Discover Toys & Games Market Upcoming Trends, Growth Drivers And Challenges – Forecast To 2025|Grand View Research, Inc.


The global toys and games market size is expected to reach USD 139.2 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.6% over the forecast period. Rising number of online gaming tournaments across the globe is the key factor for the market growth over the forecast period. Over the past few years, increasing demand for in-licensing activities is booting the growth of market.
Growing demand for eco-friendly toys is also anticipated to increase the demand for the product in the upcoming years. Cardboard, organic cotton, and wood are the popular raw materials for the production of eco-friendly products. For instance, Green Toys are made from the recycled plastic milk bottles. The company has collaborated with Walmart, one of the largest retail chains of the world, for the distribution of the products.
Increasing participants of e-sports has also been a factor driving the market. For instance, in September 2018, Sony has launchedPlayStation Classic, an updated version of original Play station that comes with 20 preloaded games. This is expected to expand the consumer base of the market. Furthermore, innovative games such as PUBG and FIFA are gaining significant popularity among the adult players.
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The online segment is expected to expand at a CAGR of 5.1% over the forecast period. Due to increasing internet penetration in various countries, online selling channel has experienced significant growth in the last few years. Moreover, online retailers including Amazon and Flipkart are adding new toys and game products as their main category. According to studies, the sale of toys and games in U.S. accounted for more than 13% share of the overall U.S. retail e-commerce. The surge in sale is attributed to the effective measures taken by the e-retailer to gain customer’s loyalty. For instance, prime service launched by Amazon have gained customer loyalty, thus fueling the sale of toys and games through online channel.
Further key findings from the study suggest:
·         By product, video games are anticipated to ascend at a CAGR of 5.8% over the forecast period. The outdoor/sports segment was valued at USD 17.80 billion in 2018 and is projected to exhibit high growth in the next few years
·         North America held significant share of global toys and games market in 2018 and accounted for 14.0% share of the global revenue
·         Major players of the industry include Lego; Mattel Inc.; Namco Bandai; Hasbro; and Jakks Pacific
·         Various manufacturers are concentrating on new product launches, capacity expansion, and technological innovation to estimate existing and future demand patterns from upcoming product segments.
Online shopping is convenient for many customers, as online shopping is open 24/7 hours and customers can buy products from wherever they want. Online shopping also allows customers to compare different brands and then buy the products. This is compelling the manufacturers to focus on online selling of the toys and games according to the age group. This may lead to toys and games market growth in the upcoming years. Emergence of Internet of Things and internet penetration are anticipated to boost the growth of the global market.
Outdoor or sports held 17.5% share of overall revenue in 2018. Increasing awareness related to the benefits of outdoor activities among the parents is expected to provide growth opportunity for outdoor sports and toys over the forecast period. Outdoor sports activities keep kids and children active as well as help in increasing physical stamina and fitness. Furthermore, physical activities promote good health and overall wellbeing, as these activities increase muscle strength, improve immunity, and lower the risk of obesity and heart diseases.
Video games are expected to expand at a CAGR of 6.3% over the forecast period. In recent years, multiple number of players can play online gamessuch as Star Wars, which, in turn, is boosting the market growth. Advancement in the technology, coupled with increasing adoption of different software like AI processor and Internet of things, is improving the quality of the games and hence attracting more customers. Video game producers use software such as Deluxe and Nintendo, which are prominently used for games like Super Mario Bros, Infinity Wars and Activision, and Resident Evil series.
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Grand View Research has segmented the global toys and games market by product, application, distribution channel:
Toys & Games Product Outlook (Revenue, USD Billion, 2015 - 2025)
·         Puzzles
·         Preschool Toys
·         Outdoor/Sports
·         Dolls
·         Video Games
·         Others
Toys & Games Application Outlook (Revenue, USD Billion, 2015 - 2025)
·         0 - 8 Years
·         8 - 15 Years
·         15 Years & Above
Toys & Games Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
·         Offline
·         Online
15 years and above are the prominent users of toys and games. This application segment generated a revenue of USD 31.83 billion in 2018. Rise in the demand for action figures and video games is a major factor driving the segment. Moreover, the video games market is gaining pace, which would propel the overall toys and games market growth. For instance, according to survey, 77.63 percent of customers aged 18 to 29 years stated that they shopped for games/toys at a store and most of them buy video games and other outdoor games. Growing usage of smartphones has created a new opportunity for the manufacturers. This can be reason for the growth of the global market.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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