Find Out More About Construction Toys Market Global Growth With Rising CAGR And Forecast Till 2025|Grand View Research, Inc.



The global construction toys market size is expected to reach USD 19.64 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 9.5% during the forecast period. Rising focus on cognitive development of kids among both parents and educational institutions is expected to expand the scope of construction toys.
Major universities and scientific research institutes from across the globe emphasis on the use of these products as tools for improving mental health. For instance, in February 2018, the University of Colorado published a research paper on the positive effect of construction toys on spatial skills. Many toy companies have been launching products specific to age, gender, and interest of the kid.
Construction toys help develop imagination, creativity, and attentiveness among children. Along with keeping them engaged, they also improve their problem-solving skills, logical thinking, hand-eye coordination, and memory. For instance, magnetic construction kits are considered very helpful for children as they are easier to connect compared to the conventional products. Rapid R&D in terms of innovation for introduction of new toys is projected to create growth opportunities for the global market.
Some of the key players include K’NEX (Basic Fun, Inc.); Tegu; Mattel; Spin Master Ltd.; The LEGO Group.; PlayMonster LLC.; KnuckleStrutz; Magformers; Schylling Inc.; Nanoblock; and Polydron (UK) Limited. The companies are rapidly innovating their product line, by modifying them to closely replicate real life scenarios and recent events.
Major film production companies are entering the market through partnerships. In January 2018, Universal Studios and LEGO entered into a partnership, post which the LEGO offered a broad line of 13 new construction sets based on the Jurassic World. The product line comprises LEGO Blue's Helicopter Pursuit, LEGO JuniorsT. RexBreakout, LEGO DUPLOT. rex Tower, and LEGO BrickHeadz.
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In May 2019, LEGO announced the launch of LEGO City Space, themed after 50 years of NASA. Multiple new sets are being released which include, Satellite Service Mission, Rover Testing Drive, Mars Research Shuttle, Lunar Space Station, Deep Space Rocket and Launch Control, Rocket Assembly & Transport, and People Pack—Space Research and Development. In April, 2019 the company also announced the upcoming launch of LEGO Brail Bricks for blind and visually impaired children. The regular bricks have been molded with studs for numbers and alphabets. The set consists of 250 pieces covering digits, mathematical symbols, and alphabets.
Further key findings from the report suggest:
·         Bricks and blocks accounted for more than 50% of the global revenue share in 2018
·         Polymer-based products is expected to expand at the fastest CAGR of 10.0% from 2019 to 2025
·         North America reported a global revenue share of more than 30% in 2018
·         Online distribution channel is expected to exceed USD 5 billion by the end of 2025
·         Major players operating in the construction toys market are The LEGO Group.; Tegu; Spin Master Ltd.; Schylling Inc.; Polydron (UK) Limited; PlayMonster LLC.; Nanoblock; Mattel; Magformers; KnuckleStrutz; and K’NEX (Basic Fun, Inc.)
Parents and educationists are more aware regarding the quality and materials used for construction toys. Majority of toy makers advocate plastics to be completely safe for kids based on account of its water resistance and low level of toxicity. Toys containing Bisphenol A, PVC, and plasticizers including adipates and phthalates as constituents are not suitable for kids and can have serious adverse effect on their health. Regulatory authorities in many countries including India, Germany, and Sweden have imposed ban on the use of these materials in toys. Growing awareness among parents and education authorities is forcing the toy manufacturers to avoid the aforementioned plastic materials.
Over the last few years, research studies regarding child psychology and cognitive development have time and again emphasized on the role of construction toys on improving children’s cognitive flexibility. These toys stimulate problem solving ability. During the task of putting together pieces to replicate a certain structure, the children are stimulated to come up with unique solutions, which plays a critical role in their cognitive development. In addition, such games also help improve social skills, cooperation, and team player acumen.
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Bricks and blocks accounted for the largest market share of more than 55% in terms of revenue in 2018. The steady growth of the segment can be attributed to the rising consumer preference for the toy that keep the kids engaged for long durations. Moreover, the manufacturers have been innovating the toy sets to include newer designs, replicating real life scenarios and creating awareness among kids. In February 2019, LEGO launched new product sets replicating 50 years of NASA’s achievements.
Tinker toys is expected to register the fastest CAGR of 10.0% from 2019 to 2025. These products are more challenging and they provide a broader scope of construction. The presence of components such as wheels, caps, couplings, pulleys, and sticks stimulate creativity and logical thinking.
Grand View Research has segmented the global construction toys market on the basis of product, raw material, distribution channel:
Construction Toys Product Outlook (Revenue, USD Million, 2015 - 2025)
·         Bricks & Blocks
·         Tinker Toy
·         Others
Construction Toys Raw Material Outlook (Revenue, USD Million, 2015 - 2025)
·         Wood
·         Polymer
·         Metal
·         Others
Construction Toys Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
·         Supermarkets & Hypermarkets
·         Convenience Stores
·         Online
Wooden construction toys held a market share of more than 35% in 2018. These products are expected to gain popularity as they are completely safe for kids on account of being completely non-toxic. Wood-based products have excellent texture and colors inviting and kindling the kids with curiosity. These products can sustain for generations due to the durability of the material, which is anticipated to bode well for the segment growth.
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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