NEW YORK, Nov. 8, 2022 /PRNewswire/ — Technavio categorizes the global toys and games market as a part of the parent leisure products market, covering a variety of categories, including musical instruments, sports equipment, recreational vehicles, camping equipment, toys, bicycles, and other consumer-oriented games. Our research report has extensively covered external factors influencing the parent market growth during the forecast period. The Global Toys and Games Market share is set to increase by USD 70.12 million from 2022 to 2027. Moreover, the market’s growth momentum will accelerate at a CAGR of 8.1% as per the latest market forecast report by Technavio. The market will also record a 6.9% YOY growth rate during the forecast period.
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Our report analyzes the Life Cycle of the Global Toys and Games Market from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the global toys and games market, focusing on the adoption rates of the major countries such as the US, China, India, Germanyand the UK. To help companies evaluate and develop growth strategies for 2022-2027. Our researchers have included –
- Key purchase criteria
- Adoption rates
- Adoption lifecycles
- Drivers of price sensitivity
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Vendor Landscape – The global toys and games market is fragmented. The market is expected to fragment further during the forecast period. Vendors follow some criticality of inputs to compete in the market, including labor, CAPEX, and research and development (R&D). They invest significantly in building infrastructure suitable for manufacturing toys and games and focus on building brand and brand equity to differentiate themselves. Manufacturers strategize their product advertisements to attract consumers by highlighting the features of newly launched products, which helps manufacturers gain a competitive advantage. Vendors differentiate themselves based on regulatory compliance, quality, and innovation and offer products with various features and applications. The price differentiation among these vendors is low due to similar product offerings and growing competition. Some of the key vendors in this market include 4M Industrial Development Ltd., Atlas Games, Clementoni Spa, Elenco Electronics Inc., and Franckh Kosmos Verlags GmbH & Co. KG.
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Technavio’s market research report entails detailed information on regional opportunities in store for vendors, which will assist in generating sales revenues. The Global Toys and Games Market as per geography is categorized into North America, EuropeAPAC, South Americaand the Middle East and Africa. The report provides an accurate prediction of the contribution of all regions to the growth of the Global Toys and Games Market size and actionable market understanding.
- Regional Highlights – North America is the fastest-growing region in the global toys and games market compared to other regions. 31% of the market’s growth will originate from North America. The demand for traditional toys and games is expected to increase during the forecast period owing to numerous licensing opportunities in the US. Consumers are shifting their focus toward scientific and educational toys, which is increasing the demand for premium toys.
- Revenue Generating Segment Highlights – The Global Toys and Games Market as per product segmentation is categorized into Activity and Ride-on Toys, Infant and Preschool Toys, Games and Puzzles, Plush Toys, and Others. The toys and games market share growth by the activity and ride-on toys segment will be significant during the forecast period. These toys mainly include sport, outdoor, and model vehicle toys. Ride-on toys help in improving the mobility of infants. The advantages of such toys are driving the growth of this segment.
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- Major Driver – The growth of the middle-class population and the increasing disposable incomes are driving market growth. The rising disposable income has led to an increase in consumer purchasing power and living standards, particularly in developing countries such as India and China.
- Major Trend – The emergence of three-dimensional (3D) printing is a trend in the market. 3D printers are expected to become more affordable over the coming years. Many players are introducing 3D printing tools for building and modifying toys at home. Such innovations will propel the growth of the market during the forecast period.
- Major Challenges – The seasonal demand and the short life of merchandise and collectibles may challenge market growth. The demand for these products does not remain fixed and is subject to changing consumer needs. Hence, merchandise purchasing becomes very challenging.
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- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist the toys and games market growth during the next five years
- Estimation of the toys and games market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the toys and games market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the toys and games market vendors
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Toys And Games Market Scope