Stuffed and Plush Toys Market
Stuffed and Plush Toys Market By Product Type (Cartoon Toys, Traditional Stuffed Animals, Battery Operated, Action Figures & Model Play, Dolls & Playsets, Customizable stuffed animals, Special feature plush and puppets), By Application, By Region - Global Market Insights 2019 to 2029
Stuffed and Plush Toys Manufacturers Tapping New Revenue Streams, Market to Register 6% Growth
Global stuffed and plush toys market has shown steady growth in the recent past, and is expected to register a CAGR of more than 6% during forecast period. This growth in stuffed and plush toys demand can be attributed to manufacturers tapping into new revenue streams, as well as functionality centric innovations in the market.
New revenue streams for manufacturers are primarily Generation Y and millennials looking for vintage stuffed and plush toys. This consumer demand for vintage stuffed and plush toys is increasing and has led to a larger consumer base.
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Hyper/Super Markets and Toy Stores Collaborations to Entice Manufacturers
While e-commerce has started to overtake other sales channels in terms of consumer preference, hyper/super markets and toy stores have started to implement differentiating strategies to retain their foothold in the market. After liquidation of “Toys-R-US”, these collaborations have shown an upward trend.
In 2019, Target Brands, Inc. announced the opening of independent Disney stores inside their marts. Owing to these efforts of companies, hyper/super markets and toy stores will collectively maintain their supremacy and grow 1.7X during the forecast period.
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APEJ to Capture Large Chunk of Demand Pie in Stuffed and Plush Toys Market
APEJ accounts for nearly one third of total demand for stuffed and plush toys, and is expected to experience significant growth during forecast period. Themed, stuffed and plush toys have been gaining popularity in this region. While demand for traditional stuffed and plush toys has been strong, demand for action figurines and themed stuffed and plush toys has seen a prolific rise.
While trade wars between United States and China have affected stuffed and plush toys manufacturers reliant on production sites in China, companies have started to increase investments in countries such as Indonesia and Vietnam.
Licensing and Outsourcing to Remain Primary Tenets in Stuffed and Plush Toys Market
Branding strategies in stuffed and plush toys market have seen an upswing .Top franchisers and companies with trademarks & copyrights like Disney Brothers Cartoon Studio, Marvel Entertainment, and DC Comics, Inc. have outsourced their manufacturing or established licensing agreements with stuffed and plush toy manufacturers, to leverage their brand name.
These top companies are addressing the surge in consumer demand for collectibles and vintage toys. Millennials and Generation Y are at the forefront of this rising demand. Increase in licensing and easy pre-requisites for licensing are expected boost growth of the stuffed and plush toys market.
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Stuffed and Plush Toys Market Leaders Focus on Portfolio Expansion
Stuffed and plush toys market is highly fragmented with top players accounting for only 20% revenue share in the market. Stuffed and plush toys manufacturers are focused on increasing their portfolio. For inclusion of novel themes and trademarked titles, companies like Mattel Inc. and Hasbro Inc. have been entering into partnerships or agreements.
Similar strategies have also been carried out by other stuffed and plush toys manufacturers. Inclusion of new products and themes as well as constant expansion of existing portfolio according to popularity and consumer inclination has contributed to the growth of stuffed and plush toys market.
- In 2019, Mattel, Inc. entered into an international licensing agreement with Sanrio Co., Ltd. for Hello Kitty and related trademarked labels. Mattel will design and develop dolls, play sets, stuffed and plush toys inspired by these labels as well as other characters in Sanrio’s portfolio.
- In 2019, Mattel, Inc. expanded their licensing agreement with Disney for Pixar Animation Studios. The licensing agreement included titles like ‘Onward’, ‘Coco’, ‘Finding Nemo’, ‘Monsters, Inc.,’ and ‘The Incredibles’.
- In 2018, Hasbro, Inc. entered into a partnership with Nickelodeon, for networks new hit preschool series Top Wing. The launch was primarily carried out in United States and the global launch was carried out in 2019.
Global Stuffed and Plush Toys Market: Segmentation
Segmentation table of the global stuffed and plush toys market has been provided below on the basis of product type, stuffing material, sales channel, and region.
By Product Type :
- Cartoon Toys
- Traditional Stuffed Animals
- Battery Operated
- Action Figures & Model Play
- Dolls & Playsets
- Customizable stuffed animals
- Special feature plush and puppets
By Application :
- Synthetic toy fillings
- Natural toy fillings
- Eco friendly Toy Stuffing
- Organic Toy Stuffing
- Blended Materials (Synthetic and Natural mixed materials)
By Sales Channel :
- Hyper/Super markets
- Toy Stores
- Discount Stores
- Hobby and Craft Stores
- Other Sales Channels (Electronics and Video Stores, Gift Shops)
By Region :
- North America
- Latin America
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