The global educational toy market is projected to increase from USD 56,312.10 million in 2024 to USD 139,554.30 million by 2034, driven by a robust CAGR of 9.50% over the next decade.
The educational toy market is driven by growing competition in the market by new startups. New entrants are deploying online platforms to promote learning through play. With an increasing number of parents seeking educational toys to boost their child’s learning abilities and foundational skills, value of the market is projected to increase.
According to a survey of parents by The Toy Association of the United States, 76% of parents wish their kids to join a STEAM (Science, Technology, Engineering, Arts and Mathematics) related profession later in life. Supporting this positive perception, STEM-related jobs are expected to expand 1.7X than non-STEAM jobs. Thus, a vast proportion of parents are seeking STEAM toys to encourage children in these fields.
Key Takeaways from the Educational Toy Market Report
- The United States educational toy market is anticipated to register a CAGR of 9.30% through 2034.
- In Western Europe, Germany stands out from the rest, and is expected to record a CAGR of 9.70% from 2024 to 2034.
- India is projected to expand at a CAGR of 10.10%, whereas China is anticipated to expand at a CAGR of 9.90% through 2034
- Australia is anticipated to record a relatively higher CAGR of 10.40% through 2034, than the other studied markets.
- Based on the product type, the games and puzzles segment is expected to hold a share of 19.90% in 2024.
- By sales channel, the toy stores segment is anticipated to acquire a value share of 26.70% in 2024.
Leading Players Planning to Stay Ahead
Key players are leveraging the well-established distribution network covering several countries. Additionally, leading merchants are using their reserves to market their products on social media and other digital platforms to reach more customers. Players are also seen investing in digitalization of their businesses to boost their visibility and ease their operations. Increasing rivalry in this market is projected to compel innovation and market advancement.
The latest developments in the educational toy market are as follows:
- In July 2022, Mattel and Elon Musk’s SpaceX collaborated to debut a line of space-themed toys under its Matchbox brand.
- In June 2021, Melissa & Doug reportedly announced the launch of Timeless Toys, which is a new marketing campaign. This move is intended to increase its visibility among parents and make them familiar with their products via digital platforms like YouTube, Hulu, and Amazon.
Prominent Companies in the Educational Toy Market
- The Lego World
- Hasbro
- Ravensburger
- Melissa & Doug
- Mattel
- Spin Master
- VTech Holdings Limited
- Osmo (by Tangible Play
- Sphero, Inc.
- MindWare, Inc.
- Fat Brain Toys, LLC.
- Others
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Key Market Segments Covered in Global Educational Toy Market Research
By Product:
- Building and Construction Sets
- Role Play Toys
- Art and Craft Kit
- STEM Toys
- Games and Puzzles
- Musical Toys/Instruments
- Others
By Age:
- Toddlers (1-3 years)
- Preschoolers (3-5 years)
- Kindergarten (5 years and above)
By Sales Channel:
- Online
- Offline
- Toy Stores
- Supermarkets and Hypermarkets
- Convenience Stores
- Others
By Region:
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Western Europe
- Eastern Europe
- Middle East and Africa
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