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China Toys Market to Reach US$ 27.2 Billion by 2025, Spurred by Favorable Government Initiatives

According to the latest report by IMARC Group, titled "China Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the China toys market size reached US$ 14.9 Billion in 2019. Toys are objects that are designed for toddlers and young children to play with. Usually made from plastic, paper, clay, wood or fabrics, they are mostly smaller replicas of animals, people or things. Learning through toys is considered to be a crucial part of a child’s overall development. They are used to stimulate the child’s imagination and develop different motor skills. Some toys can also assist in improving the problem-solving capabilities of children while improving their social, cognitive and physical skills. Consequently, there is an increase in the uptake of a wide array of toys across the globe. China, being one of the leading toy markets in the world, has created numerous growth opportunities for the established players as well as new entrants. The growth for the toys market in the country is primarily facilitated by the increasing population and inflating disposable income levels.

China Toys Market Trends:

The toys market in China is driven by the confluence of several factors, such as improving standards of living and changing spending patterns of the majority of the population. This has contributed to a major shift from traditional toys to innovative plush and electronic variants. Educational toys that promote experimentation and learning experiences among children are also gaining preference in the country, especially among the urban population. Along with this, the increasing demand for science, technology, engineering and mathematics (STEM)-based toys, is also providing a thrust to the market growth. Moreover, the diverse product portfolio of toys with varied price ranges, facilitated by the establishment of numerous toy production factories in the country, is expected to attract a broader consumer base.

Favorable government initiatives, such as the relaxation of the one-child policy and the implementation of the two-child policy under the 13th Five-Year Plan (2026-2020), are acting as other major growth-inducing factors. This has resulted in an increase in the population of new-borns in the country, which is expected to create a positive outlook for the market in China. Other factors, such as the proliferating online stores enabling easy availability of a wide range of toys at an affordable price point and a thriving domestic toy market, are also contributing to the market growth. On account of the aforementioned factors, the market is projected to reach a value of US$ 27.2 Billion by 2025, exhibiting a CAGR of 10.6% during 2020-2025.

Market Summary:

  • Based on the product type, plush toys represent the largest segment. Other major segments include electronic/remote control 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 operating in the market. 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.

 

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