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China's Toy Market Projected to Reach USD 58.36 Billion by Year 2033, Fuelled by Growing Demand and Innovation - New Study by SPER Research
Category: Consumer Retl
Published: November 2023
Author: SPER Analyst
Table of Contents
RESEARCH
The global China toys market is forecasted to reach USD 58.36 billion by 2033, growing at a CAGR of 10.83.
Toys are educational tools that foster children's learning and development through play, offering variety in size, color, and material from plastic, fabric, clay, metal, and wood. These toys include exercise devices, brn-trning gadgets, promotional items, and collectibles. They d cognitive growth by enhancing spatial reasoning skills and logical thinking abilities. The toy sector offers diverse forms such as construction sets, educational kits, cards, board games, rattles, and puzzles.
China's Toys Market Driving Factors Challenges
The growing demand for colorful toys among preschoolers drives the market significantly. The rising appetite for advanced educational tools like computing kits, remote-controlled vehicles, Cubetto, Dash robots, and gaming products is also a key driver. This change in how children enjoy console games presents opportunities for growth. Industry participants are actively participating in various gaming events, encouraging the development of cutting-edge products that boost market expansion.
Leading players emphasize offering a range of toys to captivate children when they open their gifts, sparking interest and propelling industry growth nationwide. The avlability of eco-frily materials like cork, bamboo, and clay for toy production is also expected to fuel market growth as demand increases. Focusing on recycled plastic usage will likely accelerate market expansion.
However, the shift towards playing console games online eliminates the need for physical play equipment, attracting children who prefer virtual gaming experiences over traditional consoles and kits. This tr may limit market growth potential for video game console kit manufacturers.
COVID-19 Impact
The COVID-19 pandemic's school closures led to kids sping more time indoors, increasing demand for larger, fun-filled play figures. Building theme-based educational games became popular among children during the pandemic period. Parents' concerns about virus spread discouraged physical shopping, impacting sales for brick-and-mortar retlers.
Supply chn disruptions due to the pandemic made it challenging for retlers to stock up on new products, and the risk of infection from外出购物 also impacted consumer behavior, favoring indoor entertnment options.
Key Players
Industry players including Hape International AG, Hasbro, Inc., LEGO System AS, Mattel, Inc., Micro Mobility Systems AG, Ravensburger Ltd., Shantou City Big Tree Toys Co., Ltd, Sieper GmbH, Silverlit Toys Manufactory Limited, and Others are part of the competitive landscape.
Market Segmentation
The market is segmented by product type InfantPre-School Toys, Plush Toys, -user demographics Boys, Girls, Unisex, sales channels Departmental Stores, Online Stores, Specialty Toy Chn Stores, Supermarkets Hypermarkets, and geographic regions Guangdong, Henan, Jiangsu, Shandong, Zhejiang.
This report highlights the drivers, restrning factors, growth opportunities, and competitive landscape of the China toy market for the forecast period.
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Chinas Toy Market Forecast 2033 Growth Analysis CAGR of 10.83 for Toys Industry Outlook Eco Friendly Toys Boosting Market Expansion in China Online Gaming Trends Limiting Traditional Toys Demand Pandemic Impact on Indoor Play Equipment Sales Competitive Landscape Overview: Top Toy Brands in China