Toys & Games Market Will Grow USD 139.2 Billion by 2025: Grand View Research, Inc.
15-Nov-2019: The global toys and games
market size is expected to reach USD 139.2 billion by
2025, according to a new report by Grand View Research, Inc., expanding at a
CAGR of 4.6% over the forecast period. Rising number of online gaming
tournaments across the globe is the key factor for the market growth over the
forecast period. Over the past few years, increasing demand for in-licensing
activities is booting the growth of market.
Growing demand for
eco-friendly toys is also anticipated to increase the demand for the product in
the upcoming years. Cardboard, organic cotton, and wood are the popular raw
materials for the production of eco-friendly products. For instance, Green Toys
are made from the recycled plastic milk bottles. The company has collaborated
with Walmart, one of the largest retail chains of the world, for the
distribution of the products.
Increasing
participants of e-sports has also been a factor driving the market. For
instance, in September 2018, Sony has launchedPlayStation Classic, an updated
version of original Play station that comes with 20 preloaded games. This is
expected to expand the consumer base of the market. Furthermore, innovative
games such as PUBG and FIFA are gaining significant popularity among the adult
players.
Asia Pacific is expected
to witness expand at a CAGR of 5.1% from 2019 to 2025. Rapid expansion of
ecommerce, along with increasing brand retail outlets, has been fueling the
sales of the product in this region. North America held the largest market
share in 2018, followed by Europe.
In
depth research report on Toys & Games Market
Further key findings from the study suggest:
·
By product, video games are anticipated to ascend at a CAGR
of 5.8% over the forecast period. The outdoor/sports segment was valued at USD
17.80 billion in 2018 and is projected to exhibit high growth in the next few
years
·
North America held significant share of global toys and games
market in 2018 and accounted for 14.0% share of the global revenue
·
Major players of the industry include Lego; Mattel Inc.;
Namco Bandai; Hasbro; and Jakks Pacific
·
Various manufacturers are concentrating on new product
launches, capacity expansion, and technological innovation to estimate existing
and future demand patterns from upcoming product segments.
Grand View Research
has segmented the global toys and games market by product, application,
distribution channel, and region:
Toys & Games Product Outlook (Revenue, USD Billion, 2015
- 2025)
·
Puzzles
·
Preschool Toys
·
Outdoor/Sports
·
Dolls
·
Video Games
·
Others
Toys & Games Application Outlook (Revenue, USD Billion,
2015 - 2025)
·
0 - 8 Years
·
8 - 15 Years
·
15 Years & Above
Toys & Games Distribution Channel Outlook (Revenue, USD
Billion, 2015 - 2025)
·
Offline
·
Online
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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