1. Market Overview

According to statistics and forecasts from QYR (Hengzhou Bozhi), the global toy market sales reached US$67.63 billion in 2023 and are expected to reach US$91.58 billion in 2030, with a compound annual growth rate (CAGR) of 4.5% (2024-2030). This indicates that the global toy market will maintain a steady growth trend in the next few years.

2. Market Segmentation

1. Product Type :

• Activity toys : Activity toys are the largest market segment, accounting for more than 43%. These toys focus on children's hands-on ability and interactivity.

• Games and puzzles : Provide intellectual challenge and problem-solving fun.

• Building toys : such as building blocks and Lego, cultivate children's creativity and spatial cognition ability.

• Dolls and accessories : Loved by girls and children, providing role play and emotional companionship.

• Outdoor and Sports Toys : Encourage children to engage in outdoor activities and physical exercise.

• Others : including educational toys, technological toys, etc.

2. Application areas :

• The toy market is segmented based on age groups, including products for different age groups such as under 6 years old, 6-8 years old, 9-11 years old, and over 11 years old.

3. Regional Analysis

• Chinese market : The Chinese market has changed rapidly in the past few years. Although the specific data has not been fully given, it is expected to continue to grow and occupy an important position in the global market.

• North American market : North America is an important region in the global toy market, with strong consumption power and brand influence.

• European market : The European market also plays an important role, and consumers prefer high-quality and innovative toys.

• Southeast Asian Market : Southeast Asia is one of the fast-growing markets, with a market size of US$5.64 billion in 2023 and is expected to grow to US$6.52 billion in 2028, with a compound annual growth rate of 7%.

• Other regions : such as Japan, India, etc. also occupy a certain share in the global toy market.

4. Analysis of major manufacturers

The core manufacturers in the global toy market include Lego, Mattel, Hasbro, Bandai, MGA Entertainment, and Tecnobotry. These companies usually have strong brand influence and rich product lines, which can meet the needs of different age groups and consumer groups. The market share of the top six global toy manufacturers exceeds 34%, showing the high concentration of the market.

5. Market Trends

1. Intelligence and technological innovation : With the continuous advancement of cutting-edge technologies such as artificial intelligence and the Internet of Things, the functions and interactivity of smart toys will become increasingly powerful. For example, products such as smart dolls and programmable robots will gradually become popular.

2. Diversification of consumer demand : The increasing demand for personalization has prompted the toy market to pay more attention to product diversification and customization. Manufacturers will develop products that better meet consumer needs based on factors such as age, gender, and hobbies.

3. Environmental protection and sustainability : The increase in environmental awareness has prompted consumers to prefer toys made of environmentally friendly materials. Manufacturers will pay more attention to the environmentally friendly materials and production processes of their products to reduce the impact on the environment.

4. Cross-industry cooperation : In order to expand market space and enhance brand influence, toy companies have begun to cross-industry cooperation with other industries. For example, cooperation with animation, games and other industries can launch more smart toy products with intellectual property rights.

VI. Challenges and Opportunities

• Challenges : The toy industry faces challenges such as product homogeneity, high technical barriers, and safety hazards. At the same time, external factors such as fluctuations in raw material prices and changes in regulations and policies may also have an impact on the market.

• Opportunities : With the advancement of technology and the increasing demand of consumers for intelligent products, the smart toy market is showing a booming prospect. In addition, the recovery of the global economy and the improvement of consumer purchasing power will also bring more opportunities to the toy market.

To sum up, the global toy industry market will continue to maintain a steady growth in 2024, and will show new development trends in intelligence, diversification, environmental protection and sustainability.