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The Model Kits for Hobbyists Market size is forecast to increase by USD 219 million, at a CAGR of 3.65% between 2023 and 2028. The market is experiencing significant growth due to several key trends. The increasing disposable income of the middle-class population is driving demand for hobby activities, including model building. Additionally, the application of 3D printing technology in creating model kits is gaining popularity, offering consumers more intricate and customizable options. The rise of e-commerce platforms is further fueling this growth by providing hobbyists with easier access to a wider variety of model kits and accessories. Seasonal demand and the short life of merchandise and collectibles are also contributing factors, as hobbyists seek the latest releases and limited-edition items. These trends are fueling market growth and presenting opportunities for manufacturers and retailers to innovate and cater to the evolving needs of hobbyists.
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The automobiles segment is estimated to witness significant growth during the forecast period. The market for hobbyist model kits is still largely dominated by automotive models and kits, reflecting enthusiasts' desire to recreate legendary vehicles. Classic vehicles such as the Ford Mustang and vintage European sports vehicles such as the Porsche 911 continue to be popular alternatives.
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The automobiles segment was the largest segment and was valued at USD 322.00 million in 2018. Intricate modification kits are also on the rise, allowing hobbyists to personalize their models with distinctive paint jobs, decals, and aftermarket parts. Technological developments have allowed these kits to give greater detail and realism, which has improved the entire experience of being an enthusiast.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America contributed the highest revenue share to the global model kits for hobbyists market. The US and Canada are major revenue contributors in this region. One of the major factors driving the regional market growth is the rise in the purchasing power of the middle-class population and the increase in the average disposable income of the entire population. Beginner end-users are also shifting their focus toward scientific and educational model kits, as playing with these model kits will result in the enhancement of knowledge among kids. Therefore, vendors are introducing new model kits every year, including new aircraft and vintage classic car model kits. Therefore, the rising spending capacity of consumers and the presence of several prominent vendors are expected to propel the growth of the market in focus during the forecast period.
The market has experienced significant growth in recent years, driven by various factors. The middle-class population's increasing disposable income and access to television and the internet have expanded the reach of this hobby. Online sales have become increasingly popular, allowing hobbyists to purchase model kits from anywhere in the world. Technological advancements, such as 3D printing and digital design, have also contributed to the growth of the market. Licensed merchandise tied to movies and TV franchises have become popular choices for collectors. Replicas of vehicles, aircraft, and military equipment continue to be in demand due to their nostalgic value and educational appeal. Craft activities have gained popularity as home-based hobbies, and model kits offer a sustainable and eco-conscious option. Consumer behavior trends indicate a preference for limited editions and collector items, which are often sold with sustainable packaging. Online platforms have facilitated community building among hobbyists, allowing them to connect and share their work. The market for model kits includes a wide range of products, from aircraft models to cars and tanks. E-commerce and digital design have made it easier for hobbyists to access these kits and design their own creations. The market is expected to continue growing as consumer interest in home-based activities and nostalgia-driven collectibles remains strong.
The rise in online sales is driving growth in model kits for the hobbyist market. The fastest-growing sector in the world's retail market is retailing. The biggest players in the global online retail market for model kits market are Amazon and Walmart. Online websites provide detailed information on products, including quality specifications, safety measures, and user guidance.
Moreover, online shopping of various products, including model kits, through smart devices or m-commerce, has also been increasingly popular over the years because of its high internet penetration, improved economic conditions throughout much of the world, and easier way to upgrade purchasing and delivery options available on these channels. M-commerce is expected to account for almost half of the global e-commerce market during the forecast period.
The growing number of movie and TV franchise tie-ins is a key trend in a model kit for the hobbyist market. The model kits for hobbyists market, which also includes collectibles, is growing globally, with major movie franchises being released worldwide. This has led licensors to boost their global portfolio in addition to the growth of e-commerce, leading to a higher demand for licensing agents. Global players hire licensing agents to enter a new market due to the diversity in the popularity of merchandise across different areas.
However, the launch of a series of movies that are part of a single franchise, like Marvel Entertainment, helps create greater demand for movie collectibles based on these movies. This, in turn, is because consumers have been exposed to such shows for a long time. Over the next few years, there are a lot of movies planned for release by Marvel Entertainment. These movies are expected to add to the demand for movie merchandise and model kits during the forecast period.
The growing market fragmentation is a major challenge in the model kits for hobbyists market challenge. The presence of domestic and foreign players has made the global market for model kits for amateurs moderately competitive. Local players contribute significantly to the market with their product offerings, targeting the needs of local consumers who look for products priced economically.
Moreover, numerous unorganized players, such as small- and mid-size handicraft manufacturers, are also present in this already fragmented market. As they are unregistered, such players have no official role in the growth of the market. This competition also increases due to low product differentiation, and therefore, companies need to continuously innovate, conceptualize, formulate licensing agreements, create new content, and stock the latest designs. It is expected to impede the growth of the market in focus during the forecast period
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Academy Plastic Model Co. Ltd.- The company offers model kits for hobbyists such as 13425 USMC M60A1 Rise, 15776S New God Phoenix, and 12324 SB2U 3 Battle of Midway.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is thriving, fueled by nostalgia and the educational value these kits provide. Products like Tamiya Models, which include civilian vehicles, tanks, ships, and character models, cater to a diverse consumer base. Online and offline stores play a crucial role in reaching hobbyists, from craft stores to specialized shops. The market is influenced by strategic engagement and collaborations, driving demand among children and adults alike. Eco-consciousness and environmental sustainability are becoming central to production processes, while high costs and technological insights like 3D computerized digital models shape the market landscape. From static displays to snap-together models, hobby model building supports interests in architecture, filmmaking, and science fiction, offering a rich, multifaceted hobby experience.
Further, the market is expanding with diverse offerings such as cars models, tanks models, and ships models, appealing to enthusiasts of all ages. With increasing demand from children and adults, both online and offline stores are essential for distributing these scale models. Snap-together models and static displays cater to varying skill levels, while high costs and service launches influence purchasing decisions. Technological advancements, including 3D computerized digital models, are enhancing the hobby experience by providing intricate details and improved assembly. Effective salesmanship and strategic market positioning are crucial for reaching target audiences and capitalizing on the growing interest in model kits, including those related to military command and other specialized themes.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.65% |
Market Growth 2024-2028 |
USD 219 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.38 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 36% |
Key countries |
US, UK, Germany, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABER, Academy Plastic Model Co. Ltd., Accurate Armour Ltd, Aoshima Bunka Kyozai Co. Ltd., Arma Hobby S.C., Dragon Models Ltd., Hasegawa Corp., Heller Hobby GmbH, Hong Kong Models Co. Ltd, Hornby Hobbies Ltd., Italeri SpA, Moebius Models, Motormax Toy Factory Ltd., Ningbo Weijun Culture Development Co. Ltd. , Revell GmbH, Round2 Corp. LLC, Tamiya Inc., TM MINIART MODELS, Waltersons Industries Group Ltd., and Yatai Electric Appliances Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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