Traditional Toys and Games Market

Traditional Toys and Games Market, by
Product Type, Distribution Channel, Age
Demographic - Global Trends, Forecast
till 2025
The global traditional toys and games market was valued at US$ 91.54 billion in 2016
and is expected to exhibit a CAGR of 4.84%, in terms of revenue to reach US$ 138.61
billion by 2025. The market includes traditional toys and games products such as
outdoor and sports toys, puzzles, educational toys, construction sets and model
vehicles among others.
The market has observed a significant boost in sales in the emerging regions of the
world. This can be attributed to increasing purchasing power and per capita spend on
toys by consumers in China, India, ASEAN, and Brazil. Despite a high per capita
spending on toys and games by consumers in North America and Europe, the regions
are witnessing slow growth due to growing inclination towards digital gaming. The
traditional toys and games market in North America was valued at US$ 28.73 billion in
2016 and is projected to exhibit a CAGR of 4.87% over the forecast period (2017-2025).
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Thin profit margins in the market, are preventing major players to make large
investments in the market. Companies are focused on growing their core competency in
their core markets. For example, the LEGO Group is focused on increasing its market
share in the construction sets instead of expanding its product portfolio. This has
allowed domestic players in emerging economies such as China, India, and ASEAN to
capture market share. For instance, in India, Mattel relies on imports from Malaysia and
Indonesia to cater to the market in India. The lack of local manufacturing base coupled
with brand value has rendered the company’s toys unaffordable to a many consumers
in the country. This has supplemented the rise of domestic players such as Funskool
which is also a licensed manufacturer for LEGO, Hasbro, Takara Tomy, and LeapFrog.
Online sales of toys has increased rapidly over the recent past, in turn, resulting in
manufacturers of toys and games to seek partnerships with online stores. For instance,
Mattel and Alibaba Group Holdings Ltd have entered into a partnership, which allows
Alibaba to sell the former company’s products online.
Among product types, the outdoor and sports toys segment is projected to be the
largest segment over the forecast period. The segment was valued at US$ 13.85 billion
in 2016 and is expected to exhibit a CAGR of 5.98% over the forecast period, to reach
US$ 23.18 billion by 2025.
Cross-over products, combining traditional toys and games and digital media is
increasingly being observed. The popularity of technology toys across the traditional
toys and games industry is increasing. In 2014, Takara Tomy and Huawei Technology
entered into an agreement for the development of toys in China. Takara Tomy has
similar partnerships with Docomo and PlayFusion Limited.
Brand and product counterfeiting poses as a major concern for industry players. Lack of
trademark protection in emerging economies of Asia Pacific and Latin America has led
to counterfeiting. Counterfeited products are usually not manufactured with appropriate
safety standards, thus posing a risk to consumers. Toxic coatings and glues used in
counterfeited toys pose a risk to consumers as the chemicals leach out over time. This
may result in ingestion or inhalation of the chemicals. Trademark infringement is
commonly observed in emerging economies such as India, China, and Turkey.
North America and Europe accounted for major shares in the global traditional toys and
games market, in terms of revenue, in 2016. In Asia Pacific, the low purchasing power
among the populace in rural areas of emerging economies, is expected to hinder growth
of the traditional toys and games market.
Major Players in the Global Traditional Toys and Games Market
Major players operating in the global traditional toys and games market include Dream
International Limited, Hasbro, Inc., Mattel, Inc., Funskool Limited, Lego A/S, Jakks
Pacific Inc., Tomy Co. Ltd., LeapFrog Enterprises Inc., Spin Master Corp., and Bandai
Namco Holdings Inc.
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North America and Europe accounted for major shares in the global traditional toys and games market, in terms of revenue, in 2016. The traditional toys and games market in North America was valued at US$ 28.73 billion in 2016 and is projected to exhibit a CAGR of 4.87% over the forecast period (2017-2025)

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