportunity- Growing Healthcare Infrastructure and Expenditure
Partnerships in the plastic block toy industry provide various opportunities, contributing to the market growth. Collaborations with popular TV shows, movies, or video game franchises often lead to increased sales. Brand collaborations create unique toy sets, creating excitement among both young and adult audience regarding those sets. Partnerships with educational institutions and STEM organizations lead to the development of plastic block toys boost learning. It enhances the educational value of toys and makes them increasingly appealing to educators and parents. Collaborations with renowned artists and designers are elevating the toy experience by bringing artistic perspectives to plastic blocks. Thus, increasing collaborations among brands, media franchise, and educational institutes are projected to provide new business prospects in the coming years.
Scope of the Report
The report on the Global Plastic Block Toy Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Plastic Block Toy Market– Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
By Number of Pieces (Under 100 Pieces, 100 to 200 Pieces, 200 to 400 Pieces, and Above 400 Pieces), By Age Group (1-2 Years, 3-5 Years, and Above 5 Year), By Distribution Channel (Online and Offline)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered
GigoToys; Mattel; Sluban; Startinal; The LEGO Group; Webby Toys; and ZURU
Based on number of pieces, the global plastic block toy market is divided into under 100 pieces, 100 to 200 pieces, 200 to 400 pieces, and above 400 pieces. The 100 to 200 pieces segment is expected to expand at a significant growth rate in 2023. A comparatively small number of pieces is manageable for young children, allowing them to grasp and handle the blocks easily. Additionally, a small number of pieces prevents overwhelming the kids and enabling them to focus on building simple structures to foster early spatial and motor skills. These block sets are usually recommended for children age from three years and above.
Based on age group, the global plastic block toy block market is segmented into 1-2 years, 3-5 years, and above 5 years. The above 5 years segment held a significant revenue share of the market in 2022. The plastic block toys promote science, technology, engineering, and mathematics (STEM) skills in the kids age between six to 14 years. These block toys encourage creativity, imagination, and problem-solving skills in kids. Moreover, these toys provide an opportunity for kids to engage in interactive and educational play, making them a versatile and entertaining choice for this age group.
Based on the distribution channel, the global plastic block toy market is bifurcated into online and offline. The online segment held significant share of the market in 2022, owing to rising consumer awareness, increased Internet connectivity, and the growing adoption of mobile internet devices. For instance, the number of individuals with access to the Internet in Europe has grown from 66.5% in 2010 to 91.5% in 2023. The online segment is growing rapidly, due to customer inclination toward buying toys through company websites and e-commerce sites.
In terms of region, the global Plastic Block Toy market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market, owing to increasing disposable incomes, a strong focus on educational STEM learning, and the popularity of creative building & construction toys among children in the region.
The market in Asia Pacific is projected to expand at a significant CAGR during the forecast period. The large regional population is a major driver of the market in the region. The adoption of traditional toys in schools is gaining traction. This is contributing to the demand for educational plastic block set toys in Asia Pacific.
Market Key Developments
In December 2023, Mattel partnered with Warner Bros. Pictures to release the BARBIE movie screenplay, published by Faber. The original screenplay of the film phenomenon written by Greta Gerwig and Noah Baumbach was published by Faber and is available for pre-sale. Available in print for the first time, the BARBIE screenplay features an exclusive introduction by Gerwig and Baumbach and eight pages of full-color photos from the film.
In October 2023, Mattel and Milestone Celebrate the Release of Hot Wheels Unleashed 2 – Turbocharged. Hot Wheels Unleashed 2 -Turbocharged, available for PlayStation 5, PlayStation 4, Xbox Series X|S, Xbox One, Nintendo Switch, and PC via Steam and Epic Games Store.
In July 2022, Sluban Europe B.V. released 37 building sets with themes such as the Powerbricks and Town and 6 sets in the sub-theme Mini Handcraft, such as the bedroom, living room, and kitchen. These sets can all be connected to each other.
Key Benefits for Industry Participants & Stakeholders
In-depth Analysis of the Global Plastic Block Toy Market
Historical, Current, and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Plastic Block Toy Market performance
By Number of Pieces
- Under 100 Pieces
- 100 to 200 Pieces
- 200 to 400 Pieces
- Above 400 Pieces
By Age Group
- 1-2 Years
- 3-5 Years
- Above 5 years
By Distributions Channel
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key Market Players Profiled in the Report
- The LEGO Group
- Webby Toys
Key players competing in the global plastic block toy market include GigoToys; Mattel; Sluban; Startinal; The LEGO Group; Webby Toys; and ZURU.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide. For instance, in November 2023, The LEGO Group unveiled the LEGO Ideas Orient Express, a brick recreation of one of the world’s most luxurious and legendary forms of travel. The LEGO Ideas Orient Express set features removable roofs to allow access to detailed interiors, 8 LEGO minifigures including the conductor, a chef, staff, and a variety of passengers that depict different passengers. Decorations of the destinations that the train visited on its original route are visible across the magnificent sets.