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Report Overview
The global toys market was valued at USD 108.29 billion in 2023. Owing to the rising educational focus and innovation, the market will spur at a 4.1% CAGR from 2024 to 2032. By 2032, the industry will attain USD 156.96 billion.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Toys Market Share
Market Analysis By Product
Games and puzzles are growing due to their educational value and engagement
From the product perspective, the traction is toward games and puzzles, which is projected to amass a 4.7% CAGR through 2032. With growing awareness about cognitive development and mental well-being, parents are keen on toys that impart education and sharpen the mind. As per toys market analysis, games and puzzles fulfil this demand by enhancing focus, reasoning, and solving problems. Another trend for social interaction and bonding can be found in cooperative and family-friendly games. These are products which can serve both as challenges and entertainment for all age groups, as seen in Ravensburger's offering of strategy games and puzzles. The segment is flexible to use in either instructional or recreational purposes because it can easily adapt to a wide range of age brackets and various interests.
By Age Group Analysis
The 5-10 years age group is growing due to demand for educational toys
The segment of 5-10-year-old children is expected to witness a CAGR of 4.3% in the forecast period from 2024 to 2032. This group of children shall be an ideal target for interactive and educational toys, as they lie in that stage when their cognitive and social development is supposed to take place. Parents are increasingly inclined toward spending on toys that develop learning and skills besides mere entertainment, opening up new toys market opportunities. Playsets that are interactive, learning games, and craft and science kits represent the products that correctly meet the developmental needs in the given category. For example, toys offered by LEGO and Osmo come into the hands of children to entertain them in a playful and instructive way, engaging them in problem-solving and critical thinking. The market develops rapidly for a product that justifies the age group's demand for playful moments which should be not only entertaining but satisfying too.
Toys Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 108.29 billion in 2023.
The market of the global toys is supposed to expand at a CAGR of 4.1% within the projection period of 2024-2032.
Revenue generated from the toy market is supposed to reach 156.96 billion in 2032.
Some of the major trends that impact the growth of the industry include: integration of technology, sustainability, educational toys, and inclusivity and diversity.
Based on product, categorization of market includes action figures, building sets, dolls, games and puzzles, sports and outdoor toys, plush, vehicles, and others.
The market key players are Tomy Company Ltd., Simba Dickie Group, Moose Toys Ltd., Spin Master Corporation, Hasbro, Inc., Mattel, Inc., Funko, Inc. and LEGO System A/S among others.
The market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
The Asia-Pacific region is the most growing region in the global toys market due to rising demand involving toys, games, as well as television and digital entertainment ventures.
The key players in the toys market are Tomy Company Ltd., Simba Dickie Group, Moose Toys Ltd., Spin Master Corporation, and Hasbro, Inc.
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