The global traditional toys and games market size is anticipated to increase at a 4% CAGR between 2021 and 2031. Traditional toys and games will sell for more than US$ 90 billion in 2021, predicts Future Market Insights (FMI).
The demand for traditional toys and games increased as nations implemented lockdowns to stop the COVID-19 pandemic. As supply-chain disruptions remained a worry, some of the biggest traditional toy and game companies focused on online sales channels. In light of this, FMI anticipates that between 2020 and 2021, the market for traditional toys and games will grow by 2% annually.
The market for traditional toys and games is anticipated to expand due to the surge in demand for educational toys and games for toddlers. Toddlers benefit greatly from educational toys because they can help to develop children’s cognitive abilities and decision-making skills.
Traditional toy and game sales will continue to benefit from a growing awareness of the value of educational toys in children’s school curricula over the forecast period.
Additionally, a growing trend among millennials to collect action figures, toys, figurines, puzzles, and theme-based construction game sets is anticipated to boost market expansion. Manufacturers are spending money on licensing and branding with prestigious franchises to introduce such collectibles to profit from this trend.
Key Takeaways:
- Throughout the assessment period, it is anticipated that sales of construction games will continue to increase.
- According to material, traditional plastic toys and games will continue to rule the market.
- For children under the age of three and four, there will likely be an increase in demand for traditional toys and games.
- Online retail is anticipated to represent a sizable portion of the global market for traditional toys and games in terms of sales channels.
- The growing demand for licensed toys and games among millennials is expected to cause the U.S. to dominate the North American toys and games market.
- Due to the rising popularity of technology-enabled toys, the U.K. will continue to have a high demand for traditional toys and games.
- China will emerge as a lucrative traditional toys and games market due to the expansion of e-commerce and the wide availability of products in the country.
- Japan and South Korea are expected to account for 35% and 21% of the total traditional toys and games market share over the forecast period.
Competitive Landscape
Dream International Limited, Hasbro, Inc., Jakks Pacific Inc., Mattel, Inc., Lego A/S, BANDAI NAMCO Holdings Inc., LeapFrog Enterprises, Inc., Spin Master Corp, Tomy Co., Ltd., Playmates Toys Limited, Games Workshop Group PLC, Kids Ii Inc., Madame Alexander Doll Company LLC, Mega Brands Inc., Melissa & Doug Inc., Funskool (India) Limited, Funko LLC, K’NEX Brands, L.P., Ravensburger AG, and MGA Entertainment, Inc. are among the leading players operating in the global traditional toys and games market.