Singapore Toys Market Report and Forecast 2024-2032

Singapore Toys Market Size

The Singapore toys market is projected to grow at a CAGR of 3.5% between 2024 and 2032.

Singapore Toys Market Outlook

• In 2023 total residents below the age of 20 were over 791,000 up 0.3% since 2022, the Department of Statistics reported.

• As per the annual report of LEGO A/S for the year 2023, the company recorded USD 65.9 billion in revenue.

• As per the Department of Statistics in Singapore, in 2023, the total live births were 33,541.

Singapore Toys Market Growth

Growth in the Singapore toys market is boosted by hypermarkets and supermarkets, they offer a one-stop shopping experience for a variety of toys.

Supermarkets and hypermarkets are very important in Singapore’s toy market because they can be easily accessed and have a wide range of customers. This makes them convenient places for families with kids since they offer a mix of popular toy brands, licensed merchandise, educational toys, and seasonal toys at competitive prices. They allow individuals to browse and compare options easily.

The toy industry in the domestic region is likely to find growth given steady growth among the relevant age group, coupled with robust marketing by toy brands. In August 2023 Hasbro in Singapore came together with McDonald's to release a new toy as part of the Happy Meal scheme.

Online channels have emerged as one of the main players in the Singapore toy market over the past few years showing a significant rise. Platforms like shopee and Amazon give buyers access to toys that may not necessarily be found within physical stores. Busy parents or individuals find it convenient since online channels allow them to browse through different toys from the comfort of their houses.

Singapore Toys Market Segmentation

Singapore Toys Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Product

• Action Figures

• Building Sets

• Games and Puzzles

• Dolls

• Sports and Outdoor Toys

• Plush

• Others 

Market Breakup by Age Group

• Up to 5 Years

• Between 5 to 10 Years

• Above 10 Years

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Departmental Stores

• Online 

• Others

Singapore Toys Market Share

Growth in the toys market of Singapore is led by action figures owing to the popularity of marketing campaigns led by brands in this segment. Action figures of iconic characters from famous video games, comics, and movie franchises like” Marvel”, “DC” and “Star Wars” have a massive fan base among children and collectors which drives demand in this industry.

Leading Companies in the Singapore Toys Market

Major players in this market have a burgeoning outreach owing to investments in sustainable and eco-friendly toys driven by increasing environmental awareness along with an emphasis on safety and quality.

• LEGO System A/S

• Bandai Namco Holdings Inc.

• Hasbro, Inc.

• TOMY Company, Ltd.

• Dream International Limited

• Sunshing Marketing Pte Ltd.

• Others

Key Highlights of the Report