Toys and Games Market Size Worth USD 1,120.14 Billion in 2032 | Emergen Research
Growing popularity of pop culture which is creating a high demand for limited edition character merchandise is expected to drive toys and games market revenue growth
Vancouver, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The global toys and games market size was USD 308.12 Billion in 2022 and is expected to register a revenue CAGR of 4.7% during the forecast period, according to the latest analysis by Emergen Research. Environmentally friendly toys, often referred to as ‘green toys,’ are gaining popularity among consumers. Companies are also embracing environmental consciousness and are now producing and packaging their products with sustainability in mind. In addition, celebrities are entering strategic partnerships to launch their product lines.
Consumers are actively searching for products that encompass a broader range of life experiences and abilities. In response to this demand, toy manufacturers are making efforts to create items that cater to diverse backgrounds, genders, and physical or cognitive capabilities. For example, dolls and action figures are now offered in various ethnicities and with different abilities, allowing children to connect with characters who reflect their backgrounds.
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Rising popularity of action role-playing games based on TV shows and popular novels is contributing to the market revenue growth. It seems that 2023 is shaping up to be a noteworthy year for the Harry Potter franchise. Building on the massive success of Hogwarts Legacy in February, Warner Bros. has unveiled a new game set in the magical world, titled Quidditch Champions.
However, concerns regarding privacy and security especially in case of video games and smart toys, along with availability of counterfeit and harmful products limit revenue growth of the market.
*Scope of Research*
*Report Details* *Outcome*
Market size in 2022 USD 308.12 Billion
CAGR (2023–2032) 4.7 %
Revenue forecast to 2032 USD 1,120.14 Billion
Base year for estimation 2022
Historical data 2020-2021
Forecast period 2023–2032
Quantitative units Revenue in USD Billion and CAGR in % from 2023 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trendsSegments covered Type, Function, Price Range, Material, Distribution Channel, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled Lego System A/S, Mattel, Tomy, Spin Master, Ravensburger, Playmates Toys Limited, Clementoni Spa, Konami Digital Entertainment, Jakks Pacific, Inc., Sanrio Co., Ltd., Thames & Kosmos, LLC., Bandai Namco Holdings USA Inc., Ubisoft Entertainment, Dream International Limited, MGA Entertainment, LeapFrog Enterprises, Inc., Vivid Imaginations UK, Funko, Nintendo of America Inc., and Activision Publishing, Inc. among others.
Customization scope 10 hours of free customization and expert consultation
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*MAJOR COMPANIES and Market Share Analysis*
The global toys and games market is moderately fragmented, with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective spectrum analyzers. Some major players included in the global toys and games market report are:
· Lego System A/S
· Mattel
· Tomy
· Spin Master
· Ravensburger
· Playmates Toys Limited.
· Clementoni Spa
· Konami Digital Entertainment
· Jakks Pacific, Inc.
· Sanrio Co., Ltd.
· Thames & Kosmos, LLC.
· Bandai Namco Holdings USA Inc.
· Ubisoft Entertainment
· Dream International Limited
· MGA Entertainment
· LeapFrog Enterprises, Inc.
· Vivid Imaginations UK
· Funko
· Nintendo of America Inc.
· Activision Publishing, Inc.
*Strategic Development*
· On 28 November 2022, Hamleys unveiled its latest store at Westfield, White City, offering a diverse range of customer engagements. Within this establishment, visitors can partake in enchanting encounters with Hamley Bear and various other beloved Hamleys characters, along with delightful guest appearances from the realms of television and cinema, all designed to enhance the excitement of the shopping experience. Additionally, the store features unique attractions such as a slide and a dessert boutique.
*Some Key Highlights from the Report*
· The dolls and action figures segment accounted for a significantly large revenue share over the forecast period. Revenue growth of this segment is primarily being driven by factors including impact of pop culture stemming from movies, comics, and TV shows, the availability of customization options allowing users to craft unique characters, and rising demand for officially licensed merchandise from popular franchises. The launch of movies, especially those associated with superhero franchises or major cinematic releases, generates considerable anticipation.
· The mid-range toys segment is expected to account for largest revenue share over the forecast period. Revenue growth of this segment is predominantly driven by factors such as affordability, offering of high-quality products at reasonable prices, and a wide array of choices available. Mid-range toys strike a harmonious balance between cost and quality, which is an aspect that parents find attractive. Furthermore, mid-range toys are often considered suitable for gift-giving, making them a practical choice for events including birthdays and holidays.
· The brick-and-mortar retailers segment is expected to account for largest revenue share over the forecast period. Revenue growth of this segment can be credited to several factors including offering customers a hands-on and immersive shopping experience, providing instant satisfaction, and receiving personal recommendations from in-store experts, which help buyers make more informed choices.
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*Segments Covered in Report*
For the purpose of this report, Emergen Research has segmented the global toys and games market on the basis of type, function, price range, material, distribution channel, and region:
· *Type Outlook (Revenue, USD Billion; 2019-2032)*
· Dolls and Action Figures
· Board Games
· Puzzles
· Outdoor and Sports Toys
· Electronic and Video Games
· Construction Toys
· Plush Toys
· Educational Toys
· Others
· *Function Outlook (Revenue, USD Billion; 2019-2032)*
· Active Play
· Balls
· Bikes
· Swimming Pools
· Scooters
· Others
· Creative Play
· Art Supplies
· Dress-Up Clothes
· Musical Instruments
· Building Blocks
· Others
· Educational Play
· Puzzles
· STEM (Science, Technology, Engineering, and Math) Toys
· Engineering Kits
· Brain Teasers and Logic Games
· Mazes and Labyrinths
· Others
· Social Interaction and Communication
· Board Games
· Card Games
· Cooperative Games
· Role-Playing and Social Playsets
· Others
· Others
· *Price Range Outlook (Revenue, USD Billion; 2019-2032)*
· · Premium Toys
· Mid-Range Toys
· Budget Friendly Toys
· *Material Outlook (Revenue, USD Billion; 2019-2032)*
· · Metal
· Wood
· Plastic
· Fabric and Textile
· Mixed
· Others
· *Distribution Channel Outlook (Revenue, USD Billion; 2019-2032)*
· · Brick-and-Mortar Retailers
· Specialty Stores
· Toy Rental and Subscription Services
· Mass Merchandisers
· Department Stores
· Online Retailers
· Others
· *Regional Outlook (Revenue, USD Billion; 2019–2032)*
· North America
· U.S.
· Canada
· Mexico
· Europe
· Germany
· France
· U.K.
· Italy
· Spain
· Benelux
· Rest of Europe
· Asia Pacific
· China
· India
· Japan
· South Korea
· Rest of APAC
· Latin America
· Brazil
· Rest of LATAM
· Middle East & Africa
· Saudi Arabia
· UAE
· South Africa
· Turkey
· Rest of MEA
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