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Global Toys and Games Market Size -Industry Trends & Forecast Report 2027 Global Toys and Games Market Size -Industry Trends & Forecast Report 2027

Global Toys and Games Market Size -Industry Trends & Forecast Report 2027 - PDF document

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Global Toys and Games Market Size -Industry Trends & Forecast Report 2027 - PPT Presentation

Global Toys and Games Market was worth USD 2761 Billion in 2020 and is further projected to reach USD 4031 Billion by 2027 at a CAGR of 57 during 20212027 forecast period ID: 881460

Games and Puzzles Video Games Construction Toys Dolls and Accessories Outdoor and Sports Toys

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Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) Global Toys and Games M arket Size - Industry Trends & Forecast Report 202 7 Summary Global Toys and Games Market , By Product Type (Games and Puzzles, Video Games, Construction Toys, Dolls and Accessories, Outdoor and Sports Toys, and Other Product Types), Distribution Channel (Online and Offline), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) Trend Analysis, Competitive Market Share & Forecast, 2021 - 2027 A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global toys and games market was worth USD 276.1 Billion in 2020. The market is estimated to grow at a CAGR of 5.7 % , earning revenue of around USD 403.1 Billion by the end of 2027. The key strategy implemented by toy manufacturers to entice children is the commercialization of renowned cartoon characters like Peppa Pig, Doraemon, Superman, Spiderman, etc. Moreover, the rising disposable income is another major factor, favoring the growth of the market. Additionally, technological advancements have enabled video games to gain exponential acceptance among children. The introduction of educational gaming has also influenced the growth of the global toys and games market . View report Press release Sample report Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) Report Overview Commercialization of popular cartoon characters like Doraemon, Ironman, Superman, and Spiderman is the primary factor driving the growth of the global toys and games market. Moreover, the rising disposable income is another major factor, favoring the growth of the market . Global Toys and Games Market Size - Industry Trends & Forecast Report 202 7 Global Toys and Games Market was worth USD 276.1 Billion in 2020 and is further projected to reach USD 403.1 Billion by 2027, at a CAGR of 5. 7 % during 2021 - 2027 (forecast period). Because of the emergence of high - income group customers, the global toys and games market has been witnessing treme ndous growth. Moreover, toys and games inspired by popular cartoon, movie, or TV characters are gaining prominence across the globe, which in turn, is driving the market. Several other trends contribute to increased demand for toys and games, including the popularity of educational and scientific toys, and the growing demand for sustainable, reusable, and eco - friendly toys . Source: BlueWeave Consultin g Global Toys and Games Market Overvie w A toy or game is any item a child can use for play, including rattl es, plush toys such as teddy bears, toy cars, dolls, ropes, jigsaw puzzles, board games, and much more. Parents' increased interest in ecological toys, the rebirth of traditional toys and video games, awareness of the intellectual benefits of building/cons truction toys, and the growing popularity of mobile - based gaming are all contributing to the global toys and games market's growth.The global toys and games market is also driven by the increasing popularity of traditional recreational activities among you ng people. Additionally, the market growth is Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) expected to be driven by millennials' growing fondness for old - fashioned games at social gatherings . Growth Driver s The influence of technology is promoting video game s Video game developers have developedrecur ring revenue business models, which has substantially contributed to expanding the global toys and games market over the past few years due to continual video game engagement resulting in increased sales over time. The expansion of technology has led to si gnificant growth in the global toys and games market as consumers are spending more on video content, virtual reality products, and video game tournaments. Moreover, with the shift from physical to digital distribution of software, as well as the expansion of mobile and online gaming, the market has experienced exponential growth . The Growing Popularity of TV show s One of the major factors that have been influencing the growth of the global toys and games market is the rising popularity of TV shows and movies. Several blockbusters, such as Star Wars, Frozen, and Despicable Me, have led to high retail sales. Moreover, specialty stores promote many popular TV series, including Game of Thrones, Penny Dreadful, Breaking Bad, and Big Bang Theory. For example, one of the US - Based retail stores by the name of Hot Topic makes a significant portion of its income from TV - based merchandise and animation collectibles. Meanwhile, sales of collectibles are likely to increase during this forecast period, thereby driving the growth of the global toys and games market . Restraint s The major restraint facing the global toys and games mar ket is the new threat of smartphones and tablets. As a result, traditional toy manufacturers are facing difficulties. It's no wonder that kids are lured to electronics as technology advances and the internet becomes more widely available. This has posed a serious challenge to the toy industry's profit margins, particularly in Spain, forcing them to rethink the entire market, as other countries such as the United Kingdom and Germany are doing . Impact of COVID - 19 in the industr y Since the sudden emergence of the COVID - 19 pandemic, there has been a disruption in the import and export of toys and games due to the implementation of strict lockdown regulations in many countries. COVID - 19's influence, on the other hand, has led to significant growth of the toy and game market among high - and middle - income customers. This is mainly due to the launch of numerous stay - at - home product ranges by the key players. During the pandemic, sales of toys and games were driven primarily by online retailers, such as Amazon Toys, W almart Toys, Fat Brain Toys, etc. Raw material supplies have been severely affected as a result of the lockdown restrictions imposed by various nations. Furthermore, the lower manufacturing volume resulted in lower sales volume . Global Toys and Games Marke t : By Product Typ e Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) Based on product types, the global toys and games market is divided into Games &Puzzles, Video Games, Construction Toys, Dolls & Accessories, Outdoor & Sports Toys, and other Product Types. Among these, the video games segment held the l argest market share in 2020.As a result of technological developments and internet penetration, consumers are spending more time watching video content, buying virtual reality products, and watching video game tournaments. The spread of mobile and online g aming, as well as the move from physical to online software distribution, are all contributing to the market's significant growth . Global Toys and Games Market : By Distribution Channe l Based on distribution channels, the global toys and games market is div ided into online and offline channels. The online segment has dominated the market in 2020 in terms of revenue. Many players are keenly shifting their product offerings method by introducing e - stores and retailing products through e - commerce platforms like Walmart online, Amazon, etc. These online platforms have emerged as a feasible and cost - effective replacement for traditional marketing and sales methods. Furthermore, because of the COVID - 19 outbreak, many were forced to stay at home due to lockdown limi tations. In order to amuse themselves during the lockdown, people started playing board games and indoor games, which were easily available online. As a result, the online segment of the global toys and games market has been witnessing impressive growth si nce the COVID - 19 outbreak . Global Toys and Games Market – Regional Insight s Based on regions, the global toys and games marke t is grouped into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.Among these regions, the Asia Pacific holds the largest market share. India and China considered being prominent players in the Asia Pacific region as one of the major suppliers of products and raw materials. Factors responsible for the growth of the global toys and games market are rising in the number of retail outlets along with the rising disposable income of consumers. There is a high demand from emerging countries like Singapore and India, which influenced the toys and games market. The increasing industrial and commercial sectors in the developing countries are responsible for increasing the demand for the product . Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) Source: BlueWeave Consultin g Recent Development s  April 202 1 - Matchbox launched a series of toy cars inspired by real - life electric and hybrid carsto make its miniatures mor e sustainable and raise awareness among children about the impact of motoring on the environment .  June 202 1 - E - commerce major Flipkart announced the formation of a joint venture with Ace Turtle to bring Toys"R"Us and Babies"R"Us to its platform in India. As part of the joint venture, Toys"R" Us and Babies"R" Us have been licensed to operate in India . Competitive Landscap e The key players in the global toys and games marke t are LeapFrog Enterprises, Vivid Imaginations, Mattel, Ravensburger, Lansay, PlaymatesToys, TOMY, The LEGO Group, The ToyQuest, Hasbro, MGA Entertainment, Funtastic, Funko, JAKKS Pacifi c and other key manufacturers . The key players operating in the market are taking all possible measures to gain a competitive edge by launching announcing new toys and games in the market to cater to the welfares of their target consumers. New product launch is the most favored marketing strategy in the toys and games market . Scope of the Repor t Attribut e Detail s Years Considere d Historical data – 2017 - 202 0 Base Year – 202 0 Forecast – 2021 – 202 7 Facts Covere d Revenue in USD Billio n Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) Market Coverag e U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, Argentina, UAE, South Africa, Saudi Arabi a Product/Service Segmen t atio n ByProduct Typ e , By Distribution Channel , By Regio n Key Player s LeapFrog Enterprises, V ivid Imaginations, Mattel, Ravensburger, Lansay, PlaymatesToys, TOMY, The LEGO Group, The ToyQuest, Hasbro, MGA Entertainment, Funtastic, Funko, JAKKS Pacifi c and other key manufacturers .  By Product Typ e o Games and Puzzle s o Video Game s o Construction Toy s o Dolls and Accessorie s o Outdoor and Sports Toy s o Other Product Type s  By Distribution Channe l o Onlin e o Offline Channel s  By Regio n o North Americ a o Latin Americ a o Europ e o The Asia Pacifi c o The Middle Eas t o Afric a Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027) Global Toys and Games Market Growing Steadily: Projected to Grow at a CAGR of 5.7% during the forecast period (2021 - 2027)