Market Study Report has added a new report on Toys and Games market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Toys and Games market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
Global Toys and Games Market to reach USD 388 billion by 2027. Global Toys and Games Market is valued approximately USD 275.75 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 5.0 % over the forecast period 2021-2027.
Major market player included in this report are:
- LEGO System A/S
- JAKKS Pacific Inc.
- Sony Interactive Entertainment Inc.
- NetEase Inc.
- Sanrio Company Ltd.
- Playmates Toys Ltd.
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Parents’ growing interest in green toys, the comeback of traditional toys and video games, knowledge of the cognitive advantages of building toys, and the exponential spread of mobile-based gaming are all contributing to the industry’s growth. Traditional leisure activities are projected to gain popularity among younger generations, thus driving the industry.
The rising popularity of old-school games during social gatherings among millennials and rising revival of vintage games is expected to drive market growth. Companies are frequently changing their product offerings by creating e-stores and selling items on e-commerce platforms such as Amazon, Walmart Online, and eBay, since online platforms have emerged as a viable and cost-effective alternative to traditional marketing and sales.
Due to the lockdown, people stayed at home and indoor games gained traction which affected the market positively. The toy firms of Curtis McGill and Scott Houdashell rely on sales during the crucial two weeks leading up to Easter for the majority of their profits. In March 2020, their Amazon sales grew by 4,000 percent year over year, while their Walmart in-store sales grew by 100 percent. Ravensburger, a puzzle manufacturer, also saw an increase in sales in March 2020.
Sales of puzzles in the United States grew by 370 percent year over year in the final two weeks of March 2020, according to a business spokesperson, and sales were 10 times more than the same day in 2019. However, Toy and game sales were largely driven by online shopping of items during the epidemic. However, owing to delays in the release of highly anticipated films such as ‘Trolls World Tour’ and ‘Top Gun: Maverick,’ toys, collectibles, and other items based on the characters of these films that had already reached merchant stores saw little or low sales. As a result, it had a negative influence on market growth in the medium term.
The main regions of Asia Pacific, North America, Europe, Latin America, and the Rest of the World are included in the geographical analysis of the worldwide Toys and Games market. In 2020, Asia Pacific had the biggest market share, accounting for nearly 40.0 percent. Companies have increased their reach in nations such as China and Japan by improving e-commerce or building new shops.
In 2020, for instance, Lego will open 134 retail locations, including 91 of them in China. There are now 678 Lego-branded stores worldwide, with plans to add another 120, including 80 in China. The objective is to open over 300 Lego stores in China by the end of 2021. North America had the second-largest proportion in 2020. Downloads spiked in March 2020 after the US issued shelter-in-place orders, leading in an increase in downloads across all genres, including hypercasual, puzzle, simulation, and lifestyle.
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 eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Mode of Operation offerings of key players.
The detailed segments and sub-segment of the market are explained below:
15 age & above
Outdoor & sport toys
Games & puzzles
By Distribution Channel:
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Toys and Games Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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