The Indian toys market was worth US$ 1.5 Billion in 2018, registering a CAGR of 15.9% during the year 2011-2018. The market is further projected to cross US$ 3.3 Billion by 2024, growing at a CAGR of 13.3% during 2019-2024. The existence of toys in India dates back to the Indus Valley Civilization around five thousand years ago. The earliest toys included whistles shaped like birds, toy monkeys which could slide down a string and small carts which were made from materials found in nature such as sticks, clay and rocks. In recent years, the advent of advanced technology and machinery has encouraged manufacturers to produce modern and innovative toys.
India has one of the largest young population in the world, owing to which, the toy industry in the country has witnessed a rapid growth. The market is brimming with a wide array of both traditional and modern toys. However, with evolving trends, there has been a shift from conventional toys towards innovative and hi-tech electronic toys. For instance, Lego has replaced wooden building blocks while barbie dolls have now taken over traditional cloth dolls.
Indian Toys Market Drivers
Breakup by Toy Type:
On the basis of toy type, plush toys are the most popular segment as they are considered safe and are popular among children of all age groups. Other major toy types include electronic toys, games and puzzles, construction and building toys, dolls, ride-ons, sports and outdoor play toys, infant/pre-school toys and activity toys.
Breakup by Gender:
Based on gender, unisex toys dominate the Indian toys market, accounting for the majority of the overall market share. Unisex toys are followed by girls’ and boys’ toys.
Breakup by Distribution Channel:
The market has further been segmented on the basis of distribution channel into specialty stores, super and hyper markets, online and others. Currently, specialty stores represent the largest distribution channel.
On a geographical front, Maharashtra currently represents the largest market. Maharashtra is followed by Tamil Nadu, Karnataka, Gujarat, Delhi and others.
Some of the leading players operating in the market are:
This report provides a deep insight into the Indian toys market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the toys market in any manner.
Key Questions Answered in This Report:
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