Dublin, Dec. 19, 2018 (GLOBE NEWSWIRE) -- The "Toys Market - Global Outlook and Forecast 2018-2023" report has been added to ResearchAndMarkets.com's offering.

The global toys market is projected to reach revenues of more than $120 billion by 2023, growing at a CAGR of around 4% during 2017-2023.

The growing dual-income households and improving the purchasing sentiments are two of the major factors propelling the growth of the global market. The development of economics in regions such as APAC, Latin America, and the Middle East and the African continent will create lucrative opportunities for leading players operating in the market.

The global toys market is driven by growing demand for a replica of instruments such as a keyboard, guitar, and drums, art and craft toys, and stuffed toys. The increasing social media penetration, growing audience, and rising user engagement are major factors attributing to the growth of the global market. The market research report provides in-depth market analysis and segmental analysis of the global toys market by category, age group, distribution channel, and geography.

The report considers the present scenario of the global toys market and its market dynamics for the period 2018-2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study covers both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the global toys market.

Toys Market - Dynamics

The recent trend of parents to purchase and invest in educational toys for cognitive development in children is fueling the growth of the global toys market. Millennial parents listen to child psychologists and their popularizers in magazines who provide us with lists of time-tested products that aid in skill development of children.

The increasing number of movies and television shows based on fictional characters will create a cult following among consumers and propel the demand for the products in the global market. For instance, Hasbro becomes a major player through the Transformers movie franchise, and Lego had two movie launches in 2017 including the Lego Batman and Lego Ninjago.

The introduction of the box subscription services in this industry will revolutionize the global toys market over the next few years. The toy box subscription works by curating to the needs of the children and contain toys which are selected for the user. The proliferation of these business models will propel the development of the global toys market during the forecast period.

Toys Market - Segmentation

This market research report includes a detailed segmentation of the market by category, age group, distribution channels, and geography. Games and puzzle segment dominated 1/6th of total market share in 2017, growing at a CAGR of around 9% during the forecast period. The extensive use of this board games and jigsaw puzzles to teach communication skills and language arts to kids as well as adults is fueling the growth of this segment in the global market.

5-12 years segment occupied around 1/4th of the market share in 2017, growing at a CAGR of around 5% during the forecast period.

The toys designed for 5-12 years age group comprises of games and puzzles, construction toys or building blocks, some outdoor and sports toys, and other toys. The growing popularity of licensed toy properties, remote controlled toys including cars and musical toys is propelling the growth of this segment in the global market.

Retail channels dominated more than half of the total market share in 2017, growing at a CAGR of more than 2% during the forecast period. The different playthings through department stores, small chain stores, free-standing toys stores, catalog stores, and other non-tracked retail outlets are driving the growth of this segment in the global market.

Market Dynamics

Market Growth Enablers

  • Desire among parents to provide educational toys for cognitive development
  • Toyetic impact
  • Increased online presence of toy vendors
  • Increase in number of games and puzzle cafes globally

Market Growth Restraints

  • Toy libraries gaining traction among consumers
  • Declining birth rates and aging population globally
  • Growing presence of counterfeit toys and games
  • Raw material price volatility and rising labor costs

Market Opportunities & Trends

  • Toy box subscription services impacting retail sales
  • Internet influencing choice and purchase of toys
  • Increasing digitization of toys and games
  • Increasing threats from online gaming platforms

Companies Mentioned

  • Grey Fox
  • SunOut
  • Simba Toys
  • Playmates Toys
  • K'NEX
  • Lego Group
  • Games Workshop
  • WizKids
  • IELLO Games
  • CMON
  • The Haywire
  • Bandai Namco
  • Mattel
  • Asmode Editions
  • Goliath
  • Hasbro
  • Ravensburger
  • Disney
  • Grey Fox Games
  • Fremont Die Consumer Products
  • Indie Boards and Cards
  • International Playthings
  • Learning Resources
  • Loony Labs
  • Ludo Fact
  • Melissa & Doug
  • Orchard Toys
  • Panda GM
  • Paul Lamond Games
  • Pegasus Spiele
  • Piatnik
  • Pressman Toy
  • RoosterFin
  • Reaper Miniatures
  • Rio Grande Games
  • Schmidt Spiele
  • Spin Master
  • Surprised Stare Games
  • Talicor
  • The Regency Chess Company
  • ThinkFun
  • TREND Enterprises
  • Ultra PRO International
  • University Games
  • USAopoly
  • Winning Moves Games
  • Zobmondo
  • Funskool

For more information about this report visit https://www.researchandmarkets.com/research/nz2k2z/global_120?w=12

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Related Topics: Toys