Market Size of Traditional Toys and Games Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.10 % |
| Fastest Growing Market | South America |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Traditional Toys and Games Market Analysis
The Global traditional toys and games market is projected to grow at a CAGR of 3.1% during the forecast period, 2022 - 2027.
As an impact of COVID-19, the market witnessed a strong growth among the high-income and middle-income consumers, leading to the launch of numerous stay-at-home product ranges by the leading players. During the pandemic, toys and games sales were primarily driven by the online retail of products. However, due to delays 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 core strategy used by toy manufacturers to attract children is to commercialize favorite movies and cartoon characters such as Spiderman, Ironman, Superman, and Doraemon. Moreover, construction toys are driving the market, as it aids the children in developing their brains and inculcates different learning methods.
Players in traditional toys and games must adapt to the digital era to stay relevant to children. Children are spending more time online, especially on mobile devices, which is expected to restrain the future market studied.
