Global traditional toys and games market is projected to grow at the CAGR of 3.1% during the forecast period, 2020 to 2025.
- Commercialization of favorite movies and cartoon characters such as Spiderman, Ironman, Superman, and Doraemon is the core strategy used by toy manufacturers to attract children. Moreover, construction toys are driving the market, as it aids the children in the development of their brains and inculcates different methods of learning.
- Players in traditional toys and games must adapt to the digital era in order to stay relevant to children. Children are spending more time online, especially on mobile devices, which is expected to restraint the market studied in the future.
- India and China are one of the most populous countries in the world. About 5% of this population India are infants aged 0-2-years-old, implying a huge customer base for baby and infant toys. Thereby, this factor too is expected to increase the market size during the forecast period.
Key Market Trends
Cognitive and Intellectual Benefits to Children
Parents are increasingly encouraging their kids to buy outdoor and sports toys due to the growing prevalence of childhood obesity and other health problems in many countries across the globe. Apart from outdoor and sports toys, demand for construction toys is also growing a fast rate mainly driven by their vast cognitive and intellectual benefits among kids of different age groups. Currently, parents, as well as teachers, are recognizing the overall importance of these construction toys for fostering spatial and creative skills among pre-school kids, thus the sales of this traditional toy variety are increasing. Also, the rising usage of construction toys among adult kids for boosting their learning capabilities is one of the key factors driving the overall growth of this traditional toy category. In the last few years, a number of toy manufacturers have focused on bringing new shapes and design options that allow children to create an array of innovative constructions.
For instance, in 2018 Paul Lamond Games launched a new brick construction toy line with a football focus in the shape of Nanostars. The range is created to combine admiration of football among kids with the activity of building brick constructions.
Increasing Demand in the Asiatic Countries
Traditional Toys and games market in Asia-Pacific is expected to expand its footprint on the industry due to countries like China, where the disposable income of people has increased and parents have increasingly started viewing traditional toys as an important tool for child development. It is expected that China would hold the highest share in traditional toy and games market in Asia-Pacific during the forecasted period due to the abolishment of the one-child policy in the country as of 2016, which thereby increases child population growth and subsequently toy demand in the years to come.
Some of the key players in the global market are Hasbro, Inc., Dream International Limited, Kirkbi A/S (LEGO System A/S); TOMY, Mattel, BANDAI NAMCO Holdings.Inc and are focusing on R&D to launch innovative games as per consumer preference. Moreover, the comfort and safety of the kids are taken into consideration while making a new product. Manufacturers are focusing on expanding their sales or business by broadening their product offerings or setting up new production plants in the global market. For instance, in 2017, Tablez India (a part of Abu Dhabi-based LuLu Group International) in an exclusive agreement with Toys Pvt Ltd, introduced global retail brand Toys "R" Us in the Indian market.
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