Kids Toys Market Size is Likely to Witness a Revenue of US$ 89.5 Billion at a High CAGR of 3.0% During the Forecast Period Between 2022 and 2031

According to a new report published by Allied Market Research, titled, "Kids Toys Market," The kids toys market size was valued at $65.8 billion in 2021, and is estimated to reach $89.5 billion by 2031, growing at a CAGR of 3% from 2022 to 2031.

Download Sample Report: https://www.alliedmarketresearch.com/request-sample/6896

The global kids toys market is growing rapidly, with the Asia-Pacific region leading in the market growth. The market is driven by innovation in toys, expansion of retail channels, and rise in disposable income. However, the emergence of smartphones poses a major challenge for engaged stakeholders. Moreover, the market also provides lucrative opportunities for the key players of the market with the emergence of educational, interactive, and multi-functional toys.

Growth in concern about the negative impact of plastic on the environment have resulted in leading players in the industry taking steps in this direction. Players now make environment-conscious decisions by ensuring the incorporation of natural raw materials and minimizing the usage of plastic. Such environment-friendly practices are gaining recognition among consumers who are now willing to pay premium prices for such products. This trend is anticipated to gain more popularity during the forecast period, which may result in small players to also make environment-friendly decisions regarding their product offerings.

Operating players in the market are strengthening their retail presence across the region. Amazon, Walmart, and Target have increased their toy assortments and ramped up their marketing in 2019. Walmart, which coined itself as "Best Toy Shop of America," introduced a digital playground and relaunched its interactive toy lab while Amazon released its second annual paper toy catalog for holiday 2019. In October, Walmart also rolled back prices on more than 200 toys in stores and online ahead of the holiday season. In 2019, Target partnered with Disney to open 25 shop-in-shops for Disney-branded toys, and in October 2019, it partnered with TRU Kids Brands, which owns the intellectual property of Toys "R" Us. The expansion of retail channels drives the market growth.

The Asia-Pacific market provides lucrative growth opportunities for market participants owing to large consumer base of the kids toys industry, combined with rise in disposable income. This region provides market participants with potential opportunities to launch premium and interactive toys. As a result, manufacturers now focus on expanding their business in this region in order to increase their customer base and geographical reach.

Furthermore, Latin American countries such as Brazil is expected to provide appealing opportunities during the forecast period as a result of favorable government policies, large-scale privatization, and combating unfair competition and the seizure of counterfeit toys.

Inquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/6896

The kids toys market is segmented on the basis of product type, end-user, distribution channel, and region. On the basis of product type the market is categorized into building toys, figurine toys, sports & outdoor toys and others. On the basis of end users, the market is bifurcated into toys for boys, and toys for girls. On the basis of distribution channel, the market is categorized into hypermarkets/supermarkets, specialty stores, departmental stores, online channels, and others. On the basis of region, the market is classified into North America (the U.S., Canada, and Mexico) Europe (the UK, Germany, France, Italy, Sweden, Spain, Russia, the Netherlands, and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Thailand, Australia, New Zealand, and Rest of Asia-Pacific, and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Egypt, and Rest of LAMEA).

The players operating in the global kids toys industry have adopted various developmental strategies including but not limited to product launches, geographical expansion, and acquisitions to increase their kids toys market share, gain profitability, and remain competitive in the market. The key players included in the kids toys market analysis are - The key players included in the market analysis are - Atlas Games, Clementoni S.P.A., Famosa Toys, Goliath Games, Guangdong Hayidai Toys Co., Ltd., Hasbro, Inc., Mattel, Inc., Ravensburger AG, Reliance Industries Limited, Schuco Model., Simba Dickie Group., Thames & Kosmos, The LEGO Group, Tomy Company, Ltd and Vtech Holdings.

Buy Full Report Now: https://www.alliedmarketresearch.com/checkout-final/70ba4f389366bf1e7741c7d775a2a9e9

Key Market Findings

Based on product type, the figurine toys segment has the dominating kids toys market size in the year 2021 and is likely to remain dominant during the kids toys market forecast period

Based on the end user, the toys for boys segment dominated the global market in the year 2021 and is likely to remain dominant during the forecast period.

Based on the distribution channel, the specialty stores segment dominated the global market in the year 2021 and is likely to remain dominant during the forecast period

Based on region, the Asia-Pacific region dominated the global market in the year 2021 and is likely to remain dominant during the forecast period

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/consumer-goods
Follow Us on Blog: https://www.dailyreportsworld.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.