(I-BusinessNews.Com, March 06, 2019 ) As per the recent report published by Fact.MR, the global pre-school games and toys market is set to witness a healthy CAGR of 6.4% during the forecast period (2017-2022). Demand for activity toys and games such as board games, musical instruments, construction toys, puzzles, arts and crafts and play-acting has grown healthily in recent years. This is because these products offer more than just entertainment and enjoyment, they play an important part in developing intelligence, coordination and manual ability in children. This, in turn, is driving the popularity of such toys and pre-school games worldwide.
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Moreover, sales of toys and pre-schools games are also picking up in the emerging markets such as Brazil, India and China. Fact.MR’s report projects that towards the end of 2022, the market will surpass a valuation of US$ 11,000 Mn. This growth is likely to be supported by factors such as boom in online sales, rising per capita income and rising standard of leaving.
While demand for toys in developed regions remain steady, sales continue to soar in emerging economies. Online portals has emerged as major sales channel for toys and pre-schools games. Moreover, e-retail stores have cost benefits and allow a faster market penetration. Retail websites offer digital exposure to brads, which is of extreme significance to modern businesses. Factors as such are not only allowing manufacture to sale volumes but also achieve economies of scale. Concurrently, introduction of innovative toys that incorporated with modern technology has been successfully in attracting a wider pool of consumers. Manufacturers are also concentrating on improving the quality of their products in order to drive sales and increase brand loyalty. Today, top-quality raw materials are used in manufacturing of toys. Global sales will continue to grow at a steady pace over the next couple of years.
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Among regions, the market in Asia Pacific excluding Japan (APEJ) will continue to hold its top spot over 2022. APEJ pre-school games and toys market is projected to witness a CAGR of 7% over the forecast period.
On the basis of product type, the construction toys segment will remain highly lucrative throughout the assessment period. This segment currently command for nearly one-fourth share of the global market in terms of revenue. In addition, the segment is expected surpass a valuation of US$ 3,000 Mn by 2022-end.
Based on age group, the 2-3 years segment is anticipated to retain its dominant position over the next couple of years. Currently, the segment commands for more than 37% revenue share of the market. Meanwhile, the upto 4.5 segment likely to hold it second spot over 2022.
By material, the plastic segment is expected increase at a relatively faster rate. This is attributed to the fact the toys that are made of plastic are much more convenient to handle and consumer-friendly. The plastic segment is anticipated to reach a market valuation in excess of US$ 4,000 Mn by the end of 2027.
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Leading market players profiled in Fact.MR’s report include BANDAI NAMCO Holdings Inc., Mattel, Inc., Hasbro, Inc., SIMBA-DICKIE-GROUP GmbH, Alpha Group, Playgo Toys Manufacturing Limited, LEGO A/S, TOMY Company, Ltd., Spin Master Ltd., and Ravensburger AG.
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