Traditional Toys and Games Market - Global Trends, and Forecast till 2025
The global traditional toys and games market was valued at US$ 91.54 billion in 2016 and is expected to exhibit a CAGR of 4.84%, in terms of revenue to reach US$ 138.61 billion by 2025. The market includes traditional toys and games products such as outdoor and sports toys, puzzles, educational toys, construction sets and model vehicles among others. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1243 The market has observed a significant boost in sales in the emerging regions of the world. This can be attributed to increasing purchasing power and per capita spend on toys by consumers in China, India, ASEAN, and Brazil. Despite a high per capita spending on toys and games by consumers in North America and Europe, the regions are witnessing slow growth due to growing inclination towards digital gaming. The traditional toys and games market in North America was valued at US$ 28.73 billion in 2016 and is projected to exhibit a CAGR of 4.87% over the forecast period (2017-2025). Thin profit margins in the market, are preventing major players to make large investments in the market. Companies are focused on growing their core competency in their core markets. For example, the LEGO Group is focused on increasing its market share in the construction sets instead of expanding its product portfolio. This has allowed domestic players in emerging economies such as China, India, and ASEAN to capture market share. For instance, in India, Mattel relies on imports from Malaysia and Indonesia to cater to the market in India. The lack of local manufacturing base coupled with brand value has rendered the company’s toys unaffordable to a many consumers in the country. This has supplemented the rise of domestic players such as Funskool which is also a licensed manufacturer for LEGO, Hasbro, Takara Tomy, and LeapFrog. Online sales of toys has increased rapidly over the recent past, in turn, resulting in manufacturers of toys and games to seek partnerships with online stores. For instance, Mattel and Alibaba Group Holdings Ltd have entered into a partnership, which allows Alibaba to sell the former company’s products online.