DUBLIN, Nov. 17, 2023 /PRNewswire/ — The "Global Toy Market Factbook (2023 Edition): Analysis By Product Type, By Age, Distribution Channel, By Region, By Country: Market Insights and Forecast (2018-2028)" report has been added to ResearchAndMarkets.com's offering.
The market has been analyzed for the historical period of 2018-2022, the estimated year 2023 and the forecast period of 2024-2028. The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
During the forecast period, 2024-2028, Global Toys Market is expected to expand at a CAGR of 6.10%. The Global Toy Market is expected to reach USD 152.41 billion by the end of 2028, up from USD 109.25 billion in 2022 due to parents and educators increasingly recognizing the value of play as a vital tool for children's cognitive, social, and emotional development.
The research report presents data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities and demand forecast. The research study also looks at the market growth indicators, restraints, supply and demand risk, and other important statistics, as well as a full assessment of current and future market trends that are relevant to the market evolution.
The toy industry has always been a dynamic and ever-evolving sector, constantly adapting to changing consumer preferences, technological advancements, and societal shifts. In recent years, the toy market has witnessed significant transformations, driven by digital innovation, eco-consciousness, and the rise of educational play.
As a result, educational toys that combine learning and entertainment have gained popularity. STEM (Science, Technology, Engineering, and Mathematics) toys, coding kits, and construction sets promote problem-solving skills, critical thinking, and creativity, preparing children for future careers in a technology-driven world.
One of the main drivers for the growth of the Toys market is the rising role of Toy Sales through Online Retail and E-Commerce Websites where online customers can quickly and easily compare prices for toys across a wide selection of sales channels. Amazon, Target, Walmart, and other online retailers compete in a variety of ways to convince toy customers to buy from their respective sites.
Licensing and brand extension offer new opportunities for toys and game brands to capitalize on their existing brand equity and drive new revenue streams. Through licensing brands are enabled to find new customers, enter new geographical territories, and venture into new retail categories. Toy companies are looking for the sale or license of toys and comic characters and for adaptation into motion pictures, television programs, live theatre productions and other entertainment properties, and product distribution agreements.
Toy brands that work with the entertainment industry have also seen a rise in market share. Toy company LEGO is one of the most persuasive examples of a toy brand that has found success in working within the entertainment industry. Consider the USD 400 million-plus box office revenue of The Lego Movie. LEGO has also partnered with franchise giants like Frozen, Star Wars, Harry Potter, Spiderman, and Batman – among many others.
LEGO also has seemingly endless product options for parents, aligned with almost every major children's film release. While not every brand has a budget like LEGO, this doesn't exclude less-funded toy brands from pursuing opportunities within the entertainment industry. Other options like in-movie product placements or cinema advertisements could help brands gain attention.
This study provides the competitive landscape of the toy industry and profiles leading players like Lego Group, Mattel Inc., Hasbro Inc., Bandai Namco Holding, Spin Master Ltd., Playmobil, MGA Entertainment and others.
The company profiling includes critical information such as a business overview, products and services, key financials, and recent events and developments.
Global Toy Market: Historic and Forecast (2018-2028)
Scope of the Report
Global Toy Market Segmentation: By Product Type
Global Toy Market Segmentation: By Age
Global Toy Market Segmentation: By Distribution Channel
Global Toy Market, Regional Analysis
Industry Ecosystem Analysis
For more information about this report visit https://www.researchandmarkets.com/r/jcw3ei
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