Toy Market Size – By Product Type, By Capacity, By Price Range, By Usage, By End Use, By Distribution Channel, Forecast, 2025 – 2034

Toy Market Size

The global toy market was estimated at USD 114.4 billion in 2024. The market is expected to grow from USD 120.5 billion in 2025 to USD 203.1 billion in 2034, at a CAGR of 6%.
 

The toy industry is experiencing a notable shift with the increasing engagement of adult consumers, often termed "kidults." This demographic, driven by nostalgia and the desire for stress relief, is investing in toys traditionally marketed to children. In the U.S., adults accounted for approximately 17.3% of toy sales in 2023, equating to USD 6.7 billion, a significant 8% increase from the previous year. This trend is not confined to the U.S.; European markets report that individuals over 18 represent 16% of toy sales, amounting to USD 2.6 billion. The global nature of this movement, particularly strong in Asia, suggests a robust and expanding market segment that toy manufacturers are increasingly targeting.
 

Companies are strategically capitalizing on this trend by developing products that resonate with adult consumers. For instance, brands like Lego and Squishmallows have introduced lines that appeal to adult collectors and enthusiasts, blending nostalgia with contemporary design. This strategic focus not only diversifies their consumer base but also enhances brand loyalty across age groups. The sustained growth in adult toy purchases underscores the importance of this segment as a vital driver in the evolving toy market landscape.
 

The symbiotic relationship between the toy market and popular media franchises continues to be a significant market driver. Collaborations with blockbuster movies, television series, and digital content creators have led to the development of licensed toys that captivate both children and adult collectors. In 2024, sales of licensed toys increased by 8%, comprising 34% of the total market. This surge highlights the enduring appeal of franchises such as Pokémon, Barbie, Marvel Universe, Hot Wheels, and Star Wars, which consistently rank among the top-selling toy properties globally.
 

Toy Market Trends

• The global toy industry is undergoing a transformative phase, influenced by evolving consumer preferences and strategic industry initiatives. A notable trend is the resurgence of classic toys and games, driven by a blend of nostalgia and the desire for tangible play experiences amidst digital proliferation. This shift is evident as traditional toys regain popularity, with consumers increasingly valuing the tactile and interactive nature of these products. Additionally, the integration of popular media franchises into toy lines has become a significant growth driver. Collaborations between toy manufacturers and entertainment companies have led to products that resonate deeply with both children and adult collectors, creating a diversified consumer base and revitalizing interest in physical toys.
   
• In response to these market dynamics, governments are implementing policies to bolster domestic toy production and reduce reliance on imports. For instance, the Indian government has introduced initiatives aimed at enhancing local manufacturing capabilities. These measures include the development of toy production clusters, skill enhancement programs, and the enforcement of quality control standards to ensure the production of safe and high-quality toys. Such policies not only aim to position India as a global hub for toy manufacturing but also seek to stimulate innovation and sustainability within the industry.
   

Toy Market Analysis

• The toy market by product type is segmented into educational toy, construction toy, musical toy, game toy, doll & miniature, automotive toy, pretended play toy, and others.
   
• The educational toy segment generated a revenue of USD 26.3 billion in 2024 and is anticipated to surpass USD 49.6 billion by 2034.
   
• Brands like LEGO, VTech, and LeapFrog lead the charge in integrating advanced technologies such as augmented reality (AR), artificial intelligence (AI), and robotics into educational toys.
   
• These innovations make learning more interactive and engaging for children, fueling a rising demand for toys that seamlessly blend entertainment with educational value.
   

• The toy market by end-use is segmented into individual and commercial.
   
• The commercial segment was the leading segment in this market in 2024 with a revenue of USD 63.9 billion and has a market share of around 56%.
   
• Schools, daycare centers, and various educational institutions are making bulk purchases of educational toys. These toys serve as essential tools for learning and development. The rising demand from these institutions is largely attributed to the heightened emphasis on early childhood education.
   
• Furthermore, educational toys play a pivotal role in bolstering STEM programs, fostering cognitive development, and enhancing social skills training for children in group settings.
   

• The U.S. toy market was valued at around USD 24 billion in 2024 and is anticipated to register a CAGR of 6.1% between 2025 and 2034.
   
• Technological integration is becoming pivotal in the toy industry in the country. U.S. consumers are gravitating towards toys that incorporate features such as augmented reality (AR), virtual reality (VR), and artificial intelligence (AI), seamlessly blending physical play with digital enhancements. This trend captivates not just children but also tech-savvy adults. Furthermore, there's an escalating demand for educational or "edutainment" toys, particularly in the realm of STEM (Science, Technology, Engineering, and Mathematics). These toys emphasize nurturing critical thinking, problem-solving, and creativity, making them highly appealing to both parents and educators.
   

Country-level Analysis

• Europe: Europe held a toy market share of around 21% in 2024 and is expected to grow at a robust CAGR of 5.8% during the forecast period. As Europe's largest economy, Germany boasts a high standard of living and considerable disposable income, driving a strong demand for toys. The market is marked by a diverse and affluent consumer base, resulting in substantial spending on both traditional and innovative toys. German parents place a premium on educational toys that foster development and learning. This emphasis has spurred a heightened demand for STEM toys, gaining traction not just in Germany but throughout Europe. Capitalizing on this trend, German toy manufacturers like HABA and Playmobil are introducing products that seamlessly blend fun with learning.
   
• Asia Pacific: China dominated the Asia Pacific toy market in 2024 acquiring a market revenue of USD 43.9 billion in 2024 and is expected to grow at 6.3% during the forecast period from 2025-2034. China has emerged as a pivotal center for toy sales, catering to both domestic and international markets, largely due to the surge of online shopping platforms like Alibaba, JD.com, and Tmall. E-commerce has enabled Chinese toy companies to tap into a wider audience across the Asia Pacific, propelling market expansion. Echoing global trends, China is witnessing a pronounced emphasis on educational toys, particularly those promoting learning in science, technology, engineering, and mathematics (STEM).
   

Toy Market Share

• The top 5 companies in the toy industry such as The LEGO Group, Mattel, Inc., Hasbro, Inc., Bandai Namco Holdings Inc., Spin Master Corp., hold a market share of 10-15%.
   
• The LEGO Group has intensified its commitment to environmental sustainability by investing in research to develop eco-friendly materials for its iconic bricks. This includes exploring alternatives to traditional plastics, aiming to reduce the company's carbon footprint and promote environmental responsibility.
   
• In 2024, Mattel expanded its Barbie line to include dolls representing individuals with Down syndrome and vision impairments. This initiative reflects Mattel's ongoing efforts to promote inclusivity and allow children to see themselves reflected in their toys.
   
• In August 2023, Hasbro announced the sale of Entertainment One (eOne) to Lionsgate for USD 500 million, a transaction completed in December 2023. This divestment allows Hasbro to refocus on its core toy and game businesses while retaining key family brands.
   
• In October 2023, Spin Master announced an agreement to acquire toy company Melissa & Doug for USD 950 million in cash, a deal completed on January, 2024. This acquisition expands Spin Master's portfolio, particularly in the educational and wooden toy segments.
   

Toy Market Companies

• Tomy has been enhancing its digital presence by developing mobile applications and online content that complement its physical toy lines. This strategy aims to engage tech-savvy children and integrate traditional play with digital experiences.
   
• LeapFrog continues to innovate in the educational toy sector by launching interactive learning devices that incorporate the latest technology to enhance children's educational experiences.
   
• Ravensburger has broadened its portfolio by securing licenses for popular franchises, resulting in puzzles and board games that appeal to a wide audience, including fans of various media properties.
   
• Fisher-Price has introduced a new line of toys designed to support various stages of early childhood development, focusing on motor skills, cognitive abilities, and sensory experiences.
   
• MGA Entertainment has continued to innovate with its popular doll brands by introducing new features, interactive elements, and diverse representations to reflect a broader range of consumer identities.
   

Major players operating in the toy market are:

• Bandai Namco Holdings Inc.
• Fisher-Price
• Hasbro, Inc.
• Jakks Pacific, Inc.
• LeapFrog Enterprises, Inc.
• Mattel, Inc.
• MGA Entertainment, Inc.
• Moose Toys
• Playmobil
• Ravensburger AG
• Schleich GmbH
• Spin Master Corp.
• The LEGO Group
• Tomy Company, Ltd.
• VTech Holdings Ltd.
   

Toy Industry News

• In February 2025, Indian Ministry of Electronics and Information Technology (MeitY) has partnered with the LEGO Group to enhance innovation and technical proficiency within the sector. This collaboration, formalized through a Letter of Intent between the Centre for Development of Advanced Computing (CDAC)-Noida and the LEGO Group, aims to provide comprehensive training to young engineers, particularly from Scheduled Caste, Scheduled Tribe, and North Eastern Region backgrounds.
   
• In February 2025, Wyncor, a prominent innovator in children's entertainment and interactive toys, declared launching its groundbreaking collectible toy line, Miraball, at Walmart stores this March. The product will be priced under USD 10; the product line features popular brands such as Teenage Mutant Ninja Turtles, SpongeBob SquarePants, PAW Patrol, Peppa Pig, My Little Pony, Transformers, Monopoly, and Emoji, in collaboration with major partners like Paramount, Hasbro, and Emoji Company.
   
• In November 2024, LEGO Group launched a new playset inspired by the freshly-released video game, LEGO Horizon Adventures. Comprising 768 pieces, this set allows LEGO fans to dive into the enchanting realm of Horizon, enabling them to construct and reenact memorable moments from the game. Enthusiasts can follow the journeys of Aloy, the main character, alongside her loyal partner Varl, as they undertake exhilarating quests.
   

The toy market research report includes in-depth coverage of the industry, with estimates & forecasts in terms of revenue (USD Billion) and volume (Billion Units) from 2021 to 2034, for the following segments:

Click here to Buy Section of this Report

Market, By Product Type

• Educational Toy
• Construction Toy
• Musical Toy
• Game Toy
• Doll & Miniature
• Automotive Toy
• Pretended Play Toy
• Others (Art and Craft Toys, Musical Instruments etc.)

Market, By Price Range

• Low
• Medium
• High

 Market, By Age Group

• Below 1 Yrs.
• Age 1- 3
• Age 3- 5
• Age 5- 12
• Age 12+

Market, By Material

• Plastic
• Wooden
• Metal
• Fabric
• Biodegradable/Organic Materials

Market, By End Use

• Individual
• Commercial

Market, By Distribution Channel

• Online
  • E-Commerce Website
  • Company Owned Website
• Offline
  • Hypermarket/Supermarket
  • Departmental Stores
  • Specialized Stores
  • Other Retail Stores

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America 
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA