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Baby Toys Market Overview:
Global Baby Toys Market Sizewas valued at USD 15.4Billion in 2022. The Baby Toys market industry is projected to grow from USD15.6Billion in 2023 to USD 21.3Billionby 2032,exhibiting a compound annual growth rate (CAGR) of 4.10% during the forecast period (2023 - 2032). Growing consumer demand for baby toys that teach skills, rising disposable income per person in developing nations, and expanding internet use, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Baby Toys Market Trends
Increasing Per Capita Disposable Income in Developing Nations is driving the market growth
One of the main factors is the increased per capita disposable income in developing nations. Rising demand for newborn toys that encourage skill development is also predicted to support the market's growth during the evaluation period. However, the existence of an unorganized infant toy sector restricts the market's growth. Another key barrier to the market's growth is the rising threat of counterfeit goods. Strategic mergers and acquisitions, however, provide up fresh possibilities for market expansion. The expansion of the organized retail sector in the Asia-Pacific region is also projected to fuel market growth in the ensuing years.
Due to the rise in the number of working women, particularly in developing countries like India, baby care products are one of the businesses in India that is expanding at the fastest rate. The demand for baby products has expanded significantly as a result of the population's growing ability to afford such high-end goods that ensure better newborn health.
Additionally, baby toy products are becoming more readily available online, and rising internet usage is driving the expansion of the global market. The growing usage of smartphones, easy access to internet connectivity, and an increase in e-banking systems are some of the factors propelling the growth of the baby toys market on the online platform. People like online shopping over travelling to physical stores since it is more convenient and gives several discounts and offers all at once in addition to immediate delivery to their doorsteps. This is due to their busy schedules. The use of mobile wallets is anticipated to increase in the future years. A variety of infant toys are available from online merchants like Amazon, Flipkart, and others. People most frequently shop for toys online since it saves them time and gives them access to better deals. The market for baby toys is growing as a result. Thus, driving the Baby Toys market revenue.
Baby Toys MarketSegment Insights:
Baby ToysProduct Type Insights
The global Baby Toys market segmentation,based on type includesBoard Games, Soft Toys & Dolls, Action Toys, Arts & Craft Toys, Construction Toys, Vehicles, Musical Toys & Rattles, Other. The Soft Toys & Dollssegment dominated the market, accounting for 35% of market revenue. One of the oldest and most well-liked toy categories is the doll, which has recently benefited from technological advancements like electronic dolls that can speak and walk. The most comfortable toys that kids are drawn to are dolls and soft toys.
Baby ToysEnd User Insights
The global Baby Toys market segmentation,based on distribution channel, includesInfants, Toddlers. The Toddlerscategory generated the most income. Children that are 13 to 48 months old are considered toddlers. Toddlers love dolls, play cars, pretend kitchenware, playhouse accessories, art and craft supplies, building blocks, cuddly animals, and musical toys.
Baby ToysDistribution ChannelInsights
The global Baby Toys market segmentation, based on distribution channel, includes Store-Based (Supermarkets & Hypermarkets, Specialty Stores, Others), Non-Store-Based. The store-based category generated the most income. Since it is simple for youngsters to physically purchase the toys of their choice, the store-based segment is growing. Fast product delivery through offline locations is also promoting segment growth because it is convenient.
Figure1:Global Baby Toys Market, by Distribution channel,2022&2032(USD Billion)
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Baby ToysRegional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study.The North America Baby Toys Market dominated this market in 2022 (45.80%), because of the growing demand for toys among children and the younger generation. A few local manufacturers are also focusing on creating novel toys, which is anticipated to drive the North American infant toys market forward over the course of the anticipated year.Further, In the North American area, the U.S. Baby Toys market had the biggest market share, while the Canada Baby Toys market had the quickest rate of expansion.
Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2:GLOBAL BABY TOYSMARKET SHARE BY REGION 2022 (USD Billion)
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
EuropeBaby Toys market accounts for the second-largest market share.The increased preference of customers for higher-quality games and toys is predicted to lead to a growth in the market for newborn toys in Europe. The high per capita disposable income in Europe and the rising popularity of baby toys among consumers would both contribute to the market's expansion throughout the expected timeframe.Further, In the European region, the German Baby Toys market had the biggest market share, and the U.K. Baby Toys market had the quickest rate of growth.
The Asia-Pacific Baby Toys Market is expected to grow at the fastest CAGR from 2023 to 2032.The need for baby toys that aid in the development of children's skills in the region has also increased, which is projected to drive the Asia-Pacific baby toys market ahead over the course of the forecast year.Moreover, In the Asia-Pacific region, the Indian Baby Toys market had the quickest rate of growth while China's Baby Toys market had the greatest market share.
Baby ToysKey Market Players& Competitive Insights
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Baby Toys market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Baby Toys sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Baby Toys industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Baby Toys sector.Major players in the Baby Toys market, including LEGO System A/S(Denmark), Mattel Inc.(U.S.), Hasbro Inc.(U.S.), Bandai Namco Holdings Inc.(Japan), Spin Master (Canada), Kids II Inc. (U.S.), Nintendo Co. Ltd. (Japan), Brandstätter Group(Germany), Tomy Company Ltd(Japan), Basic Fun! (U.S.).
Lego AS (Lego), a branch of Kirkbi A/S, designs, develops, manufactures, and markets games and toys. The business sells toys for kids between the ages of 1.5 and 18. It produces products that foster children's creative expression, idea generation, and imaginative play. In order to better understand how children develop, Lego's research and development department seeks to develop new technologies that will help anthropological study, trend spotting, learning via play, and partnerships with educational institutions. It makes an investment in examining cutting-edge play forms and developing traditional play themes. In terms of a percentage of sales, the company spent DKK1,016 million, or 1.8%, on R&D in FY2021.
Mattel Inc. (Mattel) creates, produces, markets, and sells toys and household goods. The company's product portfolio includes fashion dolls and accessories, playsets and vehicles, educational and other games, puzzles, media-focused things, and toys relating to fashion. Mattel employs a variety of brand names to promote its products, including Barbie, American Girl, Monster High, Polly Pocket, Fisher-Price, Thomas & Friends, Hot Wheels, Power Wheels, MEGA, and UNO. The corporation has a commercial presence throughout the Americas, the Middle East, Europe, Africa, and Asia-Pacific. The Mattel corporate headquarters are located in the US city of EI Segundo. In April 2023, Company and Gap announced a new clothing collaboration to launch the Gap x Barbie Collection.
Key Companies in the Baby Toysmarket include
· LEGO System A/S(Denmark)
· Mattel Inc.(U.S.)
· Hasbro Inc.(U.S.)
· Bandai Namco Holdings Inc.(Japan)
· Spin Master (Canada)
· Kids II Inc. (U.S.)
· Nintendo Co. Ltd. (Japan)
· Brandstätter Group(Germany)
· Tomy Company Ltd(Japan)
· Basic Fun! (U.S.)
Baby ToysIndustry Developments
July 2022:Recently, Mattel, Inc. revealed that it had established a multi-year agreement with SpaceX in order to create and market products that inspire children and collectors to embrace their inner explorers of space. In 2023, Mattel will start releasing toys with SpaceX-inspired designs under its well-known Matchbox brand. Parallel to this, space-themed collectibles will start to appear on Mattel Creations, the company's platform for collaboration and direct sales to customers.
March 2021:A new contract for Basic Fun!'s K'NEX subsidiary and related brands has been announced by Kroeger Inc.
Baby Toys Market Segmentation:
Baby ToysProduct Type Outlook
· Board Games
· Soft Toys & Dolls
· Action Toys
· Arts & Craft Toys
· Construction Toys
· Vehicles
· Musical Toys & Rattles
· Other
Baby ToysEnd UserOutlook
· Infants
· Toddlers
Baby ToysDistribution Channel Outlook
· Store-Based
o Supermarkets & Hypermarkets
o Specialty Stores
o Others
· Non-Store-Based
Baby ToysRegional Outlook
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 15.4 Billion |
|
Market Size 2023 |
USD 15.6 Billion |
|
Market Size 2032 |
USD 21.3 Billion |
|
Compound Annual Growth Rate (CAGR) |
4.10% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product Type, End User, Distribution Channel, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
LEGO System A/S(Denmark), Mattel Inc.(U.S.), Hasbro Inc.(U.S.), Bandai Namco Holdings Inc.(Japan), Spin Master (Canada), Kids II Inc. (U.S.), Nintendo Co. Ltd. (Japan), Brandstätter Group(Germany), Tomy Company Ltd(Japan), Basic Fun! (U.S.) |
|
Key Market Opportunities |
Rising internet penetration |
|
Key Market Dynamics |
Rising demand for skill-developmental baby toys Rising per capita disposable income in developing countries |
The global Baby Toys market size was valued at USD 15.4 Billion in 2022.
The global market is projected to grow at a CAGR of 4.10% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market areLEGO System A/S(Denmark), Mattel Inc.(U.S.), Hasbro Inc.(U.S.), Bandai Namco Holdings Inc.(Japan), Spin Master (Canada), Kids II Inc. (U.S.), Nintendo Co. Ltd. (Japan), Brandstätter Group(Germany), Tomy Company Ltd(Japan), Basic Fun! (U.S.)
The Soft Toys & Dolls category dominated the market in 2022.
The store based had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65299
Published on :
Sep 2023
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