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The growth of the market is propelled by the increasing demand for multipurpose plaything and games, although its progress is hindered by the increasing popularity of e-games. Furthermore, there is a notable upward trend in sustainable and environmentally friendly plaything.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Aldi Stores Ltd - The company offers online toys and games retailing products such as Christmas Stretchy Plush, Clementoni Baby Garden Game, Mystery Jigsaw Puzzles.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including Aldi Stores Ltd., Alpha Group Animation, Amazon.com Inc., BFL Group, Fat Brain Toys LLC., Fishpond Ltd., Hasbro Inc., Kidding Around NYC, Kohls Corp., Le Toys Van Inc., LEGO System AS, Mary Arnold Toys, Nordstrom Inc., Qurate Retail Inc., Ravensburger AG, Reliance Industries Ltd., Shumee Toys Pvt. Ltd., Simba Dickie Group GmbH, Snooplay India Pvt. Ltd., Takara Tomy Co. Ltd., The Walt Disney Co., Toycra, Tru Kids Brand, UncommonGoods LLC, Uttam Toys, Mattel Inc., and TinToyArcade.com LLC
Qualitative and quantitative analysis of market growth and trends 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. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The increasing demand for multipurpose toys and games is notably driving market growth. The development of modern technology and the constant innovations taking place in the field of plaything and games have resulted in several consumers opting for multipurpose plaything and games, which provide children with knowledge, fun, and entertainment at the same time. In recent times, technology has penetrated all aspects of life, including the way children learn and spend their playtime. Amazon.com Inc. has initiated a subscription program called the STEM Club, which is aimed at parents. Consumers are required to visit the STEM club home page and select the age range of their child to sign up for the subscription.
However, they pay a sum of USD 20 per month to avail themselves of the STEM, which are then shipped to respective members' homes and are delivered in under a week time. Amazon.com Inc. hand-picks the products and makes sure they are age-appropriate. The plaything are related to areas of science, technology, engineering, and math. Thus, websites are undertaking initiatives to cater to the rising needs and demands of consumers who are looking for multi-functional toys and games. These factors will propel the growth of the market during the forecast period
Sustainable and environmentally friendly toys are an emerging trend shaping market growth. Young parents are looking for more eco-friendly and socially conscious to build a better tomorrow. Sustainable playthings are recyclable and eco-friendly in nature as they are made from cotton, wool, water-based inks and paints, and wood. For instance, these plaything that are made of more sustainably sourced materials include messages that encourage kids to be more socially responsible individuals.
Moreover, as parents are looking for more eco-friendly playthings that do not pollute society, toymakers are aiming to produce more eco-friendly products. According to the 2022 survey carried out by The Toy Association Inc., most parents (78%) acknowledge that sustainability in the manufacturing of toys and the recyclability of toys for their children is of prime importance. Therefore, this trend is expected to propel the growth of the market during the forecast period.
The increasing popularity of e-games is a significant challenge hindering market growth. They are increasingly replacing traditional games. Gaming and animation on desktops, consoles, and mobile phones attract children easily. Another reason behind the increase in their popularity is low consumer loyalty toward traditional games. The demand for video games is also on the rise. For instance, the launch of the Xbox and PlayStation series is a direct threat to the market. Companies like Microsoft are launching many innovative games for both children and adults.
Moreover, with the growing usage of smartphones, mobile gaming is set to increase. The global penetration of smartphones reached 95% in 2021, which, as a result, will increase the adoption of gaming platforms. Thus, the increasing popularity of e-games is expected to act as a serious threat to the growth of the market during the forecast period.
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The market share growth by the activity and ride-on toys segment will be significant during the forecast period. These primarily include outdoor, sport, and model vehicle such as frisbees, hula hoops, and twisters, which are used for recreation, fitness, sports, and juggling. These are intended for children aged two years and above and are bought for infants when they start walking or when they learn to walk. This segment was the largest and was valued at USD 9.63 billion in 2018. Several market players offer premium activity and ride-on playthings for toddlers. For instance, Kohls Inc. provides such products such as tractors and jeeps for kids. Mary Arnold Toys also offers such as the Dumper Truck. These model vehicle toys mimic the features of automobiles such as trucks, buses, cars, and trains. They improve mobility and encourage exercise among toddlers. Therefore, the presence of prominent companies offering innovative playthings and the rise in disposable income of parents are the major factors driving the growth of the online activity and this segment, which in turn is propelling the growth of the market during the forecast period.
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Based on the application, the market has been segmented into school age children, teens, Infants and toddlers. The school age children segment will account for the largest share of this segment.
APAC is estimated to contribute 36% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. In APAC, rapid economic development and an increase in disposable income have been the key growth drivers of the online toy and games retailing market in developing countries such as India and China. In India, traditional toy and games stores continue to be the predominant retail channel. However, the online retail channel also saw a considerable rise in the sales of playthings in 2021. E-commerce vendors like Flipkart and Snapdeal registered high sales and games. Hasbro Inc., Mattel Inc., and LEGO System AS are some of the leading toy and game vendors in India. LEGO System AS is focused more on the sales of licensed action figurines in the region and is expected to expand its online platform in the region. For instance, Lego Life, an app similar to Instagram for kids, is expected to be launched in India, where kids will be able to post and comment on their creations.
In addition, many e-commerce portals also focus on the sales of baby products. Babyoye is one such website that offers a collection of baby playthings in India. Specialized online stores such as Yellow Giraffe listed their offerings based on age groups and the skills they aim to inculcate in children. In the urban cities of India, parents buy more educational and entertainment plaything for their children. Further, the rise in consumer demand for branded playthings, an increase in per capita disposable income, and a greater willingness of parents to spend on playthings have increased their demand in APAC during the forecast period.
The online toys and games retailing market is experiencing a significant transformation, driven by the growing demand for green toys and the adoption of STEM concepts in toys. Millennials, known for their preference for recreational activities and social gatherings, are driving this change. Conventional toys are evolving to include tech-based elements, aligning with the trend of digitalization. Building toys and construction sets are gaining popularity for their cognitive benefits, appealing to both children and adults.
E-stores and e-commerce platforms like Walmart Online and eBay are key players in this market, offering a wide range of products. Collaborations between retailers, manufacturers, and content producers are shaping the market's landscape, ensuring compliance with the Consumer Product Safety Act and CPSC's ASTMF963-17. As the market continues to grow, sustainability and mergers are becoming more important, with companies like Mattel and Hasbro leading the way.
Market Scope | |
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.32% |
Market Growth 2024-2028 |
USD 17.84 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.99 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Aldi Stores Ltd., Alpha Group Animation, Amazon.com Inc., BFL Group, Fat Brain Toys LLC., Fishpond Ltd., Hasbro Inc., Kidding Around NYC, Kohls Corp., Le Toys Van Inc., LEGO System AS, Mary Arnold Toys, Nordstrom Inc., Qurate Retail Inc., Ravensburger AG, Reliance Industries Ltd., Shumee Toys Pvt. Ltd., Simba Dickie Group GmbH, Snooplay India Pvt. Ltd., Takara Tomy Co. Ltd., The Walt Disney Co., Toycra, Tru Kids Brand, UncommonGoods LLC, Uttam Toys, Mattel Inc., and TinToyArcade.com LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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