Toys Market is projected reach $103.8 billion by 2027

 According to a new report published by Allied Market Research, titled, “Toys Market by Product Type, Age Group and Sales Channel: Opportunity Analysis and Industry Forecast, 2021–2027,” the toys market size was $92.2 billion in 2019, and is projected reach $103.8 billion by 2027, registering a CAGR of 2.5% from 2021 to 2027.


The increase in number of games bars, cafes and family entertainment centers worldwide is boosting the demand for toys and games. These family entertainment centers, game bars and cafes are witnessing a high traction and had gained remarkable popularity across the world in the course of recent years. The quick expansion of game cafes is encouraging children as well as adults to learn new games along with connecting each other for meaningful social interactions. In the U.S. over 5,000 board games cafes were inaugurated in the year 2016. Furthermore, there are over 700 game cafes in China and in 2017, in addition about 60 game cafes were opened in Beijing alone. The increase in number of these cafes and entertainment centers that cater to both kids and adults help generate high revenues for the players operating in the global toys market.


Some of the Prominent Players Reviewed in the Research Report include:-
* ATLAS GAMES,
*CLEMENTONI, .
*GOLIATH GAMES,
*HASBRO,
*THE LEGO GROUP,
*MATTEL,
*RAVENSBURGER,
*TOMY,
*VTECH HOLDINGS,
*THAMES & KOSMOS


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Engaged players in the toys industry are striving to make more environmentally conscious decision about their product portfolios, especially in terms of toys packaging. The players are focusing on minimalistic usage of plastic along with ensuring packaging is part of the toy. Plethora of initiatives have been launched in past few years ranging from adopting recycled packaging materials and minimal packaging to adopting bio-based plastics instead of their petroleum counterpart. For instance, MGA Entertainment has introduced new biodegradable ball as a new product offering in its L.O.L Surprise! Doll line. Furthermore it also introduced a new product line from Little Tikes using blend of recycled resins as raw material. Another company, Safari Ltd. is offering BioBuddi line of toy blocks, much like Mega Bloks and Lego, which uses sugarcane in the production and manufacturing of toys. Such practices adopted by the players paves the way for more sustainable and environmentally friendly products in the future.


Key Findings Of The Study

*By region, Asia- is anticipated to grow with robust CAGR of 5.4% during the forecast period.
*By product type, the sports and outdoor toys segment led in terms of toys market share, in 2019; however action figure segment is expected to gain market share in the upcoming years.
*By age group, the 5 to 10 Years segment accounted for about two-fifth share of the toys market in 2019; however, the children toys market segment is poised to grow at the highest CAGR during the forecast period.
*By sales channel, the online channels segment is expected to gain market share in the upcoming years and is estimated to grow at a CAGR of 4.5% during the toys market forecast period.


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Toys Market Report Highlights

By Product Type
>ACTION FIGURES
>BUILDING SETS
>Dolls
>Games and Puzzles
>Sports and Outdoor Toys
>Plush
>OTHERS

By Age Group
>Upto 5 Years
>5 to 10 Years
>Above 10 Years

By Region
>NORTH AMERICA (US, CANADA, MEXICO)
>EUROPE (UK, GERMANY, FRANCE, ITALY, SPAIN, RUSSIA, REST OF EUROPE)
>ASIA-PACIFIC (CHINA, INDIA, JAPAN, ASEAN, AUSTRALIA, REST OF ASIA-PACIFIC)
>LAMEA (BRAZIL, SAUDI ARABIA, SOUTH AFRICA, REST OF LAMEA)


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