The global traditional toys and games market to reach US$ 90 Bn in 2021, expanding at a 4% CAGR over the forecast period 2021-2031.
As nations implemented lockdown to limit the COVID-19 pandemic, the desire for conventional toys and games increased.
Some of the largest conventional toy and game businesses turned their attention to online sales channels as supply-chain disruptions continued to be a concern. In light of this, FMI expects the conventional toys and games market to expand by 2% annually between 2020 and 2021.
Surging demand for educational toys and games for toddlers is expected to augment growth of the traditional toys and games market. Educational toys are ideal for toddlers as they can help in stimulating the cognitive ability of children and improve their decision-making process.
Rising awareness regarding the significance of educational toys in children’s school curriculum will continue providing tailwinds to sales of traditional toys and games over the forecast period.
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In addition to this, growing trend of collecting action figures, toys, figurines, puzzles, and theme-based construction game sets among millennials is expected to augment growth of the market. To capitalize on this trend, manufacturers are investing in licensing and branding with premium franchises to launch such collectibles.
Key Takeaways:
- Sales of construction games are expected to continue gaining traction over the assessment period.
- Based on material, plastic traditional toys and games will continue dominating the market.
- Demand for traditional toys and games for children under the 3-4 years age group is expected to gain momentum.
- In terms of sales channels, online retail is expected to account for a dominant share of the global traditional toys and games market.
- The U.S. is anticipated to dominate the North America toys and games market due to growing demand for licensed toys and games among millennials.
- The U.K. will continue exhibiting high demand for traditional toys and games owing to growing popularity of technology-enabled toys.
- China will emerge as a lucrative traditional toys and games market due to the expansion of ecommerce and wide availability of products in the country.
- Japan and South Korea are expected to account for 35% and 21% of the total traditional toys and games market share over the forecast period.
Competitive Landscape
Dream International Limited, Hasbro, Inc., Jakks Pacific Inc., Mattel, Inc., Lego A/S, BANDAI NAMCO Holdings Inc., LeapFrog Enterprises, Inc., Spin Master Corp, Tomy Co., Ltd., Playmates Toys Limited, Games Workshop Group PLC, Kids Ii Inc., Madame Alexander Doll Company LLC, Mega Brands Inc., Melissa & Doug Inc., Funskool (India) Limited, Funko LLC, K’NEX Brands, L.P., Ravensburger AG, and MGA Entertainment, Inc. are among the leading players operating in the global traditional toys and games market.
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Leading players operating in the traditional toys and games market are aiming at product portfolio expansion by launching innovative products in the market. Apart from this, players are investing in licensing and branding of toys and games to gain a competitive edge in the market. For instance:
- In July 2021, LeapFrog Enterprises Inc., a global leader in innovative educational toys, launched its new collection of learning toys that feature curriculum-based content and important foundational skills.
- In October 2021, Spin Master Corp., launched the first collection as the global toy licensee for Riot Games’ ‘League of Legends’, the most-played PC game in the world.
Traditional Toys and Games Market by Category
By Product Type:
- Games/Puzzles
- Infants/Toddlers/Preschool Toys
- Plush
- Outdoor & Sports Toys
- Model Vehicles
- Dolls
- Construction sets
- Art and Crafts
- Remote control toys
- Educational toys
- Dress up and role play
- Ride on vehicles
By Material:
- Plastic
- Textile
- Metal
- Wood
By Age Group:
- 0-18 months
- 19-36 months
- 3-4 years
- 5-8 years
- 8-10 years
- 11-14 years
By Sales Channe:
- Hyper/Super market
- Online
- Franchised Outlets
- Departmental Stores
- Others (Discounters, variety stores)
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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