Pune, India, Oct. 26, 2021 (GLOBE NEWSWIRE) -- The global toys industry size is expected to experience significant growth by reaching USD 212.49 billion in 2027 while exhibiting a CAGR of 7.3% between 2020 and 2027. This is attributable to the increasing social media influence that is being leveraged by manufacturing companies to boost their revenues globally. Fortune Business Insights published this information in its latest report.
The report further observes that the market stood at USD 105.85 billion in 2019.
List of the Leading Companies Profiled in the Global Toys Market are:
- Lego System A/S (Billund, Denmark)
- Hasbro Inc. (Rhode Island, U.S.)
- Mattel Inc. (California, U.S.)
- Ravensburger Holding GmbH & Co. KG (Ravensburg, Germany)
- Spin Master (Toronto, Canada)
- MGA Entertainment Inc. (California, U.S.)
- PAI Partners (Paris, France)
- Nintendo Co. Ltd. (Kyoto, Japan)
- Radio Flyer (Illinois, U.S.)
- A.L. Lindsay & Company (New South Wales, Australia)
- Artsana Group (Grandate, Italy)
- K’Nex Industries Inc. (Pennsylvania, U.S.)
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DRIVING FACTORS
Increasing Social Media Influence to Aid Growth
The companies present in the market are leveraging the opportunities provided by the social media platform. With more and more children engaged to social media, the companies are partnering with market agencies to improve their brand presence through these platforms. Moreover, active participation of key players through different technological events that promote gaming is expected to boost the adoption of innovative and advanced toys. These factors are anticipated to favor the Toys Industry growth during the forecast period.
SEGMENTATION:
Dolls Segment Held 28.73% Market Share in 2019
Based on product, the dolls segment held a market share of about 28.73% in 2019 and is projected to showcase exponential growth owing to the availability of different types of dolls based on cartoon characters that are being preferred by children globally.
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REGIONAL INSIGHTS
Growing Gifting Trend in North America to Propel Market Growth
Among all the regions, North America is expected to hold the highest position in the global market during the forecast period. This is attributable to the growing gifting trend in countries such as the United States that is likely to drive the demand for toys during special occasions such as birthdays in the region. North America stood at USD 35.88 billion in 2019.
The market in Asia-Pacific is anticipated to showcase considerable growth owing to the growing demand for art & craft toys amongst the children in the region between 2020 and 2027.
COMPETITIVE LANDSCAPE
Product Innovation by Prominent Companies to Brighten Their Market Positions
The global market is experiencing healthy competition between the major companies that are striving to maintain a stronghold. These companies are developing innovative toys and other kid entertainment products to cater to the growing demand amongst their patrons. Additionally, other key players are trying to gain a competitive edge over their rivals by adopting strategies such as merger and acquisition, collaboration, and partnership during the forecast period.
Key Industry Development:
November 2020 – Luki Lab, a division of Strottman International, introduced two creative toy series, Gojo Adventure and Pinxies during Christmas holidays. The company is focusing on leveraging the festive occasion to boost their sales revenue by catering to the demand for entertainment products amongst the kids.
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain and Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis (in relation to COVID-19)
- 4.5.1 Impact of COVID-19
- 4.5.2 Supply Chain Challenges
- 4.5.3 Potential Opportunities due to COVID-19
- Global Toys Industry Analysis, Insights, and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product Type (Value)
- Dolls
- Outdoor and Sport Toys
- Building and Construction Set
- Infant and Preschool Toys
- Games and Puzzles
- Others
- By Age Group (Value)
- 0-3 Years
- 3-5 Years
- 5-12 Years
- 12-18 Years
- 18+ Years
- By Distribution Channel (Value)
- Online
- Offline
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product Type (Value)
TOC Continued…!
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