Vietnam Toys Market

Market Overview:

The Vietnam toys market size reached USD 570 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,000 Million by 2033, exhibiting a growth rate (CAGR) of 5.6% during 2025-2033. The market is expanding due to rising disposable income, demand for educational toys, government regulations, and interest in branded products. With a population of 100.3 Million in 2023 and over 1 Million annual births, Vietnam presents a major opportunity for children’s toys, supported by a growing and young demographic.

Toys refer to products designed and crafted with the primary objective of providing amusement, entertainment, and educational value to children. They are available in various types, including action figures, dolls, puzzles, building blocks, educational toys, electronic toys, board games, and remote-controlled toys, among others. Toys are manufactured from a variety of materials, such as plastic, wood, fabric, metal, and rubber. They are utilized in various applications, including cognitive development, motor skills enhancement, emotional development, social skills improvement, and sensory development. Toys aid in fostering creativity, improving concentration, enhancing problem-solving skills, promoting physical activity, and providing a source of comfort and security. They also offer several advantages, like versatility, durability, user-friendliness, safety, and affordability.

Vietnam Toys Market Trends:

Rising Disposable Incomes

The consistent growth in disposable income of Vietnam's middle class is a key driver of the country's toy industry. As incomes grow within households, families are spending more on discretionary categories like children's recreation and educational toys. This economic upturn is particularly evident in urban areas like Ho Chi Minh City and Hanoi, where lifestyle shifts, and aspirational consumption are driving purchasing behavior. Parents are increasingly ready to spend money on quality toys that provide durability, safety, and developmental benefits, driving demand away from cheaper, unbranded products. High-end toy brands, both local and foreign, are seeing enhanced shelf placement and consumer demand. This trend has also created room for specialty toy stores, branded retail, and international franchises to grow in Vietnam. Also, play-time buying during seasons and occasions has picked up pace, and for birthday, holiday, and festival gift purchases, more frequent spending is on the rise. Generally, increased disposable incomes are making toy consumption higher, product options more varied, and new companies entering the Vietnamese toy industry.

Growing Educational Awareness

In Vietnam, there is a growing awareness among parents and educators regarding the role toys play in a child’s cognitive and social development. Parents are becoming more selective, preferring toys that encourage creativity, problem-solving, and communication skills. This rising consciousness has increased demand for educational toys that go beyond entertainment and support structured learning. Items such as building sets, puzzles, memory games, and language tools are gaining traction across both urban and rural markets. Schools and daycare centers are also integrating educational toys into early learning programs, reinforcing their value in childhood development. Vietnamese consumers are increasingly exposed to global parenting trends through digital media, helping drive this shift in preference. Additionally, companies are leveraging this awareness by offering toys aligned with specific learning outcomes and age groups, often categorized according to developmental stages. This change in consumer behavior is also encouraging domestic toy producers to innovate and move away from generic toys. As more parents prioritize holistic growth, educational toys are becoming a vital category, contributing significantly to the expansion and maturity of the Vietnam toys market.

Rapid E-commerce Expansion

E-commerce is transforming the retail landscape in Vietnam, and the toy market is no exception. The increasing use of smartphones and broader internet access have made online shopping more accessible, even in tier-2 and tier-3 cities. Platforms like Tiki, Shopee, Lazada, and official brand websites are offering a wide variety of toys, giving consumers the convenience of browsing and comparing products from home. This shift has made it easier for parents to access international brands and niche educational toys that may not be available in local stores. In addition to ease of access, features like customer reviews, flash deals, and secure payment options are building trust among Vietnamese shoppers. E-commerce also provides opportunities for smaller brands and startups to reach a broader audience without investing heavily in physical retail infrastructure. During national holidays and special sales events, toy purchases through online channels tend to spike. The rise of social commerce and influencer-led promotions has further amplified digital engagement. Altogether, the growth of e-commerce is accelerating product availability, price transparency, and market penetration for the Vietnam toys market.

Increasing Popularity of Licensed Toys

Licensed toys—those based on popular characters, movies, and TV shows—are becoming increasingly popular among Vietnamese children and their parents. Exposure to global entertainment franchises through cable TV, YouTube, and streaming platforms has created strong brand recognition for characters from Marvel, Disney, Pixar, and Japanese anime. Children tend to associate more emotionally with toys that feature familiar characters, which drives demand across categories such as action figures, dolls, playsets, and school accessories. Parents also perceive licensed toys as safer and of better quality, reinforcing their appeal. Retailers have capitalized on this trend by prominently displaying licensed toys and launching exclusive tie-ins during major film releases or cultural events. The appeal of licensed merchandise extends beyond children to collectors and enthusiasts, opening a small but growing niche market. This trend has also encouraged partnerships between international licensors and local distributors or retailers in Vietnam, allowing for better availability and regulated pricing. The popularity of licensed toys not only boosts sales volume but also elevates product standards in the broader toy market.

Focus on STEM Learning

The emphasis on STEM (Science, Technology, Engineering, and Mathematics) education is gaining ground in Vietnam, driven by national education reforms and a competitive academic culture. Parents, teachers, and educational institutions are increasingly recognizing the value of early STEM exposure in preparing children for future careers and challenges. As a result, there is growing demand for STEM-related toys that foster analytical thinking, creativity, and technical skills. These include robotic kits, coding toys, electronic building blocks, and science experiment kits. Vietnamese toy retailers are expanding their STEM categories to meet this demand, and many international brands have entered the market with specialized products. Government-supported programs and private schools are also integrating STEM toys into their extracurricular and classroom activities. Some local manufacturers have begun developing STEM-aligned toys that reflect Vietnam’s curriculum and language needs. This growing interest in educational depth and innovation is reshaping purchasing priorities. STEM toys are no longer viewed as niche—they are becoming essential learning tools in households that value a balanced mix of play and education.

App-Connected and Hybrid Toys

App-connected and hybrid toys are gaining traction in Vietnam as digital literacy among children increases. These toys combine physical play with digital interaction, using apps, sensors, or Bluetooth technology to deliver immersive experiences. Parents in urban areas, especially those with tech-savvy households, are driving this shift by seeking toys that balance screen time with hands-on engagement. App-connected toys include programmable robots, AR-based puzzles, and interactive storybooks that sync with tablets or smartphones. Their appeal lies in offering real-time feedback, gamified learning, and evolving challenges that keep children engaged over time. Vietnamese startups and regional distributors are gradually introducing such products through online and specialty retail channels. While pricing can be a barrier for some consumers, promotional campaigns and educational partnerships are helping increase awareness and adoption. These toys also cater to older age groups who are moving past traditional toys but still enjoy play-based learning. By merging physical and digital environments, app-connected and hybrid toys are influencing new consumer expectations and shaping the future of toy design and functionality in Vietnam.

Vietnam Toys Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product type, age group, and sales channel.

Product Type Insights:

• Action Figures
• Building Sets
• Dolls
• Games and Puzzles
• Sports and Outdoor Toys
• Plush
• Others

The report has provided a detailed breakup and analysis of the market based on the product type. This includes action figures, building sets, dolls, games and puzzles, sports and outdoor toys, plush, and others.

Age Group Insights:

• Up to 5 Years
• 5 to 10 Years
• Above 10 Years

A detailed breakup and analysis of the market based on the age group have also been provided in the report. This includes up to 5 years, 5 to 10 years, and above 10 years.

Sales Channel Insights:

• Supermarkets and Hypermarkets
• Specialty Stores
• Department Stores
• Online Stores
• Others

The report has provided a detailed breakup and analysis of the market based on the sales channel. This includes supermarkets and hypermarkets, specialty stores, department stores, online stores, and others.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Top Toy Manufacturers in Vietnam:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the key players include: 

• Canh Dieu Toys
• Cotec Plastic Corporation
• Dream International Limited
• Simba Toys Vietnam Limited (Simba Dickie Group)
• Viet Tinh Anh Toys

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Vietnam Toys Market Recent News:

• June 2025, Van Hanh Mall announced the launch of Chinese toy brand Pop Mart in Ho Chi Minh City. This marked a key entry of international toys into Vietnam’s retail scene, boosting brand exposure, expanding consumer choice, and accelerating modern toy retail development in urban shopping malls.
• April 2025, OH!SOME launched its first Vietnam store at Crescent Mall, Ho Chi Minh City, offering global fashion toys and Disney IP collections. This entry expanded retail access to branded toys, introduced interactive in-store experiences, and strengthened Vietnam’s position in the premium toy retail segment.
• April 2025, Lego opened a USD 1 Billion factory in Binh Duong, Vietnam, powered entirely by clean energy. This marked a major step in sustainable toy manufacturing, strengthened local production capacity, and reinforced Vietnam’s position as a key hub for high-tech, eco-conscious toy manufacturing in Asia.
• September 2024, MINISO opened Vietnam’s first Sanrio characters-themed store at Van Hanh Mall, Ho Chi Minh City. Featuring 400 exclusive toy and accessory SKUs, the launch boosted themed toy retail, set new sales records, and strengthened the presence of licensed character toys in Vietnam’s growing market.

Vietnam Toys Market Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam toys market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam toys market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam toys industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.