In 2022, the kids recreational services market was valued at US$ 1473.65 billion. Forecasts suggest it will skyrocket to US$ 106159.24 billion by 2032, representing a remarkable Compound Annual Growth Rate (CAGR) of 53.4% throughout the forecast period.
The Kid’s recreational services nurture kid’s body and mind with refreshment and enjoyment through the various activities such as play, artistic activities etc. These recreational services are responsible for developing the imagination, self-confidence, nourishment and creativity of kids.
These services also help to evolve the emotional, physical and social skills of the children. While doing this, they learn to recognise and build their social position surrounded by the world.
These recreational services empower children to renovate the culture through their own imaginative and creative activities such as painting, puppetry, play, dance, animation, songs, games, street theatre, festivals, stories and many more.
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It has been seen that working parents spend only 1 to 2.5 hours with their children in a day because of their busy schedule. Many working parents do not get sufficient time to be with their children and in such situation, the recreational activity is the best way to keep children busy with.
Kids love to go to amusement park and playing with toys. The size of the global toy market was around 84 billion U.S. dollars in 2012 and the market for amusement theme park grew by 5.2% between 2011 and 2012 and expected to show constant growth. Kid’s recreational services also provide adaptive and accessible sports and recreation programs that are designed for the people with disabilities.
Adaptive and accessible programs help children with disabilities to gain self-confidence and to develop physical and social skills. Along with these incredible benefits there are some disadvantages: – managing balance between schoolwork and recreational activities can be stressful for children sometime especially when they have to complete their homework, sometimes, children get less time with their families.
Kid’s recreational services can be segmented by type and by age group. On the basis of type, kid’s recreational services can be segmented as indoor recreational services and outdoor recreational services.
Indoor recreational services includes activities such as Pencil-and-paper games, Card games, Puzzles, Board and family games, Indoor hopscotch, Treasure hunt, Indoor bowling etc. Whereas outdoor recreational services include activities such as Backyard Camping, Stargazing, River Rafting, Gardening, Water games etc. On the basis of age, kid’s recreational services can be segmented as, recreational activities for the age group 1-2, 3-6, 6-10 and 11-14.
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Presently Kid’s recreation is one of the globally increasing trend. The factors which promote the growth of this market are, kid’s participation in hobbies, cultural art and interest group, increased holidays, effective exercises for overweight kids and lot more.
Competitive Analysis:
These key players device various strategies such as offering innovative and enjoyable recreational services for kids for instance, in 2014, Disney debuted a new innovative technology driven learning approach to early learning with Disney Imagicademy, attractive play equipment and toys such as gingerbread story book, snowman story book, football etc., arrangement of various camps such as summer camps, winter camps and March break camps, offer various creative and enjoyable events such as birthday parties with lots of fun game, creative exercises for kids such as dancing and singing.
Other strategy of these key players includes partnership, for instance, partnership of momstown.ca with Hogg Mechanicals, also momstown.ca hosts sleep themed baby basics in partnership with Walmart, Little Kickers in partnership with Mitre on kit and equipment manufacture, Little Kickers in partnership with Ellerslie AFC who offers junior football program and many other strategies which enable these companies to be one of the leading player in kid’s recreational activities.
The research report presents a comprehensive assessment of market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data and projections with suitable set of assumptions and methodology. Research report provides analysis and information by categories such as market by types and by age group.
Report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
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Regional analysis includes
- North America
- Latin America
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- Eastern Europe
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across value chain.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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