GCC Toys Market Set to Experience a Massive 11.8% CAGR During 2024-2032

The latest report published by IMARC Group, titled "GCC Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", offers a comprehensive analysis of the industry, which comprises insights on GCC toys market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The GCC toys market size is projected to exhibit a growth rate (CAGR) of 11.8% during 2024-2032.

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Factors Affecting the Growth of the GCC Toys Industry:

• Increasing Young Population:

Countries like Saudi Arabia, the United Arab Emirates, and others in the region have a relatively high percentage of their population under the age of 15. This young demographic is a primary consumer base for the toy industry. The young population in the GCC is not only large but also growing, due to relatively high birth rates in the region. This growth ensures a sustained market for children's toys, as there is always a new cohort of children coming of age to be the target for the latest toys and games. The preferences of this demographic are diverse, necessitating constant innovation and adaptation by toy manufacturers and retailers.

• Rise in Disposable Incomes:

The GCC region, known for its oil wealth, has some of the highest per capita incomes in the world. This economic prosperity has led to increased disposable incomes among a large segment of the population. Higher disposable income translates into greater spending power, which directly benefits the toys and games industry. With more money to spend, parents in the GCC are willing to invest in higher-quality, branded, and often more expensive toys for their children. This trend is not just limited to traditional toys but extends to electronic games, educational software, and luxury play items. The rise in disposable income also aligns with the growing demand for eco-friendly and sustainable toys, as consumers become more conscious of environmental issues and are willing to pay a premium for products that align with these values.

• Globalization and Digital Transformation:

Globalization and digital transformation have had a profound impact on the GCC toys industry. The integration of global markets means that children in the GCC are increasingly exposed to international toy brands and trends. This exposure has led to a diversification of the toy market in the region, with a growing appetite for international toy brands alongside local products. Digital transformation, on the other hand, has revolutionized how toys are marketed and sold. E-commerce platforms have become increasingly popular for toy purchases, offering convenience and a wider range of options for consumers. This digital shift has also enabled local toy retailers and manufacturers to expand their reach beyond physical stores, tapping into a broader market.

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GCC Toys Market Report Segmentation:

Product Type Insights:

• Action Figures
• Building Sets
• Dolls
• Games and Puzzles
• Sports and Outdoor Toys
• Plush
• Others

Based on the product type, the market is divided into action figures, building sets, dolls, games and puzzles, sports and outdoor toys, plush, and others.

Age Group Insights:

• Up to 5 years
• 5 to 10 years
• Above 10 years

On the basis of age group, the market is categorized into 5 years, 5 to 10 years, and above 10 years.

Sales Channel Insights:

• Supermarkets and Hypermarkets
• Specialty Stores
• Department Stores
• Online Stores
• Others

Based on the sales channel, the market has been classified into supermarkets and hypermarkets, specialty stores, department stores, online stores, and others.

Country Insights:
• Saudi Arabia
• UAE
• Qatar
• Oman
• Kuwait
• Bahrain

On the basis of country, the market is divided into Saudi Arabia, the UAE, Qatar, Oman, Kuwait, and Bahrain.

GCC Toys Market Trends:

The global market is primarily driven by rising consumer preferences and trends. As global exposure increases, children and parents in the GCC are becoming more discerning in their toy choices. Additionally, the rapid expansion and modernization of retail infrastructure in the GCC region significantly drive the toy market. Moreover, the growing YouTube and other social media platforms, where influencers and content creators showcase toys, unboxings, and reviews, also drive market trends.

Furthermore, promoting government policies and initiatives in the GCC region also plays a crucial role in driving the toys market as many GCC countries are diversifying their economies and reducing their reliance on oil revenues. In line with this, the increasing participation of women in the workforce in the GCC has indirect but notable implications for the toy industry as more women work, household incomes rise, leading to increased spending capacity for discretionary items like toys which is propelling the market growth for this product.

Key highlights of the report:

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Browse Related Reports of IMARC Group:

Global Toys Market: https://www.imarcgroup.com/toys-market

Europe Toys Market: https://www.imarcgroup.com/europe-toys-market

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