Toys and Games Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Toys and Games Market is segmented by Product Type (Games and Puzzles, Video Games, Construction Toys, Dolls and Accessories, Outdoor and Sports Toys, and Other Product Types), Distribution Channel (Online and Offline Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Market Snapshot

Global Toys and Games Market Size
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 9.91 %
Toys and Games Market Major Players

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Market Overview

The toys and games market was valued at USD 261.65 billion, and it is projected to register a CAGR of 9.91% during the forecast period (2021- 2026).

As an impact of COVID-19, the market witnessed a strong growth among the high-income groups as well as middle-income consumers, leading to the launch of numerous stay-at-home product ranges by the leading players. During the pandemic, the sales of toys and games were primarily driven by the online retail of products. However, due to delay in much-anticipated movie releases like “Trolls World Tour” and “Top Gun: Maverick”, the toys, collectibles, and other merchandise based on the character of these movies that already reached the retailer stores observed no or minimal sales. Thus, it negatively impacted the market growth over the medium term.

The toys and games market witnessed significant growth, owing to the presence of high-income group consumers in the country. However, middle-range toys and games accounted for the highest sales in the country. Outdoor and sports toys contributed the major share to the market studied, followed by dolls. Consumer inclination towards movies and cartoons drives the sales of action figures and accessories. The launch of new movies or cartoons further boosts the sales of action figures and accessories, making it the fastest-growing segment.

Therefore, the companies have initiated to add more space to carry more toys, especially in the holiday season, including Christmas, when the sales of toys and games fiercely increase.

Scope of the Report

Toys and games are the tools of play, which hold an important part in social life. These are mainly intended for use by children, though it has also been marketed to adults under certain circumstances. The market studied is segmented by product type, distribution channel, and geography. Based on product type, the market is segmented into games and puzzles, infant and pre-school toys, construction toys, dolls and accessories, outdoor and sports toys, and other product types. Based on the distribution channel, the market is segmented into offline channels and online channels. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD billion).

By Product Type
Games and Puzzles
Video Games
Construction Toys
Dolls and Accessories
Outdoor and Sports Toys
Other Product Types
By Distribution Channel
Online Channel
Offline Channel
By Geography
North America
United States
Rest of North America
United Kingdom
Rest of Europe
Rest of Asia-Pacific
South America
Rest of South America
Middle-East and Africa
South Africa
Saudi Arabia
Rest of Middle-East and Africa

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Key Market Trends

Influence of Technology is Promoting Video Games

Globally, the video game industry has developed a recurring revenue model over the past few years due to continuous video game engagement. As technology is expanding, consumer spending on video content, virtual reality products, and video game tournaments has witnessed significant growth. The market is observing exponential growth due to factors, such as the expansion of mobile and online gaming and the shift from physical to digital distribution of software.

Furthermore, the factors governing the success of the market are local leagues and the franchising approach, the arrival of new game formats and competition, the approval of content rights sales, team profitability, and the impact of industry convergence involving traditional media, entertainment, telecom, and sports companies.

Toys and Games Market Share

Asia-Pacific is the Fastest Growing Market

The major factor driving the prosperity of the Asia-Pacific toys and games market is the rising preference for educational toys beyond the core skills. These toys have been witnessing high demand. For instance, among the pre-school toys, Code-A-Pillar from Fisher-Price, a developmental toy launched in 2016 in China, allows children to do domestic computer programming and problems. Furthermore, an industry report from the China Toy and Juvenile Products Association (CTJPA) shows that China's toy market’s volume witnessed a growth of 7.8%. According to the association's survey of over 13,000 consumers, more of them are planning to reduce their spending on toys and juvenile products in 2020. This may also impact the growth of the toys and games market in the Asia-Pacific region, specifically in China.

Toys and Games Market Analysis

Competitive Landscape

The toys and games market is highly competitive, and it is dominated by Mattel Inc., Hasbro Inc., LEGO Group, and Spin Master Ltd, among others. The key players operating in the market are focusing on introducing new products in the market to cater to the interests of the consumers. New product development is the most preferred strategy in the toys and games market.

Moreover, these players are embarking on mergers and acquisitions as one of their key strategies to achieve consolidation and optimize their offerings. Additionally, these players merging with local players to gain dominance in the local markets is among the most effective strategies in the market studied.

Recent Developments

  • In November 2020, after observing significant demand for toys and games in the Indian market, Amazon set up a dedicated store named 'Made in India Toys and Games', for small businesses selling Indian toys. Accordingly, the online retailer supported the local players by offering better discovery and sale of locally manufactured and designed toys.
  • In October 2020, a French leader in the fabrication as well as retail of educational toys and games, the Juratoys group, acquired the Belgian brand Lilliputiens, which specializes in activity toys for children 0-6 years old. The creativity, innovation, and personal development of children offered by Lilliputiens through its toys will provide an upper edge to the Juratoys group.
  • In March 2020, Hasbro Inc. introduced 'Bring Home the Fun', a global initiative created by the company during the pandemic for parents to explore family-focused resources, including tips for family playtime, activity challenges to keep kids occupied, ideas for using games, and toys to stimulate kids’ brains, and suggestions on how to cope with increased emotional stress. Thereby, this is supporting the sales of toys and games during the pandemic.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study



    1. 3.1 Market Overview


    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Product Type

      1. 5.1.1 Games and Puzzles

      2. 5.1.2 Video Games

      3. 5.1.3 Construction Toys

      4. 5.1.4 Dolls and Accessories

      5. 5.1.5 Outdoor and Sports Toys

      6. 5.1.6 Other Product Types

    2. 5.2 By Distribution Channel

      1. 5.2.1 Online Channel

      2. 5.2.2 Offline Channel

    3. 5.3 By Geography

      1. 5.3.1 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      2. 5.3.2 Europe

        1. Spain

        2. United Kingdom

        3. Germany

        4. France

        5. Italy

        6. Russia

        7. Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Australia

        5. Rest of Asia-Pacific

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. South Africa

        2. Saudi Arabia

        3. Rest of Middle-East and Africa


    1. 6.1 Most Active Companies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Mattel Inc.

      2. 6.3.2 Hasbro Inc.

      3. 6.3.3 Lego Group

      4. 6.3.4 Takara Tomy Co. Ltd

      5. 6.3.5 Bandai Namco Holdings Inc.

      6. 6.3.6 Simba-Dickie Group

      7. 6.3.7 Spin Master Ltd

      8. 6.3.8 AOSHIMA BUNKA KYOZAI Co. Ltd

      9. 6.3.9 Moose Enterprise Holdings Pty Ltd

      10. 6.3.10 Tru Kids Inc.

    4. *List Not Exhaustive


**Subject to Availability

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Frequently Asked Questions

The Toys and Games Market market is studied from 2016 - 2026.

The Toys and Games Market is growing at a CAGR of 9.91% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Mattel Inc., Lego Group, Hasbro Inc., Takara Tomy Co. Ltd, Spin Master Ltd. are the major companies operating in Toys and Games Market.

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