The global toys and games market is expected to register a high CAGR during the forecast period, between 2021 and 2028. Toys and games play a significant role in social life. Toys and games include a variety of objects that include dolls, rattles, and toy automobiles, as well as board games, skipping ropes, and jigsaw puzzles. Toys play an important role in brain development since they contribute to the development of reasoning and logical skills, as well as spatial reasoning skills. They have an intrinsic worth that contributes to children's entire development. Toys allow youngsters to express themselves creatively and emotionally. Games, on the other hand, improves cognitive and de-stress, social, and physical skills. Playing with toys and board games also helps children learn while developing communication and social skills.
Market Trends, Drivers, Restraints, and Opportunities:
- Increase in demand for tactic-based and educational toys among children drives the expansion of the toys and games market.
- Growing awareness of mental skills games for youngsters is estimated to drive the growth of the market.
- Rising preference for scientific and educational toys, coupled with rising personnel disposable income levels, is expected to be a powerful catalyst for the global toys and games market.
- The acceptance of free-to-play gaming and the growing requirement for eco-friendly toys are boosting the demand for toys and games.
- Exchange rate fluctuations and high pricing can hinder toys and games market expansion.
- Increasing adoption of smartphones and tablets, as well as the increased preference for online gaming, are expected to provide profitable opportunities for the market trends.
Scope of the report:
The report on the toys and games market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Toys and Games Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast
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Base Year
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2020
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Historic Data
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2018 & 2019
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Forecast Period
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2021–2028
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Segmentation
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Product Types (Construction Toys, Dolls & Accessories, Electronics & Video Games, Games & Puzzles, Outdoor & Sports Toys, Preschool Toys, and Others), Age Group (15 Years & Above, 9-15 Years, and 0-8 Years), Distribution Channels (Online and Offline)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Key Players Covered in the Report
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BANDAI NAMCO Entertainment Europe S.A.S, Microsoft, Nintendo, NetEase, Inc., Sony Interactive Entertainment Inc., JAKKS Pacific, Inc., Playmates Toys Limited, Mattel, Dream International Limited, Hasbro, VTech Holdings Limited, LEGO System A/S, and Konami Holdings Corporation
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Toys and Games Market Segment Insights:
Electronic & video games segment is projected to hold significant market share
Based on product types, the toys and games market can be fragmented into construction toys, dolls & accessories, electronics & video games, games & puzzles, outdoor & sports toys, preschool toys, and others. The electronic & video games segment is projected to hold significant market share owing to rising consumer expenditure on video content, video game tournaments, and virtual reality objects. Technological improvements, as well as the increased adoption of diverse software such as IoT and AI processors, are improving game quality and drawing more customers. The segment is expanding at an exponential rate due to factors such as the rise of online and mobile gaming and the shift from physical to digital software delivery.
15 years & above segment is anticipated to account for a substantial share
On the basis of age groups, the market can be segregated into 15 years & above, 9-15 years, and 0-8 years. The 15 years & above segment is anticipated to account for a substantial share. Families in industrialized economies are increasingly acquiring interactive, educational, and multi-functional toys to aid in the development of their children. Aside from youngsters, adult consumers are likely to drive toy and game sales. The rising demand for video games and action figures is a major driver of the segment expansion. Furthermore, the video game market is growing at a rapid pace, which can have a favourable impact on the whole business.
Offline segment to register a substantial growth rate during the forecast period
In terms of distribution channels, the toys and games market can be bifurcated into online and offline. The offline segment is expected to register a substantial growth rate during the forecast period. Increased product visibility in supermarkets and hypermarkets has boosted the offline segment.
Asia Pacific is expected to dominate the market
In terms of regions, the market can be categorized as Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market. Companies in Asia Pacific is a large supplier of raw materials and products. Furthermore, rising customer disposable income and growing number of retail outlets is estimated to drive the product demand. Rising demand from emerging countries such as India and Singapore is driving the market. The product's demand is being boosted by the growing commercial and industrial sectors.
Segments
By Product Types
- Construction Toys
- Dolls & Accessories
- Electronics & Video Games
- Games & Puzzles
- Outdoor & Sports Toys
- Preschool Toys
- Others
By Age Groups
- 15 Years & Above
- 9-15 Years
- 0-8 Years
By Distribution Channels
By Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
By Key Players
- BANDAI NAMCO Entertainment Europe S.A.S
- Microsoft
- Nintendo
- NetEase, Inc.
- Sony Interactive Entertainment Inc.
- JAKKS Pacific, Inc.
- Playmates Toys Limited
- Mattel
- Dream International Limited
- Hasbro
- VTech Holdings Limited
- LEGO System A/S
- Konami Holdings Corporation
Competitive Landscape
Key players in the toys and games market are BANDAI NAMCO Entertainment Europe S.A.S, Microsoft, Nintendo, NetEase, Inc., Sony Interactive Entertainment Inc., JAKKS Pacific, Inc., Playmates Toys Limited, Mattel, Dream International Limited, Hasbro, VTech Holdings Limited, LEGO System A/S, and Konami Holdings Corporation. These players have widely engaged in various business development strategies such as collaborations, agreements, mergers & acquisitions, production capacity expansion, new product launches, and partnerships to increase their market share.
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