Board Games Market

Board Games Market Size:

The global board games market size reached US$ 16.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 40.1 Billion by 2032, exhibiting a growth rate (CAGR) of 9.81% during 2024-2032. The market is propelled by rapidly increasing social gaming and community events, numerous educational and cognitive benefits offered by board games, rise of crowdfunding platforms and innovation, significant integration of technology in these games, and equal participation of adults.

Board Games Market Analysis:

• Major Market Drivers: The rising inclination of individuals toward offline modes of entertainment, increasing number of board game cafes and community events, and the educational content offered by board games are some of the major market drivers, which are leading to a rise in the board games demand.
• Key Market Trends: The increasing number of individuals seeking premium and special edition board games in confluence with the significant integration of technology with good-quality components and distinctive themes are some vital key trends of the board games industry.
• Geographical Trends: The North America region holds the largest board games market share in due to the robust cultural attraction of these games across the United States and Canadian region. Additionally, the North American region is hub to some of the most prominent key players of the industry, thus driving propelling the market.
• Competitive Landscape: Buffalo Games, Cartamundi Asia Pacific, Clementoni Spa, CMON Limited, Franckh-Kosmos Verlags-GmbH and Co. KG, Fremont Die Consumer Products Inc., Gibsons Games Ltd., Goliath Games, Hasbro Inc., Mattel Inc., Mindware Inc., PD Verlag GmbH and Co. KG, and The Walt Disney Co., are among some of the key players in the board games industry.
• Challenges and Opportunities: Some of the most common challenges of the industry include significant changes in raw material prices and the rising trend of video games which bring upon a profound competition. On the other hand, the substantial number of adults participating in board games is one of the major factors driving the market growth.
   

Board Games Market Trends:

Increasing Number of Social Gaming Events

The revival of social gaming is positively influencing the board games market growth. The rising number of individuals seeking face-to-face interactions as an alternative to digital communication, often resort to these social gaming events. Apart from this, another factor playing a vital role in the popularity of board games is the rising number of tournaments and conventions across the globe, which contribute toward the creation of a potent gaming community of enthusiasts. For instance, according to GEN CON, a leading annual tabletop gaming convention, the number of individuals participating in its event which marked its 20^th anniversary in Indianapolis, was 70,000 in 2023. Players in these types of events socialize, try new games, make and share strategies giving them an exhilarating experience. This direct interaction between individuals at these events create a positive board games market outlook along with building brand loyalty among consumers which leads to a longer retention rate.

Educational and Cognitive Benefits Offered by the Games

The increasing awareness about the educational and cognitive benefits offered by these games is contributing to a rapid board game industry growth. Other than this, numerous schools and educational organizations are including board games as a part of their curriculum in order to promote various skills, including strategic planning, critical thinking, and teamwork. A report published by THE CITY OF ASHIVILLE, titled “WELLNESS WEDNESDAY- 5 MENTAL BENEFITS OF BOARD GAMES”, stated that according to a study conducted in 2013, found that the risk of dementia came down by 15% in individuals who indulged in board games in comparison to non-players. Besides this, apart from children, adults are also adopting board games to work toward the development of their cognitive development and improve their mental stimulation.

Rapidly Expanding E-Commerce Industry

The significant growth observed in the e-commerce industry is assisting in the generation of board game industry revenue. This is on account of the better accessibility of these board games, in addition to this, consumers come across a wide variety of games online as compared to offline stores. Other than this, the sudden outburst of the COVID-19 pandemic followed by the stringent restrictive measures applied by governments across the globe drastically affected the purchasing habits of individuals, which led to a vast shift from the offline mode to the online methods. The INTERNATIONAL TRADE ADMINISTRATION, noticed a substantial upward trend in the global e-commerce retail sales- of 8% in between 2019-2020. Apart from this, the current e-commerce market depicts a robust growth, according to the IMARC GROUP, the market reached US$ 21.1 Trillion in 2023 and is projected to reach US$ 183.8 Trillion by 2032, exhibiting a growth rate of 27.16% during 2023-2032. These sizable numbers contribute as one of the major board games industry trends.

Board Games Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, game type, age group, and distribution channel.

Breakup by Product Type:

• Tabletop Games
• Card and Dice Games
• Collectible Card Games
• Miniature Games
• RPG Games
   

The board games market research report has provided a detailed breakup and analysis of the market based on the product type. This includes tabletop games, card and dice games, collectible card games, miniature games, and RPG games.

Tabletop games majorly consist of skill and strategy, are usually played on flat surfaces, hence the name tabletop, and hold a major portion of the sales. They often contain complex games and themes from economic simulation to historical welfare. These games possess pieces such as tiles, tokens, or miniatures that participants move in accordance to the rules. Some of the most common examples of these games include Chess and Monopoly.

Card and type games are in which cards and dices are the primary game elements in place of a board. Games in this category include deck of cards which possess certain rules in regards to ranking and combination of these cards. Mostly played games in this category include poker, bridge, Yahtzee and farkle.

Collectible card games refer to gameplay mechanism which require players to collect and trade cards in order to build a personalized deck. These games have gained immense popularity over the years on account of the loyal following and continuous release of new cards. THE NEW YORK TIMES stated that one of the most renowned CCG named “MAGIC: THE GATHERING”, collected a massive revenue of approximately $1.1 billion in the year 2022. The report also states that this game held 18% of the overall revenue of Habro in the previous year.

Miniature games are distinctive on account of their detailed models and figures which represent characters of units in the game. This game is particularly adopted by individuals who enjoy the artistic aspect of gaming as they often spend a substantial amount of time painting and customizing their miniatures. The game requires some strategy and tactics which is appealing to a large audience which appreciates war-gaming and role-playing situations.

Role-playing games (RPGs) are another type of subsegment available in the market. These games contain character development and storytelling which offer an extremely immersive experience. Individuals who are more into creative problem-solving or narrative-driven games are the target audience.

Breakup by Game Type:

• Strategy and War Games
• Educational Games
• Fantasy Games
• Sport Games
• Others
   

A detailed breakup and analysis of the market based on the game type have also been provided in the board games market report. This includes strategy and war games, educational games, fantasy games, sport games, and others.

Strategy and war games focus on tactical decision-making, competitive gameplay, and planning. Individuals often engage in resource management, battles, and territorial control. These games tests individuals by challenging them to anticipate their future steps and decide on strategies that will benefit them in the future.

Educational games provide double benefits, including entertainment and learning. They are meant to teach or inculcate certain skills or concepts among the players. These games target young individuals learning arithmetic as well as adults who are interested in science or history. The increasing trend of game-based learning is leading to a major adoption of the educational games, thus creating a positive board games market forecast. According to the IMARC GROUP, the global game-based learning market is projected to reach US$ 71.7 Billion by 2032, expanding at a growth rate of 15.8% during 2024-2032.

Fantasy games hold a major part of the market catering to individuals indulging in immersive storytelling and deep imaginative settings. These games include detailed characters, elaborate narratives, and a complicated world-building that allows creativity and strategic thinking. One of the most popular games is Dungeons & Dragons.

Sports games apprehend the competitive nature and excitement of athletic events in a tabletop format which is exciting for a major portion of sports enthusiasts. They include a wide variety of games such as basketball, soccer, and football which allows the players to plan plays, manage teams, and enjoy the thrill of sport strategy. Their popularity can also be accredited due to their ability to make individuals learn about rules and strategies of numerous sports.

Breakup by Age Group:

• 0-2 Years
• 2-5 Years
• 5-12 Years
• Above 12 Years
   

5-12 years accounts for the majority of the market share 

The report has provided a detailed breakup and analysis of the market based on the age group. This includes 0-2 years, 2-5 years, 5-12 years, and above 12 years. According to the report, 5-12 years accounted for the largest market share.

The 5-12 years of age group hold maximum number of shares on account of the developmental benefits offered by these games particularly to children belonging to this age. These games improve the cognitive abilities including interpersonal skills, critical thinking, and problem-saving. Other than this, the rising income levels of individuals is leading to an increasing demand for board games. According to the WORLD BANK, the low income level nations have come down to merely 12% in 2022 as compared to 30% in 1987.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Stores
• Others
   

Specialty stores accounts for the majority of the market share 

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes supermarkets and hypermarkets, specialty stores, online stores, and others. According to the report, specialty stores accounted for the largest market share.

Specialty stores hold maximum number of shares as they consist of niche products such as hobbies or board games, thus allowing the consumers to access these products at one location. Additionally, they also offer a wide array of products including indie games, new releases, and games that are meant for particular interests such as role-playing and strategy. Other than this, one of the major factors creating a positive impact on board games industry statistics is the experience to feel the product in person. According to the FORBES MAGAZINE, there is a 14% rise in offline sales since after the COVID-19 pandemic.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others 
• Middle East and Africa
   

North America leads the market, accounting for the largest board games market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The North America region was the largest market in the board games market due to the robust gaming culture in confluence with the increasing number of individuals spending on leisure activities. According to the PEW RESEARCH CENTER, the upper-income tier population of the United States increased from 14% in the year 1971 to 21% in 2021. This financial upliftment is a major factor driving the market growth. Other than this, key players are undertaking strategic marketing steps in order to expand their presence globally and cater to a wider audience.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the board games industry include Buffalo Games, Cartamundi Asia Pacific, Clementoni Spa, CMON Limited, Franckh-Kosmos Verlags-GmbH and Co. KG, Fremont Die Consumer Products Inc., Gibsons Games Ltd., Goliath Games, Hasbro Inc., Mattel Inc., Mindware Inc., PD Verlag GmbH and Co. KG, and The Walt Disney Co., are among some of the key players in the board games industry.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• At present, key players in the industry are strategically taking steps to cater to varied consumer preferences and technological upgradations in order to maintain a competitive board games market. One of the major factors key players consider to expand their portfolio by adding contemporary, classic, and innovative games in order to serve a wider audience group. For instance, it was found in the board games market research that, in August 2022, a prominent key player- Modiphius Entertainment announced the launch of Homeworld Fleet Command, a new game line of miniature tabletop games. Other than this, key players are adopting latest technology by integrating digital components including companion apps in their board games. These digital components provide digital scoring, augmented reality features, offer an exhilarating experience of a traditional board game with a modern digital touch.

Latest News:

• 2024: GOLIATH GAMES announced their collaboration with ALL3MEDIA INTERNATIONAL and IDENTITY GAMES with the intent of distributing the official TRAITORS BOARD GAME in the UK and Ireland region.
• 2023:HASBRO, a leading key players of the industry entered into a partnership with the NEW YORK TIMES which owns the renowned online word puzzle to create, “WORDLE: THE PARTY GAME”.

Board Games Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the board games market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global board games market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the board games industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.