Traditional Toys and Games Market

Traditional Toys and Games Market - Global Trends,
and 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.
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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).
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.
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

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