Press release
Toys Market is Projected to Grow Expeditiously: to Reach USD 103.8 Billion by 2027, Report
Increase in demand for strategy-based & educational based toys among the children and aggressive marketing strategy of online platforms drive the growth of the global toys market. However, the increased tariffs on Chinese goods as china is the major exporter of toys hinder the market growth. Contrarily, supportive government initiatives to promote local production present new opportunities in the next few years.
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The report provides detailed segmentation of the global toys market based on product type, age group, sales channel and region.
Based on product type, the sports and outdoor toys segment contributed to nearly one-fifth of the total market share in 2019, and is estimated to continue its lead position during the forecast period.However, the action figures segment is projected to portray the highest CAGR of 5.6% from 2021 to 2027.
By sales channel, the specialty stores segment held aroundone-third of the total share of the global toys market in 2019, and is estimated to maintain its dominance in terms of revenue throughout the forecast period.However, the online channels segment is projected to portray the highest CAGR of 4.5% from 2021 to 2027.
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Based on region, North America contributed to the highest market share in 2019, accounting for more than one-third of the total share, and will maintain its leadership status by 2027. On the other hand, Asia-Pacific is expected to witness at the highest CAGR of 5.4% during the forecast period.
Leading players of the global toys market analyzed in the research include Atlas Games
Goliath Games
Clementoni S.p.A.
The LEGO Group
Hasbro, Inc.
Ravensburger AG
Mattel, Inc.
Vtech Holdings
Tomy Company, Ltd.
Thames & Kosmos
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Key Findings Of The Study
By region, Asia- is anticipated to grow with robust CAGR of 5.4% during the forecast period.
By product type, the sports and outdoor toys segment led in terms of toys market share, in 2019; however action figure segment is expected to gain market share in the upcoming years.
By age group, the 5 to 10 Years segment accounted for about two-fifth share of the toys market in 2019; however, the children toys market segment is poised to grow at the highest CAGR during the forecast period.
By sales channel, the online channels segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 4.5% during the toys market forecast period.
Know More- https://www.globenewswire.com/en/news-release/2021/01/11/2156416/0/en/Global-Toys-Market-to-Reach-103-8-Billion-by-2027-Allied-Market-Research.html
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