Traditional Toys and Games Market is expected to reach US$ 138.61 billion by 2025 | Key Players are Hasbro, Mattel, Funskool, Lego A/S, Jakks Pacific

The growth of the traditional toys and games market has been boosted by the high birth rate in the emerging economies of the world. The market is a highly consolidated and is dominated by a few major players such as Namco Bandai, Mattel, Hasbro, Lego, and Jakks Pacific. China accounted for over 86% of the world’s toys export in 2016. The major destinations for Chinese manufactured toys and games were U.S. and EU-27. The market is highly price sensitive and is threatened by substitutes such as video games. This has resulted in increased focus of market players on emerging economies of Asia Pacific and Latin America rather than the mature markets of Europe and North America.

Market Dynamics

Emerging economies of Latin America and Asia Pacific are expected to drive growth of the market, due to increasing spending power of the populace in countries such as Brazil, Argentina, China, India, and Indonesia is fueling growth of the market. Europe and North America are expected to witness slow growth over the forecast period due to falling birth rates and aging populace. Major factors restraining growth of the market include the growing predilection towards smartphones and computer games over traditional toys and games. This trend is particularly evident in the urban areas of both North America and Europe. Outdoor and sports toys product type segment is expected to the largest and fastest growing segment. Among distribution channels, online segment is expected to be the fastest growing. This has enabled small and medium sized manufacturers of toys and games to expand their customer base.

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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).

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.

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.

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This release was published on openPR.