Toys Market Demand, Trends and Business Opportunities 2023-2028

Author: Elena Anderson

Marketing Manager

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Global Toys Market Research Report 2023-2028:

As per the latest report by IMARC Group, titled “ Toys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global toys market size reached US$ 170.7 Billion in 2022.

Toys are playthings designed specifically for toddlers and young children. They are available in various sizes and colors and are usually made from clay, cloth, paper, plastic, and wood. Toys enhance intelligence quotient (IQ), increase motor development, improve concentration and creativity, and develop personality and communication skills.

They also aid in enhancing the problem-solving capabilities of children while improving their social, cognitive and physical skills. Presently, hi-tech electronic toys, puzzles, board games, action figurines and mechanical cars are gaining widespread popularity among children as they help boost creativity in children and stimulate their imagination.

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Global Toys Market Trends:

The market is primarily driven by the rising concerns among parents about the social and emotional development of their children. Moreover, various playschools are incorporating science, technology, engineering, and mathematics (STEM) toys, such as boxes, blocks, musical instruments, and jigsaw puzzles, in their education system to encourage creativity and problem-solving skills in children. This, coupled with the emerging e-commerce industry, is driving the sales of innovative electronic and digital toys across the globe.

Apart from this, the growing popularity of tech-savvy electronic toys that depict action figures, such as Batman, Superman, Ironman, and Captain America, is also contributing to the market growth. Furthermore, the increasing product availability through online retail portals and favorable government initiatives encouraging companies to design and introduce toys based on culture, ethos, and local folklore and heroes, are anticipated to propel the market growth.

Looking forward, IMARC Group expects the market value to reach US$ 267.9 Billion by 2028, exhibiting a CAGR of 7.2% during the forecast period (2023-2028)

View Report TOC, Figures and Tables: https://www.imarcgroup.com/toys-market

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Key Market Segmentation

The research report includes the following segments:

Breakup by Product Type:

• Action Figures

• Building Sets

• Dolls

• Games and Puzzles

• Sports and Outdoor Toys

• Plush

• Others

Breakup by Age Group:

• Up to 5 Years

• 5 to 10 Years

• Above 10 Years

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Breakup by Sales Channel:

• Supermarkets and Hypermarkets

• Specialty Stores

• Department Stores

• Online Stores

• Others

Breakup by Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

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Competitive Landscape with Key Players:

• Clementoni Spa

• Funskool Ltd.

• Hasbro Inc.

• Lego A/S (Kirkbi A/S)

• Mattel Inc.

• Playmobil (Brandstätter Group)

• Pressman Toy Corporation (Goliath B.V.)

• Simba Dickie Group

• Spin Master

• Talicor Inc.

• Thinkfun Inc. (Ravensburger North America Inc.)

• Tomy Company Ltd

1. What was the size of the global toys market in 2022?

2. What is the expected growth rate of the global toys market during 2023-2028?

3. What are the key factors driving the global toys market?

4. What has been the impact of COVID-19 on the global toys market?

5. What is the breakup of the global toys market based on the product type?

6. What is the breakup of the global toys market based on the age group?

7. What is the breakup of the global toys market based on the sales channel?

8. What are the key regions in the global toys market?

9. Who are the key players/companies in the global toys market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/toys-market/toc

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