Kids Toys Market Size Report Analysis and Forecast 2030

Coverage: Kids Toys Market covers analysis By Product Type (Building Blocks, Figurines and Dolls, Soft Toys, Puzzles and Board Games, and Others), Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography

Publication Month : Dec 2023

  • Report Code : TIPRE00030301
  • Category : Consumer Goods
  • Status : Upcoming
  • No. of Pages : 150
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[Research Report] The Kids Toys market is expected to grow from US$ 122.90 billion in 2022 to US$ 183.15 billion by 2030; it is expected to record a CAGR of 5.1% from 2022 to 2030.

Market Insights and Analyst View:

Increasing disposable income in many regions allows parents and their families to spend more on toys for their children. Innovations in toys, such as smart toys and augmented reality games, attract tech-savvy parents, other family members, and caretakers. Parents' emphasis on educational toys that promote learning and development among children is a significant driver fuelling the kids toys market. The rise of e-commerce platforms provides a convenient way for consumers to purchase toys globally. Also, toys based on popular movies such as Spiderman, the Hulk, Barbie, and Marvel movies, TV, and game franchises attract a broad customer base. Thus, a rising preference for character-based toys is expected to become a significant trend during the forecast period in the kids toys market.

Growth Drivers and Challenges:

Innovations and technology are pivotal in driving the kids toys market growth. With advancements in technology, toys have become more interactive and educational. Smart toys, incorporating components such as artificial intelligence, sensors, have gained popularity, especially in the building blocks and board games segments. These innovative features enhance children's learning experiences, making these toys highly sought by parents. Moreover, consumer preferences and trends significantly impact the market. For instance, popular media often influences figurines and dolls, such as movies and TV shows. Children tend to gravitate towards toys featuring their favorite characters, driving the demand for specific figurines and dolls. Soft toys, on the other hand, are often chosen for their enduring popularity among younger children. Safety and sustainability have also become crucial factors in consumer's purchasing decisions. Parents are increasingly concerned about toy materials and their environmental impact. Toys made from eco-friendly materials and adhering to stringent safety standards gain trust among consumers, influencing their choices across all market segments.

Over the past few years, cultural factors have also shaped the demand for toys. Different cultures have varying traditions and preferences, leading to diverse toy choices. Understanding these cultural nuances is essential for toy manufacturers to effectively tailor their products to specific markets.

Strategic Insights

Report Segmentation and Scope:

The "Global Kids Toys Market" is segmented on the basis of product type, distribution channel, and geography. Based on product type, the kids toys market is segmented into building blocks, figurines and dolls, soft toys, puzzles and board games, and others. The kids toys market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others based on distribution channels. The kids toys market, based on geography, is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Chile, and the Rest of South & Central America).

Report Segmentation and Scope:

Segmental Analysis:

Based on product type, the kids toys market is segmented into building blocks, figurines and dolls, soft toys, puzzles and board games, and others. The increasing disposable income of parents in emerging economies fuels the demand for higher quality and educational toys, stimulating kids toys market growth. Additionally, the rising awareness of the importance of early childhood education encourages the purchase of toys that enhance cognitive skills, such as puzzles and board games. Moreover, advancements in technology have led to innovative and interactive toys, attracting technologically preferred parents and children alike. Social factors, such as changing lifestyles and preferences, also play a significant role, with families seeking toys that promote family bonding and social interaction, making board games and puzzles popular choices. Hence, all the above-mentioned factors propel the growth of the kids toys market.

Regional Analysis:

Based on geography, the kids toys market is segmented into five key regions—North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. The global kids toys market was dominated by North America. North America is one of the significant markets for kids toys owing to the unique preferences and demand regarding toys among the parents and children. Building blocks have remained popular due to their educational benefits, fostering creativity and motor skills in children. Parents often prefer toys that promote learning while being enjoyable, contributing to the sustained demand for building blocks in the market. Figurines and dolls, on the other hand, cater to kids imaginative play, allowing them to create stories and scenarios. Licensed figurines drive this segment; kids are drawn to characters they recognize and adore. Soft toys hold a timeless appeal, offering comfort and companionship to young children. Factors such as safety standards, material quality, and eco-friendly options have become crucial considerations for parents, leading to innovations in this segment. Additionally, the emotional connection associated with soft toys makes them a popular option, ensuring their consistent demand in the kids toys market. Puzzles and board games have experienced a resurgence, driven by the growing emphasis on cognitive development and family bonding activities. With the rise of board game cafes and social gaming events, families are increasingly seeking interactive and intellectually stimulating toys, contributing to the growth of the kids toys market worldwide.

Industry Developments and Future Opportunities:

Various initiatives taken by the key players operating in the kids toys market are listed below:

1. In May 2022, Funskool India launched a wide range of toy categories such as board games, puzzles, infants & preschool, and dough. The product offerings comprise a 3 in 1 deluxe play gym, combo packs of mini vehicles for toddlers, board games such as Goats and Tigers, Mancala, 9 in 1, and other products such as handicrafts, fun dough, and puzzles for young children.

2. In July 2020, MGA Entertainment Inc. launched rainbow, high-fashioned dolls in the US.

3. In September 2020, Zuru partnered with Fanbytes, on mini brands TikTok House, to bring miniature versions of households in the UK and Ireland.

COVID-19 Impact:

The COVID-19 pandemic affected economies and industries in various countries. Travel bans, lockdowns, and business shutdowns in leading countries in North America, Europe, Asia Pacific (APAC), South & Central America (SAM), and the Middle East & Africa (MEA) negatively affected the growth of various industries, including the consumer goods, food & beverages. The shutdown of manufacturing units disturbed global supply chains, delivery schedules, manufacturing activities, and sales of various essential and nonessential products including kids toys. Various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various governments in Europe, Asia, and North America on international travel forced the companies to put their collaboration and partnership plans on a temporary hold. All these factors hampered the toys industry in 2020 and early 2021, thereby restraining the growth of the kids toys market.

Competitive Landscape and Key Companies:

KIRKBI A/S, Mattel, Inc., Hasbro, Inc., Clementoni S.p.A., Goliath Games, LLC, Atlas Games, Giochi Preziosi SpA, Bella Luna Toys, TOMY Company, Ltd., Simba Dickie Group GmbH are among the prominent players operating in the global kids toys market. These kids toys manufacturers offer modern and hi-tech variety products in kids toys with innovative features to deliver a superior experience to kids.

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  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

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to country scope.

2.Mattel, Inc
3.Hasbro, Inc
4.Clementoni S.p.A
5.Goliath Games
6.LLC, Atlas Games
7.Giochi Preziosi SpA
8.Bella Luna Toys
9.TOMY Company Ltd
10.Simba Dickie Group GmbH

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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