Toys Market Valued at $206.4 Billion in 2024, Forecasted 8.2% CAGR to 2034: Market Decipher

PUNE, India, July 17, 2024 /PRNewswire/ — Toys Market Report (New Research published by Market Decipher) estimates Toys industry at $206.4 Billion in 2024, and forecasts $453.9 Billion by 2034, growing at 8.2% CAGR during 2024 to 2034. The surge in demand for educational toys that encourage learning in science, technology, engineering, and mathematics (STEM) is driving growth in the toys market. Furthermore, new technologies featured in toys, such as Bluetooth connectivity, artificial intelligence, and music, provide children with an immersive play experience.

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“The toy industry remains heavily influenced by pop culture. Demand for related toys, such as action figures, dolls, and playsets, is fuelled by popular franchises like Disney, Marvel, and Star Wars. There are many toy lines devoted to movies, TV series, and video games that profit on their popularity. Sales of related toys may soar in response to the premiere of a new film or the popularity of a television show.”
– Gauri Garale (Research Head, Market Decipher)

Factors Fuelling Growth of the Market:

E-commerce and online shopping trends accelerate toy market growth owing to availability of various products, affordable prices and ease as compared to the physical stores.Growing awareness of environmental issues drives consumer demand for eco-friendly toys made from sustainable materials such as wood, bamboo, and recycled plastics.

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Key Market Developments

In June 2024, Mattel, Inc. has partnered up with Universal Pictures and Academy Award-winning producer/screenwriter Akiva Goldsman, under his Weed Road banner, to create Monster High, a live-action theatrical film.In June 2024, Spin Master Corp. has completed the acquisition of Melissa & Doug for $950 million.In May 2024, The LEGO Group has launched the latest additions to its LEGO Islands collection, a series of kid and family-friendly LEGO-themed experiences designed by the brand, within Fortnite.In April 2024, Nex and Hasbro are broadening their partnership to introduce a new range of interactive family games exclusively for the acclaimed Nex Playground console.In April 2024, Funskool India, the toy manufacturer, has expanded its Ranipet facility in Tamil Nadu by adding over 160,000 square feet. This addition doubles the plant’s manufacturing capacity, the company announced in a statement.In April 2024, Goliath Games has revealed its acquisition of Lucky Duck Games, renowned for their innovative and award-winning digital hybrid board games like Chronicles of Crime and Destinies.

Toys Market Segment:

By Product Type: 

DollsOutdoor & SportsIndoor SportsAction GamesAction FigurinesActivity KitsConstruction & Building ToysRide on CyclesRide on ScootersPlush ToysInfant and Preschool ToysVehicles and Remote-Controlled ToysMusical ToysArt and CraftsSTEM ToysWater ToysCollectibles Toys

By Age Group: 

0-3 Years3-5 Years5-12 Years12-18 Years18+ Years

By Sales Channels

Online ManufacturersOnline MarketplacesBrand storesSupermarket hypermarketToy storesOthers

Top Companies

The LEGO GroupMattel, Inc.Hasbro, Inc.Playmates Toys LimitedTomy Company, LtdKenner ProductsSpin Master LtdJazwares, LLCVtechFunko Inc

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About Market Decipher

Market Decipher is a market research and consultancy firm involved in provision of market reports to organisations of varied sizes; small, large and medium. At Market Decipher, we concentrate on articulating relevant business policies conditional to the specific market domain for a sustainable growth. The services provided by us include syndicated research and custom research.

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