The global traditional toys and games market was estimated to be worth US$ 93,847.9 million in 2022, with the growing popularity of building toys among adult children contributing significantly to this upward trend. As a result, the market is expected to reach US$ 139,013 million by 2033, propelled by a Compound Annual Growth Rate (CAGR) of 3.6% from 2023 to 2033. This sustained growth reflects the enduring appeal of traditional toys and games, driven by their educational and developmental benefits for children of all ages. As the market continues to evolve, opportunities abound for innovation and expansion within the industry.
The term “traditional toys and games” relates to the kind of games that have historically been played within a community because it is thought that involvement affords people the opportunity to engage in socially significant behavior. These games are not well developed technologically.
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One of the key elements fueling the expansion of the conventional toys and games business is the growth of the various movie franchise industry on a global scale. Concerns about the widespread use of smartphones and digitalization, together with a rise in the use of various learning techniques, have a further impact on the market.
The traditional toys and games business is also positively impacted by clever strategic marketing initiatives, lifestyle changes, and an increase in disposable money. The market participants have more lucrative prospects thanks to product innovations throughout the projected period of 2023 to 2033.
The primary tactic employed by toy companies to draw in kids is to capitalize on well-liked films and animated characters like Spiderman, Superman, Ironman, and Doraemon. Construction toys are also the market leaders since they help kids grow their brains and teach them new teaching strategies.
Traditional toy and game manufacturers must adapt to the online environment in order to remain relevant to youngsters. More time spent online by kids, particularly on mobile devices, is predicted to limit the growth of the industry under consideration.
Growth Drivers:
- Innovation and Product Development: Continuous innovation in traditional toys and games, including new designs, themes, and features, attracts consumers and drives market growth. Companies invest in research and development to create products that resonate with changing consumer preferences.
- Nostalgia and Retro Trends: Nostalgia for classic toys and games among adults, coupled with parents’ desire to introduce their children to toys they grew up with, fuels demand for traditional toys. Retro trends also contribute to the resurgence of iconic toy brands and products.
- Parental Concerns: Growing concerns over excessive screen time and the impact of digital devices on children’s development prompt parents to seek alternative forms of entertainment. Traditional toys and games offer tangible, hands-on experiences that promote creativity, imagination, and social interaction.
- Educational Value: Many traditional toys and games are designed to be educational, helping children develop essential skills such as problem-solving, spatial awareness, and fine motor skills. Parents value toys that offer both entertainment and educational benefits, driving sales in this segment.
- Collectibles and Limited Editions: Collectible toys and limited-edition releases create a sense of exclusivity and drive excitement among consumers. Manufacturers often leverage this demand by releasing special editions or collaborating with popular franchises, resulting in increased sales and brand visibility.
- Emerging Markets: Growing disposable incomes in emerging markets, along with increasing awareness of the importance of play in child development, present significant opportunities for market expansion. Toy companies are tapping into these markets by offering a diverse range of products tailored to local preferences.
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Key Takeaways from the Market Study
- The market share for construction games climbed to 17.2% in 2022, while sales of conventional games and toys grew at a 3.3% CAGR between 2018 and 2022.
- In 2022, the market share of the hypermarket/supermarket sales increased to 25.6%.
- Through 2033, North American conventional toy and game sales are anticipated to increase at a 2% CAGR.
- Over the course of the assessment period, the traditional toys and games market in Europe is anticipated to grow at a 4.7% CAGR.
- With a CAGR of over 7% forecast over the assessment period, China is predicted to rank it as an appealing market.
“Parents are increasingly pushing their children to purchase outdoor and sports toys due to the rising rates of youngster obesity along with various health issues in several nations throughout the world. Constructive toys are also in high demand, mostly due to the significant cognitive as well as intellectual benefits they provide children of all ages,” remarks an FMI analyst.
Competitive Landscape
The leading traditional toy and game manufacturers are concentrating on growing their product range by introducing fresh items via online sales channels. Major players in the market for conventional toys and games are working to expand their worldwide footprint through strategic alliances, mergers, and acquisitions.
Prominent players in the traditional toys and games market are:
- 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
- MGA Entertainment, Inc.
Some key developments of the leading companies in this market are:
- JAKKS Pacific, Inc., a major toy as well as consumer products producer, introduces Ami AmisTM, a collection universe of knitted plush buddies that will be available nationwide at Walmart beginning in 2023. Ami AmisTM is a delightful universe filled with warm, knitted characters. All of life’s pleasures serve as inspiration for their plush pals- nostalgia, food, music, and animals.
- According to toy firm Funskool India, the India Toy expo, India’s first virtual toy expo, featured 15 new traditional Indian toys and games in 2022. The traditional Indian games such as Kho-Kho, Kabaddi, Chaturanga, as well as Gilli Danda have been turned into board games by Funskool.
Key Segments Profiled in the Global Traditional Toys and Games Market
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 to 18 months
- 19 to 36 months
- 3 to 4 years
- 5 to 8 years
- 8 to 10 years
- 11 to 14 years
By Sales Channel:
- Hyper/Supermarket
- Online
- Franchised Outlets
- Departmental Stores
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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