Global Toys And Games Market

Global Toys and Games Market, By Product Type (Games and Puzzles, Video Games, Construction Toys, Dolls and Accessories, Outdoor and Sports Toys, and Other Product Types), Distribution Channel (Online and Offline), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021-2027

  • Published Date: September 2021
  • Report ID: BWC2171
  • Available Format: PDF
  • Page: 200

Report Overview

Commercialization of popular cartoon characters like Doraemon, Ironman, Superman, and Spiderman is the primary factor driving the growth of the global toys and games market. Moreover, the rising disposable income is another major factor, favoring the growth of the market.

Global Toys and Games Market Size -Industry Trends & Forecast Report 2027

Global Toys and Games Market was worth USD 276.1 Billion in 2020 and is further projected to reach USD 403.1 Billion by 2027, at a CAGR of 5.7% during 2021-2027 (forecast period). Because of the emergence of high-income group customers, the global toys and games market has been witnessing tremendous growth. Moreover, toys and games inspired by popular cartoon, movie, or TV characters are gaining prominence across the globe, which in turn, is driving the market. Several other trends contribute to increased demand for toys and games, including the popularity of educational and scientific toys, and the growing demand for sustainable, reusable, and eco-friendly toys.

Global Toys and Games Market

Source: BlueWeave Consulting

Global Toys and Games Market Overview

A toy or game is any item a child can use for play, including rattles, plush toys such as teddy bears, toy cars, dolls, ropes, jigsaw puzzles, board games, and much more. Parents' increased interest in ecological toys, the rebirth of traditional toys and video games, awareness of the intellectual benefits of building/construction toys, and the growing popularity of mobile-based gaming are all contributing to the global toys and games market's growth.The global toys and games market is also driven by the increasing popularity of traditional recreational activities among young people. Additionally, the market growth is expected to be driven by millennials' growing fondness for old-fashioned games at social gatherings.

Growth Drivers

The influence of technology is promoting video games

Video game developers have developedrecurring revenue business models, which has substantially contributed to expanding the global toys and games market over the past few years due to continual video game engagement resulting in increased sales over time. The expansion of technology has led to significant growth in the global toys and games market as consumers are spending more on video content, virtual reality products, and video game tournaments. Moreover, with the shift from physical to digital distribution of software, as well as the expansion of mobile and online gaming, the market has experienced exponential growth.

The Growing Popularity of TV shows

One of the major factors that have been influencing the growth of the global toys and games market is the rising popularity of TV shows and movies. Several blockbusters, such as Star Wars, Frozen, and Despicable Me, have led to high retail sales. Moreover, specialty stores promote many popular TV series, including Game of Thrones, Penny Dreadful, Breaking Bad, and Big Bang Theory. For example, one of the US-Based retail stores by the name of Hot Topic makes a significant portion of its income from TV-based merchandise and animation collectibles. Meanwhile, sales of collectibles are likely to increase during this forecast period, thereby driving the growth of the global toys and games market.

Restraints

The major restraint facing the global toys and games market is the new threat of smartphones and tablets. As a result, traditional toy manufacturers are facing difficulties. It's no wonder that kids are lured to electronics as technology advances and the internet becomes more widely available. This has posed a serious challenge to the toy industry's profit margins, particularly in Spain, forcing them to rethink the entire market, as other countries such as the United Kingdom and Germany are doing.

Impact of COVID-19 in the industry

Since the sudden emergence of the COVID-19 pandemic, there has been a disruption in the import and export of toys and games due to the implementation of strict lockdown regulations in many countries. COVID-19's influence, on the other hand, has led to significant growth of the toy and game market among high- and middle-income customers. This is mainly due to the launch of numerous stay-at-home product ranges by the key players. During the pandemic, sales of toys and games were driven primarily by online retailers, such as Amazon Toys, Walmart Toys, Fat Brain Toys, etc. Raw material supplies have been severely affected as a result of the lockdown restrictions imposed by various nations. Furthermore, the lower manufacturing volume resulted in lower sales volume.

Global Toys and Games Market: By Product Type

Based on product types, the global toys and games market is divided into Games &Puzzles, Video Games, Construction Toys, Dolls & Accessories, Outdoor & Sports Toys, and other Product Types. Among these, the video games segment held the largest market share in 2020.As a result of technological developments and internet penetration, consumers are spending more time watching video content, buying virtual reality products, and watching video game tournaments. The spread of mobile and online gaming, as well as the move from physical to online software distribution, are all contributing to the market's significant growth.

Global Toys and Games Market: By Distribution Channel

Based on distribution channels, the global toys and games market is divided into online and offline channels. The online segment has dominated the market in 2020 in terms of revenue. Many players are keenly shifting their product offerings method by introducing e-stores and retailing products through e-commerce platforms like Walmart online, Amazon, etc. These online platforms have emerged as a feasible and cost-effective replacement for traditional marketing and sales methods. Furthermore, because of the COVID-19 outbreak, many were forced to stay at home due to lockdown limitations. In order to amuse themselves during the lockdown, people started playing board games and indoor games, which were easily available online. As a result, the online segment of the global toys and games market has been witnessing impressive growth since the COVID-19 outbreak.

Global Toys and Games Market – Regional Insights

Based on regions, the global toys and games marketis grouped into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.Among these regions, the Asia Pacific holds the largest market share. India and China considered being prominent players in the Asia Pacific region as one of the major suppliers of products and raw materials.  Factors responsible for the growth of the global toys and games market are rising in the number of retail outlets along with the rising disposable income of consumers. There is a high demand from emerging countries like Singapore and India, which influenced the toys and games market. The increasing industrial and commercial sectors in the developing countries are responsible for increasing the demand for the product.

Regional Insights

Source: BlueWeave Consulting

Recent Developments

 

  • April 2021- Matchbox launched a series of toy cars inspired by real-life electric and hybrid carsto make its miniatures more sustainable and raise awareness among children about the impact of motoring on the environment.

 

  • June 2021- E-commerce major Flipkart announced the formation of a joint venture with Ace Turtle to bring Toys"R"Us and Babies"R"Us to its platform in India. As part of the joint venture, Toys"R" Us and Babies"R" Us have been licensed to operate in India.

 

Competitive Landscape

 

The key players in the global toys and games market are LeapFrog Enterprises, Vivid Imaginations, Mattel, Ravensburger, Lansay, PlaymatesToys, TOMY, The LEGO Group, The ToyQuest, Hasbro, MGA Entertainment, Funtastic, Funko, JAKKS Pacific and other key manufacturers.

 

The key players operating in the market are taking all possible measures to gain a competitive edge by launching announcing new toys and games in the market to cater to the welfares of their target consumers. New product launch is the most favored marketing strategy in the toys and games market.

 

Scope of the Report

Attribute

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabia

Product/Service Segmentation

ByProduct Type,By Distribution Channel,By Region

Key Players

LeapFrog Enterprises, Vivid Imaginations, Mattel, Ravensburger, Lansay, PlaymatesToys, TOMY, The LEGO Group, The ToyQuest, Hasbro, MGA Entertainment, Funtastic, Funko, JAKKS Pacific and other key manufacturers.

         

 

  • By Product Type
  • Games and Puzzles
  • Video Games
  • Construction Toys
  • Dolls and Accessories
  • Outdoor and Sports Toys
  • Other Product Types
  • By Distribution Channel
  • Online
  • Offline Channels
  • By Region
  • North America
  • Latin America
  • Europe
  • The Asia Pacific
  • The Middle East
  • Africa

Frequently Asked Questions:

Ans: The global toys and games market has reached USD276.1 Billion in 2020.
Ans: Several factors contribute to the growth of the global toys and games market, including parents' increasing interest in green toys, the resurgence of classic toys and video games, and growing awareness of the reasoning benefits of building toys and mobile gaming. Moreover, young people are increasingly turning to traditional recreational activities for recreation, driving the global toys and games market. Additionally, market growth is likely to be driven by millennials' growing interest in old-fashioned games at social gatherings.
Ans: The key players in the Global Toys and Games Market are Leap Frog Enterprises, VividImaginations,Mattel,Ravensburger,Lansay,PlaymatesToys,TOMY,TheLEGOGroup,The Toy Quest, Hasbro, MGA Entertainment, Funtastic, Funko, AKKS Pacific, and other key manufacturers.
Ans: The video games segment accounted for the largest share in the global toys and games market.
Ans: Based on distribution channel, the online segment is growing at a higher rate in the global toys and games market.