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Indian Toys Market to Reach US$ 2.73 Billion by 2027, Supported by the Introduction of Diverse Product Categories

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Indian Toys Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Overview:

The Indian toys market reached a value of US$ 1.35 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.73 Billion by 2027, exhibiting a CAGR of 12.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

 

 
 

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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

  • Driven by a huge consumer base, India represents an important market for toys. With a population of around 1.3 Billion, it is the second largest populated country in the world.  Morever, the country has a very large young population with around half of the total population under the age of 25.
  • The increasing domestic demand for toys in India is also being catalysed by the country’s strong economic growth and rising disposable incomes. India has exhibited strong GDP growth rates for the last several years and now represents amongst the world’s largest economies. Driven by this trend, the middle-class population has experienced strong growth in the region. consumers have more disposable incomes and their spending patterns have also changed. This has resulted in a major shift from traditional, medium- to low-end battery-operated toys, towards innovative electronic toys, intelligent toys as well as upmarket plush toys.
  • There are a large variety of toys currently available in the market. The diverse product category ranges from traditional plush toys, construction and building toys, dolls, board games and puzzles to high-end electronic toys, educational toys, ride-ons, etc. There are toys which are domestically produced by small, medium and large manufactures and also those that are produced from renowned international brands. Each toy category has inexpensive and high-end versions.
  • Online sales channels have also recently witnessed a boom in India with the evolution of smartphones and other digital media. As quality and features of products can be discussed among shoppers, and prices can be compared on various platforms, online sales channels have appeared to be one of the fastest growing distribution channels for toys in India.

 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian toys market, along with forecasts at the country and state level from 2022-2027. Our report has categorized the market based on toy type, gender and distribution channel.

Breakup by Toy Type:

  • Plush Toys
  • Electronic Toys 
  • Games and Puzzles 
  • Construction and Building Toys 
  • Dolls 
  • Ride-Ons 
  • Sports and Outdoor Play Toys 
  • Infant/Pre-school Toys 
  • Activity Toys 
  • Other Toys 
     

On the basis of the toy type, infant/pre-school toys are the most popular segment as they help develop problem-solving and motor skills among children. Other major toy types include electronic toys, games and puzzles, construction and building toys, dolls, ride-ons, sports and outdoor play toys, plush toys and activity toys.

Breakup by Gender:

 

 
 

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  • Unisex Toys 
  • Toys for Boys 
  • Toys for Girls 
     

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:

  • Specialty Stores 
  • Super Markets and Hyper Markets 
  • Online 
  • Others 
     

The market has further been segmented on the basis of distribution channel into specialty stores, super and hyper markets, online and others. 

Regional Insights:

  • Maharashtra 
  • Tamil Nadu 
  • Karnataka 
  • Gujarat 
  • Delhi 
  • Others
     

On a regional basis, Maharashtra currently represents the largest market. Maharashtra is followed by Tamil Nadu, Karnataka, Gujarat, Delhi and others.

Competitive Landscape:

Some of the leading key players in Indian toys industry are:

  • Funskool
  • Lego
  • Mattel
  • Hasbro
     

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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Toy Type, Gender, Distribution Channel, States
State Covered  Maharashtra, Tamil Nadu, Karnataka, Gujarat, Delhi and Others
Companies Covered Funskool, Lego, Mattel and Hasbro
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1   Preface
2   Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction
    4.1    Overview
    4.2    Key Industry Trends
5   Global Toys Market 
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Breakup by Product Type
    5.4    Market Breakup by Gender 
    5.5    Market Breakup by Distribution Channel 
    5.6    Market Breakup by Region 
    5.7    Market Forecast 
6   Indian Toys Market 
    6.1    Market Overview
    6.2    Market Performance
    6.3    Impact of COVID-19
    6.4    Market Breakup by Toy Type 
    6.5    Market Breakup by Gender 
    6.6    Market Breakup by Distribution Channel 
    6.7    Performance of Various States
    6.8    Market Forecast 
    6.9    Key Price Indicators 
    6.10    SWOT Analysis 
        6.10.1    Overview
        6.10.2    Strengths
        6.10.3    Weaknesses
        6.10.4    Opportunities
        6.10.5    Threats
    6.11    Value Chain Analysis
        6.11.1    Overview 
        6.11.2    Research and Development 
        6.11.3    Raw Material Procurement 
        6.11.4    Manufacturing 
        6.11.5    Quality Control 
        6.11.6    Marketing 
        6.11.7    Distribution 
        6.11.8    Retailers 
        6.11.9    End Users 
    6.12    Porters Five Forces Analysis
        6.12.1    Overview
        6.12.2    Bargaining Power of Buyers
        6.12.3    Bargaining Power of Suppliers
        6.12.4    Degree of Competition
        6.12.5    Threat of New Entrants
        6.12.6    Threat of Substitutes
    6.13    Government Initiatives 
7   Market Breakup by Toy Type 
    7.1    Plush Toys 
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Electronic Toys 
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    Games and Puzzles 
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Construction and Building Toys 
        7.4.1    Market Trends
        7.4.2    Market Forecast
    7.5    Dolls 
        7.5.1    Market Trends
        7.5.2    Market Forecast
    7.6    Ride-Ons 
        7.6.1    Market Trends
        7.6.2    Market Forecast
    7.7    Sports and Outdoor Play Toys 
        7.7.1    Market Trends
        7.7.2    Market Forecast
    7.8    Infant/Pre-school Toys 
        7.8.1    Market Trends
        7.8.2    Market Forecast
    7.9    Activity Toys 
        7.9.1    Market Trends
        7.9.2    Market Forecast
    7.10    Other Toys 
        7.10.1    Market Trends
        7.10.2    Market Forecast
8   Market Breakup by Gender 
    8.1    Unisex Toys 
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Toys for Boys 
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Toys for Girls 
        8.3.1    Market Trends
        8.3.2    Market Forecast
9   Market Breakup by Distribution Channel 
    9.1    Specialty Stores 
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Super Markets and Hyper Markets 
        9.2.1    Market Trends
        9.2.2    Market Forecast
    9.3    Online 
        9.3.1    Market Trends
        9.3.2    Market Forecast
    9.4    Others 
        9.4.1    Market Trends
        9.4.2    Market Forecast
10  Performance by Various States 
    10.1    Maharashtra 
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Tamil Nadu 
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Karnataka 
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Gujarat 
        10.4.1    Market Trends
        10.4.2    Market Forecast
   10.5    Delhi 
        10.5.1    Market Trends
        10.5.2    Market Forecast
    10.6    Other States 
        10.6.1    Market Trends
        10.6.2    Market Forecast
11  Toys Manufacturing Process 
    11.1    Product Overview 
    11.2    Raw Material Requirement 
    11.3    Various Types of Unit Operations Involved 
    11.4    Key Success and Risk Factors 
12  Competitive Landscape 
    12.1    Market Structure 
    12.2    Market Breakup by Key Players 
13  Key Players Profiles 
    13.1    Funskool  
    13.2    Lego 
    13.3    Mattel 
    13.4    Hasbro

List of Figures

Figure 1: India: Toys Market: Major Drivers and Challenges
Figure 2: Global: Toys Market: Value Trends (in Billion US$), 2016-2021
Figure 3: Global: Toys Market: Breakup by Product Type (in %), 2021
Figure 4: Global: Toys Market: Breakup by Gender (in %), 2021
Figure 5: Global: Toys Market: Breakup by Distribution Channel (in %), 2021
Figure 6: Global: Toys Market: Breakup by Region (in %), 2021
Figure 7: Global: Toys Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 8: India: Toys Market: Value Trends (in Billion US$), 2016-2021
Figure 9: India: Toys Market: Breakup by Toy Type (in %), 2021
Figure 10: India: Toys Market: Breakup by Gender (in %), 2021
Figure 11: India: Toys Market: Breakup by Distribution Channel (in %), 2021
Figure 12: India: Toys Market: Performance of Various States (in %), 2021
Figure 13: India: Toys Market Forecast: Value Trends (in Billion US$), 2022-2027
Figure 14: Toys Manufacturing: Breakup of Production Cost (in %)
Figure 15: India: Toys Industry: SWOT Analysis
Figure 16: India: Toys Industry: Value Chain Analysis
Figure 17: India: Toys Industry: Porter’s Five Forces Analysis
Figure 18: India: Plush Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 19: India: Plush Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 20: India: Electronic Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 21: India: Electronic Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 22: India: Games and Puzzles Market: Value Trends (in Million US$), 2016 & 2021
Figure 23: India: Games and Puzzles Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 24: India: Construction and Building Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 25: India: Construction and Building Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 26: India: Dolls Market: Value Trends (in Million US$), 2016 & 2021
Figure 27: India: Dolls Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 28: India: Ride-on Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 29: India: Ride-on Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 30: India: Sports and Outdoor Play Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 31: India: Sports and Outdoor Play Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 32: India: Infant/Pre-School Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 33: India: Infant/Pre-school Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 34: India: Activity Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 35: India: Activity Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 36: India: Other Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 37: India: Other Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 38: India: Toys (Unisex) Market: Value Trends (in Million US$), 2016 & 2021
Figure 39: India: Toys (Unisex) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 40: India: Toys (Boys) Market: Value Trends (in Million US$), 2016 & 2021
Figure 41: India: Toys (Boys) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 42: India: Toys (Girls) Market: Value Trends (in Million US$), 2016 & 2021
Figure 43: India: Toys (Girls) Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 44: India: Toys Market: Sales through Specialty Stores (in Million US$), 2016 & 2021
Figure 45: India: Toys Market Forecast: Sales through Specialty Stores (in Million US$), 2022-2027
Figure 46: India: Toys Market: Sales through Supermarkets and Hypermarkets (in Million US$), 2016 & 2021
Figure 47: India: Toys Market Forecast: Sales through Supermarkets and Hypermarkets (in Million US$), 2022-2027
Figure 48: India: Toys Market: Sales through Online Stores (in Million US$), 2016 & 2021
Figure 49: India: Toys Market Forecast: Sales through Online Stores (in Million US$), 2022-2027
Figure 50: India: Toys Market: Sales through Other Distribution Channels (in Million US$), 2016 & 2021
Figure 51: India: Toys Market Forecast: Sales through Other Distribution Channels (in Million US$), 2022-2027
Figure 52: India: Toys Market Forecast: Performance of Key Regions (in Million US$), 2022-2027
Figure 53: Maharashtra: Toys Market: Value Trends (in Million US$), 2016 & 2021 
Figure 54: Maharashtra: Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 55: Tamil Nadu: Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 56: Tamil Nadu: Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 57: Karnataka: Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 58: Karnataka: Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 59: Gujarat: Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 60: Gujarat: Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 61: Delhi: Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 62: Delhi: Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 63: Other States: Toys Market: Value Trends (in Million US$), 2016 & 2021
Figure 64: Other States: Toys Market Forecast: Value Trends (in Million US$), 2022-2027
Figure 65: Plush Toy Manufacturing: Detailed Process Flow
Figure 66: India: Toys Market: Breakup by Key Players (in %), 2021

List of Tables

Table 1: Global: Toys Market: Key Industry Highlights, 2021 and 2027
Table 2: India: Toys Market: Key Industry Highlights, 2021 and 2027
Table 3: India: Toys Market Forecast: Breakup by Toy Type (in Million US$), 2022-2027
Table 4: India: Toys Market Forecast: Breakup by Gender (in Million US$), 2022-2027
Table 5: India: Toys Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 6: Plush Toy Manufacturing: Raw Material Requirement
Table 7: India: Toys Industry: Competitive Structure

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Key Questions Answered in This Report

The Indian toys market was valued at US$ 1.35 Billion in 2021.

We expect the Indian toys market to exhibit a CAGR of 12.6% during 2022-2027.

The growing demand for educational toys to enhance experimental learning experiences among the
children, along with the advent of innovative electronic digital toys, is primarily driving the Indian
toys market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase
toys in India.

Based on the toy type, the Indian toys market has been segmented into plush toys, electronic toys,
games and puzzles, construction and building toys, dolls, ride-ons, sports and outdoor play toys,
infant/pre-school toys, activity toys, and other toys. Among these, infant/pre-school toys represent
the largest market share.

Based on the gender, the Indian toys market can be bifurcated into unisex toys, toys for boys, and
toys for girls. Currently, unisex toys account for the majority of the total market share.

On a regional level, the market has been classified into Maharashtra, Tamil Nadu, Karnataka,
Gujarat, Delhi, Others, where Maharashtra currently dominates the Indian market.

Some of the major players in the Indian toys market include Funskool, Lego, Mattel, Hasbro, etc.

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