Global Toys And Games Market Overview
Toys And Games Market Size was estimated at 120.99 (USD Billion) in 2022. The Toys And Games Market Industry is expected to grow from 126.61(USD Billion) in 2023 to 190.4 (USD Billion) by 2032. The Toys And Games Market CAGR (growth rate) is expected to be around 4.64% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Toys And Games Market Trends Highlighted
The Toys and Games market continues to evolve, driven by technological advancements and the increasing popularity of licensed and branded products. Consumers are seeking immersive and interactive experiences, leading to the rise of smart toys, virtual reality games, and augmented reality games. Digital distribution platforms are gaining traction, allowing players to access games on multiple devices.Key market drivers include the growing disposable income in emerging markets, the increasing number of children, and the popularity of video games. Opportunities to be explored include expanding into new markets, developing innovative products that meet changing consumer preferences, and leveraging digital technologies to enhance the gaming experience.Recent trends in the Toys and Games market include the incorporation of AI and machine learning, the emergence of cloud gaming, and the growing popularity of subscription-based gaming models. As technology continues to advance, it is expected that the Toys and Games market will see further innovation and growth, creating opportunities for manufacturers and retailers alike.
Toys And Games Market Drivers
Rising Disposable Income and Changing Lifestyles
The rise in consumers' disposable income levels, especially in emerging markets, contributes to the increase in spending on toys and games. Changes in customers' lifestyles, such as a higher number of working parents and single parents, also have a significant effect on driving the demand for toys and games that provide entertainment and educational value. As such, over the following years, the Toys And Games Market Industry is expected to grow considerably because of the increasing disposable income and changing lifestyles of customers.
Technological Advancements and Innovation
The rapid advancements in technology have had a major impact on the toys and games industry. The integration of technology into toys has led to the development of new and innovative products that provide immersive and interactive experiences for children. The Toys And Games Market Industry is expected to benefit from continued technological advancements and innovation in the coming years.
Growing Popularity of Educational Toys
There has been a growing emphasis on educational toys that can help children develop cognitive skills, problem-solving abilities, and creativity. Parents are increasingly seeking toys that can provide both entertainment and educational value to their children. The Toys And Games Market Industry is expected to see a rise in demand for educational toys in the future.
Toys And Games Market Segment Insights
Toys And Games Market Age Group Insights
The Age Group segment is one of the most potent in defining the overall landscape of the Toys And Games Market. Ranging from infants to pre-retirement adults, the members of an age group exhibit distinct behaviors that determine the market's growth and segmentation patterns. Listed below are the existing age groups Infants and Toddlers 0-3 years_ Projected to reach USD 35.62 billion by 2024, this segment has possibly the greatest potential and is willing to explore toys that facilitate early learning, sensory development, and motor skills.Soft and interactive toys, building and counting blocks with different shapes and textures, as well as large puzzles, cater to the greatest demand. Preschool 3-5 years_ Character-themed toys and accessories and action figures and figurines constitute the largest part of Toys And Games Market revenue. And the tendency to engage in role-playing games increases. Painting sets and dolls, animals, characters and monsters allow the children to express their ideas and imaginations and to share these in groups. School-Aged 6-12 years_ Construction toys, e.g.Block marble runs, building and construction sets, multiple science kits with any of the scientific disciplines involved, and toy video games are growing more popular. Children start asserting their independence and form distinct interests. Educational toys for STEM learning and boosting cognitive skills are also in high demand. Teenagers 13-18 years_ This segment's character is described by constantly changing demands and shifting to more complex and technology-based toys. Collectable heroes and figurines, mobile and video game consoles may be of interest to teenagers, who need toys to satisfy their social and emotional needs.Makeup artist sets, fashion dolls, construction sets, and electric and programmed toys are becoming the most popular in this segment. Adult 19+ years_ This segment remains highly underestimated, although the adult population has every potential to develop. Wooden toys, collectibles and puzzles, and old-fashioned board games tend to be the most popular among the adult population.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Toys And Games Market Toy Category Insights
The Toy Category segment of the Toys And Games Market is expected to account for a significant share of the overall market revenue in 2023 and is projected to continue its growth trajectory in the years to come. This segment encompasses a wide range of product categories that cater to diverse age groups and interests, including Action Figures and Playsets, Dolls and Accessories, Building Sets, Board Games and Card Games, Ride-On Toys, Educational Toys, Arts and Crafts, Electronic Toys, Outdoor Toys, and Sporting Goods Toys. The Action Figures and Playsets category holds a substantial portion of the market, driven by the popularity of superhero and movie-themed toys.Dolls and Accessories also remain a popular choice, particularly among younger children. Building Sets, such as those from LEGO, foster creativity and problem-solving skills, contributing to their strong market presence. Board Games and Card Games offer entertainment and social interaction, making them a staple in many households. Ride-On Toys, including tricycles and scooters, cater to the active and adventurous nature of children and contribute to their physical development. Educational Toys designed to enhance cognitive skills and knowledge are gaining traction as parents seek to incorporate learning into playtime.Arts and Crafts supplies enable children to express their creativity and imagination. Electronic Toys, incorporating technology and interactivity, have become increasingly popular in recent years, with video games and interactive dolls leading the charge. Outdoor Toys, such as swings and slides, promote physical activity and encourage children to spend time outdoors. Sporting Goods Toys, including balls, bats, and toy vehicles, tap into children's interest in sports and active play. The Toys And Games Market is highly competitive, with established players and emerging brands vying for market share.Continuous innovation, product differentiation, and strategic partnerships are key factors driving growth in the Toy Category segment.
Toys And Games Market Material Insights
The Toys And Games Market segmentation by Material includes Plastic, Wood, Metal, Fabric, and Electronic Components. Plastic is the most widely used material in the toys and games industry due to its versatility, low cost, and durability. Its ability to be molded into various shapes and colors makes it suitable for a wide range of toys. Wood, on the other hand, offers a classic and natural aesthetic, often used in educational toys and building blocks. Metal, known for its strength and durability, is commonly employed in toy vehicles, action figures, and collectible items.Fabric, with its soft and tactile nature, is ideal for plush toys, dolls, and stuffed animals. Electronic Components, including batteries, motors, and sensors, play a crucial role in interactive and educational toys, enhancing their functionality and appeal. This growth can be attributed to rising disposable income, increasing urbanization, and technological advancements in the toys and games industry.
Toys And Games Market Educational Value Insights
The Educational Value segment of the Toys And Games Market is projected to grow significantly over the forecast period, driven by increasing demand for toys that promote cognitive and developmental skills. STEM Skills toys, a key sub-segment, are expected to witness a surge in popularity as parents and educators recognize their importance in preparing children for future careers in science, technology, engineering, and mathematics. Creativity toys, another major sub-segment, are also anticipated to gain traction as they foster imagination, self-expression, and problem-solving abilities.Furthermore, Problem-Solving and Social-Emotional Development toys are projected to make notable contributions to the segment's growth as they enhance critical thinking, empathy, and interpersonal skills. This segment's growth is fueled by rising parental awareness about the developmental benefits of educational toys and the increasing availability of innovative and engaging products.
Toys And Games Market Price Range Insights
The Price Range segment plays a crucial role in shaping the Toys And Games Market landscape. In 2023, the 'Under $20' price range emerged as the dominant segment, capturing a significant market share of around 45%. This segment caters to budget-conscious consumers seeking affordable options for their children. The '$20-$50' price range follows closely, accounting for approximately 30% of the market. This segment offers a wider selection of toys and games with enhanced features and quality, appealing to a broader consumer base. The '$50-$ 100 price range holds a substantial market share of 15%, driven by the demand for premium toys and games with advanced functionalities and innovative designs.This segment targets consumers willing to invest in high-quality play experiences for their children. The '$100-$200' price range accounts for around 7% of the market, catering to discerning consumers seeking exceptional toys and games with superior craftsmanship and educational value. The 'Over $200' price range, though representing a smaller market share of approximately 3%, caters to a niche segment of consumers looking for exclusive and highly collectible toys and games.
Toys And Games Market Regional Insights
The Toys And Games Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest regional market. The region is home to some of the world's largest toy companies, such as Hasbro and Mattel. Europe is the second largest regional market. The region has a large population of children and a strong tradition of toy playing. APAC is the third largest regional market. The region is experiencing rapid economic growth, which is driving demand for toys and games. South America is the fourth largest regional market.The region is home to a large population of children and a growing middle class. MEA is the fifth largest regional market. The region is experiencing rapid economic growth, which is driving demand for toys and games.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Toys And Games Market Key Players And Competitive Insights
Major players in the Toys And Games Market industry are constantly striving to gain a competitive edge in the market. Leading Toys And Games Market players are focusing on innovation, product development, and strategic partnerships to enhance their market position. The Toys And Games Market industry is characterized by intense competition, with companies vying for market share through various strategies such as product differentiation, pricing, and distribution channels. Toys And Games Market development is influenced by factors such as changing consumer preferences, technological advancements, and regulatory policies.Hasbro, a leading player in the Toys And Games Market industry, has a strong portfolio of iconic brands, including Transformers, Monopoly, and Play-Doh. The company has a presence and leverages its distribution network to reach a wide customer base. Hasbro focuses on product innovation and licensing partnerships to stay ahead in the competitive landscape. It also invests in digital platforms and experiences to engage with consumers.Mattel, a competitor to Hasbro in the Toys And Games Market industry, is known for its popular brands such as Barbie, Hot Wheels, and Fisher-Price. The company has a strong focus on brand building and licensing, and it leverages its distribution network to reach consumers worldwide. Mattel invests in product development and innovation to cater to evolving consumer preferences and market trends. The company also explores partnerships and acquisitions to strengthen its portfolio and expand its reach.
Key Companies in the Toys And Games Market Include
- Hasbro Canada
- Mega Brands
- Hasbro
- Epoch Co.
- Ravensburger
- JAKKS Pacific
- Bandai Namco
- Funko
- Mega Bloks
- Mattel
- The LEGO Group
- VTech
- TOMY
- MGA Entertainment
- Spin Master
Toys And Games Market Industry Developments
The Toys and Games market is projected to reach a value of USD 190.4 billion by 2032, exhibiting a CAGR of 4.64% during the forecast period (2024-2032). The market growth is attributed to factors such as rising disposable income, increasing birth rates in developing countries, and the growing popularity of educational toys.Recent news developments in the market include the acquisition of Hasbro by Mattel, the launch of new product lines by Lego, and the increasing popularity of online toy sales. Key market players are focusing on innovation and product development to cater to the evolving needs of consumers.
Toys And Games Market Segmentation Insights
Toys And Games Market Age Group Outlook
- Infant and Toddler
- Preschool
- School-Aged
- Teenager
- Adult
Toys And Games Market Toy Category Outlook
- Action Figures and Playsets
- Dolls and Accessories
- Building Sets
Board Games and Card Games
- Ride-On Toys
- Educational Toys
- Arts and Crafts
- Electronic Toys
- Outdoor Toys
- Sporting Goods Toys
Toys And Games Market Material Outlook
- Plastic
- Wood
- Metal
- Fabric
- Electronic Components
Toys And Games Market Educational Value Outlook
- STEM Skills
- Creativity
- Problem-Solving
- Social-Emotional Development
Toys And Games Market Price Range Outlook
- Under $20
- $20-$50
- $50-$100
- $100-$200
- Over $200
Toys And Games Market Regional Outlook
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North America
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Europe
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South America
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Asia-Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
120.99(USD Billion) |
| Market Size 2023 |
126.61(USD Billion) |
| Market Size 2032 |
190.4(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.64% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2022 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Hasbro Canada, Mega Brands, Hasbro, Epoch Co., Ravensburger, JAKKS Pacific, Bandai Namco, Funko, Mega Bloks, Mattel, The LEGO Group, VTech, TOMY, MGA Entertainment, Spin Master |
| Segments Covered |
Age Group, Toy Category, Material, Educational Value, Price Range, Regional |
| Key Market Opportunities |
Digital Toys and Games Educational Toys EcoFriendly Toys Personalized Toys SubscriptionBased Toy Services |
| Key Market Dynamics |
Increased disposable income Rising birth rate Technological advancements Growing popularity of video games Focus on educational and developmental toys. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Toys And Games Market is expected to reach a valuation of 126.61 billion USD in 2023.
The Toys And Games Market is projected to grow at a CAGR of 4.64% from 2024 to 2032.
The Asia-Pacific region is expected to hold the largest market share in the Toys And Games Market in 2023.
The key factors driving the growth of the Toys And Games Market include rising disposable income, increasing urbanization, and the growing popularity of online retail.
The major players in the Toys And Games Market include The Walt Disney Company, Mattel, Inc., Hasbro, Inc., LEGO Group, and Bandai Namco Holdings Inc.
The different types of toys and games available in the market include action figures, dolls, board games, video games, and puzzles.
The Toys And Games Market is segmented by type, age group, and distribution channel.
The key trends in the Toys And Games Market include the growing popularity of STEM toys, the increasing use of technology in toys, and the growing demand for sustainable toys.
The challenges facing the Toys And Games Market include rising costs, increasing competition, and changing consumer preferences.
The future outlook for the Toys And Games Market is positive, with continued growth expected in the coming years.
