Kids Toys Market Size and Share: 2021 to 2031 Key Findings

The Kids Toys Market size is projected to reach US$ 192.49 billion by 2031 from US$ 129.18 billion in 2023. The market is expected to register a CAGR of 5.1% in 2023–2031. Emerging technologies such as augmented reality, virtual reality, and artificial intelligence are transforming children's play and learning experiences, which has a significant impact on the Kids Toys market.

Growing Awareness about Child Development through Toys

Kids Toys Market Analysis

The growing awareness about child development through toys. Toys increase children's imagination, creativity, and problem-solving skills, which are crucial for cognitive development while enhancing their social and emotional skills through exploration, experimentation, and learning about their environment. Playing with toys helps children develop social skills such as sharing, cooperating, and emotional expression. It also helps to navigate social situations and nurtures lasting friendships by allowing children to express their feelings through play.

Kids Toys Market Overview

Increasing disposable income in many regions allows parents and their families to spend more on toys for their children. Innovations in toys, such as smart toys and augmented reality games, attract tech-savvy parents, other family members, and caretakers. Parents' emphasis on educational toys that promote learning and development among children is a significant driver fuelling the kid's toys market. The rise of e-commerce platforms provides a convenient way for consumers to purchase toys globally. Also, toys based on popular movies such as Spiderman, the Hulk, Barbie, Transformer, and Marvel movies, TV, and game franchises attract a broad customer base. Thus, a rising preference for character-based toys is expected to become a significant trend during the forecast period in the kids toys market.

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Kids Toys Market: Strategic Insights

Kids Toys Market

• Market Size 2023
  US$ 129.18 Billion
• Market Size 2031
  US$ 192.49 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Product Type

• Building Blocks
• Figurines and Dolls
• Soft Toys
• Puzzles and Board Games

Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online Retail

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Kids Toys Market Drivers and Opportunities

Technology Advancement Leading to Innovative Toys

The emergence of interactive and smart toys is a significant development in the toy business. Modern features such as sensors, Bluetooth connectivity, and artificial intelligence are built into these toys, giving kids interactive play experiences. Interactive toys are transforming the way kids play. Examples include voice-activated robotic pets and learning tablets that adjust to a child's learning style.

Rising Focus on Educational and STEM-Based Toys

Increased urbanization and the number of literate parents looking for creative ways to encourage learning in their kids are expected to fuel the global market for STEM toys. Other elements that can encourage the sales of STEM toys in the future include the growing emphasis on education and the rising need for innovative teaching techniques. Students' learning is enhanced by incorporating AR and VR into STEM toys.

Kids Toys Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Kids Toys Market analysis are type, cause, disorder type, category, and end user.

• Based on product type, the market is segmented into building blocks, figurines and dolls, soft toys, puzzles and board games, and others.
• In terms of distribution channels, the market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty store segment dominated the market in 2022

Kids Toys Market Share Analysis by Geography

The geographic scope of the Kids Toys Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

North America has dominated the Kids Toys Market. North America’s toy manufacturing companies adhere to strict standards, producing safe, fun, and useful toys for children. Kids toys providers and parental awareness contribute to North America's dominance, with high awareness of the benefits of the market. Its tech-savvy population, influenced by advanced technologies, is embracing connected toys for interactive play experiences, ensuring North American consumers stay at the forefront of digital technology. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.

Kids Toys Market News and Recent Developments

The Kids Toys Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:

• MRF’s Funskool India Ltd. has rolled out more than 15 new products for this summer from its home-grown brand Giggles, Games, Fundough, Handycrafts and Play & Learn. These entertaining and educational toys include Betty the Butterfly, My First Pony – Ride On, Rummikub, Tateru, Word Build, Nail Design Studio, Little Florist, Foam Vehicles, and Noodle Party, the leading toy maker said in a statement. These toys have been designed keeping in mind the new-age requirements of children – physically and emotionally. The toys will increase the physical abilities, better balance and coordination, and motor skills of the children, apart from encouraging creativity, the company said. “The new range of toys are indigenously developed and manufactured in line with the Atma Nirbhar vision of India. Funskool will continue to play a key part in the development of children through the launch of these new high-quality toys and games,” said CEO R. Jeswant. (Source: Funskool India Ltd, Newsletter, 2023)
• Reliance Retail, which owns British toy brand Hamleys and home-grown toy brand Rowan, has entered into a joint venture with a Haryana-based firm for local manufacturing to meet the growing demand. The company has entered into a joint venture with Sonipat, Haryana-based Circle E Retail to vertically integrate its toy business.

Kids Toys Market Market Report Scope

Kids Toys Market Report Coverage and Deliverables

The “Kids Toys Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles