Global Toys And Games Market to Witness Soaring Growth During 2024– 2030: Grand View Research Inc.

 

Toys and Games Market Growth & Trends

The global toys and games market size is expected to reach USD 439.91 billion by 2030, growing at a CAGR of 4.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. Sales increased as the pandemic spread. Toy sales increased in 2020, with games & puzzles, dolls & action figures, and outdoor plays being the most popular categories. The use of weather-related items was a big aspect of outdoor activity. Sleds, snow-coloring toys, inflatables, and tools for building snow structures flew off the shelves. Due to the ease of accessibility, a large range of products, and competitive pricing, consumers are increasingly purchasing toys and games through the e-commerce channel.

The increasing sales of video games emerged as a key growth driver for the toys and games industry, reflecting changing consumer preferences and a digital transformation in entertainment. The widespread adoption of video games is evident in the substantial financial commitment made by American families, as reported by The Ascent, a Motley Fool personal finance review service. On average, American families spent USD 431 on video games, including consoles and accessories, in 2022.

The popularity of 3D and 4D puzzles has sparked creativity and excitement in the industry. These puzzles provide a more immersive experience, higher levels of engagement, and possibly even educational advantages. Wrebbit Puzzle Inc., a Canadian company, focuses on 3D puzzles. It creates a wide variety of puzzles with different themes, such as Harry Potter, Game of Thrones, and Lord of the Rings. In April 2021, the business introduced its Central Perk, a 440-piece 3D jigsaw puzzle based on the television series ‘Friends’.

Due to the rising environmental awareness among consumers and the trend of using eco-friendly and socially responsible products, the market is currently experiencing increased demand for sustainable games and puzzles. Market players have been addressing this trend by creating and promoting eco-friendly products, utilizing sustainable resources, and implementing eco-friendly manufacturing and distribution procedures. To reduce its impact on the environment, for instance, a U.S.-based corporation called Mattel, Inc. always attempts to optimize its resource use.

Request a free sample copy or view report summary: Toys And Games Market Report

Toys And Games Market Report Highlights

• Based on product, the electronic games segment accounted for the largest revenue share in 2023, due to their immersive and interactive experiences, appealing to modern consumers' preferences for technology-driven entertainment. The growth of digital platforms and advancements in gaming technology have propelled the popularity of electronic games, making them a dominant force in the industry.
• Demand for toys and games in the 0–8 age segment is forecasted to rise at a high CAGR. This is due to the natural inclination of young children to play and explore, coupled with their rapid cognitive and motor skill development during this period. The rising population globally will also push demand.
• Offline channel accounted for the largest share of the 2023 global market due to consumers' preference for a hands-on shopping experience, allowing them to physically interact with the products and make immediate purchases
• Central & South America region is projected to rise at the fastest CAGR from 2024 to 2030. Factors such as a growing young population, increasing disposable incomes, urbanization, and rising middle-class segment will propel the demand for toys and games in the market

Access Press Release@ https://www.grandviewresearch.com/press-release/global-toys-games-market

Toys And Games Market Report Highlights

Grand View Research has segmented the global toys and games market based on product, application, distribution channel, and region:

Toys And Games Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Electronic Games
• Outdoor & Sport Toys
• Dolls
• Preschool Toys
• Games & Puzzles
• Others

Toys And Games Application Outlook (Revenue, USD Billion, 2018 - 2030)

• Up to 8 years
• 9-15 years
• 15 years & above

Toys And Games Distribution Channel Outlook (Revenue, USD Billion, 2018 - 2030)

• Offline
• Online

Toys And Games Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • UK.
  • Germany
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players in the Toys And Games Market

• Spin Master
• The LEGO Group
• SANRIO CO., LTD.
• Playmates Toys Limited
• JAKKS Pacific, Inc.
• Mattel
• Hasbro
• Schylling
• Bandai Namco Holdings Inc.
• Dream International Limited

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.