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Toys Market Outlook, Industry Size, Growth Factors, Demand, Report 2024-2032

The changing consumer preferences, increasing investment on quality and educational toys, significant technological advancements, growing parental awareness about the importance of toys, and the pursuit of innovation are some of the major factors propelling the market.
Published 08 December 2023

According to IMARC Group latest report titled “Toys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on toys market share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

The global toys market size reached US$ 183.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 326.0 Billion by 2032, exhibiting a growth rate (CAGR) of 6.5% during 2024-2032.

Toys are objects designed for play, entertainment, and education, typically intended for children.

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Factors Affecting the Growth of the Global Toys Industry:

  • Growing Emphasis on Educational Toys:

There is a growing emphasis on educational toys that promote learning while playing. Parents and caregivers are increasingly recognizing the value of toys that enhance cognitive, motor, and social skills in children. This trend is driven by a desire to provide children with stimulating and educational experiences from an early age. Educational toys often incorporate elements of science, technology, engineering, and mathematics (STEM) to prepare children for the digital age. Manufacturers are responding by developing toys that align with educational objectives, fostering creativity, problem-solving, and critical thinking skills in children.

  • Digital Marketing and E-commerce:

The rise of digital marketing and e-commerce platforms has significantly impacted the toys market. Online advertising, social media promotion, and influencer marketing play a crucial role in driving consumer awareness and demand for toys. Additionally, e-commerce platforms have made it convenient for consumers to browse and purchase a wide variety of toys, often with fast delivery options. The global reach of online marketplaces allows toy manufacturers to expand their customer base beyond traditional geographic boundaries. The convenience of online shopping and the ability to read reviews and compare products contribute to the growth of the toys market, especially during peak shopping seasons and holidays.

  • Technological Advancements:

Technological advancements are a significant driving force in the toys market. The integration of cutting-edge technologies such as augmented reality (AR), virtual reality (VR), and smart sensors into toys has transformed the industry. These innovations enhance the interactive and educational aspects of toys, making them more engaging for children. For instance, smart toys can provide personalized learning experiences and interactive storytelling, which are attractive to both children and parents. As technology continues to evolve, toy manufacturers are constantly innovating to create products that capture the imagination of young consumers, driving growth in the market.

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Toys Market Report Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Clementoni Spa
  • Funskool Ltd.
  • Hasbro Inc.
  • Lego A/S (Kirkbi A/S)
  • Mattel Inc.
  • Playmobil (Brandstätter Group)
  • Pressman Toy Corporation (Goliath B.V.)
  • Simba Dickie Group
  • Spin Master
  • Talicor Inc.
  • Thinkfun Inc. (Ravensburger North America Inc.)
  • Tomy Company Ltd

By Product Type: 

  • Action Figures
  • Building Sets
  • Dolls
  • Games and Puzzles
  • Sports and Outdoor Toys
  • Plush
  • Others

Outdoor and sports toys hold the largest market share as they encourage children to engage in active play, fostering physical development and well-being.

By Age Group:

  • Up to 5 Years
  • 5 to 10 Years
  • Above 10 Years

5 to 10 years accounted for the largest market share as this age range is crucial for cognitive and physical development, during which children are highly receptive to learning through play.

By Sales Channel:

  • Supermarkets and Hypermarkets
  • Specialty Stores
  • Department Stores
  • Online Stores
  • Others

Specialty stores account for the largest market share as they offer a curated selection of toys, often focusing on specific categories or niches, catering to diverse customer demands. 

By Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

North America leads the market due to high disposable income levels and rising parental concerns.

Global Toys Market Trends:

The incorporation of advanced technology into toys continues to be a dominant trend. Toys featuring augmented reality (AR), virtual reality (VR), and interactive apps provide immersive and educational experiences for children. Smart toys that connect to smartphones and tablets for interactive play are gaining popularity. In addition, the industry is moving toward more inclusive and gender-neutral toys. Companies are challenging traditional gender stereotypes by offering toys that appeal to all children, regardless of gender. This trend encourages creativity and diversity in play. Besides, licensing agreements with popular entertainment franchises, movies, and TV shows remain a strong trend. Toys featuring characters from beloved films and series continue to drive sales and demand. Iconic franchises like Star Wars, Marvel, and Disney are consistently popular.

Key highlights of the report:

  • Market Performance (2018-2023)
  • Market Outlook (2024-2032)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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