Educational Toys Market

• Increasing popularity of smart toys is driving the market growth

Internet-connected educational toys with high-tech advances are becoming increasingly popular among an expanding population of tech-savvy consumers. A smart toy operates through embedded sensors and on-board electronics and has its own intelligence. Despite their high costs, smart toys are favoured above other learning toys for their ease of use and tailored instructive approach. The increased acceptance of these smart toys is projected to produce a strong demand for Science, Technology, Engineering and Math (STEM) toys worldwide over the forecast timeframe. STEM toys are designed to promote the problem solving skills and creativity in youngsters in an intriguing and engaging manner.

With a rising number of parents focusing on making their children future-ready by purchasing smart toys, STEM toys are likely to witness a robust over the forecast period.

Government support within the toy manufacturing market is projected to encourage industry expansion over the projection timeframe. Led by India, the worldwide market is likely to witness significant government support across countries, with an increased desire to enhance local toy manufacturing and increase usage. For instance, in February 2020, the Government of India (Gol) approved the construction of eight toy clusters in the states of Madhya Pradesh, Rajasthan, Tamil Nadu, Uttar Pradesh, and Karnataka. This measure demonstrates the government's goal to develop the local toy manufacturing sector in the foreseeable future.

Learning and educational toys are a type of toys that play a key part in the growth and development of children. They are vital for brain growth as studying educational toys acquire logical and reasoning skills and facilities to get spatial reasoning. Playing with toys and board games aids children in learning and building social and communication skills. The increasing demand for strategy-based & educational-based toys among children supports the growth of the learning and Educational Toy Market.

Trending variables such as new artificial intelligence toys for S.T.E.M (science, technology, engineering, and mathematics) education, growing 3D shapes in toy designs, and surging green educational and eco-friendly toys will drive the Educational Toy Market globally in the following years. Moreover, the rising range of online consumers is a driving factor for the Educational Toy Market during the forecast period all throughout the globe.

Developments in the childcare sector and the discovery of new technology are the key drivers that drive the growth of the industry. The availability of new digital and Al quality educational toys is the cause to promote the expansion of the worldwide Educational Toy Market. There is an upsurge in demand for toys with innovative functionalities. Thus, driving the Educational Toys market revenue.

The rise in disposable income across various regions contributes to the expansion of the Global Educational Toys Market Industry. As families experience improved financial stability, they are more inclined to invest in high-quality educational toys that offer long-term benefits for their children. This trend is particularly evident in emerging markets, where increasing income levels enable parents to prioritize educational products. The anticipated compound annual growth rate of 10.5% from 2025 to 2035 indicates a robust market trajectory, driven by consumer willingness to spend on educational toys that enhance learning experiences. This shift in consumer behavior is likely to shape the future landscape of the industry.

The Global Educational Toys Market Industry experiences a notable increase in demand for STEM (Science, Technology, Engineering, and Mathematics) toys. Parents and educators recognize the importance of fostering critical thinking and problem-solving skills in children. This trend is reflected in the projected market value of 79.8 USD Billion in 2024, as families increasingly invest in educational toys that promote these essential skills. Companies are responding by developing innovative products that align with educational standards, thereby enhancing children's learning experiences. The emphasis on STEM education is likely to drive further growth in this segment, contributing to the overall expansion of the Global Educational Toys Market Industry.

The Global Educational Toys Market Industry is influenced by a growing focus on holistic child development. Parents and educators are increasingly aware that learning extends beyond academics, encompassing social, emotional, and physical growth. This perspective drives demand for educational toys that promote a well-rounded development approach. Toys that encourage collaboration, creativity, and emotional intelligence are gaining popularity, as they align with contemporary educational philosophies. As the market evolves, products that cater to these diverse developmental needs are likely to see increased adoption, reflecting a shift towards comprehensive educational experiences for children.

Technological advancements play a pivotal role in shaping the Global Educational Toys Market Industry. The integration of augmented reality, artificial intelligence, and interactive features into educational toys enhances engagement and learning outcomes for children. For instance, toys that utilize augmented reality can provide immersive learning experiences, allowing children to explore complex concepts in a fun and interactive manner. This trend is expected to contribute to the market's growth, as parents seek innovative solutions that combine play with education. As the industry evolves, the incorporation of technology into educational toys may lead to a more dynamic and engaging learning environment for children.

There is a growing awareness of the significance of early childhood education, which positively influences the Global Educational Toys Market Industry. Parents and educators are increasingly recognizing that the formative years are crucial for cognitive and social development. This awareness drives demand for educational toys that support early learning objectives. As a result, the market is projected to reach 239.3 USD Billion by 2035, reflecting the increasing investment in products that promote foundational skills. Educational toys that encourage creativity, social interaction, and problem-solving are particularly sought after, as they align with the goals of early childhood education initiatives.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Educational Toys market dominated this market in 2022 (45.80%). A sizable client base is what propels the regional market. The Asia Pacific market has been witnessing significant developments in the toys space over the years. In August 2020, the Government of India (Gol) stated its goal to build India into a global toy hub. Such initiatives will encourage other countries to enhance their domestic learning & education toys manufacture.

Moreover, China’s Educational Toys market held the largest market share, and the Indian Educational Toys market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: EDUCATIONAL TOYS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

The North America Educational Toys Market is expected to register significant growth from 2023 to 2032. The North America market is primarily driven by the increasing levels of demand from consumers/shoppers and merchants alike for 'Made in USA' learning & education products. Further, the U.S. Educational Toys market held the largest market share, and the Canada Educational Toys market was the fastest growing market in the North America region.

Europe Educational Toys market accounted for the healthy market share in 2022. The market for educational toys in Europe is expanding as a result of the growing acceptance of green and ecologically friendly items. Due to the health risks/problems linked with synthetic materials, educators and parents in the region, led by nations like the U.K. and Germany, are expected to contribute to the adoption of greener products. Further, the German Educational Toys market held the largest market share, and the U.K Educational Toys market was the fastest growing market in the European region

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Educational Toys market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Educational Toys Industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Educational Toys Industry to benefit clients and increase the market sector. In recent years, the Educational Toys Industry has offered some of the most significant advantages to medicine. Major players in the Educational Toys market, including Mega Home Appliances, Big Ass Fans, Hunter Fan Company, Crompton Greaves, and Del Mar Fans & Lighting, are attempting to increase market demand by investing in research and development operations.

In order for all children to discover themselves, their interests, and their purpose, Melissa & Doug produces educational toys and children's goods that spark their curiosity and sense of wonder. Through independent, big-box, and e-commerce retail channels, the company sells toys for babies and toddlers, puzzles, stuffed animals, arts and crafts supplies, and educational toys throughout the United States. A U.S.-based firm named Melissa & Doug introduced Timeless Toys in June 2021 with the goal of reaching more parents and introducing them to its items through digital channels like Hulu, YouTube, and Amazon.

For the casino, interactive, and gaming industries, Everi Holdings Inc. offers entertainment and technological solutions. Both the Games and Financial Technology Solutions (FinTech) segments make up its business. Gaming technology products and services from Enveri Games include gaming machines, slot machines, leased gaming equipment, as well as other goods and services for gaming operators. Enveri FinTech offers financial technology products and services to gambling operators, including tools and services that make it easier for casino visitors to acquire cash at gaming facilities through ATMs, point-of-sale debit card purchases, and other methods.

For an undisclosed sum in January 2022, Atlas Gaming Pty Ltd and Atlas Gaming Technologies Pty Ltd have agreed to sell some of their assets, including their intellectual property and game development technology, to Everi Holdings Inc., a US-based provider of land-based and online casino gaming content and products.