The toys industry have registered a huge shift from traditional plush toys, construction and building toys, dolls, board games and puzzles to now the high-end electronic toys, educational toys, and many others. The craze for the toys in kids have increased considerably over the electronic component embedded toys having their own intelligence which can behave as per the environmental stimuli. These days children have developed using of new smart toys such as Spin Master’s interactive Luvabella baby doll, Hasbro’s Bluetooth-connected Furreal motorized pet, Barbie’s futuristic hologram Barbie, Lego’s app-based coding and many others. Today, there is wide variety of toys, made out of various materials. But, there have been some toys relishing their high popularity across the globe over a quite some time now. In reference to the history of toys manufacturing right from the back to days much before the Mickey Mouses, yo-yos, Legos and Donald Ducks. The archaeological evidences describes, Egyptians and Romans used toys that were made of clay, wood, stone, bone, ivory, leather and wax as were dated back to 100 AD.
According to the study “Doll, Toy, And Game Manufacturing Global Market Report 2019” Some of the key companies operating in the market are Mattel Inc., Lego Group, Hasbro Inc., Takara Tomy Co. Ltd., Bandai Namco Holdings Ltd. and Nerf.
The growth in the doll, toy, and game manufacturing market is primarily driven by the emerging rise in the disposable income, new technology development over the recent years the popularity of interactive and multi-functional toys and games have also been observed new craze among the children, which have positively impacted market. The global doll, toy, and game manufacturing markets segmented based on type and geography. Based on type market is further segmented into electronic toys, and non – electronic toys. The growth of toys market is majorly driven by increase in disposable income among middle-income groups and innovations in technology for developing the interactive toys. Moreover, rise in awareness towards the use of smart toys coupled with availability new and smart toys for indoor & outdoor sports and educational intuition have driven the market growth. However, high cost of toys may impact the market growth.
Based on geography the global doll, toy, and game manufacturing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among this Asia-Pacific doll market accounts to the largest share owing to increase in positive economic outlook, substantial growth of the e-commerce companies, and favorable government regulations. Over the forecast period potential for global doll, toy, and game manufacturing market is expected to rise significantly. Moreover, due to rise in consumer spending, and increase in demand for toys, related to action figures, plush toys, puzzles, sports equipment and pre-school have supported the market growth. The sales of toys and games as per the cartoon characters, TV shows, and movies have now been escalated and further promoting market growth.
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Ankur Gupta, Head Marketing & Communications