Toys and Games Market 2023-2028: Globally Demand, Growth Rate (CAGR of 4.73%), Top Brands and Forecast

According to the latest report by IMARC Group, titled "Toys and Games Market: Global Industry Trends, Share, Growth, Opportunity and Forecast 2023-2028", The global toys and games market size reached US$ 109.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 143.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.73% during 2023-2028.

Toys and games play a crucial role in the learning process of children and toddlers. They include rattles, dolls, toy cars, skipping ropes, board games, and jigsaw puzzles, which are intended for use by children b. They form an integral part of the overall development of children as they aid in expressing their emotions and boost creativity. They are also an effective way of de-stressing and improving cognitive, physical, and social skills.

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Market Trends and Drivers:

The market is primarily driven by the inflating disposable income levels of individuals as it has led to a shift from conventional to more advanced toys and video games. Besides this, the growing consciousness about the cognitive benefits of toys and the rising popularity of educational and scientific toys are fueling the market growth.

In addition to this, with the rising awareness about the importance of eco-friendly products, several companies are introducing green and sustainable toys and games. They also instill environmental awareness in children, which is significantly encouraging parents to opt for these toys and games for their children. Nowadays, key manufacturers are also launching toys on the e-commerce platforms, such as Amazon, Walmart Online, and eBay, which are cost-effective alternatives to physical markets. Furthermore, the launch of new movies and cartoons is prompting manufacturers to develop high-tech electronic toys, depicting action figures like the Hulk, Batman, Ironman, etc., as well as experimental games such as virtual reality gaming.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Hasbro
• Mattel
• Ravensburger
• Tomy
• The Lego Group
• Funtastic
• JAKKS Pacific
• Lansay
• LeapFrog Enterprises
• MGA Entertainment
• Playmates Toys
• ToyQuest Vivid Imaginations

Key Market Segmentation:

Breakup by Product Type:

• Plush Toys
• Infant/Pre-school Toys
• Activity Toys
• Dolls
• Games And Puzzles
• Ride-ons
• Others

Breakup by Distribution Channel:

• Specialty Stores
• Supermarkets And Hypermarkets
• Departmental Stores
• Online
• General Stores

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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