Kids Toys Market Size Booms, USD 65.8 Billion (2021) Estimated to USD 89.5 Billion by 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. The research report offers quantitative and qualitative analyses of the overall market environment, focusing on key investment opportunities, top market segments, value chain analysis, market dynamics, regional outlook, and the competitive landscape.

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Rise in interest of parents in their children regarding STEM educational toys and increasing application of AI due to digital progression in toys drive the growth of global kids toys market. Increased tariffs by various governments on Chinese goods are expected to hike prices for consumers, which in turn is expected to hinder the market growth to some extent. However, increase in local production is expected to create multiple opportunities for the key players in the industry.

Toys play an important role during the initial year of development of a child. Furthermore, various innovative products are now being introduced for this age group. An increase in retail penetration, the proliferation of specialty stores catering to this particular age segment, and the emergence of online channels have boosted the growth of the kids toys market. This age group contains a significant surge in the learning ability of a child. As a result, educational toys focusing on STEM are now being introduced across the globe. Furthermore, increase in STEM jobs worldwide have resulted in parents to create interest of their child in STEM educational toys. These toys teach kids to focus on the 4 subjects, Science, Technology, Engineering, and Math. A plethora of different STEM toys focusing on multifaceted disciplines, including but not limited to coding, engineering, chemistry, and mechanical toys are now being introduced to target this age group segment.

The increased number of games in bars and cafes around the world influence the kids toys market demand while also attracting many customers to such establishments. In recent years, these games in bars and cafes have gained significant popularity all across the globe. The rapid expansion of cafe games encourages both children and adults to learn new games while also connecting them for meaningful social interactions. A wide range of toys and games are now being produced to appeal to all age groups and to attract a new generation of customers to these cafes, bars, and other social interaction sites around the world. Such business models are common in Western European countries such as the UK and France, as well as in the North American region. In the U.S., for example, over 5,000 board game cafes opened in 2016. Furthermore, there are over 700 gaming cafes in China, with an additional 60 gaming cafes opening in Beijing alone in 2017. The increased number of these cafes that cater to both children and adults contributes to high revenues for the players in the global kids toys market.

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 unis e x toys, 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).

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Based on product type, the figurine toys segment contributed to the largest share of nearly two-fifths of the global kids toys market in 2021, and is expected to maintain its leadership in terms of revenue during the forecast period. This is because engaged stakeholders in the industry are launching new product lines in the action figure toys segment. Moreover, action figures from Marvel and DC franchise remain quite famous among kids across the globe. The others segment, however, is likely to show fastest CAGR of 4.2% from 2022 to 2031. Players in the field are developing innovative solutions by introducing minimal setup, safe, and hassle-free products. Innovative products made up of biodegradable material and colored using food coloring drive the growth of this segment.

Based on end user, the toys for boys segment garnered the highest share in 2021, holding around two-fifths of the global kids toys market revenue, and is expected to rule the roost during the forecast period. This is due to an action figures of well-known characters and toy cars are popular among young boys. These games can entertain kids and enhance their cognitive abilities. However, the unis e x toys segment is likely to show fastest CAGR of 3.8% from 2022 to 2031. As parents are becoming more open-minded and changing their traditional parenting styles, there is a growth in market for gender neutral toys.

Based on distribution channel, the specialty stores segment garnered the highest share in 2021, holding more than one-third of the global kids toys market revenue, and is expected to rule the roost during the forecast period. This is because they provide high-quality service and detailed product specification and expert guidance to costumers, also promote the sales of international as well as private label brands. However, the online channels segment is projected to witness a fastest CAGR of 4.5% during the forecast period. Through online retail, consumers can get products manufactured in other nations. Customers who need a product from a particular brand but don't have access to a physical store can easily buy it from online portals. Due to this factor, the online channel segment is gaining traction.

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.

Key players in the industry:

> GuangDong Hayidai toys Co.,Ltd.
> Atlas Games
> Clementoni S.p.A.
> Goliath Games, LLC
> Bella Luna Toys
> Giochi Preziosi SpA
> Simba Dickie Group GmbH>
> TOMY Company, Ltd.
> VTech Holdings Limited
> Reliance Industries Limited
> Ravensburger
> KIRKBI A/S
> Hasbro, Inc.
> Mattel, Inc.
> Thames & Kosmos, LLC.

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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.

Reasons to Buy This Kids Toys Market Report:

• Procure strategically important competitor information, analysis, and insights to formulate effective R&D strategies.
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Explore AMR's Extensive ongoing Coverage on Consumer and Goods Domain:

North America Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/north-america-kids-toys-market-A101512

U.S. Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/u-s-kids-toys-market-A101513

Canada Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/canada-kids-toys-market-A101514

Mexico Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/mexico-kids-toys-market-A101515

Europe Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/europe-kids-toys-market-A101516

UK Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/uk-kids-toys-market-A101517

Germany Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/germany-kids-toys-market-A101518

France Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/france-kids-toys-market-A101519

Italy Kids Toys Market Opportunity Analysis and Industry Forecast, 2021-2031
https://www.alliedmarketresearch.com/italy-kids-toys-market-A101520

Smart Toys Market Opportunity Analysis and Industry Forecast, 2024-2033
https://www.alliedmarketresearch.com/smart-toys-market

Pet Toys Market Opportunity Analysis and Industry Forecast, 2023-2032
https://www.alliedmarketresearch.com/pet-toys-market-A07037

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