The Global Market for Toys and Games is Projected to Reach US$166.2 Billion by 2024

Innovation & New Product Launches Drive the Global Toys and Games Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share and demand forecasts on the global Toys and Games market. The global market for Toys and Games is projected to reach US$166.2 billion by 2024, driven by relentless product innovation, launch of new games and toys and growing online presence.

Toys and games market is typified by relatively maturity and seasonality, yet an evolving one. Developed markets are relatively mature, with future growth emanating from emerging markets, although considerable variations emerge at individual segment level. Product prices, economic environment, innovation and new product launches and new licenses define the course of market growth. Factors such as growing population of children, improving economic growth, rising incomes in developing markets, perennial innovation and product development, and changing distribution structure are driving the global market for toys and games. With competition intensifying, the growing general disenchantment of children towards toys makes and the shift towards video and online games is driving the need for continuous product innovation and expansion of presence in various product segments an imperative for toy manufacturers. With such focus growing, manufacturers are increasingly incorporating engaging technologies in a wide range of new toys and games launched thereby enhancing conventional play patterns and rolling out innovative new toys.

Increasing popularity of collectibles, the shift towards healthy living, rising demand for high-priced toys and sustained penchant for new products are fueling market growth. Demand for dolls and Action figures is driven by innovation and introduction of new product lines in line with consumer preferences. Influx of new players and emergence of new construction sets for kids of all age groups are driving demand for Activity/Construction Toys. The emerging trend towards healthy living, as people tend to get outdoors and lead a more active/healthy lifestyle, further bodes well for Outdoor toys and sports toys. Licensing partnerships is a growing trend in the market, and manufacturers are increasingly competing for toy licenses from movies and television shows. Demand for collectibles is also in the rise, and is likely to extend beyond expensive, licensed toys with different play functions or intricate details for passionate toy collectors. A major trend in the market is the increasing shift presence in the online retail channel, as online purchases continue to increase with growing usage of mobile phones and rising internet penetration. While traditional retail channels still dominate, online retail is witnessing fast growth across several markets. Social media platforms are also contributing for augmenting toy sales globally. Social media channels are enabling retailers to find and connect with potential buyers from all over the world.

As stated by the new market research report on Toys and Games, Europe represents the largest market worldwide. Latin America ranks as the fastest growing market with a CAGR of 9.6% through the analysis period. Increasing disposable incomes, growing penchant for new toys and growing online purchases are some of the factors driving growth in region. Dolls/Action Figures represents the largest segment, while Activity/Construction Toys are forecast to spearhead growth.

Major players in the market include Dream International Limited, Hasbro Inc., Integrity Toys Inc., JAKKS Pacific Inc., K’NEX Limited Partnership Group, LEGO Group, Mattel Inc., Fisher-Price Inc., MEGA Brands Inc., MGA Entertainment Inc., NAMCO BANDAI Holdings Inc., Playmates Toys Inc., Ravensburger AG, Sanrio Company Ltd., Tarata Toys Ltd., TOMY Company Ltd., VTech Holdings Limited and LeapFrog Enterprises Inc., among others.

The research report titled “Toys and Games: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for Toys and Games in value terms for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico and Rest of Latin America). Product Types analyzed include Games/Puzzles, Infant/Preschool, Activity/Construction Toys, Dolls/Action Figures, Vehicles/Ride Ons, Soft/Plush Toys and Others.

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