Gurugram, India, Aug. 16, 2023 (GLOBE NEWSWIRE) -- $2.1Bn Import-Driven Market with Huge Potential. Dominated by China at 72.2%, driven by growing e-commerce, retail, and 9 Mn young population. Major players like Lego enter despite regulations, unveiling untapped opportunities. In this article, we uncover the market space as a whole. Read below to know more.
Storyline
- KSA's toy market experiences demand surge from online shopping and global players.
- Regulations post-2007 don't deter major brands' entry or expansion.
- Distributors play a vital role in industry growth.
- As per Ken Research, collaborative ecosystem drives innovation and reach in KSA toy market.
The distribution of toys imported by KSA from leading global toy exporters, when considered in terms of revenue proportion, showcases the following breakdown:
- Italy: accounting for 5.9% of the total revenue
- United Kingdom: contributing 3.5% to the revenue share
- United States: encompassing 5.4% of the revenue distribution
- Germany: constituting 1.1% of the revenue allocation
- China: dominant in its contribution with a substantial 72.2% of the total revenue
This distribution reflects the diverse and international nature of toy sourcing for KSA, with China emerging as a predominant player due to its overwhelming share in the revenue breakdown.
1. Unleashing Imagination: The Evolution of KSA Toy Market - A Timeline of Distributor & Player Entry.
1975 - Al Zaid Al Qureshi and Brothers company has presence in a number of sectors in KSA and GCC region.
1975 - SAMACO Toys and Leisure is part of Al Nahla Group, the Saudi family group since the 1930s.
1980 - A Liusie General Trading Company is a leading distributor of 100+ brands across entire Middle East.
1983 - A leader supplier of Premium Stationery and Toys in Saudi Arabia.
1991 - Toy Triangle is a leading toy developer and distributer that has been operating successfully for over 30 years.
1994 - Assets Orient Co. is the parent company of Child Toy. They are involved in wholesale and retail business of toys.
2008 - ESAL operates in 10 countries across the Middle East, China & Turkey, via 11 offices & distribution centers.
2018 - Toys Brand Trading Company is one of the Saudi Arabian leading corporations in the domain of children toys sales and distribution of wide range of international trademarks and brands.
2019 - Happy time for Toys Kids Est. is a distributor of “Hasbro” toys across Kingdom. “Habsro” is the second largest toy manufacturer in the world.
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The Toy Market in the Kingdom of Saudi Arabia (KSA), once characterized by a limited number of participants until the early 2000s, underwent a notable transformation marked by a surge in demand, primarily attributed to the increasing popularity of online shopping and the entry of global players into this market segment. Notably, significant regulatory measures that were initiated post-2007, including the introduction of the 'G-mark conformity certificate,' surprisingly yielded relatively modest effects on the intentions of major brands to explore avenues for market expansion or entry.
An intriguing facet of this market evolution is the pivotal role played by distributors, who have emerged as key drivers in propelling the growth trajectory of the toy industry within the region. This prominence is underscored by the noteworthy contribution of nine distinct distributors over the course of years, whose collective impact is evidenced by the substantial distributor margin, which as of 2022, remained notably high, ranging between 50-60% on FOB (Free on Board) basis.
The evolution of KSA's Toy Market presents a multifaceted narrative, characterized by a shift from a constrained participant landscape to a dynamic one, fueled by the digital commerce wave and the entrance of globally recognized entities. Furthermore, the regulatory landscape, though introducing pivotal standards, showcased intriguing dynamics in relation to their influence on major industry players. In the midst of these changes, the role of distributors has emerged as a cornerstone, contributing significantly to the industry's advancement and underpinning its noteworthy growth trajectory.
2. GCC Regulations and Collaborative Distribution: Driving Innovation and Reach in KSA Toy Market
The market ecosystem of KSA's toy industry is composed of four key player segments: manufacturers, distributors, regulatory authorities, and retailers. With over 1,000 manufacturers, the industry offers a diverse range of toy production capabilities. Distributors, numbering more than 10, play a crucial role in efficiently distributing toys from manufacturers to retailers. Regulatory authorities enforce standards and regulations to ensure toy safety and compliance. Retailers, with over 2,000 establishments, serve as the primary point of sale, offering a wide variety of toys to consumers. The regulatory mechanism implemented by authorities directly impacts the operations of all segments, ensuring the availability of safe and high-quality toys. This collaborative ecosystem shapes the dynamics of the KSA toy market, meeting the evolving demands of consumers while upholding safety standards. As per Ken Research estimates, the KSA toy market is expected to grow at a robust rate in the upcoming years.
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Market Taxonomy:-
KSA Toy Market Segmentation
By Product Mix
- Scooters & Ride-ons
- Dolls & Accessories
- Baby Toys
- Construction Toys for Kids
- Educational Toys
- Vehicles and Remote-Control Toys
- Soft Toys
- Outdoor Play and activities
- Board Games
- Arts & Crafts
- Figures
- Indoor Play and activities
- Costumes
By Age Group
- 1>
- 1-2 y/o
- 3-5 y/o
- 6-8 y/o
- 9-12 y/o
- 12-16 y/o
- 16<
By Distributor Channel
- Offline
- Online
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