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Kids Toys Market - Type (Electronic Toys, Games & Puzzles, Construction & Building Toys, Dolls, Ride-ons, Sports & Outdoor Play Toys), By Gender & Global Forecast, 2024 – 2032
- Report ID: GMI5575
Kids Toys Market Size
Kids Toys Market is expected witness sustained growth during 2024-2032, driven by the shifting preference from conventional toys toward modern and hi-tech electronic toys. The growing demand for sensory toys for children with unique needs is driving the adoption of smart toys deployed with several technologies like IoT, AI, and smart devices, to enhance the learning experience and fun of kids. Additionally, the emergence of mass digitalization and social networks is likely to open new opportunities for the industry gains. In March 2024, Mego, unveiled its revolutionary innovation - the 2XL Cobot, My2XL, an AI Robot for Kids, ushering interactive family entertainment to unparalleled levels of excitement.
The growing parental interest in science, technology, engineering, and mathematics (STEM) educational toys for children is making way for the increasing application of AI owing to digital advancements in toys. The increasing sales of laptops, smartphones, and personal computers (PCs) along with the growing social media presence are driving the kids toys market progression. Toys that promote intellectual development and skills, such as challenging puzzles, fun board games, and complex building block sets, are also boosting the product demand.
Tariffs imposed by various governments on Chinese products are expected to increase prices for consumers, subsequently hampering the market development. Plastic toys are painted with toxic materials that can be harmful to kids, especially toddlers. These health risks are further restraining the market expansion.
Kids Toys Market Trends
Another notable trend driving the industry expansion is the increasing integration of technology into traditional toys, with interactive features, augmented reality, and educational apps. Moreover, there is a growing emphasis on sustainability, leading to the rise of eco-friendly and ethically sourced toys, reflecting heightened consumer environmental consciousness. The surge in online shopping and digital platforms has also transformed the retail landscape, with direct-to-consumer brands and influencer marketing shaping consumer preferences.
Kids Toys Market Analysis
The electronics end-user segment will hold a significant share of the kids toys industry by 2032, driven by the higher consumer spending on video content, virtual reality (VR) items, and video game tournaments. The proliferation of mobile & online gaming, as well as the shift from physical to digital software distribution will further contribute to the segment growth.
Based on gender, the unisex kids toys market is expected to record a lucrative CAGR during 2024-2032. Educational toys suitable for all kids despite gender are gaining popularity in the market. These toys include learning toys, puzzles, tossing games, and puppets. They also help entertain children while improving their cognitive abilities.
Asia Pacific kids toys market is projected to depict a decent growth rate up to 2032. The large regional population is a major factor driving the industry development. According to the UN's World Population Prospects, by 2030, excluding Western Asia, the population of Asia will increase from 4.326 million to 4.654 million. The burgeoning population, particularly the rising middle class with increasing disposable income, is fueling the demand for toys. Additionally, rapid urbanization and changing lifestyles will contribute to higher spending on children leisure activities. The prevalence of digitalization and technology adoption among households is driving the demand for innovative and interactive toys, such as educational robots and augmented reality games.
Kids Toys Market Share
Some major players in the kids toys industry are:
- Takara Tomy Co. Ltd.
- Lego Group Bandai Namco Holdings Inc.
- Simba-Dickie Group.
Leading kids toy providers are focusing on launching new products in the market to benefit consumers. These players are also engaging in mergers & acquisitions as the key strategies to achieve product integration and optimization.
Kids Toys Industry News
- In October 2023, Hasbro, Inc, a top toy and game company, collaborated with ADK Emotions NY, TOMY Company and T-Licensing Inc, to unveil Beyblade X, the next generation of Beyblade products.
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