As per the recent report published by Fact.MR, the global pre-school games and toys market is set to witness a healthy CAGR of 6.4% during the forecast period (2017-2022). Demand for activity toys and games such as board games, musical instruments, construction toys, puzzles, arts and crafts and play-acting has grown healthily in recent years. This is because these products offer more than just entertainment and enjoyment, they play an important part in developing intelligence, coordination and manual ability in children. This, in turn, is driving the popularity of such toys and pre-school games worldwide. Moreover, sales of toys and pre-schools games are also picking up in the emerging markets such as Brazil, India and China. Fact.MR’s report projects that towards the end of 2022, the market will surpass a valuation of US$ 11,000 Mn. This growth is likely to be supported by factors such as boom in online sales, rising per capita income and rising standard of leaving.
While demand for toys in developed regions remain steady, sales continue to soar in emerging economies. Online portals has emerged as major sales channel for toys and pre-schools games. Moreover, e-retail stores have cost benefits and allow a faster market penetration. Retail websites offer digital exposure to brads, which is of extreme significance to modern businesses. Factors as such are not only allowing manufacture to sale volumes but also achieve economies of scale. Concurrently, introduction of innovative toys that incorporated with modern technology has been successfully in attracting a wider pool of consumers. Manufacturers are also concentrating on improving the quality of their products in order to drive sales and increase brand loyalty. Today, top-quality raw materials are used in manufacturing of toys. Global sales will continue to grow at a steady pace over the next couple of years.
Additional Highlights of the Report Include:
Leading market players profiled in Fact.MR’s report include BANDAI NAMCO Holdings Inc., Mattel, Inc., Hasbro, Inc., SIMBA-DICKIE-GROUP GmbH, Alpha Group, Playgo Toys Manufacturing Limited, LEGO A/S, TOMY Company, Ltd., Spin Master Ltd., and Ravensburger AG.