Digitalization is a Step Towards Modernization in the Toys Industry - Arizton

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20 Sep, 2021, 13:00 GMT

CHICAGO, Sept. 20, 2021 /PRNewswire/ -- The trend of digitalization is transforming the toys industry as Gen Z population enjoys being associated with technology and computers, and analog gaming such as board games which is been recognized as a mainstream segment in the gaming industry. Indonesia is emerging as a significant country in APAC with caliber to provide several opportunities for toy market vendors in the region. Arizton's research reports on the toys industry offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market insights. Sainsbury's, Best Buy, Target, Kmart, Carrefour, Lowe's, Sears, Metro, Tesco, Groupe Auchan, and Walmart account for a significant percentage of toys and games sales in the US and European countries. Observing these rapid and drastic changes in demand and supply patterns encouraged the industry analysts at Arizton to publish exhaustive and data-driven insights on these recent trends in the consumer goods & retail tech industry.

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1. Toys Market - Global Outlook and Forecast 2020-2025

The global toys market was valued at USD 100.76 billion in 2019 and is expected to reach USD 131.16 billion by 2025. Educational toys and STEM toys are gaining high traction in the global toys market. Online retailing is expected to grow as the fastest distribution channel in the toy industry. The toy market is increasingly making use of cardboard packaging in the games segment. With a wide presence of large retailers building mobile applications, which will cater to the pool of consumers that have an active presence on mobile platforms, thereby increasing the sale of their toys. The APAC board games market is among the fastest-growing segments in the global board games market. APAC was estimated to be the largest market in 2019 with a market contribution of 31.65%. North America was the second largest toys market after APAC, while the US toys industry witnessed a hike of 22% during the April 2020, outdoor and sports toys contributed 54% of the overall growth in the North America region.

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2. Educational Toys Market - Global Outlook and Forecast 2021-2026

The global educational toys market is expected to reach USD 31.62 billion by 2026. The market is witnessing an increase in the influence of digital consumerism on the sale of educational toys. The academic segment in the educational toys market accounted for the largest revenue of USD 7.26 billion in 2020 and is expected to reach USD 10.98 billion by 2026. Many new vendors, such as Green Toys, Envirotoy, and others have launched their sustainable educational toys. An important area of focus for vendors catering to the educational toys market is to leverage the global retail trend. In the coming years, an increasing number of children will have access to smart devices. With recent advances in the field of mobile data by telecom majors is expected to fuel the demand for educational toys across the globe. Educational toys are designed for toddlers which are more differentiated from toys in the baby segment as they focus more on motor skill development and educational opportunities.

North America is leading in the global educational toys market owing to the increasing focus of parents on educational play concept which helps children to learn faster. The population in this region are early adopters of any new technology that is introduced in the market. In 2020, the educational toys market in North America was valued at USD 6.25 billion.

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3. STEM Toys Market - Global Outlook and Forecast 2020-2025

The global STEM toys market will grow at a CAGR of 6.85% during 2021-2026. The online retailing is expected to be the fastest growing channel for STEM toys market which is expected to generate a revenue of USD 3.98 billion by 2025. Parents are also increasingly aware of the benefits that STEM toys can offer to children with respect to skill and overall brain development. Open ended toys are highly preferred in recent times to enhance the level of imagination and creativity. STEM toys, which are basically educational toys are considered as the future of the toy industry where the toy vendors are more concerned to venture during the forecast period. With the introduction of toy subscription models in Amazon the demand for these types of toys will increase in the global market. For instance, such as STEM club toys subscription for 8-13-year-old has driven the growth of online retail in the recent years. Tapping the huge opportunity lying in the sustainability factor can be a gamechanger in the STEM toys industry. The future of STEM toys is expected to be highly focused on the robotic segment with significant product launches in the upcoming years.

The consumption of STEM toys in the APAC region is on the rise owing to the enormous population and increasing disposable incomes. Ravensburger, Spin Master, Learning Resources, Sphero, and Melissa & Doug, among others are some of the key vendors in the STEM toys market. STEM toys market will offer huge opportunities for the vendors to capitalize in the upcoming years. The key markets for vendors are North America, APAC, and Europe. However, in the coming years, the markets in Latin America and the Middle East and Africa are also expected to witness considerable growth in the STEM toys market.

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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