Press release
Toys and Games Market is estimated to touch USD 444.4 billion in 2029 at 5.1% CAGR during 2022-2029 | Size, trends & Forecast
Toys and Games Market
Toys and Games Market was valued at USD 298.5 billion in 2021 and is predicted to grow at CAGR of 5.1% over the forecast period, and is projected to reach USD 444.4 billion in 2029.
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/toys-and-games-market-analysis-industry-research/
The factors driving the growth of Toys and Games Market includes growing popularity of mobile-based gaming, increasing demand for educational and scientific toys around the world and rising emphasis manufacturers on producing environment friendly toys. According to the report published by Statista, the Global Mobile Gaming Market was calculated around USD 140.5 billion for 2022 and is expected to reach USD 173.4 billion by the end of 2026, which will accelerate the Toys and Games Market size in the approaching years. Moreover, rise in the number of virtual reality and online gaming tournaments across the globe, increase in the launch of innovative toy products and growing influence of social media platforms, are some of the additional factors supplementing the Toys and Games Market share. In addition, increasingly availability of construction toys and games and puzzles, at the e-ecommerce platforms, technological advancements in the toy and games, rising investments by leading players on research and development, rapid urbanization, and growing population growth rates, are further contributing towards the market growth.
However, the growth of Toys and Games Market is hindered due to strict regulations imposed by Government regarding the import of toys.
The major players operating in the market are MEGA Brands Inc., BANDAI NAMCO Holdings.Inc, TOMY, Hasbro, Integrity Toys, Inc., JAKKS Pacific, Playmates Toys Limited., K'NEX, LEGO Group and Mattel, among others.
Based on Product Type, the Outdoor and Sports Toys segment is predicted to expand at a significant CAGR during the forecast period
Outdoor sports activities enhance the stamina and fitness of children, increases immunity, and reduces the risks of obesity, are some of the factors responsible for the segment's growth.
Based on Distribution Channel, the Offline Channel segment is projected to grow at a remarkable CAGR over the forecast period
As per the Toys and Games Market Research, offline channels such as supermarkets and retail outlets offer wide variety of children toys and games products at attractive discount rates, is the major factor propelling the growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Presence of the leading players such as BANDAI NAMCO Holdings.Inc and Playmates Toys Limited., growing popularity of pre school toys, increasing per capita income, rapid urbanization, and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
In 2020, Hasbro introduced a series of games like MONOPOLY, CLUE, JENGA, and THE GAME OF LIFE, which will expand the company's product portfolio.
Market Segmentation
Segmentation by Product Type
Games and Puzzles
Infant and Pre-School Toys
Construction Toys
Dolls and Accessories
Outdoor and Sports Toys
Video Games
Others
Segmentation by Distribution Channel
Online Channel
Offline Channel
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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