Toys And Games industry Overview
The global toys and games market size was valued at USD 291.72 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. The industry is expanding due to various factors, such as parents' increased interest in green toys, the resurgence of conventional toys & video games, awareness of the cognitive benefits of building toys, and the exponential expansion of mobile-based gaming. The market is also expected to be driven by the increased popularity of traditional recreational activities among younger generations. Millennials' growing predilection for old-school games at social gatherings is likely to propel the market growth over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Toys And Games market
Companies are actively shifting their product offerings by launching e-stores and retailing products through e-commerce platforms, such as Amazon, Walmart Online, and eBay, among other regional platforms, as online platforms have emerged as a viable and cost-effective alternative to physical marketing and sales. People stayed at home owing to the lockdown and looked for indoor games online. Curtis McGill and Scott Houdashell's toy companies' Amazon sales increased by 4,000% year over year in March 2020, while their Walmart in-store sales increased by 100%. In addition, Ravensburger, a puzzle maker, witnessed a surge in sales in March 2020. According to a business representative, sales of puzzles in the United States increased by 370% year over year in the last two weeks of March 2020, and sales were ten times greater than the same day in 2019.
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Toys And Games Market Segmentation
Grand View Research has segmented the global toys and games market on the basis of product, application, distribution channel, and region:
Toys & Games Product Outlook (Revenue, USD Billion, 2017 - 2030)
- Electronic Games
- Outdoor & Sport Toys
- Dolls
- Preschool Toys
- Games and Puzzles
- Others
Toys & Games Application Outlook (Revenue, USD Billion, 2017 - 2030)
- Up to 8 Years
- 9 - 15 Years
- 15 Years & Above
Toys & Games Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)
Toys & Games Regional Outlook (Revenue, USD Billion, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- April 2021: VTech completed the acquisition of QSC, LLC's production facility in Tecate, Mexico for manufacturing wood enclosure loudspeakers.
- February 2021: LEGO announced its decision to bring SEGA's legendary speedster, Sonic the Hedgehog, to brick form.
Key Companies profiled:
Some of the key players operating in the global toys and games market include:
- Dream International Ltd.
- VTech Holdings Ltd.
- The LEGO Group
- Sanrio Company, Ltd.
- Playmates Toys Ltd.
- JAKKS Pacific, Inc.
- Mattel
- Hasbro
- Konami Holdings Corp.
- Bandai Namco Holdings Inc.
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