Educational Baby Toys Market Trends, Business Overview, Industry Growth and Forecast to 2028

The global educational baby toys market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The growing urbanization coupled with rising disposable income is one of the major factors driving the growth of the global educational baby toys market. According to the data published by UNCTAD in 2021, the share of the urban population increased to 56.2% in 2020. In developed economies, 79.0% of people live in cities. Also, as per the data published by United Nations Organization, the global population is projected to increase by 2 billion persons in the next 30 years from 7.7 billion in 2020 to 9.7 billion in 2050 and could peak at nearly 11 billion around 2100. The growth has been driven by increasing urbanization and accelerating migration. 61.0% of the global population lives in Asia, 17.0% in Africa, 10.0% in Europe, 8.0% in Latin America, and the remaining 5.0% in Northern America. Moreover, as per the data published by Statistics Canada, the share of disposable income for the household in the lowest quintile increased from 6.1% in the first quarter to a high of 7.2% in the second quarter of 2020. Also, as per OECD, the average household net adjusted disposable income per capita is $30,490 per annum.

The rise in the number of online buyers is anticipated to drive the growth of the global educational baby toys market. According to the data published by Oberlo, the number of digital buyers accounted for 2.14 billion in 2021 and more than one out of four is an online shopper. Moreover, in 2021, approximately 230 million Americans shopped online, which is an increase of 1.32% from 2020. In addition, the US consumers spent $38.19 billion on toys in 2021, totaling a 14.2% increase from 2020. Thus, the rise in the number of online buyers is anticipated to fuel the demand for the global educational baby toys market.

Looking toward the demand for educational baby toys, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in April 2022, leapfrog Enterprises, Inc launched educational toys for children. The toys include My Pal Scout Smarty Paws, Violet Smarty Paws, Ironing Time Learning Set, and Clean Sweep Learning Caddy. These toys feature music, mindful activities, and games while introducing words, countings, and emotions. Thus, such launches are anticipated to drive the growth of the global educational baby toys market.

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Market Coverage
•The market number available for - 2021-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Lego A/S, Hasbro, Inc., and Vtech Holdings Ltd among others

A full report Educational Baby Toys Market of is available at:  https://orionmarketreports.com/educational-baby-toys-market/104868/

Global Educational Baby Toys Market Report by Segment
By Type
•Building Sets
•Jigsaw Puzzles
•Card Games
•Others
By Application
•Physical stores
•Online Stores

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 

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This release was published on openPR.