Construction Toys Market Size, COVID-19 Impact Analysis, Regional Outlook, Trend, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI5097
Construction Toys Market Size is expected to witness a high growth potential between 2021 and 2027. The growing revenue share of these toys can be attributed to the ability of these toys to enhance the cognitive and creative thinking abilities of children. These toys are offered in sets of small components such as blocks, bricks, and connectors. They allow children to assemble them in creative ways to build their desired shapes and structures. These structures can be quickly deformed and built, keeping children engaged for a longer duration. The lightweight and colorful nature of these toys will further contribute to their escalating demand in the market.
The growing adoption of toy blocks and bricks in playschools, day-care centers, and elementary schools is driving the market growth. The increasing awareness of the educational and skill development abilities of construction toys is fueling demand in the residential & commercial sectors. Several research studies have highlighted the importance of construction toys in the overall development of children.
Key challenges faced by the construction toys market include small-sized components and toxic materials used in the manufacturing of these toys. Construction toy sets include a large number of small-sized bricks, connectors, and blocks. These can prove to be extremely dangerous to small children if swallowed. Furthermore, the high demand for these toys has led to the abundant availability of low-quality and counterfeit products in the market. These low-quality toys are made from low-grade plastics or other harmful materials, which are harmful to children’s health. Rising safety concerns related to construction toys in the minds of parents and teachers are further restricting the industry growth.
The market is facing several growth restraints attributed to the rapidly spreading COVID-19 pandemic. Global economic slowdown coupled with the loss of employment opportunities has led to rising financial insecurities among consumers. This has impacted the sales of toys and recreational items. Consumers are largely focusing on purchasing essential items, such as groceries and medicines, during these uncertain economic conditions. Toy manufacturers are facing a severe shortage of raw materials and labor, hampering their production capabilities. The demand-supply gap is also widening with huge delays in delivery times. The market will showcase steady growth with a reduction in impacts due to the pandemic.
The amplifying market trend of eco-friendly and environmentally sustainable toys is providing new opportunities to the market players. In response to this trend, manufacturers are focusing on minimizing the environmental footprint of their toys by reducing the amount of plastic used in packaging and manufacturing. Companies are also launching new ‘green toys’ to cater to the growing demand for such toys from environmental-conscious consumers.
Bricks & blocks are poised to observe a high growth in the market owing to their simple shapes, low weight, and colorful appearance. Blocks & bricks can be easily stacked on one another with the help of grooves embedded in them. Companies operating in the market are launching new construction toy sets based on cartoon characters and famous movies & TV shows to attract children.
Plastic toys are gaining high popularity in the market led by their low cost and lightweight. These toys are available at different price points that are suitable for all income groups. Innovations in the field of non-toxic plastics to manufacture kid-friendly toys are fostering the market progression. Wooden toys are also projected to register steady growth in demand due to their fine texture, attractive colors, and sustainability in the long run.
Online channels, such as e-commerce sites and company websites, are predicted to witness tremendous growth over the forecast period. The popularity of these channels can be attributed to features such as 24-hour delivery and a wide toy collection to choose from.
North America construction toys market is slated to grow at a rapid rate impelled by the increasing usage of these toys in playschools and households. Hectic schedules and busy lifestyles of the parents in this region are encouraging them to invest in specialty toys to keep children active and engaged for long durations. Moreover, the ability of these toys to speed up the brain development process of kids is also contributing to the regional growth.
Key players operating in the market include Mattel, K’NEX (Basic Fun, Inc.), The LEGO Group, Playmonster LLC, Tegu, KnuckleStrutz, Hamleys, and Nanoblock. These companies focus on partnerships with media houses and entertainment companies to introduce themed toys in the market.
The market research report of construction toys includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:
Market, By Type
- Bricks & blocks
- Tinker toys
Market, By Material
Market, By Distribution Channel
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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