Toys Market Expected to Hit USD 103.8 Billion by 2027, The Asia Region is Anticipated to Grow with Robust CAGR of 5.4%

By product type, the sports and outdoor toys segment led in terms of toys market share, in 2019.

WILMINGTON, DE, UNITED STATES, November 15, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Toys Market by Product Type, Age Group and Sales Channel: Opportunity Analysis and Industry Forecast, 2021–2027,” the toys market size was $92.2 billion in 2019, and is projected reach $103.8 billion by 2027, registering a CAGR of 2.5% from 2021 to 2027.

The increase in number of games bars, cafes and family entertainment centers worldwide is boosting the demand for toys and games. These family entertainment centers, game bars and cafes are witnessing a high traction and had gained remarkable popularity across the world in the course of recent years. The quick expansion of game cafes is encouraging children as well as adults to learn new games along with connecting each other for meaningful social interactions. In the U.S. over 5,000 board games cafes were inaugurated in the year 2016. Furthermore, there are over 700 game cafes in China and in 2017, in addition about 60 game cafes were opened in Beijing alone. The increase in number of these cafes and entertainment centers that cater to both kids and adults help generate high revenues for the players operating in the global toys market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐓𝐡𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐎𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 @ www.alliedmarketresearch.com/request…mple/13415

Engaged players in the toys industry are striving to make more environmentally conscious decision about their product portfolios, especially in terms of toys packaging. The players are focusing on minimalistic usage of plastic along with ensuring packaging is part of the toy. Plethora of initiatives have been launched in past few years ranging from adopting recycled packaging materials and minimal packaging to adopting bio-based plastics instead of their petroleum counterpart. For instance, MGA Entertainment has introduced new biodegradable ball as a new product offering in its L.O.L Surprise! Doll line. Furthermore it also introduced a new product line from Little Tikes using blend of recycled resins as raw material. Another company, Safari Ltd. is offering BioBuddi line of toy blocks, much like Mega Bloks and Lego, which uses sugarcane in the production and manufacturing of toys. Such practices adopted by the players paves the way for more sustainable and environmentally friendly products in the future.

The toys market is segmented into product type, age group, sales channel and region. By product type, the global market is classified into action figures, building sets, dolls, games/puzzles, sports & outdoor toys, plush and others. By age group, it is studied across upto 5 years, 5 to 10 years, and above 10 years. By sales channel, the market is divided into hypermarket/supermarket, specialty stores, departmental stores, online channels and others. By region, the toys market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings Of The Study

By region, Asia- is anticipated to grow with robust CAGR of 5.4% during the forecast period.
By product type, the sports and outdoor toys segment led in terms of toys market share, in 2019; however action figure segment is expected to gain market share in the upcoming years.
By age group, the 5 to 10 Years segment accounted for about two-fifth share of the toys market in 2019; however, the children toys market segment is poised to grow at the highest CAGR during the forecast period.
By sales channel, the online channels segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 4.5% during the toys market forecast period.
Some of the key players profiled in the toys market analysis includes Atlas Games, Clementoni S.p.A., Goliath Games, Hasbro, Inc., The LEGO Group, Mattel, Inc., Ravensburger AG, Tomy Company, Ltd, Vtech Holdings, and Thames & Kosmos.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A06521

The market is divided by product type, age group, sales channel, and region. By product type, the market is divided into action figures, building sets, dolls, games and puzzles, sports and outdoor toys, plush and others. By age group, the market is divided into up to 5 years, 5 to 10 years and above 10 years. According to the sales channel, the market is divided into hypermarket/supermarket, specialty stores, departmental stores, online channels and others. By region, the market is divided into North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, Saudi Arabia, United Arab Emirates, South Africa, and the Rest of LAMEA).

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐀𝐌𝐑'𝐬 𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐯𝐞 𝐨𝐧𝐠𝐨𝐢𝐧𝐠 𝐂𝐨𝐯𝐞𝐫𝐚𝐠𝐞 𝐨𝐧 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐚𝐧𝐝 𝐆𝐨𝐨𝐝𝐬 𝐃𝐨𝐦𝐚𝐢𝐧:

𝐄𝐲𝐞 𝐒𝐡𝐚𝐝𝐨𝐰 𝐌𝐚𝐫𝐤𝐞𝐭 www.alliedmarketresearch.com/eye-sha…ket-A16914

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David Correa
Allied Market Research
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