According to the latest report by IMARC Group, titled "China Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the China toys market size reached US$
18.9 Billion in 2022. Toys refer to certain objects that are designed for toddlers and young children to play with. Widely available in a variety of sizes and colors, they are commonly made from clay, cloth, paper, plastic and wood. Playing with toys is known to facilitate the learning process at an early age and boost the overall development of children while stimulating their creativity and their imagination. They can also aid in improving motor skills and problem-solving capabilities of children while improving their social, cognitive and physical skills. They consist of traditional and modern variants, including cards, dolls, puzzles, board games, action figurines and mechanical cars.
China Toys Market Trends:
The market is primarily driven by the confluence of numerous factors, including the rising population, improving standards of living, inflating per capita income levels and the changing spending patterns of the masses in China. This, along with the availability of cheap labor and the increasing number of established toy production factories in the country, has led China to be a leading manufacturer of toys on the global level. Moreover, the shifting preference of toddlers from traditional toys to innovative plush and electronic variants is a major factor contributing to the market growth. Educational toys are also gaining widespread prominence in the market, especially among the urban population, as they promote experimentation and learning experiences among children. This has further catalyzed the escalating demand for science, technology, engineering and mathematics (STEM)-based toys among students, which, in turn, is creating a positive outlook for the market. Some of the other factors providing an impetus to the market growth include the easy availability of diverse toys with varied price ranges in the country and the convenient product accessibility through online retail portals. On account of these factors, the market is expected to grow at a CAGR of
10.6% during 2023-2028.
- Based on the product type, electronic/remote control toys represent the largest segment. Other major segments include plush toys, games and puzzles, construction and building toys, dolls, ride-ons, sports and outdoor play toys, infant/pre-school toys, activity toys, and others.
- On the basis of the end user, the market is divided into unisex, boys’ and girls’ segments. At present, unisex toys exhibit a clear dominance in the market.
- On the basis of the distribution channel, the market has been categorized into specialty toy chain stores, supermarkets and hypermarkets, departmental stores, online stores, and others. Among these, specialty toy chain stores account for the majority of the total market share.
- Based on the province, Guangdong holds the leading position in the market. Other key regions include Jiangsu, Shandong, Zhejiang, Henan and others.
- The competitive landscape of the market has been examined in the report with the detailed profiles of the key players. Some of these players include Mattel, Inc., LEGO System A/S, Hasbro, Inc., VTech Holdings Limited, Hape International AG., Silverlit Toys Manufactory Limited, Sieper GmbH, Micro Mobility Systems AG, Ravensburger Ltd., and Shantou City Big Tree Toys Co., Ltd.
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.
Follow us on twitter: @imarcglobal