Global Toys Market to Reach US$ 326.0 Billion by 2032, Impelled by Growing Popularity of Tech-Savvy Electronic Toys

February 16, 2022 | Retail

As per the latest report by IMARC Group, titled “Toys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” the global toys market size reached US$ 183.0 Billion in 2023. Toys are playthings designed specifically for toddlers and young children. They are available in various sizes and colors and are usually made from clay, cloth, paper, plastic, and wood. Toys enhance intelligence quotient (IQ), increase motor development, improve concentration and creativity, and develop personality and communication skills. They also aid in enhancing the problem-solving capabilities of children while improving their social, cognitive and physical skills. Presently, hi-tech electronic toys, puzzles, board games, action figurines and mechanical cars are gaining widespread popularity among children as they help boost creativity in children and stimulate their imagination.


Global Toys Market Trends:

The market is primarily driven by the rising concerns among parents about the social and emotional development of their children. Moreover, various playschools are incorporating science, technology, engineering, and mathematics (STEM) toys, such as boxes, blocks, musical instruments, and jigsaw puzzles, in their education system to encourage creativity and problem-solving skills in children. This, coupled with the emerging e-commerce industry, is driving the sales of innovative electronic and digital toys across the globe. Apart from this, the growing popularity of tech-savvy electronic toys that depict action figures, such as Batman, Superman, Ironman, and Captain America, is also contributing to the market growth. Furthermore, the increasing product availability through online retail portals and favorable government initiatives encouraging companies to design and introduce toys based on culture, ethos, and local folklore and heroes, are anticipated to propel the market growth. Looking forward, IMARC Group expects the market value to reach US$ 326.0 Billion by 2032, exhibiting a CAGR of 6.5% during the forecast period (2024-2032).


Market Summary:

  • Based on the product type, the market has been classified into action figures, building sets, dolls, games and puzzles, sports and outdoor toys, plush, and others.
  • On the basis of the age group, the market has been categorized into up to 5 years, 5 to 10 years, and above 10 years. 
  • Based on the sales channel, the market has been segmented into supermarkets and hypermarkets, specialty stores, department stores, online stores, and others.
  • Region-wise, the market has been divided into 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 Middle East and Africa.
  • The competitive landscape of the industry has also been examined, along with some of the key players being Clementoni Spa, Funskool Ltd., Hasbro Inc., Lego A/S (Kirkbi A/S), Mattel Inc., Playmobil (Brandstätter Group), Pressman Toy Corporation (Goliath B.V.), Simba Dickie Group, Spin Master, Talicor Inc., Thinkfun Inc. (Ravensburger North America Inc.) and Tomy Company Ltd.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Product Type, Age Group, Sales Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Clementoni Spa, Funskool Ltd., Hasbro Inc., Lego A/S (Kirkbi A/S), Mattel Inc., Playmobil (Brandstätter Group), Pressman Toy Corporation (Goliath B.V.), Simba Dickie Group, Spin Master, Talicor Inc., Thinkfun Inc. (Ravensburger North America Inc.) and Tomy Company Ltd.
Customization Scope 10% Free Customization
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Global Toys Market to Reach US$ 326.0 Billion by 2032, Impelled by Growing Popularity of Tech-Savvy Electronic Toys
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