Are you interested in learning more about the global toy market? This article provides an overview of the size, trends, and opportunities in the toy industry. We'll look at regional analysis, key figures, market drivers, and more. The global toy market is growing at a slow pace, with the Asia-Pacific region leading the way. It is divided into North America, Europe, Asia Pacific, and the rest of the world.
Millennials make up more than half of the kidult market, with young people aged 18 to 34 looking to toys and characters from their childhood as a form of escapism and a reflection of simpler times. Parents are investing in quality toys for their children's educational and fitness purposes. The number of children is expected to increase in the coming years, which will have a positive impact on the growth of the toy market. In addition, parents are buying toys that help with development and learning, as well as online learning.
The sports and outdoor toys segment has the highest market share, but the action figure segment is expected to grow at the highest CAGR during the forecast period. Specialty toy stores and branded stores are also likely to generate segmental offline revenues. The market is driven by innovation in toys, the expansion of retail channels, and an increase in disposable income. However, smartphones are posing a major challenge for stakeholders.
The toy market is also growing due to the expansion of television and movies, as demand for fictional characters among children is increasing. Key drivers include growing awareness of toys' potential to boost children's cognitive and physical development, increasing disposable income, increasing social media influence, and availability of attractive toy products on e-commerce platforms. The global toy market is divided into age groups: Up to 5 years old, 5 to 10 years old, and over 10 years old. Regional markets include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Growing demand for movie and comic character plush toys and collectible action figures is expected to drive market growth.
Outdoor toys and sports are also growing due to increased awareness of their potential to help with motor and coordination skills.