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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Market Dynamics
Emerging economies of Latin America and Asia Pacific are expected to drive growth of the market, due to increasing spending power of the populace in countries such as Brazil, Argentina, China, India, and Indonesia is fueling growth of the market. Europe and North America are expected to witness slow growth over the forecast period due to falling birth rates and aging populace. Major factors restraining growth of the market include the growing predilection towards smartphones and computer games over traditional toys and games. This trend is particularly evident in the urban areas of both North America and Europe. Outdoor and sports toys product type segment is expected to the largest and fastest growing segment. Among distribution channels, online segment is expected to be the fastest growing. This has enabled small and medium sized manufacturers of toys and games to expand their customer base.
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.
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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. 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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