Allied Market Research recently published a report, titled, "Learning and Educational Toys Market by Product Type (Building Sets, Games & Puzzles, Sports & Outdoor Toys, and Others), Age Group (5 years, 5 to 10 years, and above 10 years), and Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Departmental Stores, Online Channels, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global learning and educational toys industry generated $49.97 billion in 2020, and is estimated to reach $81.29 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
Major determinants of the market growth
Rise in demand from children and young population, reduction of carbon footprint and surge in environment-friendly initiatives, and advent of games in bars and cafes have boosted the growth of the global learning and educational toys market. However, tariff duties, growth in digitalization, and widespread penetration of smartphones hinder the market growth. On the contrary, untapped potential in developing markets and rapid growth of online retail platformsare expected to open new opportunities for the market players in the future.
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Major market players
Atlas Games
Goliath Games
Clementoni S.p.A.
The LEGO Group, Hasbro, Inc.
Ravensburger AG
ZEPHYR TOYMAKERS PVT. LTD.
Vtech Holdings
Tomy Company, Ltd.
Thames & Kosmos
The increase in number of games bars, cafes, and family entertainment centers worldwide is boosting the demand for toys and games. These family entertainment centers, game bars, and cafes are witnessing high traction and gained remarkable popularity across the world in the course of recent years. The quick expansion of games in cafes is encouraging children as well as adults to learn new games along with connecting each other for meaningful social interactions. In the U.S., over 5,000 board games cafes were inaugurated in 2016. Furthermore, there were over 700 gaming cafes in China and in 2017, an addition of about 60 gaming cafes were opened in Beijing alone. The increase in number of these cafes and entertainment centers that cater to both kids and adults helps generate high revenues for the players operating in the global learning and educational toys market.
Engaged players in the industry are striving to make more environment-conscious decisions about their product portfolio, especially in terms of toys packaging. The players are focusing on minimalistic usage of plastic in their products. A plethora of initiatives have been launched in the past few years ranging from adopting recycled packaging materials and minimal packaging to adopting bio-based plastics instead of their petroleum counterpart. For instance, MGA Entertainment introduced a new biodegradable ball as a new product offering in its L.O.L Surprise! Doll line. Furthermore, it also introduced a new product line from Little Tikes using blend of recycled resins as raw material. Another company, Safari Ltd. is offering BioBuddi line of toy blocks, much like Mega Bloks and Lego, which uses sugarcane in the production and manufacturing of toys. Such practices adopted by the players pave the way for more sustainable and environment-friendly products in the future.
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The learning and educational toys market is segmented into product type, age group, sales channel, and region. By product type, the global market is classified into action figures, building sets, dolls, games and puzzles, sports & outdoor toys, plush, and others. By age group, it is studied across upto 5 years, 5 to 10 years, and above 10 years. By sales channel, the market is divided into hypermarket/supermarket, specialty stores, departmental stores, online channels, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key findings of the study
By region, Asia-Pacific is anticipated to grow at a robust CAGR of 7.1% during the forecast period.
By product type, the sports and outdoor toys segment led in terms of market share in 2020, and is expected to gain market share in the coming years.
By age group, the 5 to 10 years segment accounted for maximum market share of the learning and educational toys market in 2020, and is poised to grow at the highest CAGR during the forecast period.
By sales channel, the online channels segment is expected to gain market share in the coming years, and is estimated to grow at a CAGR of 6.5% during the forecast period.
Asia-Pacific, followed by North America, held the largest share
By region, the global learning and educational toys market across Asia-Pacific, followed by North America, held the largest share in 2020, accounting for more than one-third of the market. In addition, the region is projected to portray the highest CAGR of 7.1% during the forecast period, owing to large rural population, rise in urbanization, women participation in the workforce, and increase in disposable income.
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