Baby Toys Industry Analysis Size, Future Growth by Type, Region with Top Companies| Forecast
Baby Toys Market
The global baby toys market is projected to exhibit a CAGR
3.97% during the forecast period of 2021 to 2028.
Market Highlights
The global baby toys market is projected to be valued at
USD 17,194.1 million by 2028, recording a CAGR of 3.97% during the
forecast period. The growth of the baby toys industry analysis is
anticipated to be driven by several factors during the forecast period from
2021 to 2028. One of the key factors is the Increasing per capita disposable
income in developing nations. Rising demand for skill developmental baby toys
is also expected to boost the market's growth during the review period.
However, the prevalence of an unorganized market for baby toys hampers the
market growth. Also, the rising threat of counterfeit products poses a major
challenge for the growth of the market. Nevertheless, Strategic mergers and
acquisitions create scope for market growth. Moreover, the growth of the
organized retail sector in Asia-Pacific is projected to propel market growth in
the coming years.
The COVID-19 pandemic has fundamentally changed the buying
behavior of consumers. They are deeply concerned about the impact of COVID-19,
both from a health and economic perspective. It has been noticed that consumers
are shifting their budget towards essential goods such as masks, sanitizers,
and household goods. Their priorities are now centered towards most basic
needs, creating a huge demand for hygiene and staple products, while
non-essential categories slumped. Furthermore, with the slow-moving economy,
people are adapting to the new normal. Digital commerce has witnessed a spike
as new consumers move toward online channels, which is anticipated to continue
long-term.
Key Players
Market Research Future has recognized LEGO System
A/S(Denmark), Mattel, Inc. (US), Hasbro, Inc. (US), Bandai Namco Holdings Inc.
(Japan), Spin Master (Canada), Kids II, Inc. (US), Nintendo Co., Ltd. (Japan),
Brandstätter Group (Germany), Tomy Company, Ltd (Japan), and Basic Fun! (US) as
the key players in the global baby toys market.
Access full report @ https://www.marketresearchfuture.com/reports/baby-toys-market-1559
Segmental Analysis
The global baby toys industry analysis
based on product type, end user, distribution channel, and region.
By product type baby toys market size has been
divided into board games, soft toys & dolls, action toys, arts &
craft toys, construction toys, vehicles, musical toys & rattles, and
others. The soft toys & dolls segment accounted for the largest market
share in 2020, where as the construction toys segment is expected to
record the highest CAGR of 4.17% during the forecast period. Construction
toys are very popular with generations of children. The primary principle of
construction toys is assembly. A sequence of basic components is provided in
construction toys. They are designed to allow children to create objects of
their own design that can be taken apart again and rebuilt as something
different. Construction toys are powerful and creative toys. Children follow
instructions for building their toys, which encourages children's physical,
social and cognitive development
Based on end user, the global baby toys market segment has
been classified as infants and toddlers. The toddlers segment accounted for
the largest market share in 2020 as well as expected to register the fastest
growth rate during the years to come. Toddlers rapidly learn languages and
develop a sense of danger. Toddlers usually participate in several physical
testing activities such as jumping from heights, climbing, hanging by their
arms, rolling, and rough-and-tumble play. This age group develops good control
of their hands and fingers and likes to do things with small objects. Solving
puzzles, building blocks, role play, and drawing are a few of the popular activities
among toddlers.
Based on distribution channel, the global baby toys
market segment has been classified as store-based and non-store-based. The
store-based sub-segment is further bifurcated as supermarkets &
hypermarkets, specialty stores, and others. The non-store-based segment is
projected to exhibit the higher CAGR during the forecast period. Companies
are launching new products with improved quality and unique features and
designs, which cannot always be made available to consumers in different regions.
Due to this, the online platforms are gaining immense traction worldwide.
Regional Analysis
Geographically, the global baby toys market has
been categorized as North America, Europe, Asia-Pacific, and the rest of the
world. As per MRFR analysis, North America constituted a dominant share of
the baby toys market size in 2020. key manufacturers emphasize promotional
activities on social media to boost the sales of baby toys among children and
the young population in the region. Europe occupies a decent market share in
the global market scenario due to a high inclination for better quality games
followed by high investments in R&D by market players. Also, the market in
Asia-Pacific offers lucrative opportunities for manufacturers of baby toys
owing to the rapid growth of the organized retail sector in the region. The
production of baby toys is exceptionally high in China, with Japan being a
major exporter of baby toys. The Rest of the World baby toys market is
projected to register a decent CAGR of 3.95% during the forecast period.
One of the important factors for the rising growth of baby toys in the region
is the rise in the popularity of educational baby toys among children.
Increasing disposable income among consumers is expected to boost the growth of
the rest of the world's baby toys market during the assessment period.
Key Findings of the Study:
- The
global baby toys market is projected to register a growth rate of 3.97%
from 2021 to 2028.
- The
soft toys & dolls segment is estimated to retain its prominent share
till 2028 where as, the construction toys segment is projected to record
the highest CAGR of 4.17% during the forecast period.
- The
toddlers baby toys market segment accounted for the largest market share
in 2020 and is expected to grow at the fastest rate of 4.00% during the
forecast period.
- The
store-based segment is estimated to retain its dominant share till 2028,
where as the non-store-based segment is estimated to register a higher
growth rate during the forecast period.
NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and
Media Private Limited),
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