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Written by Elena Anderson » Updated on: November 19th, 2024
According to the latest report by IMARC Group, titled “Toys and Games Market: Global Industry Trends, Share, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the toys and games market share. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. the global toys and games market size reached US$ 113.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 170.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.54%during 2024-2032.
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Toys and Games Market Trends:
The global market is primarily driven by the increasing popularity of educational and STEM-based toys as parents seek products that support learning and development. Moreover, the rise of digital and smart toys integrated with advanced technology is attracting tech-savvy children and parents. Furthermore, growing disposable incomes, particularly in emerging markets, are enabling consumers to spend more on entertainment products.
Additionally, the expansion of e-commerce platforms has facilitated easy access to a wide range of toys and games, further driving market growth. Besides, shifting consumer preferences toward eco-friendly and sustainable toys is encouraging manufacturers to innovate in this space. The increasing influence of social media and entertainment channels is also shaping consumer buying behavior. Moreover, collaboration between toy manufacturers and entertainment franchises has led to a rise in demand for licensed toys. Seasonal and festival-based sales promotions are significantly contributing to market expansion.
Leading Key Players Operating in the Toys and Games Industry:
Global Toys and Games Market Scope & Growth Analysis:
The scope of the market is broadening due to the integration of artificial intelligence and augmented reality into traditional toys, enhancing interactivity and user engagement. The rise of subscription-based toy rental services is another growing trend, catering to eco-conscious consumers who prefer sustainable options. Digital games are increasingly overlapping with physical toys, creating hybrid products that appeal to a broader audience. The market analysis also shows that expanding demographics, including adult consumers who collect toys or engage in gaming, are further driving market expansion.
Increased global connectivity has allowed local and niche brands to reach international audiences, fostering greater diversity in product offerings. Additionally, the emphasis on gender-neutral toys is challenging traditional market segmentation and appealing to a more inclusive customer base. The global market's potential continues to grow as manufacturers respond to evolving consumer preferences and technological innovations, positioning the industry for sustained growth.
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Toys and Games Market Report Segmentation:
Breakup by Product Type:
Dolls dominate the market due to their timeless appeal and the continuous innovation in design and interactivity.
Breakup by Distribution Channel:
Specialty stores hold the largest share in the market due to their targeted product offerings and expertise in specific toy categories.
Breakup by Region:
Asia-Pacific's dominance in the toys and games market is attributed to its large consumer base, rising disposable incomes, and strong manufacturing capabilities.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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