The
toys and games market size is poised
to grow by USD 54.72 billion during 2020-2024, progressing at a CAGR of over 8%
throughout the forecast period, according to the latest report by Technavio.
The report offers an up-to-date analysis regarding the current market scenario,
latest trends and drivers, and the overall market environment. The report also
provides the market impact and new opportunities created due to the COVID-19
pandemic. Download a Free
Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The popularity of TV shows and movies is one of the major factors
driving the market growth. Blockbusters such as Frozen, Star Wars, and
Despicable Me have led to an increase in retail sales of various toys, games,
and related merchandise. Several specialty stores also emphasize on product
themes based on popular TV shows such as Game of Thrones, Penny Dreadful,
Breaking Bad, Big Bang Theory, and Friends. For instance, Hot Topic, a US-based
retail store, earns a major part of its revenue from TV-based merchandise and
animation collectibles. Furthermore, popular movies are also most likely to
accelerate the sales of collectibles during the forecast period.
Report Highlights:
- The major toys and games
market growth came from the activity and ride-on toys segment. Activity
toys such as building sets, dolls, puzzles such as jigsaw puzzles, and
card games help children enhance the mental agility of children and
develop coordination and manual skills. Market growth in this segment will
be slower than the growth of the market in the infant and pre-school toys
and plush toys segments.
- APAC had the largest toys
and games market share in 2019, and the region will offer several growth
opportunities to market vendors during the forecast period. will
significantly influence toys and games market growth in this region.
- The global toys and games
market is fragmented. Atlas Games, Clementoni Spa, Goliath Games LLC,
Hasbro Inc., LEGO Group, Mattel Inc., Ravensburger AG, Thames &
Kosmos, TOMY Co. Ltd., and VTech Holdings Ltd. are some of the major
market participants. To help clients improve their market position, this
toy and games market forecast report provides a detailed analysis of the
market leaders.
- As the business impact of
COVID-19 spreads, the toys and games market 2020-2024 is expected to have
Negative and Inferior growth. As the pandemic spreads in some regions and
plateaus in other regions, we re-evaluate the impact on businesses and
update our report forecasts.
Buy 1 Technavio report and get the
second for 50% off. Buy 2 Technavio reports and get the third for free.
View market snapshot before
purchasing
Emergence of 3D Printing will be a Key Market Trend
Latest toys and games market trends, such as the emergence of 3D
printing will also fuel toys and games market growth. 3D printers are expected
to become more affordable in the coming years, and as a result, licensors are
focusing on protecting their products by authorizing do-it-yourself (DIY)
merchandise. Some of the leading licensors like Sesame Workshop and Hasbro are
also offering licenses to 3D printing companies for specific merchandise and
are distinguishing them from the licensed ones.
Technavio’s sample reports are free of charge and contain multiple
sections of the report, such as the market size and forecast, drivers,
challenges, trends, and more. Request a free sample report
No comments:
Post a Comment