PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334667
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1334667
Global Toys & Games Market is valued approximately USD 305.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.70% over the forecast period 2023-2030. Toys and games refer to a diverse range of objects and activities designed for entertainment, amusement, and play. They encompass physical objects, such as dolls, action figures, puzzles, board games, construction sets, and electronic toys, as well as activities that involve imaginative play, outdoor games, sports, and video games. Toys and games serve various purposes, including fostering creativity, promoting social interaction, developing cognitive skills, providing recreational enjoyment, and stimulating physical activity. They cater to individuals of different age groups and interests, offering a wide array of experiences that engage, entertain, and facilitate learning and enjoyment. The driving factors boosting the market are growing population of children and increasing disposable income of parents who can afford to buy different types of toys.
According to Statista, the global population of children were estimated to be approx. 1.98 billion and it is expected to reach approx. 2.03 billion in 2040, thus driving the market. Another factor driving the market growth is increasing disposable incomes that enable parents to spend more on toys and games for their children. As household incomes improve, consumers have greater purchasing power and are willing to invest in high-quality and innovative toys and games. Moreover, integration of technology such as augmented reality (AR) and virtual reality (VR) into toys and games is expected to create lucrative opportunities in the market. However, the availability of substitute products and intense competition among established players and new entrants stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Toys & Games Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of its strong consumer base with a high disposable income, growing emphasis on educational and STEM toys, and effective marketing and advertising campaigns. However, Asia Pacific is expected to become the fastest growing during the forecast period, owing to factors such as rising preference for educational toys beyond core skills, increasing awareness of early childhood development and education, and expansion of retail infrastructure, including shopping malls, toy stores, and e-commerce platforms.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable