GMI Research analysis indicates that the Toys and Games Market estimated at USD 298.5 billion in 2021 and is slated to register a single digit CAGR of 5.1% over the forecast period, and is projected to reach USD 444.4 billion in 2029.

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Market Dynamic

Key Drivers and Toy Industry Trends

In recent years, a rise in the popularity of interactive and multi-functional toys and games has been observed among children, which has been positively impacting the Toys and Games Market. Technological advancements in the sector has led to dramatic changes in consumer behavior, which has increased the demand for games across the nations. For instance, VR and AR headset, has led to the increase in the adoption of the video games by children, which has certainly made a beneficial impact on the global Toys and Games Market. Furthermore, the addition of the educational gaming and toys series has tremendously raised the bar of the market. Educational toys and games in today’s world contribute a lot in children’s value education. According to the “Asian Journal of Education and Training”, better development of human is characterized by the mode of toys and play which helps in building up a framework of the relationship with culture and education. This is one of the major reasons for parents’ awareness for adopting games and toys for their child development. The market is driven by growing demand for a replica of instruments such as a keyboard, guitar, and drums, art and craft toys, and stuffed toys. The increasing social media penetration, growing audience, and rising user engagement are some other factors contributing to the global market’s growth. According to “The Toy Association, Inc.”, sales of toys has increased from 2014-2019 by 15%, which shows the huge potential of the global toys industry market share.

The growing popularity of FIFA, counterstrike, PUBG, and video games is one of the emerging toy and games industry trends which has significantly contributed to the market growth. Thanks to the increasing number of smartphones, computers and increasing income, the digital game market has robustly grown. The global adoption of smartphones has grown at an extraordinary pace. For example, according to GSM Association, at the end of 2017 global smartphone adoption reached 59% and is projected to rise over 79% by the end of 2025, respectively. Thus, with the increasing rate of smartphone adoption, the demand and the number of consumers will also rise, which will boost the global toys and games market size.

Restraint in the Toys and Games Industry

However, the U.S.’s stringent regulation for not using games manufactured in China is expected to hamper the market as China is leading in the global games and toys market.

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Product Type – Segment Analysis

Based on the product type, outdoor and sports is expected to hold a significant share of the global toys and games market. Increasing awareness among the population related to the beneficial outcomes of the parents’ outdoor activities is anticipated to offer an opportunity for outdoor sports and toys over the forecast period during the long run. Outdoor sports activities keep kids and children active as well as help in increasing physical stamina and fitness. Additionally, physical activities promote overall well-being and good health as these activities increase immunity and lower heart disease and obesity rate. Furthermore, companies like JAKKS Pacific is involved in offering products like Jakks Pacific Disney Frozen Toddler Elsa 3″ Mini Doll, Jakks Pacific Ice Skating Anna – Frozen Dolls etc. which has driven the growth of the global Toys and Games Market.

Distribution Channel – Segment Analysis

Based on the distribution channel, offline channels is expected to hold a significant share of the global toys and games market. In several regions like Asia-Pacific, North America and Europe, toy manufacturers are increasing their retail outlets due to the growing popularity of educational games. FirstCry, one of India’s prominent retailers, plans to increase its retail outlets from 150 to 700 by 2020, which is driving the offline sales channel in the global Toys and Games Market.

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Regional – Segment Analysis:

Based on the region, Asia-Pacific is expected to dominate the global toys and games market over the forecast period. Asia Pacific region is one of the leading suppliers of products and raw materials to other regions. China and India are the two prominent economies globally, owing to which many vendors are entering this market. In China, pre-school toys are gaining acceptance due to increasing sales of science, maths, technology, and art-based gadgets. Australian parents prefer traditional toys such as board games, educational toys, etc. The parents believe that the toys will help to attain more intelligence and knowledge, thus leading to the growth of the toys and games market in this region.

Top Market Players

Various notable players operating in the market include Hasbro, Integrity Toys, Inc., JAKKS Pacific, K’NEX, LEGO Group, Mattel, MEGA Brands Inc., BANDAI NAMCO Holdings.Inc, TOMY, and Playmates Toys Limited., among others. 

Key Developments:

• • In 2020, Hasbro launched a series of games like MONOPOLY, CLUE, JENGA, and THE GAME OF LIFE, which has helped expand the company’s product portfolio.

Segments covered in the Report:

The global toys and games market have been segmented based on product type, distribution channel, and regions. Based on product type, the market is segmented into games and puzzles, infant and pre-school toys, construction toys, dolls, and accessories, outdoor and sports toys, video games and others. Based on distribution channel, the market is segmented into online channel and offline channel. 

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Key questions answered in this research report:

• • At what pace is global Toys and Games Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Toys and Games Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Toys and Games Market?
  • Which product type generated maximum revenues in 2021 and identify the most promising product type during the forecast period?
  • What are the various distribution channel areas of global Toys and Games Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 298.5 Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Product Type, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Hasbro, Integrity Toys, Inc., JAKKS Pacific, K’NEX, LEGO Group, Mattel, Parent Co., MEGA Brands Inc., BANDAI NAMCO Holdings. Inc, Playmates Toys Limited., TOMY, among others; a total of 10 companies covered
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Toys and Games Market by Product Type

• • Games and Puzzles
  • Infant and Pre-School Toys
  • Construction Toys
  • Dolls and Accessories
  • Outdoor and Sports Toys
  • Video Games
  • Others

Global Toys and Games Market by Distribution Channel

• • Online Channel
  • Offline Channel

Global Toys and Games Market by Region

• • North America Toys and Games Market (Option 1: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • US Market All-Up
    • Canada Market All-Up
  • Europe Toys and Games Market (Option 2: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Toys and Games Market (Option 3: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Toys and Games Market (Option 4: As a part of the free 25% customization)
    • By Product Type
    • By Distribution Channel
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Toys and Games market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hasbro
  • Integrity Toys, Inc.
  • JAKKS Pacific
  • K’NEX
  • LEGO Group
  • Mattel, Parent Co.,
  • MEGA Brands Inc.,
  • BANDAI NAMCO Holdings. Inc,
  • Playmates Toys Limited
  • TOMY