A study recently conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global toys and games market was worth USD 276.1 Billion in 2020.
The key strategy implemented by toy manufacturers to entice children is the commercialization of renowned cartoon characters like Peppa Pig, Doraemon, Superman, Spiderman, etc.
Subscription boxes are easy to use since parents can curate them based on their children's needs.
The growth of the global toys and games market helps in the proliferation of such business models.
The implementation of strict regulations during lockdown across many countries due to the sudden outbreak of the COVID-19 pandemic led to disruptions in import and export activities of toys and games.
Among all the segments, the video games segmentdominates the market.