Traditional Toys and Games Market | Key Players are Dream International Limited, Hasbro, Mattel, Funskool Limited, Lego A/S

The global traditional toys and games market was valued at US$ 91.54 billion in 2016 and is expected to exhibit a CAGR of 4.84%, in terms of revenue to reach US$ 138.61 billion by 2025. The market includes traditional toys and games products such as outdoor and sports toys, puzzles, educational toys, construction sets and model vehicles among others.

The market has observed a significant boost in sales in the emerging regions of the world. This can be attributed to increasing purchasing power and per capita spend on toys by consumers in China, India, ASEAN, and Brazil. Despite a high per capita spending on toys and games by consumers in North America and Europe, the regions are witnessing slow growth due to growing inclination towards digital gaming. The traditional toys and games market in North America was valued at US$ 28.73 billion in 2016 and is projected to exhibit a CAGR of 4.87% over the forecast period (2017-2025).

Download PDF Brochure at :
https://www.coherentmarketinsights.com/insight/request-pdf/1243

Thin profit margins in the market, are preventing major players to make large investments in the market. Companies are focused on growing their core competency in their core markets. For example, the LEGO Group is focused on increasing its market share in the construction sets instead of expanding its product portfolio. This has allowed domestic players in emerging economies such as China, India, and ASEAN to capture market share. For instance, in India, Mattel relies on imports from Malaysia and Indonesia to cater to the market in India. The lack of local manufacturing base coupled with brand value has rendered the company’s toys unaffordable to a many consumers in the country. This has supplemented the rise of domestic players such as Funskool which is also a licensed manufacturer for LEGO, Hasbro, Takara Tomy, and LeapFrog.

Among product types, the outdoor and sports toys segment is projected to be the largest segment over the forecast period. The segment was valued at US$ 13.85 billion in 2016 and is expected to exhibit a CAGR of 5.98% over the forecast period, to reach US$ 23.18 billion by 2025.

Cross-over products, combining traditional toys and games and digital media is increasingly being observed. The popularity of technology toys across the traditional toys and games industry is increasing. In 2014, Takara Tomy and Huawei Technology entered into an agreement for the development of toys in China. Takara Tomy has similar partnerships with Docomo and PlayFusion Limited.

Brand and product counterfeiting poses as a major concern for industry players. Lack of trademark protection in emerging economies of Asia Pacific and Latin America has led to counterfeiting. Counterfeited products are usually not manufactured with appropriate safety standards, thus posing a risk to consumers. Toxic coatings and glues used in counterfeited toys pose a risk to consumers as the chemicals leach out over time. This may result in ingestion or inhalation of the chemicals. Trademark infringement is commonly observed in emerging economies such as India, China, and Turkey.

North America and Europe accounted for major shares in the global traditional toys and games market, in terms of revenue, in 2016. In Asia Pacific, the low purchasing power among the populace in rural areas of emerging economies, is expected to hinder growth of the traditional toys and games market.

Major Players in the Global Traditional Toys and Games Market

Major players operating in the global traditional toys and games market include Dream International Limited, Hasbro, Inc., Mattel, Inc., Funskool Limited, Lego A/S, Jakks Pacific Inc., Tomy Co. Ltd., LeapFrog Enterprises Inc., Spin Master Corp., and Bandai Namco Holdings Inc.

For More Information :
https://www.coherentmarketinsights.com/market-insight/traditional-toys-and-games-market-1243

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services and competitive analysis through various recommendations related to emerging market trends, technologies and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.