In 2022, the global games and puzzles market reached a size of US$ 15.1 billion, with expectations to rise to US$ 18.0 billion by 2033. Forecasts suggest that global sales of games and puzzles will experience a significant surge at a compound annual growth rate (CAGR) of 17.3% throughout the forecast period. Key statistics indicate that the total market size for games and puzzles is projected to reach US$ 88.8 billion by 2033.
Games are expected to remain highly sought-after, by type, in the market through 2033. This is because they offer more interactive and immersive experiences than puzzles. The target segment is expected to progress at a robust CAGR of 17.2% during the assessment period.
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The Key Highlights of Games and Puzzles Market
- Growing Market Size: The games and puzzles market is experiencing a notable increase in size, with significant growth observed in recent years.
- Rising Demand: There is a surge in demand for games and puzzles, driven by various factors such as increasing popularity among consumers of all ages and the emergence of new gaming trends.
- Diverse Product Offerings: The market offers a wide range of games and puzzles catering to different interests, preferences, and age groups, including traditional board games, digital games, jigsaw puzzles, and brain teasers.
- Technological Advancements: Advancements in technology have led to the development of innovative gaming platforms, augmented reality (AR) games, and interactive puzzle apps, enhancing the overall gaming experience.
- Educational Value: Many games and puzzles are designed not only for entertainment but also for educational purposes, fostering cognitive skills, problem-solving abilities, and social interaction among players.
- Global Reach: The games and puzzles market has a global reach, with players and enthusiasts spanning across various regions and cultures, contributing to its widespread popularity and growth.
Games and puzzles provide entertainment while fulfilling an educational role. They can improve the cognitive behavior of people, increase creativity, and stimulate creativity. Today, parents spend large amounts on purchasing games and puzzles for their children.
Games and puzzles can also improve social skills and connections as they can be played with friends and family. They provide a safe and supportive environment for people to socialize and interact with others.
“Growing awareness about the potential benefits of games and puzzles on human health, intellect, and skill development is expected to drive the target market forward during the forecast period. To gain maximum profits, key players are continuously developing new products made from eco-friendly materials.” – says a lead analyst at Future Market Insights (FMI)
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Who is Winning?
- Buffalo Games
- Hasbro, Inc.
- Mattel, Inc.
- Ceaco, Inc.
- Ravensburger AG
- Schmidt Spiele
- Cubicfun 3D Puzzle
- Educa Borras
- Castorland
- Cobble Hill
are few of the key manufacturers of games and puzzles listed in the report.
These key players are constantly introducing novel solutions into the market to increase their customer base and revenues. They also adopt strategies, such as collaborations, partnerships, mergers, and acquisitions, to solidify their market positions.
For instance,
- In July 2022, Hasbro Gaming and New York Times Games introduced The Party Game. This new board game is intended to bring Wordle to life.
- In 2023, new jigsaw puzzles and board games were launched by Gibsons Games Ltd.
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Segmentation in Games and Puzzles Market Research Report
Games and Puzzles Market by Type:
- Games
- Board Games
- Card Games
- Puzzles
Games and Puzzles Market by Licensing:
- Non-Licensed
- Licensed
Games and Puzzles Market by Distribution Channel:
- Online
- Offline
Games and Puzzles Market by Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and 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.
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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