Dubai, UAE, March 16, 2020 (GLOBE NEWSWIRE) -- The stuffed and plush toys industry is projected to rise at a healthy CAGR of 6% between 2019 and 2029. The widespread demand arising from millennial and generation Y populations are the primary factors driving sales. The transition from conventional offline sales channels to online options will continue to aid the growth of the stuffed and plush toys market. This promising growth outlook can be attributed to the strong demand for themed and vintage toy designs, reveals Fact.MR in its new study.
“Investments in franchises and licensing agreements are expected to be profitable in long term. On the other hand, conventional stuffed and plush toys are riskier, but will generate faster returns in short term”, concludes the Fact.MR report.
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Stuffed and Plush Toys Market – Key Takeaways
- Stuffed and plush toys based on models and action figures to gain substantially, accounting for US$ 1 Bn through the forecast period.
- Hypermarkets, supermarkets and toy stores remain highly preferred channels for sales, growing 1.7x.
- Organic toy stuffing materials is expected to maintain a high growth rate through the end of the forecast period, despite small market share.
- Licensing and branding strategies to gain importance with focus on collectible and vintage products.
- Asia Pacific excluding Japan to account for a third of the global market, with major growth through 2029.
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Stuffed and Plush Toys Market – Key Driving Factors
- Functionality centric innovations and new revenue streams are driving the profits of stuffed and plush toys market.
- Growth in licensing deals to support growth of global market.
- The rising consumer demand for vintage stuffed and plush toys has resulted in a larger consumer base, sustaining market growth.
- Renewed focus on novel themes and functional innovations is pushing the stuffed and plush toys market.
- Changes in gifting trends by consumers contribute to sales of stuffed and plush toys.
Stuffed and Plush Toys Market – Key Constraints
- The continued effects of the trade war between the United States and China is restricting production, impacting market growth.
- The need to comply with strict government regulations associated with toy materials will restrict the market.
Competition Landscape
The global stuffed and plush toys market is largely fragmented. The leading players profiled in the report include, but are not limited to Spin Master Ltd., Mattel Inc., SIMBA-DICKIE-GROUP GmbH, BANDAI NAMCO Holdings Inc., TOMY Company Ltd., LEGO A/S, and Hasbro Inc. Market leaders are investing in expanding product portfolios. Manufacturers are channeling their efforts towards the inclusion of trademarked titles and novel themes, as indicated by the Fact.MR report.
About the Report
This 170-page study offers readers a comprehensive market forecast of the stuffed and plush toys market. Global, regional and country level analysis of the latest industry trends impacting the stuffed and plush toys market are covered in this Fact.MR study. The report offers compelling insights on the stuffed and plush toys market on the basis of product type (cartoon toys, traditional stuffed animals, battery operated, action figures & model play, dolls & playsets, customizable stuffed animals, special feature plush and puppets), application (synthetic toy fillings, natural toy fillings, ecofriendly toy stuffing, organic toy stuffing, and blended materials), sales channel (hyper/super markets, e-commerce, toy stores, discount stores, hobby & craft stores, and others), across six regions (Middle East and Africa, APEJ, Japan, Europe, Latin America, North America).
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