The global wooden toys market size was valued at USD 24 Billion in 2022 and is likely to reach USD 34.4 Billion by 2031, expanding at a CAGR of 3.90% during the forecast period, 2023–2031. The market growth is attributed to the rising adoption of wooden items to entertain and educate children.
Wooden toys are usually made from non-toxic materials, which makes them safe for application in kids’ development. Certain toys have sharp edges and are made of plastic among other toxic materials and chemicals. Wooden toys are often made from recycled sources, making them an eco-friendly & sustainable educational solution.
These toys are made of wood with special characters that allow children and young kids to learn about numbers, shapes, and sizes. Wooden toys are helpful for maintaining cognitive development in children.
The COVID-19 pandemic affected the market due to the prolonged shutdown of manufacturing units owing to the various preventive measures imposed by the government. Furthermore, a sharp decline in the demand for toys and the lack of raw materials supply due to the traveling restrictions, disrupted the supply chain.
Educational toys promote joy & comfort and teach them to cope with challenges. Construction toys help with motor skills development, problem-solving abilities, and hand-eye coordination.
Wooden Toys Market Dynamics
The global wooden toys market report has up-to-date insights that help in formulating a strategic roadmap about the estimated market scenario and performance from 2023 to 2031.
Drivers
All sorts of cultural communities around the world accept toys that help a child's cognitive, social, and linguistic learning while also providing enjoyment. A decline in positive consumer behavior towards traditional toys and games compared to the increasing popularity of wooden toys are some primary drivers of the market.
Wooden toys are safe for children due to their non-toxic nature. The interesting textures and colors of wooden toys are key factors that attract children’s attention. However, the wide availability of educational toys, the rising global population of children, and the increasing disposable income of parents are some vital factors driving the market.
Restraints
Fluctuations in raw material prices for wooden toys hinder the growth of the market in the coming years. Lack of timely supply of raw materials due to the strict environmental regulations towards deforestation driving up the cost of wood. These factors encouraged vendors to increase production costs, which further disrupted the supply chain of the market.
Opportunities
Increasing projects to reduce carbon footprints and promote environmental stewardship offers potential growth opportunities for market development. Excellent properties of wooden toys such as lightweight, bright colors, and high strength creates lucrative opportunities for market players.
The indulgence of children in smartphones and video games is considered a concerning issue to parents. However, wooden toys are projected to be a good alternative to this concern. Thus, market players are focusing on product innovation and development, which accelerates market growth.
Scope of Wooden Toys Market Report
The global wooden toys market research report 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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Wooden Toys Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Construction Sets, Dolls, Miniatures, Vehicles, Puzzles, Collectibles, and Others), Wood Type (Hardwood and Softwood), Age Group (0-12 months, 1-3 years, 3-5 years, 5-12 years, and Above 12 Years), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Hasbro Inc.; Westwork Designs; Melissa & Doug; Bajo; wood-expressions; The Wooden Wagon Inc.; ABAfactory; Roy Toy Manufacturing; Hape Toys; and Bella Luna Toys
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Wooden Toys Market Segment Insights
Product Segment Analysis
Based on product, the wooden toys market is segmented into construction sets, dolls, miniatures, vehicles, puzzles, collectibles, and others. The construction sets segment is projected to register a considerable CAGR during the forecast period due to the increasing demand from parents for the cognitive development of children.
Construction sets help in developing the kids’ brain capacity to learn about shapes and sizes. Additionally, it helps to improve motor skills and instill creativity & logical thinking in children along with entertaining them.
Wood Type Segment Analysis
On the basis of wood type, the wooden toys market is fragmented into hardwood and softwood. The hardwood segment is expected to expand at a significant growth rate during the projection period due to its durability. Hardwood has more patterns, strength, texture, and colors as compared to softwood. Rising demand for durable and better-quality toys fuels the segment’s growth.
Age Group Segment Analysis
Based on age group, the market is segregated into 0-12 months, 1-3 years, 3-5 years, 5-12 years, and above 12 years. The 1-3 years segment is expected to register a robust growth rate during the assessment period due to the growing adoption of wooden toys.
Children start developing their brains from toys at an early age, as it helps to educate. Moreover, 1-3 years of age is considered a perfect age for cognitive development, as the kids of this age group have a better understanding of the toys compared to the younger ones.
Distribution Channel Segment Analysis
On the basis of distribution channels, the market is categorized as supermarkets & hypermarkets, convenience stores, and others.The supermarkets & hypermarkets segment is projected to expand at a significant pace during the projected period owing to the ease of access and the wide availability of a variety of options, brands, material types, and price ranges in these stores. Additionally, the widespread number of supermarkets at a rapid pace increases the sales of wooden toys.
Regional Analysis
In terms of regions, the global wooden toys market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to dominate the market during the forecast period due to the presence of a majority of key players and a sizeable children population in the region.
Segments
The global wooden toys market has been segmented on the basis of
Product
- Construction Sets
- Dolls
- Miniatures
- Vehicles
- Puzzles
- Collectibles
- Others
Wood Type
Age Group
- 0-12 months
- 1-3 years
- 3-5 years
- 5-12 years
- Above 12 Years
Distribution Channel
- Supermarkets & Hypermarkets
- Convenience Stores
- Others
Region
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global wooden toys market are Hasbro Inc.; Westwork Designs; Melissa & Doug; Bajo; wood-expressions; The Wooden Wagon Inc.; ABAfactory; Roy Toy Manufacturing; Hape Toys; and Bella Luna Toys. The market report provides in-depth insights into growth strategies and development initiatives implemented by the key players in the market.
These major companies adopt various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share. For instance,
- In June, 2021- Melissa & Doug partnered with VIACOMCBS to launch PAW Patrol and Blue’s Clues & You toy collection.
- In August, 2020- Hape Toys partnered with Sugarobot to introduce Ningbo Yiling Education Technology Co., Ltd for the development of STREAM toys in the global industry.
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